Note 21 - Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2025

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Net trading		$	19,968			$	-			$	-			$	19,968			$	-			$	19,968
Asset management			-				4,188				-				4,188				-				4,188
New issue and advisory			70,650				-				-				70,650				-				70,650
Principal transactions			(6,355	)			-				(149	)			(6,504	)			-				(6,504	)
Other income			3				1,020				(714	)			309				-				309
Total revenues			84,266				5,208				(863	)			88,611				-				88,611
Cash compensation and benefits			55,336				2,757				359				58,452				5,332				63,784
Stock based compensation			192				50				-				242				1,963				2,205
Business development			1,050				115				1				1,166				611				1,777
Occupancy and equipment			1,361				106				-				1,467				573				2,040
Subscriptions, clearing, and execution			4,204				168				30				4,402				104				4,506
Professional fee and other operating			3,788				588				262				4,638				1,715				6,353
Depreciation and amortization			-				4				-				4				340				344
Total operating expenses			65,931				3,788				652				70,371				10,638				81,009
Operating income (loss)			18,335				1,420				(1,515	)			18,240				(10,638	)			7,602
Interest income (expense)			(40	)			-				-				(40	)			(2,904	)			(2,944	)
Gain on sale of management contracts			-				837				-				837				-				837
Income (loss) from equity method affiliates			(481	)			-				1,462				981				-				981
Income (loss) before income taxes			17,814				2,257				(53	)			20,018				(13,542	)			6,476
Income tax expense (benefit)			-				-				-				-				910				910
Net income (loss)			17,814				2,257				(53	)			20,018				(14,452	)			5,566
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC			-				-				(314	)			(314	)			-				(314	)
Enterprise net income (loss)			17,814				2,257				261				20,332				(14,452	)			5,880
Less: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc.			-				-				-				-				4,143				4,143
Net income (loss) attributable to Cohen & Company Inc.		$	17,814			$	2,257			$	261			$	20,332			$	(18,595	)		$	1,737

Other statement of operations data
Cash compensation as a percentage of revenue			65.67	%			52.94	%			41.60	%			65.96	%			N/A				71.98	%
Operating income / (loss) as a percentage of revenue			21.76	%			27.27	%			175.55	%			20.58	%			N/A				8.58	%
Net income / (loss) as a percentage of revenue			21.14	%			43.34	%			6.14	%			22.59	%			N/A				6.28	%
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue			21.14	%			43.34	%			30.24	%			22.95	%			N/A				1.96	%

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Net trading		$	18,646			$	-			$	-			$	18,646			$	-			$	18,646
Asset management			-				4,795				-				4,795				-				4,795
New issue and advisory			30,888				-				-				30,888				-				30,888
Principal transactions			(16,752	)			-				(10,298	)			(27,050	)			-				(27,050	)
Other income			-				1,487				596				2,083				-				2,083
Total revenues			32,782				6,282				(9,702	)			29,362				-				29,362
Cash compensation and benefits			20,092				2,795				961				23,848				(614	)			23,234
Stock based compensation			285				72				-				357				1,947				2,304
Business development			672				132				12				816				185				1,001
Occupancy and equipment			1,364				106				-				1,470				561				2,031
Subscriptions, clearing, and execution			3,888				178				121				4,187				116				4,303
Professional fee and other operating			2,193				793				389				3,375				2,607				5,982
Depreciation and amortization			-				2				-				2				247				249
Total operating expenses			28,494				4,078				1,483				34,055				5,049				39,104
Operating income / (loss)			4,288				2,204				(11,185	)			(4,693	)			(5,049	)			(9,742	)
Interest (expense) income			(38	)			-				-				(38	)			(3,053	)			(3,091	)
Income (loss) from equity method affiliates			-				-				23,049				23,049				-				23,049
Income (loss) before income taxes			4,250				2,204				11,864				18,318				(8,102	)			10,216
Income tax expense (benefit)			-				-				-				-				293				293
Net income (loss)			4,250				2,204				11,864				18,318				(8,395	)			9,923
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC			-				-				11,064				11,064				-				11,064
Enterprise net income (loss)			4,250				2,204				800				7,254				(8,395	)			(1,141	)
Less: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc.			-				-				-				-				(815	)			(815	)
Net income (loss) attributable to Cohen & Company Inc.		$	4,250			$	2,204			$	800			$	7,254			$	(7,580	)		$	(326	)

Other statement of operations data
Cash compensation and benefits as a percentage of revenue			61.29	%			44.49	%			9.91	%			81.22	%			N/A				79.13	%
Operating income / (loss) as a percentage of revenue			13.08	%			35.08	%			115.29	%			15.98	%			N/A				33.18	%
Net income / (loss) as a percentage of revenue			12.96	%			35.08	%			122.28	%			62.39	%			N/A				33.80	%
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue			12.96	%			35.08	%			8.25	%			24.71	%			N/A				1.11	%

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Net trading		$	10,757			$	-			$	-			$	10,757			$	-			$	10,757
Asset management			-				2,168				-				2,168				-				2,168
New issue and advisory			37,411				-				-				37,411				-				37,411
Principal transactions			6,722				-				2,181				8,903				-				8,903
Other income			-				584				48				632				-				632
Total revenues			54,890				2,752				2,229				59,871				-				59,871
Cash compensation and benefits			37,325				1,387				201				38,913				4,361				43,274
Stock based compensation			60				23				-				83				966				1,049
Business development			675				57				-				732				217				949
Occupancy and equipment			692				55				-				747				292				1,039
Subscriptions, clearing, and execution			2,196				82				3				2,281				51				2,332
Professional fee and other operating			2,544				216				79				2,839				722				3,561
Depreciation and amortization			-				2				-				2				170				172
Total operating expenses			43,492				1,822				283				45,597				6,779				52,376
Operating income (loss)			11,398				930				1,946				14,274				(6,779	)			7,495
Interest income (expense)			(22	)			-				-				(22	)			(1,474	)			(1,496	)
Gain on sale of management contracts			-				837				-				837				-				837
Income (loss) from equity method affiliates			(482	)			-				(955	)			(1,437	)			-				(1,437	)
Income (loss) before income taxes			10,894				1,767				991				13,652				(8,253	)			5,399
Income tax expense (benefit)			-				-				-				-				771				771
Net income (loss)			10,894				1,767				991				13,652				(9,024	)			4,628
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC			-				-				(141	)			(141	)			-				(141	)
Enterprise net income (loss)			10,894				1,767				1,132				13,793				(9,024	)			4,769
Less: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc.			-				-				-				-				3,361				3,361
Net income (loss) attributable to Cohen & Company Inc.		$	10,894			$	1,767			$	1,132			$	13,793			$	(12,385	)		$	1,408

Other statement of operations data
Cash compensation as a percentage of revenue			68.00	%			50.40	%			9.02	%			64.99	%			N/A				72.28	%
Operating income / (loss) as a percentage of revenue			20.77	%			33.79	%			87.30	%			23.84	%			N/A				12.52	%
Net income / (loss) as a percentage of revenue			19.85	%			64.21	%			44.46	%			22.80	%			N/A				7.73	%
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue			19.85	%			64.21	%			50.79	%			23.04	%			N/A				2.35	%

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Net trading		$	8,798			$	-			$	-			$	8,798			$	-			$	8,798
Asset management			-				2,078				-				2,078				-				2,078
New issue and advisory			6,500				-				-				6,500				-				6,500
Principal transactions			(5,230	)			-				(2,338	)			(7,568	)			-				(7,568	)
Other income			-				939				51				990				-				990
Total revenues			10,068				3,017				(2,287	)			10,798				-				10,798
Cash compensation and benefits			7,888				1,152				468				9,508				36				9,544
Stock based compensation			145				36				-				181				974				1,155
Business development			370				65				-				435				110				545
Occupancy and equipment			683				52				-				735				311				1,046
Subscriptions, clearing, and execution			2,025				92				46				2,163				54				2,217
Professional fee and other operating			887				330				206				1,423				1,110				2,533
Depreciation and amortization			-				2				-				2				123				125
Total operating expenses			11,998				1,729				720				14,447				2,718				17,165
Operating income / (loss)			(1,930	)			1,288				(3,007	)			(3,649	)			(2,718	)			(6,367	)
Interest (expense) income			(18	)			-				-				(18	)			(1,407	)			(1,425	)
Income (loss) from equity method affiliates			-				-				(5,996	)			(5,996	)			-				(5,996	)
Income (loss) before income taxes			(1,948	)			1,288				(9,003	)			(9,663	)			(4,125	)			(13,788	)
Income tax expense (benefit)			-				-				-				-				(205	)			(205	)
Net income (loss)			(1,948	)			1,288				(9,003	)			(9,663	)			(3,920	)			(13,583	)
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC			-				-				(5,206	)			(5,206	)			-				(5,206	)
Enterprise net income (loss)			(1,948	)			1,288				(3,797	)			(4,457	)			(3,920	)			(8,377	)
Less: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc.			-				-				-				-				(6,028	)			(6,028	)
Net income (loss) attributable to Cohen & Company Inc.		$	(1,948	)		$	1,288			$	(3,797	)		$	(4,457	)		$	2,108			$	(2,349	)

Other statement of operations data
Cash compensation and benefits as a percentage of revenue			78.35	%			38.18	%			20.46	%			88.05	%			N/A				88.39	%
Operating income / (loss) as a percentage of revenue			19.17	%			42.69	%			131.48	%			33.79	%			N/A				58.96	%
Net income / (loss) as a percentage of revenue			19.35	%			42.69	%			393.66	%			89.49	%			N/A				125.79	%
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue			19.35	%			42.69	%			166.03	%			41.28	%			N/A				21.75	%

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Total Assets		$	1,042,043			$	6,595			$	40,660			$	1,089,298			$	42,352			$	1,131,650

Included within total assets:
Investments in equity method affiliates		$	310			$	-			$	24,371			$	24,681			$	-			$	24,681
Goodwill (2)		$	54			$	55			$	-			$	109			$	-			$	109
Intangible assets (2)		$	166			$	-			$	-			$	166			$	-			$	166

		Capital				Asset				Principal				Segment				Unallocated
		Markets				Management				Investing				Total				(1)				Total
Total Assets		$	888,780			$	7,371			$	44,175			$	940,326			$	30,823			$	971,149

Included within total assets:
Investments in equity method affiliates		$	-			$	-			$	23,430			$	23,430			$	-			$	23,430
Goodwill (2)		$	54			$	55			$	-			$	109			$	-			$	109
Intangible assets (2)		$	166			$	-			$	-			$	166			$	-			$	166

Revenue from External Customers by Geographic Areas [Table Text Block]

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Total Revenues:
United States		$	58,455			$	9,575			$	85,944			$	26,318
Europe			1,416				1,223				2,667				3,044
Total		$	59,871			$	10,798			$	88,611			$	29,362