v3.26.1
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net trading $ 13,888 $ 10,757 $ 27,088 $ 19,968
Principal transactions and other income (297) 2,813 (3,725) 158
Total revenues 69,487 59,871 127,389 88,611
Operating expenses        
Compensation and benefits 48,185 44,323 89,492 65,989
Business development, occupancy, equipment 2,591 1,988 4,974 3,817
Subscriptions, clearing, and execution 3,573 2,332 7,525 4,506
Professional Fees 2,512 3,561 7,436 6,353
Depreciation and amortization 217 172 420 344
Total operating expenses 57,078 52,376 109,847 81,009
Operating income 12,409 7,495 17,542 7,602
Non-operating income (expense)        
Interest expense, net (1,311) (1,496) (2,646) (2,944)
Gain on sale of management contracts 0 837 0 837
Income (loss) from equity method affiliates (3,038) (1,437) (3,565) 981
Income before income tax expense 8,060 5,399 11,331 6,476
Income tax expense (benefit) 141 771 (41) 910
Net income 7,919 4,628 11,372 5,566
Enterprise net income 7,919 4,628 11,372 5,566
Net income attributable to Cohen & Company Inc. $ 3,574 $ 1,408 $ 5,066 $ 1,737
Income per common share-basic:        
Net income / (loss) per common share - Basic (in dollars per share) $ 1.58 $ 0.81 $ 2.48 $ 1.01
Weighted average shares outstanding-basic (in shares) 2,260,310 1,740,307 2,042,252 1,722,409
Income per common share-diluted:        
Net income / (loss) per common share - Diluted (in dollars per share) $ 0.94 $ 0.81 $ 1.36 $ 1
Weighted average shares outstanding-diluted (in shares) [1] 6,246,612 5,912,753 6,175,567 5,883,087
Comprehensive income:        
Net income $ 7,919 $ 4,628 $ 11,372 $ 5,566
Other comprehensive (loss) item:        
Foreign currency translation adjustments, net of tax (29) 239 (106) 355
Other comprehensive income / (loss), net of tax (29) 239 (106) 355
Comprehensive income 7,890 4,867 11,266 5,921
Less: comprehensive income attributable to the non-controlling interest 4,337 3,388 6,243 4,079
Comprehensive income attributable to Cohen & Company Inc. 3,553 1,479 5,023 1,842
Non-controlling Interest of Operating LLC [Member]        
Non-operating income (expense)        
Less: Net (loss) attributable to the non-convertible non-controlling interest of the Operating LLC (2,058) (141) (2,776) (314)
Cohen Co Including Noncontrolling Interest [Member]        
Non-operating income (expense)        
Net income 9,977 4,769 14,148 5,880
Enterprise net income 9,977 4,769 14,148 5,880
Comprehensive income:        
Net income 9,977 4,769 14,148 5,880
Non-controlling Interest of Cohen & Co. [Member]        
Non-operating income (expense)        
Less: Net (loss) attributable to the non-convertible non-controlling interest of the Operating LLC [2] 6,403 3,361 9,082 4,143
New Issue and Advisory [Member]        
Revenues, total 54,059 44,133 99,770 64,297
Revenue from Contract with Customer, Excluding Assessed Tax 54,059 44,133 99,770 64,297
Asset Management [Member]        
Revenues, total 1,837 2,168 4,256 4,188
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,837 $ 2,168 $ 4,256 $ 4,188
[1] All potentially dilutive securities were included in the diluted per share calculations.
[2] The LLC Units not held by Cohen & Company Inc. (that is, those held by the non-controlling interest) may be redeemed and exchanged into shares of the Company on a ten-for-one basis. The LLC Units not held by Cohen & Company Inc. are redeemable, at the member’s option at any time, for (i) cash in an amount equal to the average of the per share closing prices of the Common Stock for the ten consecutive trading days immediately preceding the date the Company receives the member’s redemption notice, or (ii) at the Company’s option, one tenth of a share of the Common Stock, subject, in each case, to appropriate adjustment upon the occurrence of an issuance of additional shares of the Common Stock as a dividend or other distribution on the outstanding Common Stock, or a further subdivision or combination of the outstanding shares of the Common Stock. These LLC Units are not included in the computation of basic earnings per share. These LLC Units enter into the computation of diluted net income (loss) per common share when the effect is not anti-dilutive using the if-converted method.