v3.26.1
Note 21 - Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 30, 2026
Notes Tables  
Segment Reporting [Table Text Block]
  

Capital

  

Asset

  

Principal

  

Segment

  

Unallocated

     
  

Markets

  

Management

  

Investing

  

Total

  

(1)

  

Total

 

Investment banking and new issue

 $99,770  $-  $-  $99,770  $-  $99,770 

Net trading

  27,088   -   -   27,088   -   27,088 

Asset management

  -   4,256   -   4,256   -   4,256 

Principal transactions

  -   -   (4,641)  (4,641)  -   (4,641)

Other income

  1   650   265   916   -   916 

Total revenues

  126,859   4,906   (4,376)  127,389   -   127,389 

Compensation and benefits

  78,458   3,388   60   81,906   7,586   89,492 

Business development

  1,853   144   -   1,997   623   2,620 

Occupancy and equipment

  1,626   114   -   1,740   614   2,354 

Subscriptions, clearing, and execution

  7,230   173   -   7,403   122   7,525 

Professional fee and other operating

  3,912   1,072   50   5,034   2,402   7,436 

Depreciation and amortization

  -   3   -   3   417   420 

Total operating expenses

  93,079   4,894   110   98,083   11,764   109,847 

Operating income (loss)

  33,780   12   (4,486)  29,306   (11,764)  17,542 

Interest expense

  (89)  -   -   (89)  (2,557)  (2,646)

Income (loss) from equity method affiliates

  (991)  -   (2,574)  (3,565)  -   (3,565)

Income (loss) before income taxes

  32,700   12   (7,060)  25,652   (14,321)  11,331 

Income tax expense (benefit)

  -   257   -   257   (298)  (41)

Net income (loss)

  32,700   (245)  (7,060)  25,395   (14,023)  11,372 

Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC

  -   -   (2,776)  (2,776)  -   (2,776)

Enterprise net income (loss)

  32,700   (245)  (4,284)  28,171   (14,023)  14,148 

Less: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc.

  -   -   -   -   9,082   9,082 

Net income (loss) attributable to Cohen & Company Inc.

 $32,700  $(245) $(4,284) $28,171  $(23,105) $5,066 
                         

Other statement of operations data

                        

Compensation and benefits as a percentage of revenue

  61.85%  69.06%  (1.37)%  64.30%  N/A   70.25%

Operating income / (loss) as a percentage of revenue

  26.63%  0.24%  (102.51)%  23.01%  N/A   13.77%

Net income / (loss) as a percentage of revenue

  25.78%  (4.99)%  (161.33)%  19.94%  N/A   8.93%

Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue

  25.78%  (4.99)%  (97.90)%  22.11%  N/A   3.98%
  

Capital

  

Asset

  

Principal

  

Segment

  

Unallocated

     
  

Markets

  

Management

  

Investing

  

Total

  

(1)

  

Total

 

Investment banking and new issue

 $64,297  $-  $-  $64,297  $-  $64,297 

Net trading

  19,968   -   -   19,968   -   19,968 

Asset management

  -   4,188   -   4,188   -   4,188 

Principal transactions

  -   -   (148)  (148)  -   (148)

Other income

  -   1,020   (714)  306   -   306 

Total revenues

  84,265   5,208   (862)  88,611   -   88,611 

Compensation and benefits

  55,528   2,807   359   58,694   7,295   65,989 

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)

  18,334   1,420   (1,514)  18,240   (10,638)  7,602 

Interest expense

  (40)  -   -   (40)  (2,904)  (2,944)

Gain on sale of management contracts

  -   837   -   837   -   837 

Income (loss) from equity method affiliates

  (480)  -   1,461   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

                        

Compensation and benefits as a percentage of revenue

  65.90%  53.90%  (41.65)%  66.24%  N/A   74.47%

Operating income / (loss) as a percentage of revenue

  21.76%  27.27%  (175.64)%  20.58%  N/A   8.58%

Net income / (loss) as a percentage of revenue

  21.14%  43.34%  (6.15)%  22.59%  N/A   6.28%

Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue

  21.14%  43.34%  30.28%  22.95%  N/A   1.96%
  

Capital

  

Asset

  

Principal

  

Segment

  

Unallocated

     
  

Markets

  

Management

  

Investing

  

Total

  

(1)

  

Total

 

Investment banking and new issue

 $54,059  $-  $-  $54,059  $-  $54,059 

Net trading

  13,888   -   -   13,888   -   13,888 

Asset management

  -   1,837   -   1,837   -   1,837 

Principal transactions

  -   -   (726)  (726)  -   (726)

Other income

  -   359   70   429   -   429 

Total revenues

  67,947   2,196   (656)  69,487   -   69,487 

Compensation and benefits

  42,615   1,572   30   44,217   3,968   48,185 

Business development

  923   46   -   969   393   1,362 

Occupancy and equipment

  833   57   -   890   339   1,229 

Subscriptions, clearing, and execution

  3,429   81   -   3,510   63   3,573 

Professional fee and other operating

  1,093   607   35   1,735   777   2,512 

Depreciation and amortization

  -   1   -   1   216   217 

Total operating expenses

  48,893   2,364   65   51,322   5,756   57,078 

Operating income (loss)

  19,054   (168)  (721)  18,165   (5,756)  12,409 

Interest expense

  (45)  -   -   (45)  (1,266)  (1,311)

Income (loss) from equity method affiliates

  (877)  -   (2,161)  (3,038)  -   (3,038)

Income (loss) before income taxes

  18,132   (168)  (2,882)  15,082   (7,022)  8,060 

Income tax expense (benefit)

  -   192   -   192   (51)  141 

Net income (loss)

  18,132   (360)  (2,882)  14,890   (6,971)  7,919 

Less: Net (loss) attributable to the non-convertible non-controlling interest of the Operating LLC

  -   -   (2,058)  (2,058)  -   (2,058)

Enterprise net income (loss)

  18,132   (360)  (824)  16,948   (6,971)  9,977 

Less: Net income attributable to the convertible non-controlling interest of Cohen & Company Inc.

  -   -   -   -   6,403   6,403 

Net income (loss) attributable to Cohen & Company Inc.

 $18,132  $(360) $(824) $16,948  $(13,374) $3,574 
                         

Other statement of operations data

                        

Compensation and benefits as a percentage of revenue

  62.72%  71.58%  (4.57)%  63.63%  N/A   69.34%

Operating income / (loss) as a percentage of revenue

  28.04%  (7.65)%  (109.91)%  26.14%  N/A   17.86%

Net income / (loss) as a percentage of revenue

  26.69%  (16.39)%  (439.33)%  21.43%  N/A   11.40%

Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue

  26.69%  (16.39)%  (125.61)%  24.39%  N/A   5.14%
  

Capital

  

Asset

  

Principal

  

Segment

  

Unallocated

     
  

Markets

  

Management

  

Investing

  

Total

  

(1)

  

Total

 

Investment banking and new issue

 $44,133  $-  $-  $44,133  $-  $44,133 

Net trading

  10,757   -   -   10,757   -   10,757 

Asset management

  -   2,168   -   2,168   -   2,168 

Principal transactions

  -   -   2,181   2,181   -   2,181 

Other income

  -   584   48   632   -   632 

Total revenues

  54,890   2,752   2,229   59,871   -   59,871 

Compensation and benefits

  37,385   1,410   201   38,996   5,327   44,323 

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 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 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

                        

Compensation and benefits as a percentage of revenue

  68.11%  51.24%  9.02%  65.13%  N/A   74.03%

Operating income as a percentage of revenue

  20.77%  33.79%  87.30%  23.84%  N/A   12.52%

Net income as a percentage of revenue

  19.85%  64.21%  44.46%  22.80%  N/A   7.73%

Net income attributable to Cohen & Company Inc. as a percentage of revenue

  19.85%  64.21%  50.79%  23.04%  N/A   2.35%
Segment Reporting, Reconciliation of Asset by Segment to Consolidated [Table Text Block]
  

Capital

  

Asset

  

Principal

  

Segment

  

Unallocated

     
  

Markets

  

Management

  

Investing

  

Total

  (1)  

Total

 

Total Assets

 $713,970  $9,245  $21,606  $744,821  $55,562  $800,383 
                         

Included within total assets:

                        

Investments in equity method affiliates

 $-  $-  $8,152  $8,152  $-  $8,152 

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

 $591,923  $11,408  $27,093  $630,424  $70,161  $700,585 
                         

Included within total assets:

                        

Investments in equity method affiliates

 $-  $-  $6,661  $6,661  $-  $6,661 

Goodwill (2)

 $54  $55  $-  $109  $-  $109 

Intangible assets (2)

 $166  $-  $-  $166  $-  $166 
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue [Table Text Block]
  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Total Revenues:

                

United States

 $67,733  $58,455  $123,552  $85,944 

Europe

  1,754   1,416   3,837   2,667 

Total

 $69,487  $59,871  $127,389  $88,611