v3.26.1
Note 21 - Segment and Geographic Information - Statements of Operations Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Net trading $ 13,888   $ 10,757   $ 27,088 $ 19,968  
Principal transactions (726)   2,181   (4,641) (148)  
Other income 429   632   916 306  
Revenues 69,487   59,871   127,389 88,611  
Compensation and benefits 48,185   44,323   89,492 65,989  
Business development 1,362   949   2,620 1,777  
Occupancy and equipment 1,229   1,039   2,354 2,040  
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 (loss) 12,409   7,495   17,542 7,602  
Interest expense (1,311)   (1,496)   (2,646) (2,944)  
Income (Loss) from Equity Method Investments (3,038)   (1,437)   (3,565) 981 $ (16,763)
Income (loss) before income taxes 8,060   5,399   11,331 6,476  
Income tax expense (benefit) 141   771   (41) 910  
Net income 7,919 $ 3,453 4,628 $ 938 11,372 5,566  
Net income (loss) attributable to Cohen & Company Inc. $ 3,574   $ 1,408   $ 5,066 $ 1,737  
Compensation and benefits as a percentage of revenue 69.34%   74.03%   70.25% 74.47%  
Operating income / (loss) as a percentage of revenue 17.86%   12.52%   13.77% 8.58%  
Net income / (loss) as a percentage of revenue 11.40%   7.73%   8.93% 6.28%  
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue 5.14%   2.35%   3.98% 1.96%  
Gain on sale of management contracts $ 0   $ 837   $ 0 $ 837  
Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. (2,058)   (141)   (2,776) (314)  
Cohen Co Including Noncontrolling Interest [Member]              
Net income 9,977   4,769   14,148 5,880  
Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. [1] 6,403   3,361   9,082 4,143  
Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 54,059   44,133   99,770 64,297  
Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 1,837   2,168   4,256 4,188  
Operating Segments [Member]              
Net trading 13,888   10,757   27,088 19,968  
Principal transactions (726)   2,181   (4,641) (148)  
Other income 429   632   916 306  
Revenues 69,487   59,871   127,389 88,611  
Compensation and benefits 44,217   38,996   81,906 58,694  
Business development 969   732   1,997 1,166  
Occupancy and equipment 890   747   1,740 1,467  
Subscriptions, clearing, and execution 3,510   2,281   7,403 4,402  
Professional Fees 1,735   2,839   5,034 4,638  
Depreciation and amortization 1   2   3 4  
Total operating expenses 51,322   45,597   98,083 70,371  
Operating income (loss) 18,165   14,274   29,306 18,240  
Interest expense (45)   (22)   (89) (40)  
Income (Loss) from Equity Method Investments (3,038)   (1,437)   (3,565) 981  
Income (loss) before income taxes 15,082   13,652   25,652 20,018  
Income tax expense (benefit) 192   0   257 0  
Net income 14,890   13,652   25,395 20,018  
Net income (loss) attributable to Cohen & Company Inc. $ 16,948   $ 13,793   $ 28,171 $ 20,332  
Compensation and benefits as a percentage of revenue 63.63%   65.13%   64.30% 66.24%  
Operating income / (loss) as a percentage of revenue 26.14%   23.84%   23.01% 20.58%  
Net income / (loss) as a percentage of revenue 21.43%   22.80%   19.94% 22.59%  
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue 24.39%   23.04%   22.11% 22.95%  
Gain on sale of management contracts     $ 837     $ 837  
Operating Segments [Member] | Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. $ (2,058)   (141)   $ (2,776) (314)  
Operating Segments [Member] | Cohen Co Including Noncontrolling Interest [Member]              
Net income 16,948   13,793   28,171 20,332  
Operating Segments [Member] | Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 0   0   0 0  
Operating Segments [Member] | Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 54,059   44,133   99,770 64,297  
Operating Segments [Member] | Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 1,837   2,168   4,256 4,188  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]              
Net trading [2] 0   0   0 0  
Principal transactions [2] 0   0   0 0  
Other income [2] 0   0   0 0  
Revenues [2] 0   0   0 0  
Compensation and benefits 3,968   5,327   7,586 7,295  
Business development [2] 393   217   623 611  
Occupancy and equipment [2] 339   292   614 573  
Subscriptions, clearing, and execution [2] 63   51   122 104  
Professional Fees [2] 777   722   2,402 1,715  
Depreciation and amortization [2] 216   170   417 340  
Total operating expenses [2] 5,756   6,779   11,764 10,638  
Operating income (loss) [2] (5,756)   (6,779)   (11,764) (10,638)  
Interest expense (1,266)   (1,474)   (2,557) (2,904)  
Income (Loss) from Equity Method Investments [2] 0   0   0 0  
Income (loss) before income taxes [2] (7,022)   (8,253)   (14,321) (13,542)  
Income tax expense (benefit) [2] (51)   771   (298) 910  
Net income [2] (6,971)   (9,024)   (14,023) (14,452)  
Net income (loss) attributable to Cohen & Company Inc. [2] (13,374)   (12,385)   (23,105) (18,595)  
Gain on sale of management contracts     0     0  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 0   0 [2]   0 [2] 0 [2]  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Cohen Co Including Noncontrolling Interest [Member]              
Net income [2] (6,971)   (9,024)   (14,023) (14,452)  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 6,403 [2]   3,361   9,082 [2] 4,143  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 0   0   0 0  
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 0 [2]   0   0 [2] 0  
Capital Markets [Member] | Operating Segments [Member]              
Net trading 13,888   10,757   27,088 19,968  
Principal transactions 0   0   0 0  
Other income 0   0   1 0  
Revenues 67,947   54,890   126,859 84,265  
Compensation and benefits 42,615   37,385   78,458 55,528  
Business development 923   675   1,853 1,050  
Occupancy and equipment 833   692   1,626 1,361  
Subscriptions, clearing, and execution 3,429   2,196   7,230 4,204  
Professional Fees 1,093   2,544   3,912 3,788  
Depreciation and amortization 0   0   0 0  
Total operating expenses 48,893   43,492   93,079 65,931  
Operating income (loss) 19,054   11,398   33,780 18,334  
Interest expense (45)   (22)   (89) (40)  
Income (Loss) from Equity Method Investments (877)   (482)   (991) (480)  
Income (loss) before income taxes 18,132   10,894   32,700 17,814  
Income tax expense (benefit) 0   0   0 0  
Net income 18,132   10,894   32,700 17,814  
Net income (loss) attributable to Cohen & Company Inc. $ 18,132   $ 10,894   $ 32,700 $ 17,814  
Compensation and benefits as a percentage of revenue 62.72%   68.11%   61.85% 65.90%  
Operating income / (loss) as a percentage of revenue 28.04%   20.77%   26.63% 21.76%  
Net income / (loss) as a percentage of revenue 26.69%   19.85%   25.78% 21.14%  
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue 26.69%   19.85%   25.78% 21.14%  
Gain on sale of management contracts     $ 0     $ 0  
Capital Markets [Member] | Operating Segments [Member] | Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. $ 0   0   $ 0 0  
Capital Markets [Member] | Operating Segments [Member] | Cohen Co Including Noncontrolling Interest [Member]              
Net income 18,132   10,894   32,700 17,814  
Capital Markets [Member] | Operating Segments [Member] | Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 0   0   0 0  
Capital Markets [Member] | Operating Segments [Member] | Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 54,059   44,133   99,770 64,297  
Capital Markets [Member] | Operating Segments [Member] | Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 0   0   0 0  
Asset Management Segment [Member] | Operating Segments [Member]              
Net trading 0   0   0 0  
Principal transactions 0   0   0 0  
Other income 359   584   650 1,020  
Revenues 2,196   2,752   4,906 5,208  
Compensation and benefits 1,572   1,410   3,388 2,807  
Business development 46   57   144 115  
Occupancy and equipment 57   55   114 106  
Subscriptions, clearing, and execution 81   82   173 168  
Professional Fees 607   216   1,072 588  
Depreciation and amortization 1   2   3 4  
Total operating expenses 2,364   1,822   4,894 3,788  
Operating income (loss) (168)   930   12 1,420  
Interest expense 0   0   0 0  
Income (Loss) from Equity Method Investments 0   0   0 0  
Income (loss) before income taxes (168)   1,767   12 2,257  
Income tax expense (benefit) 192   0   257 0  
Net income (360)   1,767   (245) 2,257  
Net income (loss) attributable to Cohen & Company Inc. $ (360)   $ 1,767   $ (245) $ 2,257  
Compensation and benefits as a percentage of revenue 71.58%   51.24%   69.06% 53.90%  
Operating income / (loss) as a percentage of revenue (7.65%)   33.79%   0.24% 27.27%  
Net income / (loss) as a percentage of revenue (16.39%)   64.21%   (4.99%) 43.34%  
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue (16.39%)   64.21%   (4.99%) 43.34%  
Gain on sale of management contracts     $ 837     $ 837  
Asset Management Segment [Member] | Operating Segments [Member] | Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. $ 0   0   $ 0 0  
Asset Management Segment [Member] | Operating Segments [Member] | Cohen Co Including Noncontrolling Interest [Member]              
Net income (360)   1,767   (245) 2,257  
Asset Management Segment [Member] | Operating Segments [Member] | Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 0   0   0 0  
Asset Management Segment [Member] | Operating Segments [Member] | Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 0   0   0 0  
Asset Management Segment [Member] | Operating Segments [Member] | Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 1,837   2,168   4,256 4,188  
Principal Investing [Member] | Operating Segments [Member]              
Net trading 0   0   0 0  
Principal transactions (726)   2,181   (4,641) (148)  
Other income 70   48   265 (714)  
Revenues (656)   2,229   (4,376) (862)  
Compensation and benefits 30   201   60 359  
Business development 0   0   0 1  
Occupancy and equipment 0   0   0 0  
Subscriptions, clearing, and execution 0   3   0 30  
Professional Fees 35   79   50 262  
Depreciation and amortization 0   0   0 0  
Total operating expenses 65   283   110 652  
Operating income (loss) (721)   1,946   (4,486) (1,514)  
Interest expense 0   0   0 0  
Income (Loss) from Equity Method Investments (2,161)   (955)   (2,574) 1,461  
Income (loss) before income taxes (2,882)   991   (7,060) (53)  
Income tax expense (benefit) 0   0   0 0  
Net income (2,882)   991   (7,060) (53)  
Net income (loss) attributable to Cohen & Company Inc. $ (824)   $ 1,132   $ (4,284) $ 261  
Compensation and benefits as a percentage of revenue (4.57%)   9.02%   (1.37%) (41.65%)  
Operating income / (loss) as a percentage of revenue (109.91%)   87.30%   (102.51%) (175.64%)  
Net income / (loss) as a percentage of revenue (439.33%)   44.46%   (161.33%) (6.15%)  
Net income / (loss) attributable to Cohen & Company Inc. as a percentage of revenue (125.61%)   50.79%   (97.90%) 30.28%  
Gain on sale of management contracts     $ 0     $ 0  
Principal Investing [Member] | Operating Segments [Member] | Non-controlling Interest of Operating LLC [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. $ (2,058)   (141)   $ (2,776) (314)  
Principal Investing [Member] | Operating Segments [Member] | Cohen Co Including Noncontrolling Interest [Member]              
Net income (824)   1,132   (4,284) 261  
Principal Investing [Member] | Operating Segments [Member] | Non-controlling Interest of Cohen & Co. [Member]              
Add: Net income (loss) attributable to the convertible non-controlling interest of Cohen & Company Inc. 0   0   0 0  
Principal Investing [Member] | Operating Segments [Member] | Investment Banking and New Issue [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax 0   0   0 0  
Principal Investing [Member] | Operating Segments [Member] | Asset Management [Member]              
Revenue from Contract with Customer, Excluding Assessed Tax $ 0   $ 0   $ 0 $ 0  
[1] 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.
[2] Unallocated includes certain expenses incurred by indirect overhead and support departments (such as the executive, finance, legal, information technology, human resources, risk, compliance, and other similar overhead and support departments). Some of the items not allocated include: (1) operating expenses (such as cash compensation and benefits, equity-based compensation expense, professional fees, travel and entertainment, consulting fees, and rent) related to support departments excluding certain departments that directly support the Capital Markets business segment; (2) interest expense on debt; and (3) income taxes. Management does not consider these items necessary for an understanding of the operating results of these business segments and such amounts are excluded in business segment reporting to the CODM.