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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Net trading $ 13,200 $ 9,211
Principal transactions and other income (3,428) (2,655)
Total revenues 57,902 28,740
Operating expenses    
Compensation and benefits 41,307 21,666
Business development, occupancy, equipment 2,383 1,829
Subscriptions, clearing, and execution 3,952 2,174
Professional Fees 4,924 2,792
Depreciation and amortization 203 172
Total operating expenses 52,769 28,633
Operating income 5,133 107
Non-operating income (expense)    
Interest expense, net (1,335) (1,448)
Income (loss) from equity method affiliates (527) 2,418
Income before income tax expense 3,271 1,077
Income tax expense (benefit) (182) 139
Net income 3,453 938
Enterprise net income 3,453 938
Net income attributable to Cohen & Company Inc. $ 1,492 $ 329
Income per common share-basic:    
Basic income per common share (in dollars per share) $ 0.82 $ 0.19
Weighted average shares outstanding-basic (in shares) 1,824,193 1,704,510
Income per common share-diluted:    
Diluted income (loss) per common share (in dollars per share) $ 0.42 $ 0.19
Weighted average shares outstanding-diluted (in shares) [1] 6,104,521 5,808,294
Comprehensive income:    
Net income (loss) $ 3,453 $ 938
Other comprehensive (loss) item:    
Foreign currency translation adjustments, net of tax (77) 116
Other comprehensive income / (loss), net of tax (77) 116
Comprehensive income 3,376 1,054
Less: comprehensive income attributable to the non-controlling interest 1,906 691
Comprehensive income attributable to Cohen & Company Inc. 1,470 363
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 (718) (173)
Cohen Co Including Noncontrolling Interest [Member]    
Non-operating income (expense)    
Net income 4,171 1,111
Enterprise net income 4,171 1,111
Comprehensive income:    
Net income (loss) 4,171 1,111
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] 2,679 782
New Issue and Advisory [Member]    
Revenues    
Revenues, total 45,711 20,164
Revenue from Contract with Customer, Excluding Assessed Tax 45,711 20,164
Asset Management [Member]    
Revenues    
Revenues, total 2,419 2,020
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,419 $ 2,020
[1] All potentially dilutive securities were included in the diluted per share calculations.
[2] The units of membership interests in the Operating LLC (“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.