Board Declares Quarterly Dividend of $0.25 per Share and Special Dividend of $0.70 per Share Revenue of $102.7 Million in Fourth Quarter 2025 and $275.6 Million in Full Year 2025 Net Income Attributable to Cohen & Company Inc. of $8.1 Million, or $1.48 per Diluted Share, in Fourth Quarter 2025 and $14.4 Million, or $4.35 per Diluted Share, in Full Year 2025 Adjusted Pre-Tax Income of $18.3 Million, or $2.97 per Diluted Share, in Fourth Quarter 2025 and $41.4 Million, or $6.92 per Diluted Share, in Full Year 2025 PHILADELPHIA and NEW YORK, March 06, 2026 (GLOBE NEWSWIRE) -- Cohen & Company Inc. (NYSE American: COHN) today reported financial results for its fourth quarter and full year ended December 31, 2025. Summary Operating Results Three Months Ended Twelve Months Ended ($ in thousands) 12/31/25 9/30/25 12/31/24 12/31/25 12/31/24 Investment banking and new issue $ 54,704 $ 68,606 $ 8,194 $ 187,608 $ 40,778 Net trading 13,819 13,560 8,947 47,347 36,409 Asset management 2,681 1,948 2,067 8,817 9,009 Principal transactions and other revenue 31,536 99 (667 ) 31,792 (6,598 ) Total revenues 102,740 84,213 18,541 275,564 79,598 Compensation and benefits 57,845 53,684 12,935 177,518 56,388 Non-compensation operating expenses 14,850 8,769 11,109 38,639 31,233 Operating income (loss) 30,045 21,760 (5,503 ) 59,407 (8,023 ) Interest expense, net (1,460 ) (1,472 ) (1,474 ) (5,876 ) (5,821 ) Gain on sale of management contracts - 1,897 - 2,734 - Income (loss) from equity method affiliates (5,081 ) (12,663 ) (662 ) (16,763 ) 21,704 Income (loss) before income tax expense (benefit) 23,504 9,522 (7,639 ) 39,502 7,860 Income tax expense (benefit) (2,275 ) 733 (764 ) (632 ) (329 ) Net income (loss) 25,779 8,789 (6,875 ) 40,134 8,189 Less: Net income (loss) attributable to the non-convertible non-controlling interest 5,254 (6,853 ) 66 (1,913 ) 8,675 Enterprise net income (loss) 20,525 15,642 (6,941 ) 42,047 (486 ) Less: Net income (loss) attributable to the convertible non-controlling interest 12,424 11,049 (4,988 ) 27,616 (357 ) Net income (loss) attributable to Cohen & Company Inc. $ 8,101 $ 4,593 $ (1,953 ) $ 14,431 $ (129 ) Fully diluted net income (loss) per share $ 1.48 $ 2.58 $ (1.21 ) $ 4.35 $ (0.08 ) Adjusted pre-tax income (loss) (1) $ 18,250 $ 16,375 $ (7,705 ) $ 41,415 $ (815 ) Fully diluted adjusted pre-tax income (loss) per share (1) $ 2.97 $ 2.71 $ (1.32 ) $ 6.92 $ (0.14 ) (1) Adjusted pre-tax income (loss) and adjusted pre-tax income (loss) per share are not measures recognized under U.S. generally accepted accounting principles (“GAAP”).
