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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Net trading $ 7,491 $ 7,966 $ 23,117 $ 30,365
Principal transactions and other income (loss) 595 (1,192) 10,440 (26,157)
Total revenues 17,121 23,465 48,517 31,937
Operating expenses        
Compensation 15,219 15,227 35,757 41,320
Business development, occupancy, equipment 1,268 1,234 3,887 3,777
Subscriptions, clearing, and execution 2,409 2,112 6,877 6,025
Professional fee and other operating 2,189 1,905 6,151 5,593
Depreciation and amortization 140 139 433 414
Total operating expenses 21,225 20,617 53,105 57,129
Operating income (loss) (4,104) 2,848 (4,588) (25,192)
Non-operating income (expense)        
Interest expense, net (1,685) (1,346) (4,907) (3,803)
Income (loss) from equity method affiliates (702) 618 (1,608) (14,530)
Income (loss) before income tax expense (benefit) (6,491) 2,120 (11,103) (43,525)
Income tax expense (benefit) (755) 1,761 5,379 3,534
Net income (loss) (5,736) 359 (16,482) (47,059)
Net income (loss) (5,736) 359 (16,482) (47,059)
Net income / (loss) attributable to Cohen & Company Inc. $ (423) $ (919) $ (9,661) $ (10,388)
Basic (loss) per common share (in dollars per share) $ (0.28) $ (0.64) $ (6.4) $ (7.33)
Weighted average shares outstanding-basic (in shares) 1,521,856 1,428,883 1,510,498 1,417,358
Diluted (loss) per common share (in dollars per share) $ (0.28) $ (0.64) $ (6.4) $ (7.33)
Weighted average shares outstanding-diluted (in shares) 5,536,106 1,428,883 1,510,498 1,417,358
Comprehensive income (loss)        
Net income (loss) $ (5,736) $ 359 $ (16,482) $ (47,059)
Other comprehensive (loss) item:        
Foreign currency translation adjustments, net of tax of $0 (77) (127) (22) (392)
Other comprehensive (loss), net of tax of $0 (77) (127) (22) (392)
Comprehensive income (loss) (5,813) 232 (16,504) (47,451)
Less: comprehensive income (loss) attributable to the non-controlling interest (5,369) 1,184 (6,835) (36,958)
Comprehensive (loss) attributable to Cohen & Company Inc. (444) (952) (9,669) (10,493)
Non-controlling Interest of Operating LLC [Member]        
Non-operating income (expense)        
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC 1,936 (109) 8,536 (18,980)
Cohen Co Including Noncontrolling Interest [Member]        
Non-operating income (expense)        
Net income (loss) (7,672) 468 (25,018) (28,079)
Less: Net income (loss) attributable to the non-convertible non-controlling interest of the Operating LLC (7,249) 1,387 (15,357) (17,691)
Net income (loss) (7,672) 468 (25,018) (28,079)
Comprehensive income (loss)        
Net income (loss) (7,672) 468 (25,018) (28,079)
Asset Management [Member]        
Revenues, total 1,788 3,456 5,418 7,243
New Issue and Advisory [Member]        
Revenues, total $ 7,247 $ 13,235 $ 9,542 $ 20,486