Logotype for Cohen & Company Inc

Cohen & Company (COHN) investor relations material

Cohen & Company Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Cohen & Company Inc
Q2 2025 earnings summary31 Jul, 2025

Executive summary

  • Revenue for the six months ended June 30, 2025, rose 202% year-over-year to $88.6M, driven by strong new issue and advisory revenue and improved principal transactions results.

  • Second quarter 2025 revenue reached $59.9M, with net income attributable to shareholders of $1.4M ($0.81 per diluted share), reversing a loss from the prior year quarter.

  • CCM generated $37.4M in new issue and advisory revenue across 25 clients, with a robust pipeline for the second half of the year.

  • Launched a SPAC-focused equity trading desk, generating over $1.4M in its first quarter.

  • Entered a business combination agreement with ProCap DTC/BTC, expected to close by year-end, with the combined entity to hold up to $1B in Bitcoin.

Financial highlights

  • Adjusted pretax income was $5.5M, up from $1.3M in the prior quarter and an adjusted pretax loss of $8.6M in the prior year quarter.

  • Net trading revenue reached $10.8M in Q2, up $1.5M sequentially and $2M year-over-year; for the six months, net trading revenue was $20.0M, up 7% year-over-year.

  • New issue and advisory revenue jumped 129% to $70.7M for the six months, reflecting strong investment banking activity.

  • Compensation and benefits expense was $44.3M in Q2, up from both prior quarters due to revenue fluctuations and variable incentive compensation.

  • Operating expenses rose 107% to $81.0M for the six months, mainly due to higher compensation and benefits.

Outlook and guidance

  • Entering the second half of the year with strong momentum and a robust pipeline in investment banking and SPAC activities.

  • Asset management revenue is expected to decline in future quarters following the sale of CDO management contracts.

  • Management expects margin pressures in fixed income brokerage and ongoing headwinds from interest rate and market volatility.

  • The Board will continue to evaluate the dividend policy each quarter based on operating results and capital needs.

Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Cohen & Company earnings date

Logotype for Cohen & Company Inc
Q3 20253 Nov, 2025
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Cohen & Company earnings date

Logotype for Cohen & Company Inc
Q3 20253 Nov, 2025

The essential earnings season companion

The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Cohen & Company Inc. (NYSE American: COHN) is a financial services firm established in 1999, initially focusing on small-cap financial institutions. Over the years, the company's focus has evolved towards debt financing, securitization, and primarily asset management, alongside niche segments of fixed income trading. Cohen & Company operates through various subsidiaries, engaging in U.S. and European Asset Management, U.S. and European Capital Markets, Loan Trading, and Principal Investing. The company is headquartered in Philadelphia, Pennsylvania, and its shares are listed on the NYSE.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage