en & pany (US:COHN)2025-05-01 12:23Financial Performance - Net income attributable to Cohen & Company Inc. was $0.3 million, or $0.19 per diluted share, for Q1 2025, compared to a net loss of $2.0 million, or $1.21 per diluted share, for Q4 2024[5]. - Total revenues for Q1 2025 were $28.7 million, up from $18.5 million in the prior quarter and $18.6 million in the prior year quarter[5]. - New issue and advisory revenue was $33.2 million for Q1 2025, an increase of $23.2 million from the prior quarter and $8.9 million from the prior year quarter[5]. - The company reported a net income of $938,000 for the quarter, a recovery from a net loss of $6,875,000 in the previous quarter[15]. - Basic earnings per share for the quarter was $0.19, compared to a loss of $1.20 per share in the previous quarter[15]. - Adjusted pre-tax income for the quarter was $1,250,000, compared to a loss of $7,705,000 in the previous quarter[19]. - Fully diluted adjusted pre-tax income per share was $0.22, recovering from a loss of $1.32 per share in the previous quarter[19]. Expenses and Liabilities - Compensation and benefits expense increased to $21.7 million in Q1 2025, up $8.7 million from the prior quarter and $6.8 million from the prior year quarter[5]. - Total operating expenses increased to $28,633,000 from $24,044,000 in the prior quarter, primarily driven by higher compensation and benefits expenses[15]. - Total liabilities increased to $892,390,000 from $880,866,000, reflecting higher payables to brokers and dealers[18]. Equity and Dividends - As of March 31, 2025, total equity was $85.7 million, down from $90.3 million as of December 31, 2024[11]. - The Board of Directors declared a quarterly dividend of $0.25 per share, payable on June 2, 2025[11]. Employee and Operations - The number of employees increased to 117 as of March 31, 2025, from 113 as of December 31, 2024[5]. - Cohen & Company launched a new SPAC-focused equity trading desk in April 2025 to leverage insights and capabilities from its investment banking operation[4]. Trading and Revenue Sources - Principal transactions and other revenue was negative $15.7 million for Q1 2025, compared to negative $2.5 million in the prior quarter[5]. - Net trading revenue was $9,211,000, up from $8,947,000 in the prior quarter, while asset management revenue decreased slightly to $2,020,000 from $2,067,000[15]. - New issue and advisory revenue surged to $33,239,000 from $10,075,000 in the previous quarter, indicating strong performance in this segment[15]. Assets - Total assets as of March 31, 2025, were $978,050,000, a slight increase from $971,149,000 at the end of the previous quarter[18].