Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2209

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 4
Chunk 2209
---
 & Company Inc. 
      
     $
     (129
     )
      
     $
     (5,113
     )
      
     $
     4,984

     97
     %

﻿ 

Revenues 

﻿ 

Revenues decreased by $3,383, or 4%, to $79,598 for the year ended December 31, 2024, as compared to $82,981 for the year ended December 31, 2023. As discussed in more detail below, the change was comprised of (i) an increase of $5,483 in net trading revenue; (ii) an increase of $1,672 in asset management revenue; (iii) an increase of $35,158 in new issue and advisory revenue; and (iv) a decrease of $45,696 in principal transactions and other income.

﻿   

      43

Net Trading 

﻿ 

Net trading revenue increased by $5,483, or 18%, to $36,409 for the year ended December 31, 2024, as compared to $30,926 for the year ended December 31, 2023.  The following table shows the detail by trading group.

﻿

      NET TRADING 

      (Dollars in Thousands) 

      Year Ended December 31, 

      2024 

      2023 

      Change 

      Mortgage 
      
     $
     5,207

     $
     (1,523
     )
      
     $
     6,730

      Matched book repo 

     15,152

     16,315

     (1,163
     )

      High yield corporate 

     3,318

     4,768

     (1,450
     )

      Investment grade corporate 

     (56
     )

     (420
     )

     364

      Wholesale and other 

     12,788

     11,786

     1,002

      Total 
      
     $
     36,409

     $
     30,926

     $
     5,483

﻿ 

Our net trading revenue includes unrealized gains on our trading investments, as of the applicable measurement date, which may never be realized due to changes in market or other conditions not in our control.  This may adversely affect the ultimate value realized