Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2682

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 2682
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 the Vellar Purchase Agreement, the Company no longer had any investment in Vellar GP. Pursuant to the Vellar Purchase Agreement, the Operating LLC resigned as the managing member of Vellar GP, effective February 25, 2025.  In the first quarter of 2025, we expect to record a net loss of $404 related to Vellar GP which includes both the loss on sale and results of operations for the 2025 period prior to the sale.  
     
    Pursuant to the Vellar Transition Services Agreement, in exchange for The Operating LLC’s agreement to provide certain transitional services to Vellar GP, Vellar GP agreed to pay to The Operating LLC certain defined net revenue share amounts up to an aggregate of $4,234; and (ii) agreed to decrease the amount which The Operating LLC had previously agreed to pay to Vellar GP in connection with the funding of certain Vellar GP litigation expenses from $2,121 to $1,084.

      42

Consolidated Results of Operations 

﻿ 

The following section provides a comparative discussion of our consolidated results of operations for the specified periods. The period-to-period comparisons of financial results are not necessarily indicative of future results.

﻿ 

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

﻿ 

The following table sets forth information regarding our consolidated results of operations for the years ended December 31, 2024 and 2023.

     COHEN & COMPANY INC.

      CONSOLIDATED STATEMENTS OF OPERATIONS 

      (Dollars in Thousands) 

      Year Ended December 31, 

      Favorable / (Unfavorable) 

      2024 

      2023 

      $ Change 

      % Change 

      Revenues 

      Net trading 
      
     $
     36,409

     $
     30,926

     $
     5,483

     18
     %

      Asset management 

     9,009

     7,337

     1,672

     23
     %

      New issue and advisory 

     63,422

     28,264

     35,158

     124
     %

      Principal transactions and other income 

     (29,242
     )

     16,454

     (45,696
     )

     (278
     )%

      Total revenues 

     79,