Year Ended December 31,

2025

2024

2023

Net income / (loss) attributable to Cohen & Company Inc.

$

14,431

$

(129

)

$

(5,113

)

Add/ (deduct): Income / (loss) attributable to non-controlling interest attributable to Operating LLC membership (1)

27,616

(357

)

-

Add / (deduct): Adjustment (2)

(16,022

)

33

-

Net income / (loss) on a fully converted basis

$

26,025

$

(453

)

$

(5,113

)

Weighted average common shares outstanding - Basic

1,731,957

1,614,897

1,513,469

Unrestricted Operating LLC units of membership interests exchangeable into Cohen & Company Inc. shares (1)

4,122,929

4,060,719

-

Restricted units or shares

129,064

-

Weighted average common shares outstanding - Diluted

5,983,950

5,675,616

1,513,469

Net income / (loss) per common share - Basic

$

8.33

$

(0.08

)

$

(3.38

)

Net income / (loss) per common share - Diluted (3)

$

4.35

$

(0.08

)

$

(3.38

)