Cohen & Co. reports Q2 adjusted EPS 94c vs ($1.51) last year

Reports Q2 revenue $59.871M vs $10.798M last year. Lester Brafman, Chief Executive Officer of Cohen & Company, said, “We are pleased with our second quarter results, which were driven by a strong performance from our full-service boutique investment banking operation, Cohen & Company Capital Markets (“CCM”). During the quarter, CCM generated $37.4 million in new issue and advisory revenue across 25 clients and is entering the second half of the year with strong momentum and a robust pipeline. In June 2025, our sponsored SPAC, Columbus Circle Capital Corp I, entered into a business combination agreement with ProCap BTC, a bitcoin-native financial services firm. As sponsor, we retained 2.1 million founder shares. Upon closing, which is expected to occur by the end of the year, the combined company will operate as ProCap Financial, Inc., and hold up to $1 billion in bitcoin on its balance sheet.”