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Cohen (COHN) Q2 2025 earnings results (second quarter 2025)

10-Q filed Aug 4, 2025

Cohen (COHN) reported revenue of $59.9M for the second quarter 2025 (Q2 2025), +454% from a year earlier and +108% from the quarter before. Operating margin was 12.5%, net earnings $1.4M (2.4% of revenue).

Revenue$59.9M
Year over year+454%
Quarter over quarter+108%
Operating margin12.5%
Net earnings$1.4M

Cohen, Q2 2025: revenue $59.9M (+454% year over year), operating margin 12.5%, net earnings $1.4M, operating cash flow $13.3M. The chart follows the revenue to costs, profit and cash.

Q2 2025AmountQ/QY/Y
Revenue$59.9M+108%+454%
Operating profit$7.5M70×—
Net earnings$1.4M+328%—
Operating cash flow$13.3M——
Free cash flow$12.9M——

What changed

Revenue was $59.9M in Q2 2025, up 454% year over year and up 108% from the previous quarter.

Operating profit was $7.5M, a 12.5% margin (up 71.5 points year over year). Total costs grew 205% against revenue growth of 454%. Net earnings were $1.4M. The effective tax rate was 14.3%.

Operating cash flow was $13.3M, 288% of net income including minority interests. Non-cash charges added back $172K of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items added $7.5M. Capital expenditures of $413K left free cash flow of $12.9M.

Questions

What was Cohen's revenue in the second quarter 2025?

Cohen (COHN) reported revenue of $59.9M for the second quarter 2025 (Q2 2025), +454% from a year earlier and +108% from the quarter before.

Was Cohen profitable in the second quarter 2025?

Operating profit was $7.5M (12.5% of revenue) and net earnings $1.4M.

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Source: Cohen 10-Q on SEC EDGAR.