Filing Flows › Cohen (COHN) › Q4 2025
Cohen (COHN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 6, 2026
Cohen (COHN) reported revenue of $103M for the fourth quarter 2025 (Q4 2025), +454% from a year earlier and +22% from the quarter before. Operating margin was 29.2%, net earnings $8.1M (7.9% of revenue).
Cohen, Q4 2025: revenue $103M (+454% year over year), operating margin 29.2%, net earnings $8.1M, operating cash flow −$2.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $103M | +22% | +454% |
| Operating profit | $30.0M | +38% | — |
| Net earnings | $8.1M | +76% | — |
| Operating cash flow | −$2.1M | -109% | -146% |
What changed
Revenue was $102.7M in Q4 2025, up 454% year over year and up 22% from the previous quarter.
Operating profit was $30.0M, a 29.2% margin (up 58.9 points year over year). Total costs grew 202% against revenue growth of 454%. Net earnings were $8.1M. The effective tax rate was -9.7%.
Operating cash flow was −$2.1M. Non-cash charges added back $197K of depreciation and amortization and $16.9M of share-based compensation. Working capital and other items used $45.0M. Capital expenditures of $431K exceeded it, leaving free cash flow of −$2.5M.
Questions
What was Cohen's revenue in the fourth quarter 2025?
Cohen (COHN) reported revenue of $103M for the fourth quarter 2025 (Q4 2025), +454% from a year earlier and +22% from the quarter before.
Was Cohen profitable in the fourth quarter 2025?
Operating profit was $30.0M (29.2% of revenue) and net earnings $8.1M.
Source: Cohen 10-K on SEC EDGAR.