MILE - Cohen trades higher premarket on Q1 revenue rally

Cohen (COHN) trades 7.9% higher premarket after Q1 revenue multiplied more than four times to $102.68M mainly driven by closing of the company's second sponsored insurance SPAC, INSU Acquisition II, in February 2021, which generated $73.2M of principal transactions revenue in Q1.Net income stood at $9.4M or $6.98/share compared to net loss of $3.1M or -$2.70/share in year ago quarter.As of Mar. 31, 2021, total equity stood at $154.7M, compared to $101.4M as of Dec. 31, 2020.During the quarter, INSU Acquisition II completed its merger with Metromile (MILE), a digital insurance platform and pay-by-mile auto insurer, contributing $33.4M to its adjusted pre-tax income.Adjusted pre-tax income was $37.6M, or $7.52/share compared to  adjusted pre-tax loss of -$4.1M, or -$1.04/share.Previously: Cohen & Company reports Q1 results

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Cohen trades higher premarket on Q1 revenue rally