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Cowen Inc. (COWN) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Cowen Inc.

CIK: 1466538 Ticker: COWN


cowenlogo1a06.jpg
Press Release


COWEN ANNOUNCES FOURTH QUARTER AND FULL YEAR 2018 FINANCIAL RESULTS

Achieved Record Revenue in 2018

Continued Strength in Investment Banking and Brokerage

New York, NY - February 14, 2019 - Cowen Inc. (NASDAQ: COWN) (“Cowen” or “the Company”) today announced its operating results for the fourth quarter and full year ended December 31, 2018.

GAAP

Full year 2018 revenue rose 47% to $966.9 million. Fourth quarter 2018 revenue was $259.9 million
Net income attributable to common stockholders was $36.0 million, or $1.17 per diluted common share for the full year 2018. Fourth quarter 2018 net income was $3.4 million or $0.11 per diluted common share

Economic Income (Non-GAAP)

Full year 2018 revenue increased 37% to $909.5 million from $666.2 million. For the fourth quarter 2018, revenue was $207.4 million
Economic income attributable to Cowen Inc. was $76.1 million for the full year 2018. For the fourth quarter 2018, economic income was $7.7 million
Economic income (loss) attributable to common stockholders was $69.3 million or $2.26 per common diluted share for the full year 2018. Fourth quarter 2018, economic income (loss) attributable to common stockholders was $6.0 million or $0.19 per diluted common share compared to an economic loss of $11.1 million or $(0.36) per diluted common share.

1

The following information was filed by Cowen Inc. (COWN) on Thursday, February 14, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Cowen Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Cowen Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Financial Condition
Consolidated Statements Of Financial Condition (Parenthetical)
Consolidated Statements Of Operations
Accounts Payable Accrued Expenses And Other Liabilities
Accounts Payable Accrued Expenses And Other Liabilities (Details)
Accounts Payable Accrued Expenses And Other Liabilities (Tables)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Acquisition
Acquisition (Narrative) (Details)
Acquisition (Pro Forma) (Details)
Acquisition (Tables)
Cash Collateral Pledged
Cash Collateral Pledged (Details)
Commission Management Payable
Commission Management Payable (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies Schedules Of Unfunded Commitments (Details)
Convertible Debt And Notes Payable
Convertible Debt And Notes Payable (Details)
Convertible Debt And Notes Payable (Tables)
Defined Contribution Plans
Defined Contribution Plans (Details)
Deposits With Clearing Organizations, Brokers And Banks
Deposits With Clearing Organizations, Brokers And Banks (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements For Operating Entities And Consolidated Funds
Fair Value Measurements For Operating Entities And Consolidated Funds (Tables)
Fair Value Measurements For Operating Entities And Consolidated Funds Assets And Liabilities At Fair Value On A Recurring Basis (Details)
Fair Value Measurements For Operating Entities And Consolidated Funds Carrying Value Disclosures (Details)
Fair Value Measurements For Operating Entities And Consolidated Funds Fair Value Inputs, Unobservable Inputs, Quantitative Information (Details)
Fair Value Measurements For Operating Entities And Consolidated Funds Unobservable Input Roll Forward (Details)
Fixed Assets
Fixed Assets (Details)
Fixed Assets (Tables)
Goodwill And Intangibles
Goodwill And Intangibles (Tables)
Goodwill And Intangibles Amortization Of Intangible Assets (Details) (Annual)
Goodwill And Intangibles Schedule Of Goodwill By Segment (Details) (Annual)
Goodwill And Intangibles Schedule Of Intangible Assets (Details) (Annual)
Guarantees And Off-Balance Sheet Arrangements
Guarantees And Off-Balance Sheet Arrangements (Details)
Guarantees And Off-Balance Sheet Arrangements Details (Tables)
Income Taxes
Income Taxes (Tables)
Income Taxes Deferred Tax Assets And Liabilities (Details)
Income Taxes Income Tax Expense (Details)
Income Taxes Income Tax Rate Reconciliation (Details)
Income Taxes Summary Of Operating Loss Carryforwards (Details)
Income Taxes Unrecognized Tax Benefits - Annual (Details)
Investments Of Operating Entities And Consolidated Funds
Investments Of Operating Entities And Consolidated Funds - (Tables)
Investments Of Operating Entities And Consolidated Funds - Derivatives (Details)
Investments Of Operating Entities And Consolidated Funds - Equity Method Investments - (Details)
Investments Of Operating Entities And Consolidated Funds - Indirect Concentration Of The Underlying Investments Held By Consolidated Funds (Details)
Investments Of Operating Entities And Consolidated Funds - Merger Master Derivatives (Details)
Investments Of Operating Entities And Consolidated Funds - Merger Master Narrative (Details)
Investments Of Operating Entities And Consolidated Funds - Other Investments (Details)
Investments Of Operating Entities And Consolidated Funds - Portfolio Funds - (Details)
Investments Of Operating Entities And Consolidated Funds - Securities Borrowed And Securities Loaned (Details)
Investments Of Operating Entities And Consolidated Funds - Securities Loaned Transactions By Remaining Contractual Maturity And Class Of Collateral Pledged (Details)
Investments Of Operating Entities And Consolidated Funds - Securities Owned At Fair Value (Details)
Investments Of Operating Entities And Consolidated Funds - Securities Sold, Not Yet Purchased (Details)
Investments Of Operating Entities And Consolidated Funds - Variable Interest Entities (Details)
Organization And Business
Organization And Business (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Revenues And Expenses
Receivable From And Payable To Customers
Receivable From And Payable To Customers (Details)
Receivables From And Payables To Brokers, Dealers And Clearing Organizations
Receivables From And Payables To Brokers, Dealers And Clearing Organizations (Details)
Receivables From And Payables To Brokers, Dealers And Clearing Organizations Receivables From Brokers, Dealers, And Clearing Organization (Tables)
Redeemable Non-Controlling Interests In Consolidated Subsidiaries And Funds
Redeemable Non-Controlling Interests In Consolidated Subsidiaries And Funds (Details)
Redeemable Non-Controlling Interests In Consolidated Subsidiaries And Funds (Tables)
Regulatory Requirements
Regulatory Requirements (Details)
Regulatory Requirements Regulatory (Tables)
Reinsurance
Reinsurance (Details)
Related Party Transactions
Related Party Transactions (Details)
Segment Reporting
Segment Reporting (Details)
Segment Reporting (Tables)
Segregated Cash
Segregated Cash (Details)
Share-Based Compensation And Employee Ownership Plans
Share-Based Compensation And Employee Ownership Plans (Tables)
Share-Based Compensation And Employee Ownership Plans Deferred Cash (Details)
Share-Based Compensation And Employee Ownership Plans Narrative (Details)
Share-Based Compensation And Employee Ownership Plans Restricted Shares And Restricted Stock Units (Details)
Share-Based Compensation And Employee Ownership Plans Sars (Details)
Share-Based Compensation And Employee Ownership Plans Stock Options (Details)
Significant Accounting Policies
Significant Accounting Policies (Tables)
Significant Accounting Policies - Annual (Details)
Significant Accounting Policies - Annual (Policies)
Stockholder's Equity
Stockholder's Equity (Tables)
Stockholders Equity - Annual (Details)
Subsequent Events
Subsequent Events - Narrative (Details)
Supplemental Financial Information (Details)
Ticker: COWN
CIK: 1466538
Form Type: 10-K Annual Report
Accession Number: 0001466538-19-000018
Submitted to the SEC: Wed Mar 06 2019 1:12:27 PM EST
Accepted by the SEC: Thu Mar 07 2019
Period: Monday, December 31, 2018
Industry: Security Brokers Dealers And Flotation Companies

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