SAMG earnings analysis
What we found in SAMG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Silvercrest Asset Management Group Inc. reported a Q1 2026 revenue of $31.4 million and diluted EPS of $0.12, both of which fell short of expectations. Despite a slight year-over-year increase in assets under management of 1.1%, the company faces challenges including net client outflows, leading to a significant increase in operating expenses.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Flat Year-Over-Year
- Revenue remained flat at $31.4 million, compared to $31.4 million in Q1 2025.
- Substantial EPS Decline
- Diluted EPS decreased to $0.12 in Q1 2026 from $0.26 in the same quarter last year.
- Increase in Total Expenses
- Total expenses rose by 13.5%, increasing from $26.6 million in Q1 2025 to $30.1 million in Q1 2026.
- AUM Decrease Despite Yearly Growth
- Assets under management decreased by 3.5% from the prior quarter to $35.7 billion as of March 31, 2026.
- Cash Position Significantly Reduced
- Cash and cash equivalents dropped from $44.1 million at year-end 2025 to $11.6 million by March 31, 2026.
- Free Cash Flow Impact
- Free cash flow was negative $30.7 million for Q1 2026, a deterioration from negative $24.7 million in Q1 2025.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Net Client Outflows
- Net client outflows totaled $1.7 billion, significantly affecting AUM and revenue.
- Increased Compensation Costs
- Compensation and benefits expenses rose by 12.0%, totaling $21.1 million in Q1 2026.
- Dependence on Performance Fees
- Performance fees remain a vital income source, impacted by AUM declines and market performance.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.12
- Segment
- Wealth Management
- Segment
- Family Office Services
What they said about what is next.
Management anticipates challenges due to ongoing net client outflows and expenses increasing, but exact guidance not provided.
The filing reads worse than the one before it.
What came before.
- 10-K · March 16, 2026
- Silvercrest Asset Management Group Inc. reported a modest increase in total revenue to $125.3 million for the year ending December 31, 2025, up 1.3% from the previous year, driven primarily by management and advisory…
- 10-Q · October 31, 2025
- Silvercrest Asset Management Group Inc. reported Q3 2025 revenues of $31.3 million, a 2.9% increase from Q3 2024, although it fell short of the consensus expectations of $32.3 million. EPS of $0.07 marked a significant…
- 10-Q · July 31, 2025
- Silvercrest Asset Management Group Inc. reported Q2 2025 revenue of $30.67 million and diluted EPS of $0.25, both falling short of consensus estimates by about $0.57 million and $0.05 per share respectively. While total…
- 10-Q · May 8, 2025
- Silvercrest Asset Management Group Inc. reported a Q1 2025 revenue of $31.4 million, reflecting a 3.7% increase from Q1 2024. Despite this growth, the company faced challenges, as diluted EPS fell to $0.26, down from…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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