Silvercrest Q2 Earnings: Net Income Plunges 91% as Costs Surge and Cash Dwindles
SAMG is trading near its 52-week low of $9.57 (3.4% above the low).
Summary
Silvercrest Asset Management reported Q2 2026 net income of just $170K attributable to shareholders, down 91% year-over-year, as rising compensation and professional fees crushed margins. Cash fell to $20.7M and debt rose to $9.5M, while the stock languishes near $9.90.
Key Events · Earnings and Guidance · SAMG
-
Net Income Collapses
Net income attributable to Silvercrest fell to $170K in Q2 2026 from $1.9M in Q2 2025, a 91% decline, as total expenses rose 12% to $29.8M.
-
Cash Halved, Debt Doubles
Cash and equivalents dropped to $20.7M from $44.1M at year-end 2025, while borrowings under the credit facility increased to $9.5M from $4.0M.
-
Margin Compression
Adjusted EBITDA margin fell to 11.2% from 18.7% a year ago, driven by a $1.7M increase in compensation and a $1.5M rise in general and administrative costs.
-
AUM Growth Offset by Outflows
Discretionary AUM rose to $24.7B from $23.7B, but net client outflows were $1.1B for the quarter, partially offsetting market appreciation of $2.4B.
Analysis · SAMG · Finance
The core advisory franchise is generating almost no profit for public shareholders after partner payouts, a stark reality underscored by Silvercrest's Q2 2026 net income attributable to shareholders collapsing to $170K from $1.9M a year ago. A 12% jump in expenses overwhelmed essentially flat revenue, while cash reserves have been cut in half since year-end and borrowings more than doubled to $9.5M. With the stock trading near its 52-week low, this report confirms a sharp deterioration in the earnings power of the business.
At the time of this filing, SAMG was trading at $9.90 on NASDAQ in the Finance sector, with a market capitalization of approximately $116.9M. The 52-week trading range was $9.57 to $16.99. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.