$SAMG

Silvercrest Asset Management Group Inc.

CIK:0001549966|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 30,783	$ 30,673	$ 62,189	$ 62,065
Expenses
Compensation and benefits	20,485	18,805	41,629	37,686
General and administrative	9,340	7,827	18,340	15,501
Total expenses	29,825	26,632	59,969	53,187
Income before other (expense) income, net	958	4,041	2,220	8,878
Other (expense) income, net
Other (expense) income, net	30	20	8	27
Interest income	53	163	131	436
Interest expense	(190)	(15)	(379)	(30)
Unrealized gain on investments	166	0	87	0
Total other (expense) income, net	59	168	(153)	433
Income before provision for income taxes	1,017	4,209	2,067	9,311
Provision for income taxes	548	1,060	1,065	2,234
Net income	469	3,149	1,002	7,077
Less: net income attributable to non-controlling interests	(299)	(1,231)	(595)	(2,690)
Net income attributable to Silvercrest	$ 170	$ 1,918	$ 407	$ 4,387
Net income per share
Basic	$ 0.02	$ 0.21	$ 0.05	$ 0.47
Diluted	$ 0.02	$ 0.21	$ 0.05	$ 0.47
Weighted average shares outstanding
Basic	7,689,077	9,095,966	7,685,929	9,337,530
Diluted	7,737,556	9,124,278	7,733,452	9,370,217
Management and Advisory Fees
Revenue
Total revenue	$ 29,642	$ 29,515	$ 59,927	$ 59,783
Family Office Services
Revenue
Total revenue	$ 1,141	$ 1,158	$ 2,262	$ 2,282

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income	$ 1,002	$ 7,077
Adjustments to reconcile net income to net cash used in operating activities:
Equity-based compensation	1,103	855
Depreciation and amortization	2,232	2,118
Deferred income taxes	647	890
Non-cash interest on notes receivable from partners	(12)	(9)
Interest on notes payable	(23)	0
Non-cash lease expense	1,416	905
Distributions received from investment funds	873	1,190
Unrealized (gain) loss on investments	(87)	0
Cash flows due to changes in operating assets and liabilities:
Receivables and Due from Silvercrest Funds	2,377	(834)
Prepaid expenses and other assets	(989)	(790)
Accounts payable and accrued expenses	(153)	986
Accrued compensation	(23,433)	(22,054)
Operating lease liabilities	(1,682)	(1,199)
Net cash used in operating activities	(16,729)	(10,865)
Cash Flows from Investing Activities
Acquisition of furniture, equipment and leasehold improvements	(1,138)	(872)
Investment purchased	(1,899)	0
Net cash used in investing activities	(3,037)	(872)
Cash Flows from Financing Activities
Repayments of notes payable	(500)	0
Borrowings under credit facility	6,000	0
Principal payments on financing leases	(71)	(65)
Distributions to partners	(3,988)	(4,230)
Dividends paid on Class A common stock	(3,202)	(3,668)
Purchase of shares of Class A common stock of Silvercrest Asset Management Group Inc.	(1,871)	(18,948)
Payments from partners on notes receivable	173	76
Net cash used in financing activities	(3,459)	(26,835)
Effect of exchange rate changes on cash and cash equivalents	(103)	2
Net Decrease in Cash and Cash Equivalents	(23,328)	(38,570)
Cash and cash equivalents, beginning of period	44,069	68,611
Cash and cash equivalents, end of period	20,741	30,041
Income taxes
Federal	0	279
Total income taxes paid	195	931
Interest	339	6
Supplemental Disclosures of Non-cash Financing and Investing Activities
Notes receivable from new partners issued for capital contributions to Silvercrest L.P.	160	410
Recognition of deferred tax assets as a result of share conversions	(49)	(620)
Accrued dividends	27	12
Purchase of shares of Class A common stock excise tax accrual	19	189
Assets acquired under capital leases	67	0
New York State/City
Income taxes
State	185	485
Other
Income taxes
State	$ 10	$ 167

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 20,741	$ 44,069
Investments	2,144	1,030
Receivables, net	8,827	11,788
Furniture, equipment and leasehold improvements, net	7,609	7,715
Goodwill	63,675	63,675
Operating lease assets	15,960	17,376
Finance lease assets	317	322
Intangible assets, net	13,535	14,451
Deferred tax asset	822	1,494
Prepaid expenses and other assets	5,406	4,361
Total assets	139,946	166,607
Liabilities and Equity
Accounts payable and accrued expenses	4,217	4,282
Accrued compensation	19,988	43,421
Borrowings under credit facility	9,500	4,023
Operating lease liabilities	17,943	19,625
Finance lease liabilities	326	330
Deferred tax and other liabilities	10,126	10,042
Total liabilities	62,100	81,723
Commitments and Contingencies (Note 9)
Equity
Preferred Stock, par value $0.01, 10,000,000 shares authorized; none issued and outstanding
Additional Paid-In Capital	59,451	58,875
Treasury stock, at cost, 3,175,021 and 3,055,920 shares as of June 30, 2026 and December 31, 2025, respectively	(52,316)	(50,426)
Accumulated other comprehensive income (loss)	(170)	(67)
Retained earnings	38,922	41,744
Total Silvercrest Asset Management Group Inc.’s equity	46,035	50,274
Non-controlling interests	31,811	34,610
Total equity	77,846	84,884
Total liabilities and equity	139,946	166,607
Silvercrest Funds
Assets
Due from Silvercrest Funds	$ 910	$ 326
Other Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration]	us-gaap:RelatedPartyMember	us-gaap:RelatedPartyMember
Class A Common Stock
Equity
Common stock, value	$ 109	$ 108
Class B Common Stock
Equity
Common stock, value	$ 39	$ 40