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Sep 30
Silvercrest Q3 2025 Earnings Report
Silvercrest reported lower earnings and adjusted EBITDA as investments in growth initiatives impacted profitability.
Key Takeaways
Silvercrest posted modest revenue growth in Q3 2025, but net income declined due to higher compensation and strategic investment costs. AUM reached a record high of $37.6 billion, positioning the firm for future revenue gains.
Revenue grew to $31.3 million, driven by market appreciation.
Net income fell to $1.1 million due to increased compensation and investment in growth.
Adjusted EBITDA declined to $4.5 million, with a margin of 14.5%.
Discretionary AUM hit $24.3 billion, contributing to a total AUM record of $37.6 billion.
Silvercrest
Silvercrest
Silvercrest Revenue by Segment
Revenue by Segment
Management & Advisory Revenue
CapyFin.comFamily Office Services Revenue
CapyFin.com Forward Guidance
Silvercrest expects continued AUM growth with stable revenue trends, supported by strategic investments in global expansion and client acquisition.
Positive Outlook
- Record total AUM at $37.6 billion.
- Discretionary AUM increased $687 million sequentially.
- Organic client flows remained positive year-over-year.
- Investments in global marketing and headcount expected to fuel growth.
- Strong balance sheet with no debt and $36.1 million in cash.
Challenges Ahead
- Net income decreased due to rising expenses.
- Adjusted EBITDA margin declined from 20.9% to 14.5%.
- Compensation costs increased 16.8% YoY.
- Ongoing strategic investments will keep margins under pressure.
- Non-discretionary AUM growth dilutes average fee basis points.