Silvercrest profit plunges 86% as expenses surge despite flat revenue and modest AUM growth

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Net income collapsed to $0.5M from $3.9M year-over-year, with margin compressing from 12.5% to 1.7%. Adjusted EBITDA fell 43% to $3.7M as operating leverage deteriorated sharply.

  MD&A: Financial Results verify on EDGAR →
• high

  Compensation expense jumped 12% to $21.1M driven by merit raises, new hires in Ireland, higher bonus accruals ($1.2M), and severance ($0.4M). G&A rose 17% on professional fees and new Singapore office costs.

  MD&A: Operating Expenses verify on EDGAR →
• high

  Cash fell 74% to $11.6M from $44.1M at year-end as operating activities burned $30.7M. Company drew $6M on term loan, bringing debt to $10M, and extended maturity to 2028.

  MD&A: Liquidity verify on EDGAR →