Silvercrest Asset Management Group Inc. reported its second quarter 2025 results on July 31, 2025, achieving a record total Assets Under Management (AUM) of $36.7 billion at June 30, 2025, up 9.9% from $33.4 billion a year earlier. Discretionary AUM also rose by 9.7% year-over-year.
Despite the record AUM, GAAP revenue for the quarter edged down 1.0% to $30.7 million compared to the prior year, primarily due to a drop in the average annual management fee rate. This figure also fell short of analyst expectations of $30.7695 million.
Total expenses grew by 3.7% year-over-year, driven by increases in compensation and benefits (up 1.7%) and general and administrative expenses (up 8.8%). These increases were attributed to planned investments in global expansion, including a new Singapore office, marketing, and travel.
The higher expense growth relative to revenue led to margin compression, with the adjusted EBITDA margin falling to 18.7% from 23.3% in Q2 2024. Non-GAAP earnings per share (EPS) were $0.25, missing estimates by 16.7% and declining from $0.30 in Q2 2024.
In a positive development for shareholders, the company's Board of Directors approved a 5% increase in the quarterly dividend to $0.21 per share of Class A common stock on July 30, 2025. This follows the completion of a $12.0 million share repurchase in Q1 2025 and the authorization of a new $25.0 million buyback program on May 23, 2025.
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