Silvercrest reports Q4 2022 revenue down 15.7% YoY; AUM declines 10.5% for year

Silvercrest Asset Management Group Inc.

Revenue $28.5M in Q4 2022 vs $33.8M in Q4 2021 (-15.7%); full year revenue $123.2M vs $131.6M (-6.4%).
GAAP net income $3.3M in Q4 ($0.22 per share); adjusted diluted EPS $0.15 in Q4 vs $0.58 in prior year.
Total AUM $28.9B at Dec 31, 2022, down 10.5% from $32.3B a year ago; discretionary AUM $20.9B, down 16.7%.
Adjusted EBITDA $4.4M in Q4 (15.6% margin) vs $13.0M (38.5% margin) in Q4 2021; full year $32.0M (26.0% margin).
Repurchased ~190,000 shares for $3.5M in Q4; OCIO initiative AUM $1.45B.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Silvercrest Asset Management Group Inc. reported the twelve months ended December 31, 2022 results: revenue $ 123,217, net income $ 30,793, EPS $ 1.92.

Period: the twelve months ended December 31, 2022
Revenue: $ 123,217
Net income: $ 30,793
EPS: $ 1.92
Result: reported results

Exact text from the filing

Revenue $ 28,492 $ 33,804 $ 123,217 $ 131,603 Income before other income (expense), net $ 4,121 $ 9,310 $ 38,562 $ 30,521 Net income $ 3,281 $ 8,596 $ 30,793 $ 24,946 Net income margin 11.5 % 25.4 % 25.0 % 19.0 % Net income attributable to Silvercrest $ 2,057 $ 5,083 $ 18,828 $ 14,693 Net income per basic and diluted share $ 0.22 $ 0.53 $ 1.92 $ 1.52

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Silvercrest Asset Management Group Inc. reported the three months ended December 31, 2022 results: revenue $28.5 million, net income $3.3 million, EPS $0.22.

Period: the three months ended December 31, 2022
Revenue: $28.5 million
Net income: $3.3 million
EPS: $0.22
Result: reported results

Exact text from the filing

Fourth Quarter 2022 Highlights • Total AUM of $28.9 billion, inclusive of discretionary AUM of $20.9 billion and non-discretionary AUM of $8.0 billion at December 31, 2022. • Revenue of $28.5 million. • U.S. Generally Accepted Accounting Principles (“GAAP”) consolidated net income and net income attributable to Silvercrest of $3.3 million and $2.1 million, respectively. • Basic and diluted net income per share of $0.22.

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Source: SEC EDGAR

accession 0000950170-23-005829

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