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Side-by-side financial comparison of Silvercrest Asset Management Group Inc. (SAMG) and System1, Inc. (SST). Click either name above to swap in a different company.
System1, Inc. is the larger business by last-quarter revenue ($51.9M vs $32.0M, roughly 1.6× Silvercrest Asset Management Group Inc.). Silvercrest Asset Management Group Inc. runs the higher net margin — -0.4% vs -26.0%, a 25.6% gap on every dollar of revenue. On growth, Silvercrest Asset Management Group Inc. posted the faster year-over-year revenue change (-0.0% vs -31.3%). Over the past eight quarters, Silvercrest Asset Management Group Inc.'s revenue compounded faster (2.7% CAGR vs -21.8%).
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
SAMG vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $32.0M | $51.9M |
| Net Profit | $-120.0K | $-13.5M |
| Gross Margin | — | 41.0% |
| Operating Margin | -2.8% | -33.6% |
| Net Margin | -0.4% | -26.0% |
| Revenue YoY | -0.0% | -31.3% |
| Net Profit YoY | -107.4% | 4.8% |
| EPS (diluted) | $0.02 | $-3.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $32.0M | $51.9M | ||
| Q3 25 | $31.3M | $61.6M | ||
| Q2 25 | $30.7M | $78.1M | ||
| Q1 25 | $31.4M | $74.5M | ||
| Q4 24 | $32.0M | $75.6M | ||
| Q3 24 | $30.4M | $88.8M | ||
| Q2 24 | $31.0M | $94.6M | ||
| Q1 24 | $30.3M | $84.9M |
| Q4 25 | $-120.0K | $-13.5M | ||
| Q3 25 | $618.0K | $-18.5M | ||
| Q2 25 | $1.9M | $-17.5M | ||
| Q1 25 | $2.5M | $-15.9M | ||
| Q4 24 | $1.6M | $-14.2M | ||
| Q3 24 | $2.3M | $-23.6M | ||
| Q2 24 | $2.7M | $-26.4M | ||
| Q1 24 | $3.0M | $-10.5M |
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | — | 42.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | 21.9% |
| Q4 25 | -2.8% | -33.6% | ||
| Q3 25 | 4.3% | -25.3% | ||
| Q2 25 | 13.2% | -20.4% | ||
| Q1 25 | 15.4% | -17.6% | ||
| Q4 24 | 6.1% | -15.7% | ||
| Q3 24 | 14.6% | -24.6% | ||
| Q2 24 | 17.1% | -30.8% | ||
| Q1 24 | 19.5% | -30.4% |
| Q4 25 | -0.4% | -26.0% | ||
| Q3 25 | 2.0% | -30.1% | ||
| Q2 25 | 6.3% | -22.4% | ||
| Q1 25 | 7.9% | -21.3% | ||
| Q4 24 | 5.1% | -18.7% | ||
| Q3 24 | 7.4% | -26.6% | ||
| Q2 24 | 8.6% | -27.9% | ||
| Q1 24 | 9.9% | -12.4% |
| Q4 25 | $0.02 | $-3.58 | ||
| Q3 25 | $0.07 | $-2.30 | ||
| Q2 25 | $0.21 | $-2.23 | ||
| Q1 25 | $0.26 | $-0.21 | ||
| Q4 24 | $0.16 | $-3.41 | ||
| Q3 24 | $0.24 | $-3.37 | ||
| Q2 24 | $0.28 | $-3.80 | ||
| Q1 24 | $0.32 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $44.1M | $86.9M |
| Total DebtLower is stronger | — | $305.1M |
| Stockholders' EquityBook value | $50.3M | $30.5M |
| Total Assets | $166.6M | $405.0M |
| Debt / EquityLower = less leverage | — | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $44.1M | $86.9M | ||
| Q3 25 | $36.1M | $54.6M | ||
| Q2 25 | $30.0M | $63.6M | ||
| Q1 25 | $36.3M | $43.9M | ||
| Q4 24 | $68.6M | $63.6M | ||
| Q3 24 | $58.1M | $69.1M | ||
| Q2 24 | $49.9M | $75.7M | ||
| Q1 24 | $39.7M | $69.9M |
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M | ||
| Q1 24 | — | $268.6M |
| Q4 25 | $50.3M | $30.5M | ||
| Q3 25 | $58.9M | $42.7M | ||
| Q2 25 | $64.6M | $58.2M | ||
| Q1 25 | $80.0M | $67.2M | ||
| Q4 24 | $80.7M | $80.3M | ||
| Q3 24 | $84.6M | $90.3M | ||
| Q2 24 | $85.3M | $109.4M | ||
| Q1 24 | $83.9M | $131.7M |
| Q4 25 | $166.6M | $405.0M | ||
| Q3 25 | $157.6M | $385.2M | ||
| Q2 25 | $152.7M | $429.2M | ||
| Q1 25 | $159.9M | $419.2M | ||
| Q4 24 | $194.4M | $459.1M | ||
| Q3 24 | $184.2M | $479.3M | ||
| Q2 24 | $177.6M | $511.3M | ||
| Q1 24 | $170.2M | $521.1M |
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× | ||
| Q1 24 | — | 2.04× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $18.6M | $-10.6M |
| Free Cash FlowOCF − Capex | $15.0M | — |
| FCF MarginFCF / Revenue | 46.9% | — |
| Capex IntensityCapex / Revenue | 11.4% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $17.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.6M | $-10.6M | ||
| Q3 25 | $14.6M | $-2.1M | ||
| Q2 25 | $13.8M | $24.5M | ||
| Q1 25 | $-24.7M | $-15.9M | ||
| Q4 24 | $21.6M | $772.0K | ||
| Q3 24 | $13.3M | $-5.0K | ||
| Q2 24 | $16.0M | $10.0M | ||
| Q1 24 | $-24.1M | $-16.0M |
| Q4 25 | $15.0M | — | ||
| Q3 25 | $13.8M | — | ||
| Q2 25 | $13.4M | — | ||
| Q1 25 | $-25.1M | $-16.0M | ||
| Q4 24 | $19.9M | — | ||
| Q3 24 | $12.9M | $-36.0K | ||
| Q2 24 | $15.6M | — | ||
| Q1 24 | $-24.7M | — |
| Q4 25 | 46.9% | — | ||
| Q3 25 | 44.1% | — | ||
| Q2 25 | 43.6% | — | ||
| Q1 25 | -80.0% | -21.5% | ||
| Q4 24 | 62.2% | — | ||
| Q3 24 | 42.4% | -0.0% | ||
| Q2 24 | 50.4% | — | ||
| Q1 24 | -81.6% | — |
| Q4 25 | 11.4% | 0.0% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 1.5% | 0.0% | ||
| Q1 25 | 1.3% | 0.1% | ||
| Q4 24 | 5.3% | 0.0% | ||
| Q3 24 | 1.2% | 0.0% | ||
| Q2 24 | 1.1% | 0.0% | ||
| Q1 24 | 2.0% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 23.62× | — | ||
| Q2 25 | 7.22× | — | ||
| Q1 25 | -10.01× | — | ||
| Q4 24 | 13.34× | — | ||
| Q3 24 | 5.90× | — | ||
| Q2 24 | 6.00× | — | ||
| Q1 24 | -8.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SAMG
| Investment Advisory Management And Administrative Service | $30.7M | 96% |
| Tax And Family Office Services | $1.2M | 4% |
SST
Segment breakdown not available.
