Every material Form 8-K StepStone has filed with the SEC since February 08, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
StepStone Group reported results for the quarter ended September 30, 2026, with total revenues of $773.1 million, up from $454.2 million a year earlier, and a GAAP net loss attributable to shareholders of $71.2 million, or $0.87 per share, compared with a loss of $366.1 million, or $4.66 per share, a year earlier. The company also declared a quarterly dividend of $0.33 per share, up from $0.28, payable December 15, 2026.
Total revenues of $773.1 million, up 70% from $454.2 million a year earlier; management and advisory fees, net, of $293.1 million, up 36%.
GAAP net loss attributable to StepStone Group Inc. of $71.2 million, or $0.87 per share, versus a loss of $366.1 million, or $4.66 per share, a year earlier.
Adjusted net income of $82.9 million, or $0.66 per share, versus $66.7 million, or $0.54 per share, a year earlier; fee-related earnings of $126.2 million versus $78.6 million.
Quarterly dividend of $0.33 per share, payable December 15, 2026, to holders of record as of November 30, 2026.
StepStone Group reported a first quarter fiscal 2027 GAAP net loss of $170.4 million for the quarter ended June 30, 2026, compared with a $12.0 million loss a year earlier. Total revenues rose 4% to $378.9 million, and fee revenues and fee-related earnings grew, but total performance fees fell 28%. The board also declared a $0.33 per share quarterly dividend.
GAAP net loss of $170.4 million, or $1.41 per share, versus a net loss of $12.0 million, or $0.49 per share, a year earlier
Total revenues of $378.9 million, up 4%; management and advisory fees, net of $269.2 million, up 27%
Total performance fees fell 28% to $109.7 million; fee-related earnings rose 30% to $105.6 million and ANI per share rose 20% to $0.48
Quarterly dividend of $0.33 per share, payable September 15, 2026, to holders of record as of August 31, 2026
StepStone Group reported results for the fourth quarter and fiscal year ended March 31, 2026. Revenue rose sharply, but the full-year GAAP net loss attributable to the company grew to $535.8 million from $179.6 million, driven by equity-based compensation of $1.74 billion, while fourth-quarter ANI per share fell to $0.57 from $0.68.
Q4 total revenues were $588.6 million, up 56% from $377.7 million; Q4 net loss attributable to StepStone narrowed to $7.8 million from $18.5 million.
Full-year total revenues were $1.99 billion, up 70%, while full-year net loss attributable to StepStone was $535.8 million, or $6.78 per share, versus $179.6 million, or $2.52 per share.
Full-year ANI per share rose 5% to $2.16; Q4 ANI per share fell 16% to $0.57, and Q4 fee-related earnings rose 12% to $105.3 million.
Board declared a $0.28 quarterly dividend and a $0.55 supplemental dividend per Class A share, payable June 30, 2026, to holders of record on June 15, 2026.
StepStone Group reported results for the third fiscal quarter ended December 31, 2025. Total revenues rose to $586.5 million from $339.0 million a year earlier, and the net loss narrowed to $162.4 million from $287.2 million, or $1.55 per share from $2.61. The company also declared a quarterly dividend of $0.28 per share, payable March 13, 2026.
Total revenues were $586.5 million, up 73% from $339.0 million in the same quarter a year earlier.
Net loss attributable to StepStone was $123.5 million, or $1.55 per share, compared with $192.0 million, or $2.61 per share, a year earlier.
Adjusted net income was $79.9 million, or $0.65 per share, compared with $52.7 million, or $0.44 per share, a year earlier.
Quarterly dividend of $0.28 per Class A share is payable March 13, 2026, to holders of record on February 27, 2026.
StepStone reported results for the quarter ended September 30, 2025, with total revenues up 67% to $454.2 million and management and advisory fees up 17% to $215.5 million. A GAAP net loss of $575.5 million, or $4.66 per share, compared with net income of $53.1 million a year earlier, reflecting equity-based compensation of $884.5 million, while adjusted net income rose 25% to $66.7 million.
Total revenues were $454.2 million versus $271.7 million a year earlier; total performance fees were $238.7 million.
GAAP net loss was $575.5 million, or $4.66 per share, versus net income of $53.1 million, or $0.26 per share; equity-based compensation was $884.5 million versus $37.3 million.
Adjusted net income rose to $66.7 million, or $0.54 per share, from $53.6 million, or $0.45 per share; fee-related earnings were $78.6 million, up 9%.
The board declared a quarterly dividend of $0.28 per share, up from $0.24, payable December 15, 2025, to holders of record on November 28, 2025.
StepStone Group reported results for the quarter ended June 30, 2025, its first fiscal 2026 quarter. Total revenues rose 95% to $364.3 million, but the company posted a net loss of $12.0 million, or $0.49 per share, compared with net income of $48.0 million, or $0.20 per share, a year earlier. Adjusted net income fell 15% to $48.5 million, and the company declared a $0.28 quarterly dividend.
Total revenues were $364.3 million, up from $186.4 million a year earlier, with total performance fees of $153.1 million.
Net loss attributable to StepStone was $38.4 million, or $0.49 per share, versus net income of $13.3 million a year earlier. Equity-based compensation was $188.7 million, versus $19.2 million.
Adjusted net income was $48.5 million, or $0.40 per share, down from $57.2 million, or $0.48 per share. Fee-related earnings rose 13% to $81.2 million.
The board declared a $0.28 per share quarterly dividend, payable September 15, 2025, to holders of record on August 29, 2025.
StepStone Group reported fourth-quarter and full fiscal 2025 results for the period ended March 31, 2025, and declared a $0.24 quarterly dividend plus a $0.40 supplemental dividend. Revenue grew in both periods, but GAAP results weakened: the company posted a net loss attributable to StepStone of $179.6 million for the year, compared with net income of $58.1 million a year earlier. Adjusted net income per share rose, which the company highlights as a measure of core operating performance.
Full-year total revenues were $1.17 billion, up 65% from $711.6 million; full-year GAAP diluted loss per share was $2.52, versus $0.91 of income in fiscal 2024.
Fourth-quarter total revenues were $377.7 million, up from $356.8 million; net loss attributable to StepStone was $18.5 million, versus $30.8 million of net income a year earlier.
Fourth-quarter adjusted net income per share was $0.68, up from $0.33; fee-related earnings were $94.1 million, up from $50.9 million.
Dividends are payable June 30, 2025, to holders of record as of June 13, 2025.
StepStone reported results for the quarter ended December 31, 2024, with total revenues of $339.0 million, compared with negative $14.6 million a year earlier. The GAAP net loss attributable to StepStone widened to $192.0 million, or $2.61 per diluted share, as equity-based compensation rose to $486.4 million, while non-GAAP measures such as fee-related earnings and adjusted net income grew, and the board declared a $0.24 quarterly dividend.
GAAP net loss attributable to StepStone was $192.0 million, or $2.61 per diluted share, versus a loss of $20.2 million, or $0.32 per share, a year earlier.
Equity-based compensation was $486.4 million, compared with $14.0 million in the prior-year quarter.
Adjusted revenues were $243.9 million, up 32%; fee-related earnings were $74.1 million, up 46%; ANI per share was $0.44 versus $0.37.
Board declared a $0.24 per share quarterly dividend, payable March 14, 2025, to holders of record on February 28, 2025.
StepStone reported results for the quarter ended September 30, 2024, its fiscal second quarter of 2025. Total revenues rose 42% year over year to $271.7 million and adjusted net income rose 78% to $53.6 million, while GAAP net income fell 10% to $53.1 million and diluted earnings per share dropped to $0.26 from $0.42. The company also declared a quarterly dividend of $0.24 per share, up from $0.21, payable December 13, 2024.
Total revenues were $271.7 million, up from $191.4 million a year earlier; total performance fees were $86.9 million versus $49.3 million.
GAAP net income attributable to StepStone Group Inc. was $17.6 million, compared with $26.2 million a year earlier.
Adjusted net income was $53.6 million ($0.45 per share), versus $30.2 million ($0.26 per share), and fee-related earnings were $72.3 million, up from $43.8 million.
The Board declared a $0.24 quarterly dividend per share, payable December 13, 2024, to holders of record on November 29, 2024; assets under management were $176.1 billion.
StepStone Group LP, the operating subsidiary of StepStone Group Inc., issued $175 million of 5.52% Series A senior notes maturing October 22, 2029, under a note purchase agreement dated October 22, 2024. The company plans to use the proceeds for general corporate purposes, including investments, debt repayment and distributions, which adds fixed debt obligations for the firm.
Principal amount: $175 million; interest at 5.52%, paid semi-annually starting April 22, 2025
Notes mature October 22, 2029; prepayable at any time, subject to make-whole terms before April 22, 2029
Covenants include a maximum Total Net Leverage Ratio of 3.5 to 1.0 and a requirement that at least 80% of Management Fees be received without material deferral, waiver or reduction
Change of control triggers an offer to repurchase at 100% of principal plus accrued interest
StepStone Group reported results for the quarter ended June 30, 2024, its first quarter of fiscal 2025. Total revenues rose 5% to $186.4 million, but net income fell 3% to $48.0 million and GAAP diluted earnings per share fell 41% to $0.20, with performance fees down 79%. The company also declared a quarterly dividend of $0.24 per share, payable September 13, 2024.
Total revenues were $186.4 million, up 5% from $178.0 million a year earlier; management and advisory fees, net rose 29% to $178.0 million.
GAAP net income attributable to StepStone was $13.3 million, versus $21.3 million a year earlier; diluted EPS was $0.20 versus $0.34.
Non-GAAP adjusted net income rose 95% to $57.2 million, and fee-related earnings rose 61% to $71.7 million, with a 40% FRE margin.
Assets under management were $169.3 billion, up 19%; the quarterly dividend is payable September 13, 2024 to holders of record on August 30, 2024.
On May 31, 2024, StepStone Group completed the first annual exchange tied to its acquisition of equity interests in three asset class entities, paying about $13 million in cash plus 513,394 Class A shares and 2,239,185 Class D Units. After the exchange, the Partnership owns about 56% of SRE, 54% of SIRA and 55% of SPD. The filing also adds new agreements on unit exchanges and registration rights that could increase the number of shares outstanding over time.
Approximately 5% of each asset class entity was acquired in the 2024 Exchange.
Consideration totaled about $13 million in cash, 513,394 Class A shares and 2,239,185 Class D Units.
Class D Units can be exchanged one for one into Class A shares, subject to restrictions of up to one year (two years in certain acceleration cases).
The Class A shares and Class D Units were issued without SEC registration, relying on Section 4(a)(2) exemptions.
StepStone Group reported results for the fourth quarter and fiscal year ended March 31, 2024, in a press release furnished as Exhibit 99.1. Quarterly total revenues rose to $356.8 million from $172.4 million, and net income attributable to StepStone was $30.8 million, or $0.48 per diluted share, versus $28.8 million, or $0.46, a year earlier. Adjusted net income for the full year fell 2% to $139.4 million, so shareholders should note that the non-GAAP earnings measure declined even as GAAP results improved.
Q4 total revenues were $356.8 million, up from $172.4 million; diluted EPS was $0.48 versus $0.46.
Full-year net income attributable to StepStone was $58.1 million, or $0.91 per diluted share, compared with a loss of $18.4 million, or $(0.30), in fiscal 2023.
Full-year adjusted net income was $139.4 million ($1.21 per share), down from $142.7 million ($1.24 per share) in fiscal 2023.
The board declared a quarterly dividend of $0.21 and a supplemental dividend of $0.15 per Class A share, payable June 28, 2024, to holders of record on June 14, 2024.
StepStone Group LP, a subsidiary of StepStone Group Inc., entered into an amended and restated credit agreement with JPMorgan Chase Bank, N.A. as administrative agent on May 16, 2024. The filing says the agreement raises aggregate commitments to $300 million and extends the revolving facility's maturity to 2029. This is a routine refinancing of an existing facility, with the filing describing other changes only generally.
Aggregate commitments increased to $300,000,000, subject to later increases under the agreement's terms
Revolving facility maturity extended to 2029
Amends and restates the credit agreement dated September 20, 2021, as amended April 17, 2023
Full terms are in Exhibit 10.1 and were not summarized in the filing
StepStone Group entered agreements on February 7, 2024 to acquire, over a defined period, all outstanding equity of three partly owned subsidiaries: SRE, SIRA and SPD. The exchanges would be paid in Class D partnership units or Class A shares plus cash, in up to ten annual exchanges (up to fifteen for SIRA), with no more than 75 million shares issuable as stock consideration. Completion requires stockholder approval and regulatory clearance, and the first exchange uses an April 1, 2024 reference date.
Agreements dated February 7, 2024 cover SRE, SIRA and SPD, with consideration of Class D units (SRE, SIRA) or Class A common stock (SPD) plus cash
Up to ten annual exchanges, or up to fifteen for SIRA sellers; first exchange uses an April 1, 2024 reference date
No more than 75 million Class A shares may be issued as stock consideration, subject to a company option to increase the limit
Closing requires stockholder approval under Nasdaq rules and Hart-Scott-Rodino antitrust clearance
StepStone Group reported results for the fiscal third quarter ended December 31, 2023, showing a GAAP net loss of $23.4 million, wider than the $13.6 million loss a year earlier. Management and advisory fees, net and adjusted net income both grew, but total performance fees were negative $166.1 million, so GAAP revenue was also negative.
GAAP total revenues were negative $14.6 million for the quarter, compared with negative $4.2 million a year earlier.
Management and advisory fees, net rose 18% to $151.5 million.
Adjusted net income rose 35% to $42.1 million, or $0.37 per share; fee-related earnings rose 19% to $50.7 million.
The board declared a quarterly dividend of $0.21 per share, payable March 15, 2024, to holders of record on February 29, 2024.
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