StepStone posts $23.4 million Q3 net loss; fee revenue and ANI rise
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.
Key points
- 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 08, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.