StepStone revenue rises 5% to $186.4 million, but GAAP EPS falls 41% to $0.20
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.
Key points
- 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.
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 August 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.