StepStone revenue rises 42% to $271.7 million; GAAP net income falls 10%
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.
Key points
- 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.
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 November 07, 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.