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AI brief of an SEC Form 8-K · StepStone (STEP)

StepStone revenue rises 42% to $271.7 million; GAAP net income falls 10%

Mixed Impact 3 of 5 earnings Written later

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

CompanyStepStone (STEP)
Form8-K, current report
Filed with the SECNov 7, 2024, 4:07 PM ET
Accession number0001796022-24-000087

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing 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 and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.