Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · StepStone (STEP)

StepStone swings to $12.0 million Q1 net loss as revenue nearly doubles

Mixed Impact 3 of 5 earnings Written later

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.

Key points

  • 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.

The filing

CompanyStepStone (STEP)
Form8-K, current report
Filed with the SECAug 7, 2025, 4:08 PM ET
Accession number0001796022-25-000059

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 07, 2025.

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.