StepStone Group Reports First Quarter Fiscal Year 2026 Results

Core Viewpoint - StepStone Group Inc. reported its financial results for the first quarter of fiscal year 2026, highlighting a quarterly cash dividend declaration and significant financial metrics [1][4]. Financial Highlights - The company reported total revenues of $364.287 million for the quarter ended June 30, 2025, representing a 95% increase compared to the same quarter in the previous year [9]. - Management and advisory fees, net, were $211.173 million, a 19% increase from the previous quarter [9]. - The net loss for the quarter was $12.011 million, compared to a net income of $48.045 million in the same quarter last year [9][19]. - The company declared a quarterly cash dividend of $0.28 per share of Class A common stock, payable on September 15, 2025 [1]. Non-GAAP Financial Measures - Fee revenues for the quarter were reported at $212.740 million, a 19% increase from the previous quarter [9]. - Adjusted revenues were $237.467 million, reflecting a 7% decrease compared to the previous quarter [9]. - Fee-related earnings (FRE) were $81.246 million, with a FRE margin of 38% [9][10]. - Adjusted net income (ANI) was $48.534 million, with ANI per share at $0.40, a 17% decrease from the previous quarter [10]. Key Business Drivers - As of June 30, 2025, StepStone managed approximately $723 billion in total capital, including $199 billion in assets under management (AUM), which represents an 18% increase year-over-year [4][10]. - Fee-earning AUM increased by 27% to $127.2 billion [10]. - The company reported a 4% increase in undeployed fee-earning capital, totaling $28.7 billion [10].