Here's What Key Metrics Tell Us About StepStone Group (STEP) Q2 Earnings

Core Insights - StepStone Group Inc. reported a revenue of $282.34 million for the quarter ended September 2025, reflecting a year-over-year increase of 35.2% and surpassing the Zacks Consensus Estimate by 5.44% [1] - The earnings per share (EPS) for the quarter was $0.54, an increase from $0.45 in the same quarter last year, exceeding the consensus EPS estimate of $0.49 by 10.2% [1] Financial Performance Metrics - Fee-Earning AUM (FEAUM) for Focused Commingled Funds reached $54,584 billion, significantly higher than the average estimate of $17,651.97 billion [4] - Total Fee-Earning AUM (FEAUM) was reported at $132,791 billion, compared to the average estimate of $43,654.68 billion [4] - FEAUM for Separately Managed Accounts (SMAs) was $78,207 billion, exceeding the average estimate of $26,002.71 billion [4] - Assets Under Advisement (AUA) totaled $561.56 billion, surpassing the average estimate of $528.57 billion [4] - Assets Under Management (AUM) stood at $209.15 billion, slightly above the average estimate of $208.32 billion [4] Revenue Breakdown - Total revenues from management and advisory fees, net, were $215.49 million, slightly below the average estimate of $217.05 million [4] - Total performance fees amounted to $238.74 million, significantly higher than the average estimate of $79.7 million [4] - Performance fees from carried interest allocations (unrealized) reached $147.81 million, compared to the average estimate of $26.14 million [4] - Total revenues from carried interest allocations were $206.69 million, exceeding the average estimate of $75.29 million [4] - Realized performance fees from carried interest allocations were reported at $58.88 billion, above the average estimate of $49.15 million [4] Stock Performance - Over the past month, StepStone Group's shares have returned -0.5%, while the Zacks S&P 500 composite has increased by 1.3% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]