The financials
StepStone Group Inc. by the numbers
StepStone Group Inc. (STEP) reported revenue of $589M in Q4 2026 (quarter ended March 31, 2026), up 56% from the same quarter a year earlier. That came with net loss of $7.8M. For the full year FY2026, revenue was $1.99B (+70% year on year) and net income −$536M. Its largest product in 2025-Q4 was Carried Interest Allocation at $149M, 27% of the disclosed total, just ahead of Management And Advisory Fees Net Focused Commingled Funds at 26%.
| Income statement | Q4 2026 | Q4 2025 | Change |
|---|---|---|---|
| Revenue | $589M | $378M | +56% |
| Operating income | −$20M | −$5.9M | n/a |
| Net income | −$7.8M | −$19M | n/a |
| Diluted EPS | −$0.06 | −$0.20 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Carried Interest Allocation | $149M | 27% |
| Management And Advisory Fees Net Focused Commingled Funds | $143M | 26% |
| Carried Interest Allocation Unrealized | $102M | 19% |
| Management And Advisory Fees Net Separately Managed Accounts | $75M | 14% |
| Carried Interest Allocation Realized | $47M | 8.6% |
| Management And Advisory Fees Net Advisory And Other Services | $18M | 3.4% |
| Income Based Incentive Fees | $6.0M | 1.1% |
| Management And Advisory Fees Net Fund Reimbursement | $3.1M | 0.6% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q4 2025Total $533.2M (-20%)
Income Based Incentive Fees grew +186% year on yearLegacy Carried Interest Allocation -223% year on year
Segment Latestquarter on quarteryear on year
- Carried Interest Allocation$148.7M$148.7MQoQ -28%year on year +26%-28%+26%
- Management And Advisory Fees Net Focused Commingled Funds$143.3M$143.3MQoQ +14%year on year +37%+14%+37%
- Carried Interest Allocation Unrealized$102.0M$102.0MQoQ -31%year on year +9.3%-31%+9.3%
- Management And Advisory Fees Net Separately Managed Accounts$75.2M$75.2MQoQ +4.9%year on year +14%+4.9%+14%
- Carried Interest Allocation Realized$46.7M$46.7MQoQ -21%year on year +92%-21%+92%
- Management And Advisory Fees Net Advisory And Other Services$18.3M$18.3MQoQ +13%year on year +4.8%+13%+4.8%
- Income Based Incentive Fees$6.0M$6.0MQoQ +13%year on year +186%+13%+186%
- Management And Advisory Fees Net Fund Reimbursement$3.1M$3.1MQoQ +41%year on year +39%+41%+39%
- Incentive Fees Separately Managed Accounts$0.00$0.00QoQ -100%year on year --100%-
- Legacy Carried Interest Allocation−$10.1M−$10.1MQoQ -137%year on year -223%-137%-223%
Asset Management
Ranks #37 of 38 by Smart Score