Companies /Financial Services
StepStone Group Inc - Class A
NASDAQ: STEP Asset Management
$42.71
▲ $1.38 (+3.34%) today
Markets closed · 6:55pm ET

StepStone Group (STEP) Q3 2026 Earnings

Reported Feb 5, 2026, 4:06pm ET · SEC source
$0.65
Beat +4.70%
EPS · est. $0.62
$586.5M
Beat +48.51%
Revenue · est. $394.9M
−25.1%
Trailing market
STEP vs S&P since report
1 quarter
Consecutive EPS misses

How Did STEP Stock React to Q3 2026 Earnings?

% change · around the report
0+3%+6%Feb 5Feb 6report 4:06pm ETearnings+2.1%+5.5%
0+3%+6%Feb 5Feb 6earnings+2.1%+5.5%
STEP +5.5%S&P 500 +2.1%
0+3%+6%Feb 5Feb 6report 4:06pm ETearnings+2.4%+5.5%
0+3%+6%Feb 5Feb 6earnings+2.4%+5.5%
STEP +5.5%NASDAQ +2.4%
−5%0+5%Feb 4Feb 13report 4:06pm ETearnings+1.0%−4.1%
−5%0+5%Feb 4Feb 13earnings+1.0%−4.1%
STEP −4.1%S&P 500 +1.0%
−5%0+5%Feb 4Feb 13report 4:06pm ETearnings+1.6%−4.1%
−5%0+5%Feb 4Feb 13earnings+1.6%−4.1%
STEP −4.1%NASDAQ +1.6%
+5.51%
Day of report
+0.19%
Next session
−9.08%
One week
−27.18%
30 days

S&P 500 over the same 30 days: −2.07%.

Did STEP Beat Earnings? Q3 2026 Results

Yes. StepStone Group reported Q3 2026 earnings of $0.65 a share on Feb 5, 2026, beating the $0.62 consensus estimate by 4.7%. Revenue was $586.5M against a $394.9M estimate.

StepStone Group delivered a strong fiscal third-quarter 2026 result, with adjusted earnings per share of $0.65 beating the $0.62 consensus estimate by 4.70%, while revenue of $586.51 million topped expectations of $394.92 million by 48.51% and surged 73.0% year over year. The primary engine behind the beat was a dramatic acceleration in performance fees, which reached $346.58 million for the quarter compared to $148.18 million a year earlier, as gross realized performance fees alone jumped to $253.37 million from just $52.07 million in the prior-year period. Management and advisory fees also contributed meaningfully, growing 26% year over year to $239.93 million, underpinned by fee-earning AUM that expanded 21% to $138.6 billion. Total AUM reached approximately $219.8 billion, up 23% year over year, reflecting continued fundraising momentum including growing traction in private wealth channels, where the firm has been actively expanding its international distribution reach. On a GAAP basis, the company reported a net loss attributable to StepStone of $123.45 million, narrower than the $287.16 million loss posted a year ago. The board declared a quarterly dividend of $0.28 per Class A share.

Key Takeaways
  • Total performance fees surged 134% year-over-year to $346.6 million
  • Gross realized performance fees increased 387% to $253.4 million
  • Management and advisory fees grew 26% year-over-year
  • Fee-earning AUM grew 21% to $138.6 billion
  • Total AUM grew 23% to $219.8 billion
  • Total capital responsibility reached approximately $811 billion, up 16%
  • Focused commingled fund fee revenues grew 36% year-over-year

STEP YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$300.0M$600.0M$339.0M$586.5MRevenue$-140,746,036$-162,435,000Net Income$-160,281,802$-221,253,000Operating Income
$0$300.0M$600.0MRevenueNet IncomeOperating Income
STEP income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $586.5M $339.0M +73.0%
Net Income −$162.4M −$140.7M +15.4%
Operating Income −$221.3M −$160.3M +38.0%

STEP Revenue by Segment

Focused Commingled Funds$144.3M+36.0%
Separately Managed Accounts$75.2M+14.0%
Advisory and Other Services$18.4M

Figures from SEC filings and company reports. Not investment advice.