NASDAQ$STEP
StepStone Group LP · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
Reported second quarter fiscal year 2025 results, demonstrating growth in management and advisory fees and assets under management.
StepStone Group reported strong second quarter fiscal year 2025 results, with significant growth in management and advisory fees, total revenues, and fee-related earnings. The company's key business drivers, including assets under management and fee-earning AUM, also saw substantial increases.
- Management and advisory fees increased by 30% to $184.8 million compared to FQ2 2024.
- Total revenues increased by 42% to $271.7 million compared to FQ2 2024.
- Fee-related earnings (FRE) increased by 65% to $72.3 million compared to FQ2 2024.
- Assets under management (AUM) increased by 21% to $176.1 billion.
Headline financials
Revenue & EPS history
StepStone · Revenue · Quarterly
$272M
Revenue by segment
StepStone · $260M total across 4 segments · Q4 2026
- Focused commingled funds$161M—61.8%
- Separately managed accounts$76.3M—29.3%
- Advisory and other services$20M—7.7%
- Fund reimbursement revenues$3.18M—1.2%
Forward guidance
The earnings report does not include any forward guidance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2025
+2.4%
Avg return
Earnings day
+2.4%
Avg return
5 days after
-2.1%
Avg return
30 days after
74%
17 / 23 earnings
Positive
+11.0%
Q4 2024
Best reaction
-7.0%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +5.4% | +1.2% | -13.0% | |
| Q3 2026 | +5.5% | +0.2% | -22.8% | |
| Q2 2026 | -1.6% | +0.9% | +1.0% | |
| Q1 2026 | +1.8% | +8.6% | +6.0% | |
| Q4 2025 | +3.5% | +6.3% | -6.5% | |
| Q3 2025 | +0.8% | -6.5% | -18.3% | |
| Q2 2025 | +2.9% | +2.9% | -8.9% | |
| Q1 2025 | +11.0% | +12.4% | +16.6% | |
| Q4 2024 | +11.0% | +18.3% | +15.9% | |
| Q3 2024 | +7.5% | +2.5% | -0.2% | |
| Q2 2024 | -7.0% | -9.3% | -12.4% | |
| Q1 2024 | +4.5% | +1.8% | +8.9% | |
| Q4 2023 | -5.1% | -2.8% | +3.5% | |
| Q3 2023 | -2.9% | -5.0% | -22.6% | |
| Q2 2023 | +1.0% | +0.3% | +2.6% | |
| Q1 2023 | -0.5% | -2.1% | -5.1% | |
| Q4 2022 | +2.2% | -0.2% | +2.4% | |
| Q3 2022 | +4.3% | +1.1% | -6.7% | |
| Q2 2022 | +4.7% | +11.7% | -8.6% | |
| Q1 2022 | -5.4% | -1.8% | -1.3% | |
| Q4 2021 | +4.8% | +8.0% | +21.7% | |
| Q3 2021 | +6.0% | +4.1% | -15.2% | |
| Q2 2021 | +1.5% | +3.6% | +14.3% | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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