--- title: "Stepstone | 8-K: FY2026 Q4 Revenue: USD 588.58 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/287112476.md" datetime: "2026-05-20T20:10:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287112476.md) - [en](https://longbridge.com/en/news/287112476.md) - [zh-HK](https://longbridge.com/zh-HK/news/287112476.md) --- # Stepstone | 8-K: FY2026 Q4 Revenue: USD 588.58 M Revenue: As of FY2026 Q4, the actual value is USD 588.58 M. EPS: As of FY2026 Q4, the actual value is USD -0.1. EBIT: As of FY2026 Q4, the actual value is USD -19.57 M. StepStone Group Inc. announced its financial results for the fourth quarter and full fiscal year ended March 31, 2026 . #### Fiscal Year Ended March 31, 2026 (GAAP Financial Highlights) - **Total Revenues**: StepStone Group Inc. reported total revenues of $1,993,603 thousand, a 70% increase from $1,174,830 thousand in the prior fiscal year . - **Management and Advisory Fees, Net**: These fees increased by 21% to $926,465 thousand from $767,014 thousand . - **Total Performance Fees**: These fees saw a significant increase of 162% to $1,067,138 thousand, up from $407,816 thousand . - **Net Loss**: The company reported a net loss of -$743,276 thousand for fiscal year 2026, compared to a net loss of -$172,827 thousand in fiscal year 2025, representing a 330% change . - **Weighted-Average Shares of Class A Common Stock (Basic and Diluted)**: These increased by 11% to 79,039,229 from 71,142,916 . #### Three Months Ended March 31, 2026 (Q4’26) (GAAP Financial Highlights) - **Total Revenues**: Total revenues were $588,580 thousand, a 56% increase from $377,729 thousand in Q4’25 . - **Management and Advisory Fees, Net**: These fees grew by 22% to $259,871 thousand from $213,401 thousand . - **Total Performance Fees**: These fees increased by 100% to $328,709 thousand from $164,328 thousand . - **Net Income**: Net income was $6,660 thousand in Q4’26, compared to $13,153 thousand in Q4’25, a -49% change . #### Fiscal Year Ended March 31, 2026 (Non-GAAP Financial Highlights) - **Fee Revenues**: Fee revenues increased by 21% to $931,619 thousand from $770,489 thousand in fiscal year 2025 . - **Adjusted Revenues**: Adjusted revenues grew by 36% to $1,320,150 thousand from $969,719 thousand . - **Fee-Related Earnings (FRE)**: FRE increased by 14% to $354,449 thousand from $312,204 thousand . - **FRE Margin**: FRE margin was 38% for fiscal year 2026, down from 41% in fiscal year 2025 . - **Gross Realized Performance Fees**: These fees increased by 95% to $388,531 thousand from $199,230 thousand . - **Performance Fee-Related Earnings (PRE)**: PRE increased by 88% to $195,954 thousand from $104,482 thousand . - **Adjusted Net Income (ANI)**: ANI increased by 8% to $264,560 thousand from $244,072 thousand . #### Three Months Ended March 31, 2026 (Q4’26) (Non-GAAP Financial Highlights) - **Fee Revenues**: Fee revenues increased by 21% to $260,285 thousand from $214,662 thousand in Q4’25 . - **Adjusted Revenues**: Adjusted revenues increased by 3% to $305,841 thousand from $295,861 thousand . - **FRE**: FRE increased by 12% to $105,334 thousand from $94,081 thousand . - **FRE Margin**: FRE margin was 40%, compared to 44% in Q4’25 . - **Gross Realized Performance Fees**: These fees decreased by -44% to $45,556 thousand from $81,199 thousand . - **PRE**: PRE decreased by -57% to $17,894 thousand from $41,543 thousand . - **ANI**: ANI decreased by -14% to $69,459 thousand from $80,603 thousand . #### GAAP Balance Sheet Items (As of March 31, 2026) - **Total Assets**: Total assets were $6,762,702 thousand, an increase from $4,586,693 thousand as of March 31, 2025 . - **Cash and Cash Equivalents**: Cash and cash equivalents were $213,065 thousand, down from $244,791 thousand . - **Investments in Funds**: Investments in funds increased to $249,447 thousand from $183,694 thousand . - **Accrued Carried Interest Allocations (Asset)**: These increased to $2,036,892 thousand from $1,495,664 thousand . - **Total Liabilities**: Total liabilities were $5,876,676 thousand, up from $2,812,321 thousand . - **Accrued Compensation and Benefits**: These increased to $2,360,770 thousand from $736,695 thousand . - **Debt Obligations of Consolidated Funds**: These significantly increased to $931,185 thousand from $0 thousand . - **Total Stockholders’ Equity**: Total stockholders’ equity decreased to $691,013 thousand from $1,390,148 thousand . #### GAAP Statements of Loss (Expenses) (Fiscal Year Ended March 31, 2026) - **Total Expenses**: Total expenses were $3,016,971 thousand, up from $1,441,649 thousand in fiscal year 2025 . - **Total Compensation and Benefits**: These increased to $2,829,717 thousand from $1,264,295 thousand . - **General, Administrative and Other Expenses**: These increased to $187,254 thousand from $177,354 thousand . #### Operational Metrics (As of March 31, 2026) - **Assets Under Management (AUM)**: AUM reached $233.3 billion, a 23% increase from $189.4 billion as of March 31, 2025 . - **Assets Under Advisement (AUA)**: AUA increased by 25% to $651.8 billion from $519.7 billion . - **Fee-Earning AUM (FEAUM)**: FEAUM grew by 19% to $144.0 billion from $121.4 billion . - **Undeployed Fee-Earning Capital (UFEC)**: UFEC increased by 63% to $40.1 billion from $24.6 billion . - **Total Capital Responsibility**: Total capital responsibility, which includes AUM plus AUA, increased by 25% to $885.152 billion from $709.064 billion . #### Outlook / Guidance The provided report does not contain specific forward-looking statements or guidance regarding future financial performance or operational targets . 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