Filing Flows › StepStone Group (STEP) › Q1 FY27 › vs Q1 FY26
StepStone Group (STEP) Q1 FY27 vs Q1 FY26 (year over year)
StepStone Group's revenue rose $14.6M (+4%) from $364M in Q1 FY26 to $379M in Q1 FY27. The biggest changes: Management and advisory fees, net −$84.5M (-24%); Carried interest allocations −$40.7M (-36%); Realized +$4.2M (+17%).
StepStone Group, Q1 FY27: revenue $379M (+4% year over year), operating margin -54.1%, net loss $170M, operating cash flow −$458M. The chart draws each line against Q1 FY26, the increases inside each band.
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Performance fees | $110M | $153M | −$43.4M | -28% |
| SMAs | $75.3M | $70.4M | $4.9M | +7% |
| Unrealized | $44.0M | $88.9M | −$44.9M | -51% |
| Legacy Greenspring carried interest allocations | $37.2M | $39.6M | −$2.5M | -6% |
| Fund reimbursement revenues | $3.6M | $2.2M | $1.4M | +65% |
| Management and advisory fees, net | $270M | $354M | −$84.5M | -24% |
| Carried interest allocations | $72.5M | $113M | −$40.7M | -36% |
| Realized | $28.6M | $24.4M | $4.2M | +17% |
| Income-based incentive fees | $7.0M | $4.4M | $2.6M | +59% |
| Revenue | $379M | $364M | $14.6M | +4% |
| Other income, net | $4.6M | $38.7M | −$34.1M | -88% |
| Income tax benefit | $29.9M | $8.3M | $21.5M | +258% |
| Net loss | $170M | $12.0M | $158M | 14× |
| Costs & expenses | $584M | $423M | $160M | +38% |
| Operating costs | $584M | $423M | $160M | +38% |
| General & admin | $53.5M | $42.9M | $10.6M | +25% |
| Other operating costs | $530M | $380M | $150M | +39% |
| Operating cash sources | $762M | $147M | $615M | +419% |
| Depreciation & amortization | $11.4M | $11.4M | −$55K | -0.5% |
| Share-based compensation | $293M | $182M | $111M | +61% |
| Cash used in operations | $458M | −$46.3M | $504M | — |
| Net loss absorbed | $170M | $12.0M | $158M | 14× |
| Working capital & other | $591M | $135M | $457M | +339% |
Questions
How much did StepStone Group's revenue grow year over year in Q1 FY27?
StepStone Group's revenue rose $14.6M (+4%) from $364M in Q1 FY26 to $379M in Q1 FY27.
What drove StepStone Group's revenue change in Q1 FY27?
Management and advisory fees, net −$84.5M (-24%); Carried interest allocations −$40.7M (-36%); Realized +$4.2M (+17%).