Filing Flows › StepStone Group (STEP) › Q4 FY26
StepStone Group (STEP) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed May 27, 2026
StepStone Group (STEP) reported revenue of $589M for the fourth quarter fiscal 2026 (Q4 FY26), +56% from a year earlier and +0.4% from the quarter before. Operating margin was -3.5%, net earnings $6.7M (1.1% of revenue).
StepStone Group, Q4 FY26: revenue $589M (+56% year over year), operating margin -3.5%, net earnings $6.7M, operating cash flow −$23.2M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $589M | +0.4% | +56% |
| Operating profit | −$20.3M | — | — |
| Net earnings | $6.7M | — | -49% |
| Operating cash flow | −$23.2M | -185% | — |
What changed
Revenue was $588.6M in Q4 FY26, up 56% year over year and roughly flat from the previous quarter. Unrealized was the largest line at 34% of revenue.
Operating costs exceeded revenue by $20.3M, an operating margin of -3.5%. Total costs grew 59% against revenue growth of 56%. The fastest-growing cost line was Other operating costs (+65%). Net earnings were −$7.8M. Non-operating items added $20.0M, -5812% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$23.2M. Non-cash charges added back $11.4M of depreciation and amortization and $180.0M of share-based compensation. Working capital and other items used $221.3M. Capital expenditures of $762K exceeded it, leaving free cash flow of −$24.0M.
Questions
What was StepStone Group's revenue in the fourth quarter fiscal 2026?
StepStone Group (STEP) reported revenue of $589M for the fourth quarter fiscal 2026 (Q4 FY26), +56% from a year earlier and +0.4% from the quarter before.
Was StepStone Group profitable in the fourth quarter fiscal 2026?
Operating loss was $20.3M (-3.5% of revenue) and net earnings $6.7M.
Source: StepStone Group 10-K on SEC EDGAR.