StepStone Group Inc.
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 5, 2026
STEP$49.18+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Stockholders’ Equity for the and
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)
| Class A Common Stock · Class B Common Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive Income · Non-Controlling Interests in Subsidiaries · Non-Controlling Interests in Legacy Greenspring Entities · Non-Controlling Interests in the Partnership · Total Stockholders’ Equity | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Balance at September 30, 2025 | $79 | $39 | $485,919 | $(720,431) | $935 | $927,728 | $134,551 | $(282,029) | $546,791 | |
| Net income (loss) | — | — | — | (123,451) | — | 24,562 | (527) | (82,207) | (181,623) | |
| Other comprehensive loss | — | — | — | — | (59) | (62) | — | (32) | (153) | |
| Contributed capital | — | — | — | — | — | 614 | 338 | — | 952 | |
| Equity-based compensation | — | — | 3,230 | — | — | 179 | — | 1,728 | 5,137 | |
| Distributions | — | — | — | — | — | (4,656) | (215) | (7,853) | (12,724) | |
| Dividends declared | — | — | — | (22,449) | — | — | — | — | (22,449) | |
| Exchange of Class B, Class C and Class D units for Class A common stock and redemption of corresponding Class B common stock | 1 | — | (1) | — | — | — | — | — | — | |
| Purchase of non-controlling interests | — | — | 13 | — | — | — | — | 7 | 20 | |
| Equity reallocation between controlling and non-controlling interests | — | — | (6,337) | — | — | — | — | 6,337 | — | |
| Deferred tax effect resulting from equity transactions affecting ownership in the Partnership(1) | — | — | 3,718 | — | — | — | — | — | 3,718 | |
| Balance at December 31, 2025 | $80 | $39 | $486,542 | $(866,331) | $876 | $948,365 | $134,147 | $(364,049) | $339,669 | |
| Balance at March 31, 2025 | $77 | $40 | $421,057 | $(242,546) | $728 | $1,056,510 | $133,489 | $20,793 | $1,390,148 | |
| Net income (loss) | — | — | — | (528,017) | — | 62,421 | 4,168 | (369,275) | (830,703) | |
| Other comprehensive loss | — | — | — | — | (362) | (387) | — | (204) | (953) | |
| Contributed capital | — | — | — | — | — | 2,194 | 1,148 | 1 | 3,343 | |
| Equity-based compensation | — | — | 9,056 | — | — | 543 | — | 4,984 | 14,583 | |
| Distributions | — | — | — | — | — | (55,942) | (4,658) | (69,421) | (130,021) | |
| Dividends declared | — | — | — | (95,768) | — | — | — | — | (95,768) | |
| Class A common stock issued under ESPP | — | — | 1,113 | — | — | — | — | 615 | 1,728 | |
| Exchange of Class B, Class C and Class D units for Class A common stock and redemption of corresponding Class B common stock | 2 | (1) | (2) | — | — | — | — | — | (1) | |
| Purchase of non-controlling interests | — | — | (6,553) | — | — | — | — | (3,766) | (10,319) | |
| Class A common stock issued for purchase of asset class non-controlling interests | 1 | — | (1) | — | — | — | — | — | ||
| Equity reallocation between controlling and non-controlling interests | — | — | 64,240 | — | 510 | (116,974) | — | 52,224 | — | |
| Deferred tax effect resulting from equity transactions affecting ownership in the Partnership(1) | — | — | (2,368) | — | — | — | — | — | (2,368) | |
| Balance at December 31, 2025 | $80 | $39 | $486,542 | $(866,331) | $876 | $948,365 | $134,147 | $(364,049) | $339,669 | |
(1)See notes 10 and 13 for more information.
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)
| Class A Common Stock | Class B Common Stock | Additional Paid-in Capital | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income | Non-Controlling Interests in Subsidiaries | Non-Controlling Interests in Legacy Greenspring Entities | Non-Controlling Interests in the Partnership | Total Stockholders’ Equity | |
|---|---|---|---|---|---|---|---|---|---|
| Balance at September 30, 2024 | $73 | $43 | $393,115 | $3,992 | $236 | $1,021,775 | $150,852 | $218,391 | $1,788,477 |
| Net income (loss) | — | — | — | (192,015) | — | 27,226 | 1,167 | (134,760) | (298,382) |
| Other comprehensive income | — | — | — | — | 105 | 42 | — | 63 | 210 |
| Contributed capital | — | — | — | — | — | 7,078 | 501 | — | 7,579 |
| Equity-based compensation | — | — | 1,690 | — | — | 204 | — | 1,026 | 2,920 |
| Distributions | — | — | — | — | — | (4,406) | (19,959) | (14,099) | (38,464) |
| Dividends declared | — | — | — | (17,651) | — | — | — | — | (17,651) |
| Exchange of Class B, Class C and Class D units for Class A common stock and redemption of corresponding Class B common stock | 3 | (3) | (3) | — | — | — | — | — | (3) |
| Equity reallocation between controlling and non-controlling interests | — | — | 14,891 | — | — | — | — | (14,891) | — |
| Deferred tax effect resulting from equity transactions affecting ownership in the Partnership(1) | — | — | 5,366 | — | — | — | — | — | 5,366 |
| Balance at December 31, 2024 | $76 | $40 | $415,059 | $(205,674) | $341 | $1,051,919 | $132,561 | $55,730 | $1,450,052 |
| Balance at March 31, 2024 | $66 | $45 | $310,293 | $13,768 | $304 | $974,559 | $147,042 | $208,514 | $1,654,591 |
| Net income (loss) | — | — | — | (161,055) | — | 62,966 | (4,119) | (107,856) | (210,064) |
| Other comprehensive income (loss) | — | — | — | — | 37 | (53) | — | 19 | 3 |
| Contributed capital | — | — | — | — | — | 7,078 | 19,247 | — | 26,325 |
| Equity-based compensation | — | — | 7,803 | — | — | 612 | — | 5,513 | 13,928 |
| Distributions | — | — | — | — | — | (35,554) | (29,609) | (61,374) | (126,537) |
| Dividends declared | — | — | — | (58,387) | — | — | — | — | (58,387) |
| Vesting of RSUs, net of shares withheld for taxes | 1 | — | (673) | — | — | — | — | (451) | (1,123) |
| Class A common stock issued under ESPP | — | — | 684 | — | — | — | — | 431 | 1,115 |
| Exchange of Class B, Class C and Class D units for Class A common stock and redemption of corresponding Class B common stock | 9 | (8) | (9) | — | — | — | — | — | (8) |
| Vesting of Class B2 units and issuance of corresponding Class B common stock at par value | — | 3 | — | — | — | — | — | — | 3 |
| Purchase of non-controlling interests | — | — | (3,149) | — | — | — | — | (2,249) | (5,398) |
| Settlement of non-controlling interests related to awards of carried interest allocations | — | — | — | — | — | 54,977 | — | — | 54,977 |
| Redemption of redeemable non-controlling interests in subsidiaries | — | — | 55,879 | — | — | — | — | 41,504 | 97,383 |
| Equity reallocation between controlling and non-controlling interests | — | — | 40,987 | — | — | (12,666) | — | (28,321) | — |
| Deferred tax effect resulting from equity transactions affecting ownership in the Partnership(1) | — | — | 3,244 | — | — | — | — | — | 3,244 |
| Balance at December 31, 2024 | $76 | $40 | $415,059 | $(205,674) | $341 | $1,051,919 | $132,561 | $55,730 | $1,450,052 |
(1)See notes 10 and 13 for more information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.