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StepStone Group Inc. STEP Conversion of temporary equity into permanent equity in conjunction with the Business Combination

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Other financials

Income statement

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Revenue$588.6M+55.8%
Net income-$7.8M+57.9%
EPS (diluted)-$0.06+70.0%

Balance sheet

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Cash & equivalents$378.0M+35.2%
Total debt$103.6M-72.9%
Total equity-$413.6M-331%
Total assets$6.8B+47.4%

Cash flow

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Operating cash flow$27.2M-1.5%
CapEx$762.0K-71.4%
Free cash flow$26.7M-1.1%

Valuation

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Market cap$3.51B-3.5%

Profitability

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Net margin-26.9%+84.4pp
FCF margin11.8%—

Returns & leverage

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Return on equity-88.8%-97.7pp
Debt / equity2.5×+1.7×

Where this comes from

Reported directly by StepStone Group Inc. in its filing.

Tagged under the XBRL concept us-gaap:ReclassificationsOfTemporaryToPermanentEquity.

The official record: StepStone Group Inc.’s 10-K, filed May 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is StepStone Group Inc.'s conversion of temporary equity into permanent equity in conjunction with the business combination?
StepStone Group Inc. (STEP) reported conversion of temporary equity into permanent equity in conjunction with the business combination of $244.09M in Q1 2024.
What does conversion of temporary equity into permanent equity in conjunction with the business combination mean?
Represents the conversion of temporary or redeemable equity instruments into permanent equity capital. This transition typically occurs when redemption rights expire or are modified, stabilizing the company's capital base. It serves as a positive indicator of reduced liquidity risk and improved long-term capital permanence.