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StepStone Group Inc. STEP Fund reimbursement revenues — Service fees

Other product segments

Focused commingled funds
$160.45M+29.9%
SMAs
$76.34M+12.8%
Advisory and other services
$20M+0.4%
Income Based Incentive Fees
$7.1M+109%

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$57.4M-8.9%
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OWLAdministrative, transaction and other fees — Revenue
$56.64M+9.7%
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AJGFees — Revenues before reimbursements
$1.21B+23.0%
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VCTRFund Administration Fee — Revenue
$32.92M+22.6%
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GLXYFees — Revenues from contracts with customers
$21.61M+87.6%

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$3.69B-3.5%
P/S1.9×-1.4×

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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 fund reimbursement revenues — service fees?
StepStone Group Inc. (STEP) reported fund reimbursement revenues — service fees of $3.08M in Q1 2026.
How has StepStone Group Inc.'s fund reimbursement revenues — service fees changed year-over-year?
StepStone Group Inc.'s fund reimbursement revenues — service fees increased by 37.1% year-over-year, from $2.25M to $3.08M.
What is the long-term trend for StepStone Group Inc.'s fund reimbursement revenues — service fees?
Over 4 years (2022 to 2026), StepStone Group Inc.'s fund reimbursement revenues — service fees has grown at a 58.2% compound annual growth rate (CAGR), from $1.69M to $10.58M.
What does fund reimbursement revenues — service fees mean?
This metric represents the service fees collected by the firm as part of its fund reimbursement revenue stream, reflecting the recovery of specific operational or administrative costs incurred on behalf of managed investment vehicles. It serves as an indicator of the firm's ability to pass through costs associated with providing specialized advisory and investment management services to its private market clients. Growth in this area highlights the expansion of the firm's service-based revenue model and the scale of its underlying investment platform.