Stepstone Group IncSTEP
▼ NegativeCapitalrelevance
Q2 revenue and EPS missed expectations, operating margin fell sharply.
Impact on stocks 1
Financials
Stepstone Group IncStepStone Group reported second quarter revenue of $300.6 million and adjusted earnings per share of $0.48, both below Wall Street expectations. Management attributed the miss to changes in fee structures and the timing of fund activations, while highlighting robust fundraising and Private Wealth subscriptions surpassing $2.8 billion. Analysts questioned fee rate impacts, equity lockups, distribution fees, secondaries fundraising, and Private Wealth growth limits. The company's operating margin fell to -68.1% from -24.9% a year earlier, and shares traded at $48.09, down from $50.33 before the earnings release.
Stepstone Group IncQ2 revenue and EPS missed expectations, operating margin fell sharply.