StepStone Group (STEP) Q1 FY2025 earnings: revenue $186 million, up 4.7% on the year

StepStone Group Inc. (STEP) reported revenue of $186 million for Q1 FY2025, the quarter ended 30 June 2024, up 4.7% on the same quarter a year earlier. Net income was $13 million, down 37.3% on the year, and diluted earnings per share $0.20. The figures are the company's own, from the 10-Q it filed with the SEC on 8 August 2024.

Revenue$186 millionup 4.7%

Net income$13 milliondown 37.3%

Diluted EPS$0.20

QuarterQ1 FY2025ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Revenue	186	357	n/a	n/a
Operating income	47.2	87.6	n/a	n/a
Operating margin	25.3%	24.6%	n/a
Interest expense	3.0	2.6	n/a	n/a
Pre-tax income	54.8	94.5	n/a	n/a
Income tax	6.8	12.0	n/a	n/a
Effective tax rate	12.4%	12.7%	n/a
Net income	13.3	30.8	n/a	n/a
Net margin	7.2%	8.6%	n/a
Diluted EPS	$0.20	$0.48	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Operating cash flow	50.2	7.6	n/a	n/a
Capital expenditure	0.6	0.9	n/a	n/a
Free cash flow	49.6	6.7	n/a	n/a
Free cash flow margin	26.6%	1.9%	n/a
Cash from investing	-13.2	-9.1	n/a	n/a
Cash from financing	-22.9	9.3	n/a	n/a
Depreciation and amortisation	11.3	11.4	n/a	n/a
Share-based compensation	18.5	10.9	n/a	n/a
Dividends paid	23.8	13.5	n/a	n/a
Dividend per share	n/a	$0.21	n/a	n/a
Diluted shares, weighted	69m	67m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2025	Q4 FY2024	A year earlier	Change on the year
Shareholders' equity	367	324	n/a	n/a
Non-controlling interest	1,424	1,330	n/a	n/a
Debt	172	149	n/a	n/a
Other liabilities	1,871	1,985	n/a	n/a
Total liabilities and equity	3,834	3,789	n/a	n/a
Fixed assets	n/a	29.6	n/a	n/a
Goodwill	581	581	n/a	n/a
Intangible assets	295	305	n/a	n/a
Cash and equivalents	196	182	n/a	n/a
Other assets	2,763	2,692	n/a	n/a
Total assets	3,834	3,789	n/a	n/a

Questions

What was StepStone Group's revenue in Q1 FY2025?

StepStone Group (STEP) reported revenue of $186 million for Q1 FY2025, the quarter ended 30 June 2024, up 4.7% on the same quarter a year earlier.

How much did StepStone Group earn in Q1 FY2025?

Net income for Q1 FY2025 was $13 million, down 37.3% on the year, and diluted earnings per share $0.20.

When did StepStone Group report Q1 FY2025 results?

StepStone Group filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 8 August 2024.

Quarterly results, the last 12 quarters

	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027
Revenue	191	-14.6	357	186	272	339	378	364	454	587	589	379
Operating income	61.1	-33.8	87.6	47.2	51.0	-359	-5.9	-59.0	-723	-221	-20.3	-205
Operating margin	32%	n/a	25%	25%	19%	-106%	-2%	-16%	-159%	-38%	-3%	-54%
Interest expense	2.1	2.6	2.6	3.0	3.5	3.0	3.2	4.5	4.4	5.1	4.4	4.3
Pre-tax income	67.0	-24.1	94.5	54.8	57.9	-345	9.9	-20.4	-676	-195	-0.3	-200
Tax rate	12%	n/a	13%	12%	8%	n/a	-32%	n/a	n/a	n/a	n/a	n/a
Net income	26.2	-20.2	30.8	13.3	17.6	-192	-18.5	-38.4	-366	-123	-7.8	-116
Net margin	14%	n/a	9%	7%	6%	-57%	-5%	-11%	-81%	-21%	-1%	-31%
Diluted EPS	$0.42	-$0.32	$0.48	$0.20	$0.26	-$2.61	-$0.24	-$0.49	-$4.66	-$1.55	-$0.10	-$1.41
Operating cash flow	71.1	25.2	7.6	50.2	53.7	27.6	-66.5	46.3	16.2	27.2	-23.2	-458
Capital expenditure	6.8	4.1	0.9	0.6	1.3	0.6	2.7	1.1	0.3	0.4	0.8	0.5
Free cash flow	64.3	21.1	6.7	49.6	52.4	27.0	-69.2	45.2	15.9	26.7	-24.0	-458
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	19.2
Dividends paid	13.3	13.5	13.5	23.8	16.3	17.5	18.3	50.3	22.0	22.2	23.3	68.6
Filing	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 8 August 2024, accession 0001796022-24-000063: the filing on EDGAR. All of StepStone Group Inc.'s filings: EDGAR company page.

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