StepStone (STEP) Operating Expenses (2019 - 2025)

StepStone (STEP) has reported Operating Expenses for 7 consecutive years, with $1.2 billion the latest figure, recorded in Q3 2025.

• For the quarter ending Q3 2025, Operating Expenses rose 433.3% year-over-year to $1.2 billion; the trailing twelve-month figure through Sep 2025 stood at $2.7 billion (up 313.71% YoY), and the FY2025 full-year result was $1.4 billion, up 167.04% from the prior year.
• Operating Expenses climbed to $1.2 billion in Q3 2025 per STEP's latest filing, from $423.3 million in the prior quarter.
• Across five years, Operating Expenses topped out at $1.2 billion in Q3 2025 and bottomed at -$104.2 million in Q3 2022.
• Historically, Operating Expenses has averaged $243.8 million across 5 years, with a median of $173.7 million in 2021.
• The sharpest annual moves came in 2022 and 2024: Operating Expenses plunged 160.06% in 2022, then surged 3544.89% in 2024.
• Over 5 years, Operating Expenses stood at $292.7 million in 2021, then tumbled by 98.21% to $5.2 million in 2022, then soared by 264.96% to $19.2 million in 2023, then soared by 3544.89% to $698.1 million in 2024, then jumped by 68.6% to $1.2 billion in 2025.
• According to Business Quant data, Operating Expenses over the past three periods registered $1.2 billion, $423.3 million, and $383.6 million for Q3 2025, Q2 2025, and Q1 2025 respectively.