StepStone (STEP) Operating Expenses (2019 - 2025)

StepStone's Operating Expenses history runs 7 years deep, the most recent figure standing at $1.2 billion for Q3 2025.

• Quarterly Operating Expenses rose 433.3% year-over-year to $1.2 billion in Q3 2025, while the trailing twelve-month figure through Dec 2025 was $2.0 billion (up 49.48% YoY) and the FY2025 annual result came in at $1.4 billion, up 167.04% from the prior year.
• Operating Expenses was $1.2 billion for Q3 2025 at StepStone, up 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.
• A 5-year average of $243.8 million and a median of $173.7 million in 2021 frame the typical range for Operating Expenses.
• Annual changes were most pronounced in 2022 — Operating Expenses slumped 160.06% — and 2024, when it jumped 3544.89%.
• StepStone's 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.
• Business Quant data shows STEP's Operating Expenses at $1.2 billion in Q3 2025, $423.3 million in Q2 2025, and $383.6 million in Q1 2025.