StepStone (STEP) Operating Expenses (2019 - 2025)

StepStone has reported Operating Expenses for 7 years, with the latest figure at $1.2 billion 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 Dec 2025 stood at $2.0 billion (up 49.48% YoY), and the FY2025 full-year result was $1.4 billion, up 167.04% from the prior year.
• Operating Expenses for Q3 2025 stood at $1.2 billion, up from $423.3 million in the prior quarter.
• The five-year high for Operating Expenses was $1.2 billion in Q3 2025, with the low 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.
• Annual changes were most pronounced in 2022 — Operating Expenses tumbled 160.06% — and 2024, when it jumped 3544.89%.
• StepStone's Operating Expenses stood at $292.7 million in 2021, then sank by 98.21% to $5.2 million in 2022, then jumped by 264.96% to $19.2 million in 2023, then jumped by 3544.89% to $698.1 million in 2024, then surged by 68.6% to $1.2 billion in 2025.
• The last three Operating Expenses figures came in at $1.2 billion (Q3 2025), $423.3 million (Q2 2025), and $383.6 million (Q1 2025), per Business Quant data.