2024 Q3 Form 10-Q Financial Statement

#000179602224000088 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $271.7M
YoY Change 41.93%
Cost Of Revenue $8.767M
YoY Change 415.71%
Gross Profit $264.5M
YoY Change 38.43%
Gross Profit Margin 97.37%
Selling, General & Admin $160.0M
YoY Change 57.14%
% of Gross Profit 60.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.37M
YoY Change -5.28%
% of Gross Profit 4.3%
Operating Expenses $211.9M
YoY Change 64.8%
Operating Profit $52.60M
YoY Change -15.84%
Interest Expense $4.109M
YoY Change 94.92%
% of Operating Profit 7.81%
Other Income/Expense, Net $6.907M
YoY Change 17.41%
Pretax Income $57.89M
YoY Change -13.57%
Income Tax $4.750M
% Of Pretax Income 8.21%
Net Earnings $17.63M
YoY Change -32.77%
Net Earnings / Revenue 6.49%
Basic Earnings Per Share $0.26
Diluted Earnings Per Share $0.26
COMMON SHARES
Basic Shares Outstanding 68.77M shares
Diluted Shares Outstanding 69.70M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $224.6M
YoY Change 27.55%
Cash & Equivalents $225.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $68.10M
Other Receivables $2.085B
Total Short-Term Assets $2.378B
YoY Change 3.17%
LONG-TERM ASSETS
Property, Plant & Equipment $92.75M
YoY Change -7.06%
Goodwill $580.5M
YoY Change 0.0%
Intangibles $284.4M
YoY Change -14.69%
Long-Term Investments $2.161B
YoY Change -0.07%
Other Assets $245.5M
YoY Change 554.65%
Total Long-Term Assets $1.662B
YoY Change 27.5%
TOTAL ASSETS
Total Short-Term Assets $2.378B
Total Long-Term Assets $1.662B
Total Assets $4.040B
YoY Change 11.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $115.1M
YoY Change 73.36%
Accrued Expenses $1.445B
YoY Change -2.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.831B
YoY Change 4.37%
LONG-TERM LIABILITIES
Long-Term Debt $172.3M
YoY Change 39.37%
Other Long-Term Liabilities $36.70M
YoY Change 10.89%
Total Long-Term Liabilities $209.0M
YoY Change 33.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.831B
Total Long-Term Liabilities $209.0M
Total Liabilities $2.040B
YoY Change 6.75%
SHAREHOLDERS EQUITY
Retained Earnings $3.992M
YoY Change -97.58%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $397.5M
YoY Change
Total Liabilities & Shareholders Equity $4.040B
YoY Change 11.96%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $17.63M
YoY Change -32.77%
Depreciation, Depletion And Amortization $11.37M
YoY Change -5.28%
Cash From Operating Activities $53.70M
YoY Change -24.48%
INVESTING ACTIVITIES
Capital Expenditures $1.294M
YoY Change -80.97%
Acquisitions
YoY Change
Other Investing Activities -$19.58M
YoY Change 221.03%
Cash From Investing Activities -$20.88M
YoY Change 61.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -724.0K
YoY Change -92.3%
NET CHANGE
Cash From Operating Activities 53.70M
Cash From Investing Activities -20.88M
Cash From Financing Activities -724.0K
Net Change In Cash 32.10M
YoY Change -34.23%
FREE CASH FLOW
Cash From Operating Activities $53.70M
Capital Expenditures $1.294M
Free Cash Flow $52.40M
YoY Change -18.5%

Facts In Submission

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us-gaap Comprehensive Income Net Of Tax
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StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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54977000 usd
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CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q3 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
54802000 usd
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CY2023Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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StockIssuedDuringPeriodValueRestrictedStockAwardNetOfSharesWithheldForEmployeeTaxes
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NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
3045000 usd
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CY2023Q3 step Adjustments To Additional Paid In Capital Deferred Tax Effect Of Exchange
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9322000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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StockIssuedDuringPeriodValueRestrictedStockAwardNetOfSharesWithheldForEmployeeTaxes
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us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest
3045000 usd
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0 usd
step Adjustments To Additional Paid In Capital Deferred Tax Effect Of Exchange
AdjustmentsToAdditionalPaidInCapitalDeferredTaxEffectOfExchange
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1638411000 usd
us-gaap Profit Loss
ProfitLoss
101183000 usd
us-gaap Profit Loss
ProfitLoss
108697000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22703000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23979000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
255000 usd
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
236000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
2519000 usd
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
12222000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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UnrealizedInvestmentGainLossFromConsolidatedFunds
15569000 usd
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UnrealizedInvestmentGainLossFromConsolidatedFunds
11134000 usd
step Payments To Acquire Consolidated Funds
PaymentsToAcquireConsolidatedFunds
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PaymentsToAcquireConsolidatedFunds
26752000 usd
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2487000 usd
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ProceedsFromSaleOfConsolidatedFunds
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
12749000 usd
us-gaap Increase Decrease In Due From Related Parties
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us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Due To Related Parties
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us-gaap Increase Decrease In Due To Related Parties
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885000 usd
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IncreaseDecreaseInLeaseRightOfUseAssetsNetOfLeaseLiabilities
1521000 usd
step Increase Decrease In Lease Right Of Use Assets Net Of Lease Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
103866000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
128717000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1869000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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PaymentsToRelatedPartiesTaxReceivableAgreements
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step Payments To Related Parties Tax Receivable Agreements
PaymentsToRelatedPartiesTaxReceivableAgreements
7670000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23623000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
43069000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
47285000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
182312000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129517000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
225381000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
176802000 usd
CY2024Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
626000 usd
CY2023Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
1151000 usd
step Deferred Tax Effect From Purchase Of Units Net
DeferredTaxEffectFromPurchaseOfUnitsNet
-2122000 usd
step Deferred Tax Effect From Purchase Of Units Net
DeferredTaxEffectFromPurchaseOfUnitsNet
-1293000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2878000 usd
step Noncontrolling Interest Increase From Settlement Of Non Controlling Interests Related To Awards Of Carried Interest Allocations
NoncontrollingInterestIncreaseFromSettlementOfNonControllingInterestsRelatedToAwardsOfCarriedInterestAllocations
54977000 usd
step Noncontrolling Interest Increase From Settlement Of Non Controlling Interests Related To Awards Of Carried Interest Allocations
NoncontrollingInterestIncreaseFromSettlementOfNonControllingInterestsRelatedToAwardsOfCarriedInterestAllocations
0 usd
step Stock Issued For Acquisitions
StockIssuedForAcquisitions
97383000 usd
step Stock Issued For Acquisitions
StockIssuedForAcquisitions
0 usd
CY2024Q3 us-gaap Restricted Cash
RestrictedCash
763000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
679000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
225381000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
176802000 usd
us-gaap Fiscal Period
FiscalPeriod
<div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Accounting for Differing Fiscal Periods</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The StepStone Funds primarily have a fiscal year end as of December 31. The Company accounts for its investments in the StepStone Funds on a three-month lag due to the timing of receipt of financial information from the investments held by the StepStone Funds. The StepStone Funds primarily invest in private markets funds that generally require at least 90 days following the calendar year end to provide audited financial statements. As a result, the Company uses the December 31 audited financial statements of the StepStone Funds, which reflect the underlying private markets funds as of December 31, to record its investments (including any carried interest allocated by those investments) for its fiscal year-end consolidated financial statements as of March 31. The Company further adjusts the reported carrying values of its investments in the StepStone Funds for its share of capital contributions to and distributions from the StepStone Funds during the three-month lag period. For this interim period ended September 30, 2024, the Company used the June 30, 2024 unaudited financial statements of the StepStone Funds, which reflect the underlying private market funds as of June 30, 2024, to record its investments (including any carried interest allocated from those investments), as adjusted for capital contributions and distributions during the three-month lag period ended September 30, 2024.</span></div><div style="margin-bottom:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company does not account for management and advisory fees or incentive fees on a three-month lag. </span></div><div style="margin-bottom:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">To the extent that management becomes aware of any material events that affect the StepStone Funds during the three-month lag period, the effect of the events would be disclosed in the notes to the condensed consolidated financial statements.</span></div>
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2024Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
CY2023Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 usd
step Revenue From Contract With Customer Incentive Fees As Percentage Of Net Investment Income
RevenueFromContractWithCustomerIncentiveFeesAsPercentageOfNetInvestmentIncome
0.15
step Incremental Net Cash Tax Savings Due To Exchanging Limited Partners Percent
IncrementalNetCashTaxSavingsDueToExchangingLimitedPartnersPercent
0.85
step Incremental Net Cash Tax Savings Due To Exchanging Limited Partners Benefit Retained Percent
IncrementalNetCashTaxSavingsDueToExchangingLimitedPartnersBenefitRetainedPercent
0.15
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
33300000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
31000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
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CY2024Q3 step Equity Method Investments Excluding Accrued Carried Interest Allocations
EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations
155857000 usd
CY2024Q1 step Equity Method Investments Excluding Accrued Carried Interest Allocations
EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations
135043000 usd
CY2024Q3 step Equity Method Investments Accrued Carried Interest Allocations
EquityMethodInvestmentsAccruedCarriedInterestAllocations
1381110000 usd
CY2024Q1 step Equity Method Investments Accrued Carried Interest Allocations
EquityMethodInvestmentsAccruedCarriedInterestAllocations
1354051000 usd
CY2024Q3 step Legacy Investments In Funds And Accrued Carried Interest Allocations
LegacyInvestmentsInFundsAndAccruedCarriedInterestAllocations
623546000 usd
CY2024Q1 step Legacy Investments In Funds And Accrued Carried Interest Allocations
LegacyInvestmentsInFundsAndAccruedCarriedInterestAllocations
631197000 usd
CY2024Q1 us-gaap Equity Method Investments
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2120291000 usd
CY2024Q3 step Investment In Fund Before Eliminations
InvestmentInFundBeforeEliminations
231700000 usd
CY2024Q1 step Investment In Fund Before Eliminations
InvestmentInFundBeforeEliminations
204800000 usd
CY2024Q3 step Legacy Investments In Funds
LegacyInvestmentsInFunds
150900000 usd
CY2024Q1 step Legacy Investments In Funds
LegacyInvestmentsInFunds
147000000.0 usd
CY2024Q3 step Legacy Accrued Carried Interest Allocations
LegacyAccruedCarriedInterestAllocations
472700000 usd
CY2024Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2051000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4646000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6166000 usd
CY2024Q3 step Legacy Investment Income
LegacyInvestmentIncome
-4031000 usd
CY2023Q3 step Legacy Investment Income
LegacyInvestmentIncome
-3966000 usd
step Legacy Investment Income
LegacyInvestmentIncome
-5286000 usd
step Legacy Investment Income
LegacyInvestmentIncome
-6832000 usd
CY2024Q3 step Revenue Not From Contract With Customer Income Loss From Equity Method Investments And Investment Income
RevenueNotFromContractWithCustomerIncomeLossFromEquityMethodInvestmentsAndInvestmentIncome
81784000 usd
CY2023Q3 step Revenue Not From Contract With Customer Income Loss From Equity Method Investments And Investment Income
RevenueNotFromContractWithCustomerIncomeLossFromEquityMethodInvestmentsAndInvestmentIncome
43467000 usd
step Revenue Not From Contract With Customer Income Loss From Equity Method Investments And Investment Income
RevenueNotFromContractWithCustomerIncomeLossFromEquityMethodInvestmentsAndInvestmentIncome
90669000 usd
step Revenue Not From Contract With Customer Income Loss From Equity Method Investments And Investment Income
RevenueNotFromContractWithCustomerIncomeLossFromEquityMethodInvestmentsAndInvestmentIncome
83577000 usd
CY2024Q3 step Investments Of Consolidated Funds
InvestmentsOfConsolidatedFunds
233398000 usd
CY2024Q1 step Investments Of Consolidated Funds
InvestmentsOfConsolidatedFunds
131858000 usd
CY2024Q3 step Investments Of Consolidated Funds Percent Of Total Investments
InvestmentsOfConsolidatedFundsPercentOfTotalInvestments
1
CY2024Q1 step Investments Of Consolidated Funds Percent Of Total Investments
InvestmentsOfConsolidatedFundsPercentOfTotalInvestments
1
CY2024Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-56000 usd
CY2023Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
271000 usd
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
CY2024Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
8262000 usd
CY2023Q3 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
8772000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
15570000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
11134000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2024Q1 us-gaap Finite Lived Intangible Assets Net
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CY2024Q3 us-gaap Amortization Of Intangible Assets
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CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap Amortization Of Intangible Assets
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CY2024Q3 us-gaap Finite Lived Intangible Assets Net
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CY2024Q1 us-gaap Goodwill
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CY2024Q3 us-gaap Goodwill
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CY2024Q3 us-gaap Goodwill Impaired Accumulated Impairment Loss
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CY2024Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
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0 shares
CY2024Q3 step Increase Decrease In Deferred Tax Assets Exchange Of Partnership Units For Common Stock
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50900000 usd
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CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.082
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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17855000 usd
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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69695315 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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69147549 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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65970053 shares
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0.26
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us-gaap Earnings Per Share Basic
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0.76
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0.26
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0.42
us-gaap Earnings Per Share Diluted
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0.46
us-gaap Earnings Per Share Diluted
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0.75
CY2024Q3 step Related Party Beneficial Owner Minimum Percentage
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80280000 usd
CY2024Q1 us-gaap Other Receivables
OtherReceivables
67531000 usd
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AccountsPayableOtherCurrentAndNoncurrent
270745000 usd
CY2024Q1 us-gaap Accounts Payable Other Current And Noncurrent
AccountsPayableOtherCurrentAndNoncurrent
212918000 usd
CY2024Q3 step Payments To Related Parties Tax Receivable Agreements
PaymentsToRelatedPartiesTaxReceivableAgreements
0 usd
CY2023Q3 step Payments To Related Parties Tax Receivable Agreements
PaymentsToRelatedPartiesTaxReceivableAgreements
0 usd
step Payments To Related Parties Tax Receivable Agreements
PaymentsToRelatedPartiesTaxReceivableAgreements
9800000 usd
step Payments To Related Parties Tax Receivable Agreements
PaymentsToRelatedPartiesTaxReceivableAgreements
7700000 usd
CY2024Q3 step Number Of Classes Of Common Stock Outstanding
NumberOfClassesOfCommonStockOutstanding
2 classofstock
CY2024Q3 us-gaap Preferred Stock Shares Authorized
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25000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
5400000 usd
CY2024Q1 step Transaction Agreement Number Of Annual Exchanges
TransactionAgreementNumberOfAnnualExchanges
10 exchange
CY2024Q1 step Transaction Agreement Number Of Additional Annual Exchanges
TransactionAgreementNumberOfAdditionalAnnualExchanges
15 exchange
CY2024Q2 step Stockholders Equity Transaction Agreement Annual Portion Of Equity Interests To Be Exchanged
StockholdersEquityTransactionAgreementAnnualPortionOfEquityInterestsToBeExchanged
0.05
CY2024Q2 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
13000000 usd
CY2024Q2 step Transaction Agreement Exchange Ratio
TransactionAgreementExchangeRatio
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CY2024Q2 step Transaction Agreement Maximum Period To Exchange Shares
TransactionAgreementMaximumPeriodToExchangeShares
P1Y
CY2024Q2 step Transaction Agreement Maximum Period To Exchange Shares In Acceleration Exchange
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P2Y
step Lessee Operating Lease Number Of Cities
LesseeOperatingLeaseNumberOfCities
26 city
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4036000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3990000 usd
us-gaap Operating Lease Cost
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8037000 usd
us-gaap Operating Lease Cost
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7827000 usd
CY2024Q3 us-gaap Variable Lease Cost
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334000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
164000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
668000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
318000 usd
CY2024Q3 us-gaap Sublease Income
SubleaseIncome
461000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
462000 usd
us-gaap Sublease Income
SubleaseIncome
919000 usd
us-gaap Sublease Income
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836000 usd
CY2024Q3 us-gaap Lease Cost
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3909000 usd
CY2023Q3 us-gaap Lease Cost
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3692000 usd
us-gaap Lease Cost
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7786000 usd
us-gaap Lease Cost
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7309000 usd
us-gaap Operating Lease Payments
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7176000 usd
us-gaap Operating Lease Payments
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6456000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P11Y
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P11Y9M18D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.047
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8391000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16793000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15465000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13275000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
15347000 usd
CY2024Q3 step Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
85479000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
154750000 usd
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
38501000 usd
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
116249000 usd
CY2024Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
117300000 usd
CY2024Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
115700000 usd
CY2024Q3 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
117300000 usd
CY2024Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
115700000 usd
CY2024Q3 step Equity Method Investment Carried Interest Allocations Maximum Amount Subject To Contingent Repayment
EquityMethodInvestmentCarriedInterestAllocationsMaximumAmountSubjectToContingentRepayment
305400000 usd
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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false
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false

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