Green Dot Reports Third Quarter 2025 Results; Raises 2025 Guidance (Form 8-K)

Green Dot Reports Third Quarter 2025 Results; Raises 2025 Guidance

Performance Driven by Momentum in Embedded Finance with New BaaS and Money Processing Partners, and Continued Improvements in Operations and Balance Sheet Management

Provo, UT - November 10, 2025 - Green Dot Corporation (NYSE: GDOT), a financial technology and bank holding company that delivers seamless banking and payments solutions to consumers and businesses of all sizes, today reported its financial results for the quarter ended September 30, 2025.

"We delivered a strong third quarter with results exceeding expectations as we added and launched new BaaS partners and drove further improvements and efficiencies in our operations," said William Jacobs, Interim Chief Executive Officer of Green Dot. "As we capitalized on the increasing demand for our embedded finance and BaaS solutions, we also made progress on improving trends in our Consumer segment with new financial service center partners."

Consolidated Results Summary

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2025						2024						% Change						2025						2024						% Change
			(In thousands, except per share data and percentages)
GAAP financial results
Total operating revenues			$	494,826					$	409,743					21%						$	1,557,876					$	1,268,852					23%
Net loss			$	(30,791)					$	(7,840)					293%						$	(52,043)					$	(31,805)					64%
Diluted loss per common share			$	(0.56)					$	(0.15)					273%						$	(0.95)					$	(0.60)					58%
Non-GAAP financial results1
Non-GAAP total operating revenues1			$	491,853					$	406,019					21%						$	1,548,981					$	1,255,998					23%
Adjusted EBITDA1			$	23,571					$	28,315					(17)%						$	159,555					$	121,545					31%
Adjusted EBITDA/Non-GAAP total operating revenues (adjusted EBITDA margin)			4.8		%				7.0		%				(2.2)%						10.3		%				9.7		%				0.6%
Non-GAAP net income1			$	3,515					$	6,988					(50)%						$	84,160					$	51,814					62%
Non-GAAP diluted earnings per share1			$	0.06					$	0.13					(54)%						$	1.49					$	0.96					55%

Cash at the holding company was approximately $78 million as of September 30, 2025.

1			Reconciliations of total operating revenues to non-GAAP total operating revenues, net income to adjusted EBITDA, net income to non-GAAP net income, and diluted earnings per share to non-GAAP diluted earnings per share, respectively, are provided in the tables immediately following the unaudited consolidated financial statements. Additional information about the Company's non-GAAP financial measures can be found under the caption "About Non-GAAP Financial Measures" below.

Key Metrics

The following table shows Green Dot's quarterly key business metrics for each of the last seven calendar quarters on a consolidated basis and by each of its reportable segments. Please refer to Green Dot's latest Annual Report on Form 10-K for a description of the key business metrics, as well as additional information regarding how Green Dot organizes its business by segment.

			2025												2024
			Q3			Q2			Q1						Q4			Q3			Q2			Q1
			(In millions)
Consolidated *
Gross dollar volume			$	39,505		$	38,545		$	37,252					$	35,282		$	33,473		$	32,130		$	30,755
Number of active accounts			3.51			3.48			3.58						3.67			3.46			3.41			3.51
Purchase volume			$	4,736		$	4,991		$	5,113					$	5,152		$	4,887		$	5,012		$	5,274
B2B Services
Gross dollar volume			$	35,868		$	34,620		$	33,014					$	31,222		$	29,490		$	28,116		$	26,255
Number of active accounts			1.89			1.81			1.78						1.79			1.68			1.65			1.58
Purchase volume			$	2,006		$	2,000		$	1,986					$	2,070		$	1,983		$	1,976		$	1,935
Consumer Services
Gross dollar volume			$	3,637		$	3,925		$	4,238					$	4,060		$	3,983		$	4,014		$	4,500
Number of active accounts			1.62			1.67			1.80						1.88			1.78			1.76			1.93
Direct deposit active accounts			0.40			0.41			0.41						0.43			0.44			0.45			0.46
Purchase volume			$	2,730		$	2,991		$	3,127					$	3,082		$	2,904		$	3,036		$	3,339
Money Movement
Number of cash transfers			7.43			7.52			7.51						8.14			8.22			8.15			7.77
Number of tax refunds processed			0.20			3.73			7.98						0.15			0.19			4.20			9.28

* Represents the sum of Green Dot's Consumer Services and B2B (as defined herein) Services segments.

"We believe the results reflect the company's continued focus on execution of its strategic priorities which includes developing deeper relationships with our partners while focusing on driving efficiency and productivity," said Jess Unruh, Chief Financial Officer of Green Dot. "With the performance we have seen year to date we are comfortable raising our outlook for the year."

2025 Financial Guidance

Green Dot has provided its updated financial outlook for 2025. Green Dot's outlook is based on a number of assumptions that management believes are reasonable at the time of this earnings release. In particular, its outlook reflects several considerations, including but not limited to the current macro-economic environment, the effect of inflation and interest rates, negative trends within certain channels of its business, investment in strategic initiatives and compliance programs, and cost reduction initiatives. Additionally, any expenses associated with Green Dot's process to evaluate strategic alternatives are expressly excluded from its non-GAAP financial measures and outlook. Information regarding potential risks that could cause the actual results to differ from these forward-looking statements is set forth below and in Green Dot's filings with the Securities and Exchange Commission.

Total Non-GAAP Operating Revenues2

•Green Dot continues to expect its full year non-GAAP total operating revenues2 to be between $2.0 billion and $2.1 billion.

Adjusted EBITDA2

•Green Dot now expects its full year adjusted EBITDA2 to be between $165 million and $175 million, up from its previous guidance range of $160 million to $170 million.

Non-GAAP EPS2

•Green Dot now expects its full year non-GAAP EPS2 to be between $1.31 and $1.44, up from its previous guidance range of $1.28 to $1.42.

The components of Green Dot's non-GAAP EPS2 guidance range are as follows:

			Range
			Low						High
			(In millions, except per share data)
Adjusted EBITDA			$	165.0					$	175.0
Depreciation and amortization*			(64.0)						(64.0)
Net interest expense			(6.0)						(6.0)
Non-GAAP pre-tax income			$	95.0					$	105.0
Tax impact**			(20.9)						(23.1)
Non-GAAP net income			$	74.1					$	81.9
Diluted weighted-average shares issued and outstanding			56.7						56.7
Non-GAAP earnings per share			$	1.31					$	1.44

*			Excludes the impact of amortization of acquired intangible assets
**			Assumes a non-GAAP effective tax rate of approximately 22% for full year.

2			For additional information, see reconciliations of forward-looking guidance for these non-GAAP financial measures to their respective, most directly comparable projected GAAP financial measures provided in the tables immediately following the reconciliation of Net Income to Adjusted EBITDA.

Conference Call

Green Dot's management will host a conference call to discuss third quarter 2025 financial results today at 5:00 p.m. ET. The conference call can be accessed live from Green Dot's investor relations website at http://ir.greendot.com/. Green Dot uses this website as a tool to disclose important information about the company to investors and comply with its disclosure obligations under Regulation Fair Disclosure. A replay of the webcast will be available at the same website following the call. The replay will be available until Monday, November 17, 2025.