Green Dot (GDOT) investor relations material

Executive summary

• Non-GAAP revenue grew 17% year-over-year to $652M, with adjusted EBITDA up 13% and non-GAAP EPS up 6%; GAAP operating revenues rose 17% to $656.2M.

• Net income more than doubled to $53.8M from $25.8M, with diluted EPS up 98% to $0.93.

• Results exceeded expectations, driven by strong B2B and Money Movement segments, especially BaaS and tax processing.

• Disciplined expense management, higher investment earnings, and continued investments in technology and regulatory infrastructure contributed to profitability.

• The company is undergoing a strategic merger and asset sale, with significant transaction-related costs and regulatory approvals pending.

Financial highlights

• Non-GAAP revenue: $652M (+17% YoY); GAAP revenue: $656.2M (+17% YoY); Adjusted EBITDA: $102.4M (+13% YoY); Adjusted EBITDA margin: 15.7% (down 58bps YoY).

• Net income: $53.8M (+108.6% YoY); Non-GAAP net income: $65.0M (+11% YoY); Non-GAAP EPS: $1.12 (+6% YoY); Diluted EPS: $0.93 (+98% YoY).

• B2B revenue: $417.5M (+22% YoY); Money Movement revenue: $130.7M (+19% YoY); Consumer Services revenue: $86.5M (-9% YoY).

• Gross dollar volume increased 16% to $43.2B; active accounts declined 4% to 3.43M.

• Operating expenses increased 18% to $587.2M, mainly due to higher processing and administrative costs.

Outlook and guidance

• Revenue momentum expected to continue, led by B2B and Money Movement segments, with ongoing investments in platform enhancements and compliance.

• No 2026 financial guidance provided due to pending acquisition by Smith Ventures and CommerceOne.

• Cost structure improvements from China exit and organizational realignment are expected to benefit future periods.

• New partner launches and product enhancements anticipated to support future growth.