Green Dot Corporation (GDOT) reported mixed fourth-quarter 2023 results, with earnings missing the Zacks Consensus Estimate but revenues surpassing the same.The company’s earnings miss disappointed investors, as the stock declined 6.6% since it reported fourth-quarter results on Feb 27.GDOT’s earnings per share (excluding 59 cents from non-recurring items) of 14 cents missed the consensus estimate by 17.7%. The metric declined 58.8% on a year-over-year basis. Revenues of $361.7 million outpaced the Zacks Co ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________________________ FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34819 (Exact name of Registrant as specified in its charter) (State or othe ...

For the quarter ended December 2023, Green Dot (GDOT) reported revenue of $361.72 million, up 7.5% over the same period last year. EPS came in at $0.14, compared to $0.34 in the year-ago quarter.The reported revenue represents a surprise of +3.31% over the Zacks Consensus Estimate of $350.14 million. With the consensus EPS estimate being $0.17, the EPS surprise was -17.65%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Exhibit 99.01 Green Dot Reports Fourth Quarter and Full Year 2023 Results Company Turns Focus to Growth with Momentum Expected to Improve in 2024 Establishes 2024 Financial Guidance Austin, TX - February 27, 2024 - Green Dot Corporation (NYSE: GDOT), a leading digital bank and fintech that delivers seamless banking and payment tools for consumers and businesses, today reported financial results for the quarter and year ended December 31, 2023. "2023 was a pivotal year as we completed our processor conversio ...

The upcoming report from Green Dot (GDOT) is expected to reveal quarterly earnings of $0.17 per share, indicating a decline of 50% compared to the year-ago period. Analysts forecast revenues of $350.14 million, representing an increase of 4% year over year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a company reveals its ear ...

AUSTIN, Texas--(BUSINESS WIRE)--Green Dot Corporation (NYSE: GDOT), a leading digital bank and fintech powering consumers and businesses with seamless banking and payment solutions, today announced the appointment of Michael Meston as Chief Human Resources Officer. Meston will play a key role in the company’s evolution as a performance-driven platform company that now operates primarily in a remote “work from anywhere” model. He will report directly to Chief Executive Officer George Gresham. “Michael is ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________________________ FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34819 (Exact name of Registrant as specified in its charter) Delaware 95-4766827 (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) 114 W 7th Street, Suite 240 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________________________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34819 (Exact name of Registrant as specified in its charter) Delaware 9 ...

1 Please see appendix at end of presentation for a reconciliation of GAAP to Non-GAAP Measures in millions, reflects change versus the prior year in millions, reflects change versus the prior year Non-GAAP Revenue1increased 2% • Adjusted EBITDA Margin of ~10.8%, down 826 bps as the company works through de-conversion of BaaS partners, the impact of rising interest rates and difficult comparisons in 2Q22 when there were several one-time benefits in segment operating expenses • Money Movement segment profit d ...

Financial Data and Key Metrics Changes - The company's non-GAAP revenue increased by 2% year-over-year, while both non-GAAP and GAAP earnings metrics declined due to various factors including deconversions and the impact of higher interest rates [93][96] - Adjusted EBITDA was down year-over-year, reflecting the challenges faced during the quarter [96] Business Line Data and Key Metrics Changes - In the Consumer segment, revenue decreased by 14% driven by a decline in active accounts, with retail channel revenue down in the upper teens year-over-year [113][114] - The B2B segment saw aggregate revenue growth of 26%, primarily driven by the BaaS channel, which experienced a revenue increase of approximately 30% [99] - GO2bank reported strong year-over-year growth in direct deposit accounts, up approximately 40%, contributing to improved revenue per account [97] Market Data and Key Metrics Changes - The direct channel experienced mid-single digit declines in revenue, although the decline in direct deposit accounts moderated, showing the slowest rate of decline in over a year [3] - The Money Movement segment's revenue was down 8% year-over-year due to a decline in cash transfer volume and timing of tax refund volume [16] Company Strategy and Development Direction - The company is focused on integrating banking, technology, and network platforms to provide market-leading financial tools at low cost, with a strong emphasis on embedded finance opportunities [92][87] - The technology transformation is nearing completion, allowing the company to operate more efficiently and redirect focus towards growth opportunities [94][88] - The company plans to shift its focus in 2024 towards building enduring revenue streams after completing internal initiatives in 2023 [109] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about stabilizing account trends and a growing pipeline, despite facing headwinds from legacy brand attrition and competitive pressures [93][126] - The company anticipates that costs associated with technology conversions will decrease as it moves into 2024, allowing for better resource allocation [95][118] Other Important Information - The company has signed new partnerships, including with Ceridian for embedded finance solutions, and is optimistic about growth in its PayCard and EWA businesses [87][120] - The company is committed to maintaining a culture of efficiency and smart investment while managing costs and expanding margins [109][110] Q&A Session All Questions and Answers Question: Insights on B2B segment performance - The B2B segment's performance was driven by the growth in remaining BaaS and PayCard business, despite roll-offs from non-renewed contracts [20][122] Question: Competition in the BaaS space - Management noted that competition has not necessarily increased but there are more opportunities arising from smaller players facing challenges in the current capital environment [126][127] Question: Progress on EWA product - The company remains excited about the EWA product, reporting high growth rates and significant integration into the U.S. payroll market [37]