Green Dot(US:GDOT)2025-11-10 21:22Financial Performance - Total operating revenues for Q3 2025 were $494.8 million, a 21% increase from $409.7 million in Q3 2024[2] - Net loss for Q3 2025 was $30.8 million, compared to a net loss of $7.8 million in Q3 2024, representing a 293% increase[2] - Non-GAAP total operating revenues for Q3 2025 were $491.9 million, up 21% from $406.0 million in Q3 2024[2] - Adjusted EBITDA for Q3 2025 was $23.6 million, a 17% decrease from $28.3 million in Q3 2024[2] - Green Dot's total operating revenues for the three months ended September 30, 2025, were $494.8 million, a 20.7% increase from $409.7 million in the same period of 2024[21] - The company reported a net loss of $30.8 million for the three months ended September 30, 2025, compared to a net loss of $7.8 million in the same period of 2024[21] - Total operating revenues for Q3 2025 reached $494.826 million, a 20.8% increase from $409.743 million in Q3 2024[28] - Non-GAAP net income for the nine months ended September 2025 was $84.160 million, up from $51.814 million in the same period of 2024[30] - Total segment revenues for the nine months ended September 2025 were $1.549 billion, an increase of 23.1% from $1.256 billion in the same period of 2024[28] Revenue Segments - B2B Services segment revenue grew to $364.223 million in Q3 2025, up 31.7% from $276.402 million in Q3 2024[28] - The Consumer Services segment reported revenue of $88.331 million in Q3 2025, a decrease of 10% from $98.046 million in Q3 2024[28] - Money Movement Services segment revenue was $29.819 million in Q3 2025, down from $31.854 million in Q3 2024[28] - The Corporate and Other segment reported a profit of $9.480 million in Q3 2025, compared to a loss of $0.283 million in Q3 2024[28] Guidance and Projections - Green Dot expects full year non-GAAP total operating revenues to be between $2.0 billion and $2.1 billion[7] - Adjusted EBITDA guidance for the full year 2025 has been raised to between $165 million and $175 million[8] - Non-GAAP EPS guidance for the full year 2025 is now projected to be between $1.31 and $1.44[9] - The company projects total operating revenues for FY 2025 to be between $2,012 million and $2,112 million, with non-GAAP total operating revenues expected to range from $2,000 million to $2,100 million[39] - The projected net loss for FY 2025 is estimated to be between $72.8 million and $65.2 million, with adjusted EBITDA expected to range from $165.0 million to $175.0 million[40] Cash and Assets - Cash at the holding company was approximately $78 million as of September 30, 2025[2] - Green Dot's unrestricted cash and cash equivalents at the end of the period were $1.6 billion, up from $1.5 billion at the end of the same period in 2024[23] - Total assets as of September 30, 2025, were $5.77 billion, an increase from $5.43 billion as of December 31, 2024[19] - The company’s deposits increased to $4.22 billion as of September 30, 2025, compared to $4.01 billion at the end of 2024[19] - Green Dot's investment securities available-for-sale at fair value were $2.33 billion as of September 30, 2025, up from $2.01 billion at the end of 2024[19] Expenses and Charges - Operating expenses increased to $527.7 million for the three months ended September 30, 2025, from $412.7 million in the same period of 2024, primarily driven by processing expenses which rose to $309.3 million[21] - The company recorded $19.9 million in restructuring and other charges related to the closure of its China operations during the three months ended September 30, 2025[46] - Stock-based compensation expenses for the three months ended September 30, 2025, were $5.3 million, compared to $8.2 million in the same period of 2024[45] - The company incurred $2.4 million in transaction and related acquisition costs during the three months ended September 30, 2025[37] - Legal settlements and related expenses amounted to $4.6 million for the nine months ended September 30, 2025, compared to $32.9 million in the same period of 2024[37] Other Key Metrics - Gross dollar volume for Q3 2025 reached $39.5 billion, an increase from $38.5 billion in Q2 2025[5] - The number of active accounts in Q3 2025 was 3.51 million, up from 3.48 million in Q2 2025[5] - The company processed approximately 14 million tax refunds annually through its tax division, Santa Barbara TPG[16] - Green Dot has managed over 80 million accounts to date, both directly and through its partners[17] - Diluted earnings per share (GAAP) for Q3 2025 was $(0.56), compared to $(0.15) in Q3 2024[30] - Total segment profit for Q3 2025 was $23.571 million, compared to $28.315 million in Q3 2024, reflecting a decrease of 16.5%[30] - For the three months ended September 30, 2025, the net loss was $30.8 million compared to a net loss of $7.8 million for the same period in 2024, representing a significant increase in losses[37] - Adjusted EBITDA for the three months ended September 30, 2025, was $23.6 million, with an adjusted EBITDA margin of 4.8%, down from 7.0% in the same period of 2024[37] - The company reported a significant increase in losses from equity method investments, totaling $81.9 million for the nine months ended September 30, 2025, compared to $11.9 million in 2024[37]