Green Dot(US:GDOT)2021-08-16 19:07Non-GAAP Financial Measures - Green Dot uses non-GAAP financial measures to supplement its GAAP consolidated financial statements, excluding primarily non-cash expenses and charges[3] - These measures are not GAAP alternatives and may not be comparable to other organizations' measures[3] - Green Dot believes these measures help investors evaluate operating performance by eliminating items not indicative of core operations[3] - Management uses non-GAAP measures for planning, resource allocation, strategy evaluation, compensation metrics, and board communications[3] - Adjusted EBITDA is used to measure operating performance without regard to non-operating items, income taxes, depreciation, stock-based compensation, and other charges[3] Reconciliation of Operating Revenues - Total operating revenues for Q1 2020 were $362.2 million, decreasing to $284.3 million in Q4 2020, and increasing to $393.5 million in Q1 2021 and $369.4 million in Q2 2021[2] - After net revenue adjustments, non-GAAP total operating revenues were $346.5 million in Q1 2020, $274.5 million in Q4 2020, $379.8 million in Q1 2021, and $357.9 million in Q2 2021[2] Reconciliation of Net Income - Net income was $46.8 million in Q1 2020, a loss of $(24.0) million in Q4 2020, $25.7 million in Q1 2021, and $24.9 million in Q2 2021[2] - Non-GAAP net income was $60.4 million in Q1 2020, $17.3 million in Q4 2020, $46.1 million in Q1 2021, and $37.8 million in Q2 2021[2] Adjusted EBITDA and Margin - Adjusted EBITDA was $92.1 million in Q1 2020, $33.7 million in Q3 2020, $34.8 million in Q4 2020, $73.4 million in Q1 2021, and $62.9 million in Q2 2021[2] - Adjusted EBITDA margin was 27% in Q1 2020, 12% in Q3 2020, 13% in Q4 2020, 19% in Q1 2021, and 18% in Q2 2021[2]