$GDOT

GREEN DOT CORP

CIK:0001386278|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating revenues:
Operating revenues	$ 574,393	$ 482,675	$ 1,203,398	$ 1,019,920
Interest income, net	21,490	21,501	48,732	43,130
Total operating revenues	595,883	504,176	1,252,130	1,063,050
Operating expenses:
Sales and marketing expenses	49,359	50,159	108,672	109,847
Compensation and benefits expenses	59,003	63,847	118,774	130,061
Processing expenses	394,692	293,213	769,286	578,530
Other general and administrative expenses	93,494	83,558	186,943	170,468
Restructuring and other charges	96	0	178	0
Total operating expenses	596,644	490,777	1,183,853	988,906
Operating (loss) income	(761)	13,399	68,277	74,144
Interest expense, net	1,581	1,631	3,157	3,017
Other (expense) income, net	(13)	(74,691)	164	(100,395)
(Loss) income before income taxes	(2,355)	(62,923)	65,284	(29,268)
Income tax (benefit) expense	(268)	(15,898)	13,618	(8,016)
Net (loss) income	$ (2,087)	$ (47,025)	$ 51,666	$ (21,252)
Basic (loss) earnings per common share (in USD per share)	$ (0.04)	$ (0.85)	$ 0.92	$ (0.39)
Diluted (loss) earnings per common share (in USD per share)	$ (0.04)	$ (0.85)	$ 0.89	$ (0.39)
Basic weighted-average common shares issued and outstanding (in shares)	56,765	55,127	56,257	54,746
Diluted weighted-average common shares issued and outstanding (in shares)	56,765	55,127	58,043	54,746
Card revenues and other fees
Operating revenues:
Operating revenues	$ 476,904	$ 381,224	$ 925,579	$ 757,177
Cash processing revenues
Operating revenues:
Operating revenues	53,303	54,484	189,674	167,857
Interchange revenues
Operating revenues:
Operating revenues	$ 44,186	$ 46,967	$ 88,145	$ 94,886

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net (loss) income	$ 51,666	$ (21,252)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of property, equipment and internal-use software	36,798	31,262
Amortization of intangible assets	10,278	10,399
Provision for uncollectible overdrawn accounts from purchase transactions	4,810	6,610
Provision for loan losses	23,765	15,087
Stock-based compensation	7,826	8,757
Losses in equity method investments	3,097	78,702
Realized loss on available-for-sale investment securities	0	24,779
Amortization of premium and discount on available-for-sale investment securities	2,084	(589)
Impairment of long-lived assets	1,047	866
Other	(2,794)	(2,735)
Changes in operating assets and liabilities:
Accounts receivable, net	54,684	22,328
Prepaid expenses and other assets	11,673	12,157
Deferred expenses	71	374
Accounts payable and other accrued liabilities	(20,425)	6,342
Deferred revenue	(67)	(1,983)
Income tax receivable/payable	10,211	(13,644)
Other, net	(39)	241
Net cash provided by operating activities	194,685	177,701
Investing activities
Purchases of available-for-sale investment securities	(671,567)	(274,820)
Proceeds from maturities of available-for-sale securities	95,929	103,283
Proceeds from sales and calls of available-for-sale securities	0	730,447
Payments for property, equipment and internal-use software	(38,878)	(38,912)
Net changes in loans	(12,317)	(17,413)
Other investing activities	(957)	(921)
Net cash (used in) provided by investing activities	(627,790)	501,664
Financing activities
Borrowings on notes payable	0	14,860
Proceeds from ESPP purchases	820	2,633
Taxes paid related to net share settlement of equity awards	(5,151)	(2,633)
Net changes in deposits	185,569	86,303
Net changes in settlement assets and obligations to customers	(26,441)	(59,978)
Deferred financing costs	0	(423)
Net cash provided by financing activities	154,797	40,762
Net (decrease) increase in unrestricted cash, cash equivalents and restricted cash	(278,308)	720,127
Unrestricted cash, cash equivalents and restricted cash, beginning of period	1,421,734	1,592,435
Unrestricted cash, cash equivalents and restricted cash, end of period	1,143,426	2,312,562
Cash paid for interest	8,337	6,549
Cash paid for income taxes	3,160	5,374
Unrestricted cash and cash equivalents	1,143,395	2,312,518
Restricted cash	31	44
Total unrestricted cash, cash equivalents and restricted cash, end of period	$ 1,143,426	$ 2,312,562

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Unrestricted cash and cash equivalents	$ 1,143,395	$ 1,421,690
Restricted cash	31	44
Settlement assets	970,363	947,497
Accounts receivable, net	137,754	197,248
Prepaid expenses and other assets	63,946	73,275
Income tax receivable	1,631	589
Total current assets	2,317,120	2,640,343
Investment securities available-for-sale, at fair value	3,033,341	2,467,843
Loans to bank customers, net of allowance for credit losses of $38,005 and $21,053 as of June 30, 2026 and December 31, 2025, respectively	44,252	55,700
Prepaid expenses and other assets	151,482	154,567
Property, equipment, and internal-use software, net	200,197	198,352
Operating lease right-of-use assets	940	1,053
Deferred expenses	718	789
Net deferred tax assets	80,663	92,188
Goodwill and intangible assets	363,342	374,401
Total assets	6,192,055	5,985,236
Current liabilities:
Accounts payable	59,042	114,714
Deposits	4,640,329	4,416,294
Obligations to customers	286,709	284,978
Settlement obligations	46,827	52,916
Other accrued liabilities	149,797	153,752
Operating lease liabilities	356	325
Deferred revenue	4,307	4,224
Income tax payable	0	2,366
Total current liabilities	5,187,367	5,029,569
Other accrued liabilities	132	282
Operating lease liabilities	1,416	1,599
Notes payable	63,739	63,541
Total liabilities	5,252,654	5,094,991
Commitments and contingencies (Note 17)
Stockholders’ equity:
Class A common stock, $0.001 par value; 100,000 shares authorized as of June 30, 2026 and December 31, 2025; 56,985 and 55,565 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	57	56
Additional paid-in capital	430,971	427,477
Retained earnings	696,402	644,736
Accumulated other comprehensive loss	(188,029)	(182,024)
Total stockholders’ equity	939,401	890,245
Total liabilities and stockholders’ equity	$ 6,192,055	$ 5,985,236