Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 253

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 253
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,329 9.2 48,397 11.8 Interest income, net22,668 4.6 16,077 3.9 Total operating revenues$494,826 100.0 %$409,743 100.0 %

Card Revenues and Other Fees — Card revenues and other fees totaled $393.1 million for the three months ended September 30, 2025, an increase of $82.7 million, or 27%, from the comparable prior year period. Card revenues and other fees increased primarily due to growth in gross dollar volume in our B2B Services segment programs, which resulted in higher program management service fees earned from our BaaS partners. These increases were partially offset by decreases in certain accountholder fees, such as monthly maintenance fees and ATM fees, as a result of a decline in the number of active accounts in our Consumer Services segment during the current period.

Cash Processing Revenues — Cash processing revenues totaled $33.8 million for the three months ended September 30, 2025, a decrease of $1.1 million, or 3%, from the comparable prior year period. The decrease was primarily attributable to a decrease in our cash transfer revenues due to a 10% decrease in the number of cash transfers processed due to a lower number of active accounts within our Consumer Services segment. The decrease in cash transfer revenues was partially offset by an increase in our tax processing revenues for the three months ended September 30, 2025 due to a 3% increase in the number of tax refunds processed and from higher ancillary tax program fees that are associated with tax refund transfers. 

Interchange Revenues — Interchange revenues totaled $45.3 million for the three months ended September 30, 2025, a decrease of $3.1 million, or 6%, from the comparable prior year period. The decrease was primarily due to a decrease in purchase volume of 3% and a decrease in the effective interchange rate earned from the comparable prior year period, which declined due to a mix-shift toward categories of consumer purchases with lower effective rates. In addition, our interchange fees have both fixed and variable components, and as a result, the effective rate we earn may vary based on the size of transactions, among other factors.

Interest Income, net — Net interest income totaled $22.7 million for the three months ended September 30, 2025, an increase of $6.6 million, or 41%,