Company: GDOT
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001386278-25-000009
Chunk: 66

Company: GREEN DOT CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 66
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 businesses through our portfolio of brands, including debit, checking, credit, prepaid, and payroll cards, as well as robust money processing services, such as tax refunds, cash deposits and disbursements.

Our Chief Operating Decision Maker (our “CODM” who is our Chief Executive Officer) organizes and manages our businesses primarily on the basis of the channels in which our product and services are offered and uses net revenue and segment profit to assess profitability. Segment profit reflects each segment's net revenue less direct costs, such as sales and marketing expenses, processing expenses, transaction losses and fraud management, and customer support and related expenses. Our operations are aggregated amongst three reportable segments: 1) Consumer Services, 2) Business to Business ("B2B") Services, and 3) Money Movement Services. Net interest income, certain other investment income earned by our bank, interest profit sharing arrangements with certain BaaS partners (a reduction of revenue), eliminations of inter-segment revenues and expenses, and unallocated corporate expenses that are not considered when our CODM evaluates the performance of our three reportable segments are recorded in Corporate and Other expenses. Refer to "Part I, Item 1. Business" for more detailed information about our operations and Note 24—Segment Information to the Consolidated Financial Statements.

Consolidated Financial Results and Trends

Our consolidated results of operations for the years ended December 31, 2024 and 2023 were as follows:

Year Ended December 31,20242023Change%(In thousands, except percentages)Total operating revenues$1,723,876 $1,501,328 $222,548 14.8 %Total operating expenses1,725,544 1,478,658 246,886 16.7 %Net (loss) income(26,702)6,722 (33,424)(497.2)%

Refer to "Segment Results" below for a summary of financial results of each of our reportable segments.

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Total operating revenues

Our total operating revenues for the year ended December 31, 2024 increased $222.5 million, or 15% over the prior year comparable period, driven primarily by higher revenues in our B2B Services segment and to a lesser extent in our Money Movement Services segment, partially offset by lower revenues earned in our Consumer Services segment. 

Our consolidated total operating revenues increased year-over-year due to the continued growth of certain BaaS partner programs, which generated an