Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 97

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 97
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 our 2024 Annual Report on Form 10-K "Part I, Item 1. Business" for more detailed information about our operations and Note 20—Segment Information in the notes to the accompanying unaudited consolidated financial statements.

29

Consolidated Financial Results and Trends

Our consolidated results of operations for the three and nine months ended September 30, 2025 and 2024 were as follows:

Three Months Ended September 30,Nine Months Ended September 30,20252024Change%20252024Change%(In thousands, except percentages)Total operating revenues$494,826 $409,743 $85,083 20.8 %$1,557,876 $1,268,852 $289,024 22.8 %Total operating expenses527,657 412,675 114,982 27.9 %1,516,563 1,284,897 231,666 18.0 %Net loss(30,791)(7,840)(22,951)292.7 %(52,043)(31,805)(20,238)63.6 %

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

Total operating revenues

Our total operating revenues for the three and nine months ended September 30, 2025 increased $85.1 million, or 21%, and $289.0 million, or 23%, respectively, over the prior year comparable periods, driven primarily by higher revenues in our B2B Services segment, partially offset by lower revenues earned in our Consumer Services segment. Continued growth of certain BaaS partner programs generated an increase of 18% and 20% in our total gross dollar volume for the three and nine months ended September 30, 2025, respectively, over the prior year comparable periods, and increased the number of consolidated active accounts during three months ended September 30, 2025 by 1%, which together increased our total operating revenues year-over-year. However, as discussed below, our total operating revenues were negatively impacted by unfavorable trends and factors in our deposit account programs, driving, among other things, a reduction in purchase volume and the effective interchange rates we earn thereon, and a reduction in the number of cash transfers of 10% and 7% for the three and nine months ended September 30, 2025, respectively, from the prior year comparable periods. 

In our B