Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 86

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 routine customer service inquiries, and the related costs to support our call center operations.(6)Compensation and benefits expenses represent the compensation and related benefits, including travel and entertainment, that we provide to our employees and third-party contractors who provide consulting support within our IT operations. (7)Other segment items in Money Movement Services consists principally of inter-segment expenses for reload services on the Green Dot Network. Other segment items in Corporate and Other primarily consists of other unallocated corporate operating expenses, such as professional services fees, hosting and software licenses, telephone and communication costs, rent, utilities, and insurance, and elimination of inter-segment expenses.The reconciliations of total segment revenues to total operating revenues are presented below:Three Months Ended March 31,20252024(In thousands)Total segment revenues$555,964 $447,423 Embedded finance commissions and processing expenses 4,427 5,100 Other income (1,517)(535)Total operating revenues$558,874 $451,988 Segment revenue adjustments represent commissions and certain processing-related costs associated with our embedded finance products and services, which are netted against revenues when evaluating segment performance, as well as certain other investment income earned by our bank, which is included in Corporate and Other.The reconciliations of segment profit to income before incomes taxes are presented below:Three Months Ended March 31,20252024(In thousands)Total segment profit$90,559 $59,232 Reconciliation to income before income taxesDepreciation and amortization of property, equipment and internal-use software15,184 16,432 Stock based compensation and related employer taxes3,443 8,706 Amortization of acquired intangible assets5,200 5,664 Impairment charges61 6,405 Legal settlement expenses937 5,880 Other expense4,989 5,591 Operating income60,745 10,554 Interest expense, net1,386 1,457 Other (expense), net(25,704)(1,810)Income before income taxes$33,655 $7,287 

23

Table of ContentsGREEN DOT CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

Note 20—Subsequent Event

On April 29, 2025, we entered into an amendment which provides for us to continue serving as the issuing bank and program manager for the Walmart MoneyCard suite of reloadable debit card products, and