Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 198

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 198
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 above in "Overview." These factors include macro-economic factors leading to economic challenges for consumers and other competitive trends that have impacted account acquisition. Our gross dollar volume and purchase volume decreased year-over-year by similar levels during the nine months ended September 30, 2025. As a result of these decreases in each of our key metrics, our monthly maintenance fee revenues, ATM fee revenues and interchange revenues decreased year-over-year. In addition, our interchange rate declined due to a mix-shift toward categories of consumer purchases with lower effective rates for the comparable period, and a lower average spend per transaction.

Segment expenses for the three and nine months ended September 30, 2025 decreased from the comparable prior year periods primarily due to a decrease in overall transaction losses attributable to lower customer dispute volume across our portfolios and favorable reductions in our dispute loss rates, and lower supply chain material expenses due to fewer active accounts, partially offset by an increase in sales commissions from higher revenues on products subject to tiered revenue-sharing agreements. 

Overall, segment profit decreased for the three and nine months ended September 30, 2025 by approximately 19% and 8%, respectively, from the prior year comparable periods.

Money Movement Services

The results of operations and key metrics of our Money Movement Services segment 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)Financial ResultsSegment revenues$29,819 $31,854 $(2,035)(6.4)%$190,914 $187,967 $2,947 1.6 %Segment expenses16,915 19,137 (2,222)(11.6)%67,072 74,112 (7,040)(9.5)%Segment profit$12,904 $12,717 $187 1.5 %$123,842 $113,855 $9,987 8.8 %Key Metrics(In millions, except percentages)Number of cash transfers7.43 8.22 (0.79)(9.6)%22.46 24.14 (1.68)(7.0)%Number of tax refunds processed0.20 0.19 0.01 3.1 %11.91 13.67 (1.76)(12.9)