Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 191

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 191
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, an increase of $3.2 million, or 2%, from the comparable prior year period. In our Money Movement Services segment, our tax processing revenues increased from the expansion of our taxpayer advance program and a favorable mix-shift in the distribution channel in which tax refunds were generated, despite a 13% decline in the number of tax refunds processed. The decrease in the number of tax refunds processed is principally attributable to our online tax preparation partners. The increase in tax processing revenues was partially offset by a 7% decline in the number of cash transfers processed during the nine months ended September 30, 2025 from the prior year comparable period. The decline in the number of cash transfers processed was due to a lower number of active accounts within our Consumer Services segment.

Interchange Revenues — Interchange revenues totaled $140.2 million for the nine months ended September 30, 2025, a decrease of $8.8 million, or 6%, from the comparable prior year period. The decrease was primarily due to a decrease in purchase volume of 2% and a decrease in the effective interchange rate earned as discussed under “Comparison of Three-Month Periods Ended September 30, 2025 and 2024—Operating Revenues—Interchange Revenues."

Interest Income, net — Net interest income totaled $65.8 million for the nine months ended September 30, 2025, an increase of $22.3 million, or 51%, from the comparable prior year period. This increase was driven principally by the same factors discussed above under “Comparison of Three-Month Periods Ended September 30, 2025 and 2024—Operating Revenues—Interest Income, net."

40

Operating Expenses

The following table presents a breakdown of our operating expenses among sales and marketing, compensation and benefits, processing, and other general and administrative expenses:

 Nine Months Ended September 30, 20252024Amount% of TotalOperating RevenuesAmount% of TotalOperating Revenues (In thousands, except percentages)Operating expenses:    Sales and marketing expenses$158,090 10.1 %$167,948 13.2 %Compensation and benefits expenses193,472 12.4 189,967 15.0 Processing expenses887,841 57.0 631,789 49.8 Other general and administrative expenses257,258 16.5 295,193 23.3 Restructuring and other charges19,902