Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 193

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 193
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%, and $4.8 million, or 9%, respectively.

The decrease in segment revenues for the three months ended June 30, 2025 was driven by lower tax processing revenues due to an 11% decrease in the number of tax refunds processed and from lower ancillary tax program fees that are associated with tax refund transfers. The decrease in the number of tax refunds processed is principally attributable to our online tax preparation partners. In addition, our cash transfer revenues decreased due to an 8% decrease in the number of cash transfers processed, partially offset by the mix of cash transfer types and locations where the transactions occurred, as the fees we receive vary depending on these factors. The decline in the number of cash transfers processed was due to a lower number of active accounts within our Consumer Services segment. 

The increase in segment revenues for the six months ended June 30, 2025 was driven by higher tax processing revenues despite a lower number of tax refunds processed, due to the expansion of our taxpayer advance program and a favorable mix-shift in the distribution channel in which the tax refund was processed. These increases were partially offset by a 6% decline in the number of cash transfers processed during the six months ended June 30, 2025 from the prior year comparable period. The decline in the number of cash transfers processed was due to the same reasons discussed above.

Segment expenses decreased during the three and six months ended June 30, 2025 primarily due to a decrease in revenue-sharing arrangements in our tax processing business.

Corporate and Other

The results of operations and key metrics of our Corporate and Other segment for the three and six months ended June 30, 2025 and 2024 were as follows:

Three Months Ended June 30,Six Months Ended June 30,20252024Change%20252024Change%(In thousands, except percentages)Financial ResultsUnallocated revenue and inter-segment eliminations$8,567 $917 $7,650 834.2 %$17,037 $3,378 $13,659 404.4 %Unallocated corporate expenses and inter-segment eliminations58,328 55,737 2,591 4.6 %113,849 116,355 (2,506)(2.2)%Total$(49,761)$(54,820)$5,059 (9.2)%$(96,812)$(112,977)$16,165 (14.3)%

Revenues