Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 188

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 188
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15.1 Processing expenses309,311 62.5 228,227 55.7 Other general and administrative expenses86,790 17.5 70,027 17.1 Restructuring and other charges19,902 4.0 — — Total operating expenses$527,657 106.5 %$412,675 100.7 %

Sales and Marketing Expenses — Sales and marketing expenses totaled $48.2 million for the three months ended September 30, 2025, a decrease of $4.4 million, or 8%, from the comparable prior year period. This decrease was driven primarily by a decrease in supply chain materials expenses, which are comprised of debit card plastics and related materials costs, from fewer active accounts, a decrease in revenue-sharing arrangements in our tax processing business and a decrease in our marketing expenses in our Consumer Services business.

Compensation and Benefits Expenses — Compensation and benefits expenses totaled $63.4 million for the three months ended September 30, 2025, an increase of $1.6 million, or 3%, from the comparable prior year period. The increase was driven primarily by an increase in accrued bonus compensation expense due to our current financial performance relative to our annual targets, partially offset by a decrease in employee stock-based compensation expense due to forfeitures of awards.

Processing Expenses — Processing expenses totaled $309.3 million for the three months ended September 30, 2025, an increase of $81.1 million, or 36%, from the comparable prior year period. This increase was principally due to growth in gross dollar volume on certain BaaS account programs within our B2B Services segment.

Other General and Administrative Expenses — Other general and administrative expenses totaled $86.8 million for the three months ended September 30, 2025, an increase of $16.8 million, or 24%, from the comparable prior year period. This increase was driven primarily by an increase in overall transaction losses attributable to an increase in our dispute loss rates, higher professional services fees associated with our strategic review process and our AML regulatory compliance initiatives, and an increase in software licenses and hosting costs due to investments in our platform and operations.

Restructuring and Other Charges — Restructuring and other charges totaled $19.9 million for the three months ended September 30, 2025, and due to our previously announced restructuring plan discussed under "Overview."  Additionally, refer to Note 19 — Restruct