Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 224

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 224
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(In millions, except percentages)Number of cash transfers7.51 7.77 (0.26)(3.3)%Number of tax refunds processed7.98 9.28 (1.30)(14.0)%

As additional supplemental information, our key metrics within our Money Movement Services segment is presented on a quarterly basis as follows:

20252024Q1Q4Q3Q2Q1(In millions)Key MetricsNumber of cash transfers7.51 8.14 8.22 8.15 7.77 Number of tax refunds processed7.98 0.15 0.19 4.20 9.28 

Segment revenues within our Money Movement services for the three months ended March 31, 2025 increased $7.1 million, or 7%, from the comparable prior year period, while segment expenses for the three months ended March 31, 2025 decreased $3.9 million, or 10%.

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The increase in segment revenues for the three months ended March 31, 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. partially offset by lower cash transfer revenues. The decrease in the number of tax refunds processed is principally attributable to our online tax preparation partners. These increases were partially offset by a 3% decline in the number of cash transfers processed during the three months ended March 31, 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 discussed above. The Green Dot Network is a service provider to accountholders in both our Consumer Services and B2B Services segments, as well as third-party programs. 

Segment expenses decreased during the three months ended March 31, 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 months ended March 31, 2025 and 2024 were as follows:

Three Months Ended March 31,20252024Change%(In thousands, except percentages)Financial ResultsUnallocated revenue and inter-segment eliminations$8,470 $2,461 $6,009 244.2 %Unallocated corporate expenses and inter-segment