Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 262

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 262
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935 

* Represents total number of active accounts as of the end of each quarter.

Segment revenues within our B2B Services for the three and nine months ended September 30, 2025 increased $87.8 million, or 32%, and $285.2 million, or 37%, respectively, over the prior year comparable periods, while our segment expenses for the three and nine months ended September 30, 2025 increased $86.0 million, or 35%, and $265.6 million, or 38%, respectively.

Our gross dollar volume, purchase volume, and number of active accounts increased during the three months ended September 30, 2025 by 22%, 1%, and 13%, respectively, over the prior year comparable period.  Our gross dollar volume and purchase volume increased year-over-year by similar levels during the nine months ended September 30, 2025. We have continued to experience organic growth from both new and existing users concentrated in certain BaaS programs that tend to yield higher gross dollar volume per active user but do not generate comparable levels of interchange fees. The growth in gross dollar volume from these BaaS programs resulted in a net increase in segment revenue due to higher program management service fees earned from these BaaS partners.

Segment expenses increased for the three and nine months ended September 30, 2025 over the prior year comparable periods, principally due to higher processing expenses associated with the growth of certain BaaS account programs. Additionally, segment expenses increased for the three months ended September 30, 2025 over the prior year comparable period from higher transaction losses due to increases in our dispute loss rates and dollar volume and higher third-party call center support costs as a result of increases in gross dollar volume and the number of active accounts. Segment expenses for the nine months ended September 30, 2025 was driven by these same factors, however, our transaction losses decreased slightly due to favorable reductions in our dispute loss rates on a full year basis. 

As a result of these factors, our segment profit increased for the three and nine months ended September 30, 2025 by approximately 7% and 30%, respectively, over the prior year comparable periods. Although limited, our segment profit increased year-over-year from improvement in our cost structure and revised economics of certain partnerships, despite the impact of certain BaaS partnerships largely providing for a fixed profit.

Consumer Services

The results of operations and key metrics of our Consumer Services segment for the three and nine months ended September