Company: GDOT
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001386278-25-000009
Chunk: 88

Company: GREEN DOT CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 88
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Segment profit$92,374 $77,303 $15,071 19.5 %Key Metrics(In millions, except percentages)Gross dollar volume$115,083 $79,496 $35,587 44.8 %Number of active accounts*1.79 1.52 0.27 17.8 %Purchase volume$7,964 $7,321 $643 8.8 %

* Represents number of active accounts as of December 31, 2024 and 2023, respectively.

As additional supplemental information, our key metrics within our B2B Services segment is presented on a quarterly basis as follows:

20242023Q4Q3Q2Q1Q4Q3Q2Q1(In millions)Key MetricsGross dollar volume31,222 29,490 28,116 26,255 22,065 20,217 19,602 17,612 Number of active accounts*1.79 1.68 1.65 1.58 1.52 1.51 1.36 1.43 Purchase volume2,070 1,983 1,976 1,935 1,961 1,809 1,750 1,801 

* Represents number of active accounts as of each period end.

Segment revenues within our B2B Services for the year ended December 31, 2024 increased $308.8 million, or 40%, compared to the prior year period, while our segment expenses for the year ended December 31, 2024 increased $293.7 million, or 42%.

Our gross dollar volume, purchase volume, and the average number of active accounts during the year ended December 31, 2024 increased by 45%, 9%, and 15%, respectively, from the prior year comparable period. We have continued to experience organic growth from both new and existing users 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 was driven primarily by certain BaaS programs that do not generate interchange fees and resulted in a net increase in segment revenue due to higher program management service fees earned from these BaaS partners. This increase was partially offset by the non-renewals of certain other BaaS partners in prior periods.

Segment expenses increased for the year ended December 31, 202