Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 266

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 266
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 increase in segment revenues for the nine months ended September 30, 2025 was driven by higher tax processing revenues, which increased due to the expansion of our taxpayer advance program and a favorable mix-shift in the distribution channel in which tax refunds were generated, despite a 13% decline in the number of tax refunds processed. The decrease in the number of tax refunds processed during the nine months ended September 30, 2025 was principally attributable to our online tax preparation partners. These increases were partially offset by a 7% decline in the number of cash transfers processed during the nine months ended September 30, 2025 from the prior year comparable period, which was attributable to the same reasons discussed above.

Segment expenses decreased during the three and nine months ended September 30, 2025 primarily due to a decrease in revenue-sharing arrangements in our tax processing business. Overall, segment profit increased for the three and nine months ended September 30, 2025 by approximately 1% and 9%, respectively, from the prior year comparable periods.

Corporate and Other

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

Three Months Ended September 30,Nine Months Ended September 30,20252024Change%20252024Change%(In thousands, except percentages)Financial ResultsUnallocated revenue and inter-segment eliminations$9,480 $(283)$9,763 (3,450)%$26,517 $3,095 $23,422 756.8 %Unallocated corporate expenses and inter-segment eliminations60,071 51,244 8,827 17.2 %173,920 167,599 6,321 3.8 %Total$(50,591)$(51,527)$936 (1.8)%$(147,403)$(164,504)$17,101 (10.4)%

Revenues within Corporate and Other are comprised of net interest income, certain other investment income earned by our bank, interest profit sharing arrangements with certain BaaS partners (a reduction of revenue) and eliminations of inter-segment revenues. Unallocated corporate expenses include eliminations of inter-segment expenses and our fixed expenses such as salaries, wages and related benefits for our employees, professional services fees, software licenses, telephone and communication costs, rent, utilities and insurance. These costs are not considered when our CODM