Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 257

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 257
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0.63)(7.7)%15.03 15.92 (0.89)(5.6)%Number of tax refunds processed3.73 4.20 (0.47)(11.1)%11.71 13.48 (1.77)(13.1)%

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

20252024Q2Q1Q4Q3Q2Q1(In millions)Key MetricsNumber of cash transfers7.52 7.51 8.14 8.22 8.15 7.77 Number of tax refunds processed3.73 7.98 0.15 0.19 4.20 9.28 

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Segment revenues within our Money Movement services for the three months ended June 30, 2025 decreased $2.1 million, or 4%, and for the six months ended June 30, 2025 increased $5.0 million, or 3%, from the comparable prior year periods.  Segment expenses for the three and six months ended June 30, 2025 decreased $0.9 million, or 5%, and $4.8 million, or 9%, respectively.

The decrease in segment revenues for the three months ended June 30, 2025 was driven by lower tax processing revenues due to an 11% decrease in the number of tax refunds processed and from lower ancillary tax program fees that are associated with tax refund transfers. The decrease in the number of tax refunds processed is principally attributable to our online tax preparation partners. In addition, our cash transfer revenues decreased due to an 8% decrease in the number of cash transfers processed, partially offset by the mix of cash transfer types and locations where the transactions occurred, as the fees we receive vary depending on these factors. The decline in the number of cash transfers processed was due to a lower number of active accounts within our Consumer Services segment. 

The increase in segment revenues for the six months ended June 30, 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. These increases were partially offset by a 6% decline in the number of cash transfers processed during the six months ended June 30, 2025 from the prior year comparable