Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 255

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 255
---
 within our B2B Services segment.

Other General and Administrative Expenses — Other general and administrative expenses totaled $86.8 million for the three months ended September 30, 2025, an increase of $16.8 million, or 24%, from the comparable prior year period. This increase was driven primarily by an increase in overall transaction losses attributable to an increase in our dispute loss rates, higher professional services fees associated with our strategic review process and our AML regulatory compliance initiatives, and an increase in software licenses and hosting costs due to investments in our platform and operations.

Restructuring and Other Charges — Restructuring and other charges totaled $19.9 million for the three months ended September 30, 2025, and due to our previously announced restructuring plan discussed under "Overview."  Additionally, refer to Note 19 — Restructuring and Other Charges in the Consolidated Financial Statements included herein for a more detailed discussion of our restructuring and other charges.

Other Expense, net

Other expense, net totaled $1.3 million for the three months ended September 30, 2025, a decrease of $2.4 million, from the prior year comparable period. This decrease was primarily driven by a decrease in equity method losses associated with TailFin due to lower operating expenses year over year, as well as higher income earned from bank-owned life insurance policies.

38

Income Tax Expense and Benefit

The following table presents a breakdown of our effective tax rate among federal, state, and other:

 Three Months Ended September 30, 20252024U.S. federal statutory tax rate21.0 %21.0 %State income taxes, net of federal tax benefit2.9 (8.7)Foreign tax rate differential(3.1)(2.6)General business credits0.3 (24.4)Stock-based compensation(0.3)(2.6)IRC 162(m) limitation(0.8)(6.3)Bank-owned life insurance income1.2 (13.0)Bank-owned life insurance surrender— (19.2)Nondeductible expenses and penalties(0.1)57.5 Global intangible low-tax income tax0.2 3.0 Change in valuation allowance(7.4)— Other(0.1)(0.1)Effective tax rate13.8 %4.6 %

Our income tax benefit totaled $4.9 million for the three months ended September 30