Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 148

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 148
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, which are netted against revenues when evaluating segment performance, as well as certain other investment income earned by our bank, which is included in Corporate and Other.The reconciliations of segment profit to income before incomes taxes are presented below:Three Months Ended March 31,20252024(In thousands)Total segment profit$90,559 $59,232 Reconciliation to income before income taxesDepreciation and amortization of property, equipment and internal-use software15,184 16,432 Stock based compensation and related employer taxes3,443 8,706 Amortization of acquired intangible assets5,200 5,664 Impairment charges61 6,405 Legal settlement expenses937 5,880 Other expense4,989 5,591 Operating income60,745 10,554 Interest expense, net1,386 1,457 Other (expense), net(25,704)(1,810)Income before income taxes$33,655 $7,287 

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Table of ContentsGREEN DOT CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

Note 20—Subsequent Event

On April 29, 2025, we entered into an amendment which provides for us to continue serving as the issuing bank and program manager for the Walmart MoneyCard suite of reloadable debit card products, and entered into additional amendments pursuant to which we distribute our various products and services, including certain Green Dot-branded products and reload services through the Green Dot Network, at Walmart stores (collectively, the “Agreements”). The amended term of the Agreements expires on January 31, 2033, subject to an automatic one-year renewal provision under the terms of the arrangements. In consideration of the amended Agreements, we and the assignee of Walmart Inc. and its subsidiary parties, RNBW Ventures Inc., (“RNBW”), agreed to cause TailFin to pay RNBW a one-time, non-refundable incentive payment in the amount of $70 million, which we anticipate will be reflected as a component of equity in losses attributable to TailFin during the second quarter of 2025.

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Table of Contents

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Quarterly Report on Form 10-Q, including this Management’s Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements regarding future events and our future results that are subject