Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 165

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 165
---
 stated. Because the obligated amounts associated with these types of agreements are not explicitly stated, the overall maximum amount of the obligation cannot be reasonably estimated. With the exception of overdrafts on accountholders’ balances, historically, we have not been required to make payments under these and similar contingent obligations, and no liabilities have been recorded for these obligations in our consolidated balance sheets. For additional information regarding overdrafts on accountholders’ balances, refer to Note 5 — Accounts Receivable.

Note 18—Significant Retailer and Partner Concentration

A credit concentration may exist if customers are involved in similar industries, economic sectors, and geographic regions. Our retail distributors operate in similar economic sectors, but diverse domestic geographic regions. The loss of a significant retail distributor could have a material adverse effect upon our card sales, profitability, and revenue growth.Revenues derived from our products sold at retail distributors constituting at least 10% of our total operating revenues were as follows: Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Walmart8%10%7%10%In addition, approximately 67% and 59% of our total operating revenues for the three months ended September 30, 2025 and 2024, respectively, and 62% and 53% for the nine months ended September 30, 2025 and 2024, respectively, were generated from a single BaaS partner, but without a corresponding concentration to our gross profit for the respective periods.

Note 19—Restructuring and Other Charges  

During the third quarter of 2025, we announced a plan to exit our operational activities in China by the end of 2025 as a means of reducing complexity and promoting long-term structural improvements for our business. As a result of this transition, we recorded restructuring and other charges of approximately $19.9 million during the three months ended September 30, 2025. These charges were primarily related to severance and employee benefits and other direct costs associated with the restructuring, including lease related termination costs.Restructuring and other charges is comprised of the following components:Three Months Ended September 30,2025(In thousands)Employee severance and benefits$17,947 Lease termination and related charges1,603 Other352 Restructuring and other charges$19,902 We generally recognize employee severance costs when payments are probable and amounts are estimable or when notification occurs. Costs related to contracts without