Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 123

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 123
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8.14 8.22 8.15 7.77 Number of tax refunds processed0.20 3.73 7.98 0.15 0.19 4.20 9.28 

Segment revenues within our Money Movement services for the three months ended September 30, 2025 decreased $2.0 million, or 6%, and for the nine months ended September 30, 2025 increased $2.9 million, or 2%, from the prior year comparable periods. Segment expenses for the three and nine months ended September 30, 2025 decreased $2.2 million, or 12%, and $7.0 million, or 9%, respectively.

The decrease in segment revenues for the three months ended September 30, 2025 was driven by a decrease in our cash transfer revenues due to a 10% decrease in the number of cash transfers processed. The decline in the number of cash transfers processed was due to a lower number of active accounts within our Consumer Services segment and to a lesser extent, a lower number of cash transfers processed for third-party programs. The decrease was partially offset by slightly higher tax processing revenues due to an 3% increase in the number of tax refunds processed and from higher ancillary tax program fees that are associated with tax refund transfers.

The 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