Green Dot (GDOT) investor relations material

Executive summary

• Total operating revenues for Q2 2025 grew 24% year-over-year to $504.2M, led by B2B Services and new partnerships such as Samsung and Credit Sesame, while Consumer Services declines moderated and Money Movement saw margin expansion.

• Adjusted EBITDA increased 34% to $45.4M, and non-GAAP EPS rose 60% to $0.40, both exceeding expectations due to B2B momentum and higher interest income.

• Net loss widened to $47.0M in Q2 2025, primarily from a $70M one-time payment related to the Walmart contract renewal and realized investment losses.

• Raised full-year 2025 guidance for non-GAAP revenues, adjusted EBITDA, and non-GAAP EPS, citing balance sheet optimization and disciplined cost management.

• Continued investments in compliance, risk management, and technology infrastructure to support scalable, long-term growth.

Financial highlights

• Q2 2025 non-GAAP revenue grew 24% year-over-year to $501M–$504.2M; adjusted EBITDA up 34% to $45.4M; non-GAAP EPS reached $0.40, up 60% year-over-year.

• Gross dollar volume for Q2 2025 was $38.5B, up 20% year-over-year, with B2B GDV up 23% and Consumer Services GDV down 2%.

• Active accounts increased 2% year-over-year to 3.48M–4.99M, with B2B actives up 10% and Consumer Services actives down 5%.

• Money Processing revenue declined modestly due to an 8% decrease in transactions, but average revenue per transaction increased 8%.

• Q2 2025 GAAP net loss was $47.0M, up 64% year-over-year; non-GAAP net income for Q2 2025 was $22.2M, up 66% year-over-year.

Outlook and guidance

• Full-year 2025 non-GAAP revenue expected at $2.0–$2.1B; adjusted EBITDA guidance raised to $160M–$170M; non-GAAP EPS guidance increased to $1.28–$1.42.

• Q3 consolidated revenue growth expected in the mid-teens, Q4 in mid-to-upper single digits; adjusted EBITDA margins expected to decline by 100–500 basis points.

• B2B segment revenue to grow in the low-to-mid 30% range for 2025; Money Movement segment revenue expected to be flat; Consumer segment revenue projected to decline in low double digits.

• Guidance reflects macroeconomic factors, inflation, interest rates, and ongoing cost reduction initiatives.

• Dolphin Tech launch and additional FSC signings expected to impact 2026 more significantly.