Green Dot (GDOT) investor relations material

Executive summary

• Total operating revenues for Q2 2026 increased 18% year-over-year to $595.9 million, driven by strong B2B Services growth and ongoing platform modernization ahead of the pending acquisition by Smith Ventures and CommerceOne.

• Net loss for Q2 2026 narrowed significantly to $2.1 million from $47.0 million in Q2 2025; net income for the six months ended June 30, 2026 was $51.7 million, compared to a net loss of $21.3 million in the prior year period.

• Strategic merger with CommerceOne and sale of the non-bank payments business to Smith Ventures are progressing, with all board and stockholder approvals obtained and regulatory approvals pending.

• Strategic investments in tax and BaaS businesses are yielding results, with new partnerships and a strong pipeline supporting future growth.

• No 2026 financial guidance provided due to pending acquisition.

Financial highlights

• Total operating revenues for Q2 2026: $595.9 million, up 18% year-over-year; non-GAAP total operating revenues: $591.3 million.

• Adjusted EBITDA for Q2 2026: $40.2 million, down 12% year-over-year; adjusted EBITDA margin: 6.8% (down from 9.1%).

• Six-month net income was $51.7 million, up from a $21.3 million loss year-over-year.

• Operating revenues for the first half of 2026 rose 18% to $1.25 billion, with B2B Services up 25% and Consumer Services down 9%.

• Gross dollar volume increased 19% year-over-year for Q2 2026, while purchase volume and active accounts in Consumer Services declined.

Outlook and guidance

• No 2026 guidance issued due to pending acquisition; management expects core results to stabilize year-over-year in 2026, excluding impacts from the merger, payments sale, and non-operating items.

• Continued investment in growth initiatives, compliance, and technology is planned, with capital expenditures expected to be lower than 2025.

• The macroeconomic environment, interest rates, and regulatory approvals for the merger and payments sale remain key uncertainties.