Green Dot | 8-K: FY2026 Q1 Revenue: USD 656.25 M

Revenue: As of FY2026 Q1, the actual value is USD 656.25 M.EPS: As of FY2026 Q1, the actual value is USD 0.93, beating the estimate of USD 0.6333.EBIT: As of FY2026 Q1, the actual value is USD 69.22 M.GAAP Financial ResultsNet income: $53,753 thousand in 2026, an increase of 109% from $25,773 thousand in 2025.Non-GAAP Financial ResultsAdjusted EBITDA: $102,440 thousand in 2026, an increase of 13% from $90,559 thousand in 2025.Adjusted EBITDA margin: 15.7% in 2026, a decrease of 0.6% from 16.3% in 2025. The Adjusted EBITDA Margin was 15.7%, a decrease of 58 basis points.Non-GAAP net income: $64,970 thousand in 2026, an increase of 11% from $58,407 thousand in 2025.Operating ExpensesSales and marketing expenses: $59,313 thousand in 2026 compared to $59,688 thousand in 2025.Compensation and benefits expenses: $59,771 thousand in 2026 compared to $66,214 thousand in 2025.Processing expenses: $374,594 thousand in 2026 compared to $285,317 thousand in 2025.Other general and administrative expenses: $93,449 thousand in 2026 compared to $86,910 thousand in 2025.Restructuring and other charges: $82 thousand in 2026 compared to $0 thousand in 2025.Total operating expenses: $587,209 thousand in 2026 compared to $498,129 thousand in 2025.Other Income and ExpensesOperating income: $69,038 thousand in 2026 compared to $60,745 thousand in 2025.Interest expense, net: $1,576 thousand in 2026 compared to $1,386 thousand in 2025.Other income (expense), net: $177 thousand in 2026 compared to - $25,704 thousand in 2025.Income before income taxes: $67,639 thousand in 2026 compared to $33,655 thousand in 2025.Income tax expense: $13,886 thousand in 2026 compared to $7,882 thousand in 2025.Cash FlowNet cash provided by operating activities: $95,061 thousand in 2026 compared to $108,721 thousand in 2025.Net cash used in investing activities: - $566,597 thousand in 2026 compared to - $63,457 thousand in 2025.Net cash provided by financing activities: $696,215 thousand in 2026 compared to $135,189 thousand in 2025.Net increase in unrestricted cash, cash equivalents and restricted cash: $224,679 thousand in 2026 compared to $180,453 thousand in 2025.Unrestricted cash, cash equivalents and restricted cash, end of period: $1,646,413 thousand in 2026 compared to $1,772,888 thousand in 2025.Balance Sheet HighlightsTotal assets: $6,650,615 thousand as of March 31, 2026, an increase from $5,985,236 thousand as of December 31, 2025.Unrestricted cash and cash equivalents: $1,646,382 thousand as of March 31, 2026, an increase from $1,421,690 thousand as of December 31, 2025.Deposits: $4,528,541 thousand as of March 31, 2026, an increase from $4,416,294 thousand as of December 31, 2025.Total liabilities: $5,710,115 thousand as of March 31, 2026, an increase from $5,094,991 thousand as of December 31, 2025.Total stockholders’ equity: $940,500 thousand as of March 31, 2026, an increase from $890,245 thousand as of December 31, 2025.Cash at the holding company: Approximately $34 million as of March 31, 2026.Segment RevenueB2B Services: $417,542 thousand in 2026 compared to $341,991 thousand in 2025, an increase of 22% primarily driven by a large strategic BaaS partner.Consumer Services: $86,481 thousand in 2026 compared to $95,256 thousand in 2025, a decrease of 9% reflecting headwinds in the Retail channel and reduced marketing spend in the Direct channel.Money Movement Services: $130,705 thousand in 2026 compared to $110,247 thousand in 2025, an increase of 19% primarily benefiting from the tax processing business.Corporate and Other: $17,304 thousand in 2026 compared to $8,470 thousand in 2025.Total segment revenues: $652,032 thousand in 2026 compared to $555,964 thousand in 2025.Segment ProfitB2B Services: $28,695 thousand in 2026 compared to $27,152 thousand in 2025, an increase of 6%. Segment Profit Margin decreased 107 basis points due to revenue mix in the BaaS division.Consumer Services: $25,473 thousand in 2026 compared to $33,632 thousand in 2025, a decrease of 24% as the 9% revenue decline outpaced the 1% decline in operating expenses.Money Movement Services: $88,444 thousand in 2026 compared to $76,826 thousand in 2025, an increase of 15% driven by solid growth in the tax processing business.Corporate and Other: - $40,172 thousand in 2026 compared to - $47,051 thousand in 2025.Total segment profit (Adjusted EBITDA): $102,440 thousand in 2026 compared to $90,559 thousand in 2025.Key Operational Metrics (Consolidated)Gross dollar volume: $43,217 million in Q1 2026 compared to $37,252 million in Q1 2025, an increase of 16%.Number of active accounts: 3.43 million in Q1 2026 compared to 3.58 million in Q1 2025, a decrease of 4%.Purchase volume: $4,706 million in Q1 2026 compared to $5,113 million in Q1 2025, a decrease of 8%.Net Interchange Rate: Declined 1 basis point.Key Operational Metrics (B2B Services)Gross dollar volume: $39,338 million in Q1 2026 compared to $33,014 million in Q1 2025, an increase of 19%.Number of active accounts: 1.91 million in Q1 2026 compared to 1.78 million in Q1 2025, an increase of 7%.Purchase volume: $1,917 million in Q1 2026 compared to $1,986 million in Q1 2025, a decline of 3% almost entirely due to declines in rapid! Paycard.rapid! Paycard Revenue: Declined 12%.rapid! Paycard active accounts: Declined 13%.Key Operational Metrics (Consumer Services)Gross dollar volume: $3,879 million in Q1 2026 compared to $4,238 million in Q1 2025, a decline of 8%.Number of active accounts: 1.52 million in Q1 2026 compared to 1.80 million in Q1 2025, a decline of 16%.Direct deposit active accounts: 0.38 million in Q1 2026 compared to 0.41 million in Q1 2025, a decline of 8%.Purchase volume: $2,789 million in Q1 2026 compared to $3,127 million in Q1 2025, a decline of 11%.Retail actives: Down 12%.Direct channel actives: Saw a 25% decline.Revenue per Active Account: Increased 8%.Purchase Volume per Account: Increased 6%.Key Operational Metrics (Money Movement Services)Number of cash transfers: 7.02 million in Q1 2026 compared to 7.51 million in Q1 2025, a decrease of 7%.Number of tax refunds processed: 7.78 million in Q1 2026 compared to 7.98 million in Q1 2025, a decrease of 3%.Cash transfers from Green Dot-issued accounts: Declined 16%.Third-party volumes: Declined 3%.Tax Processing Division Revenue: Increased 28% due to a new large franchise partner and strong adoption of additional products.Outlook / GuidanceGreen Dot Corporation will not provide 2026 financial guidance due to proposed transactions with CommerceOne Financial Corporation and Smith Ventures, LLC. However, the company expects its B2B Services pipeline to support continued revenue and deposit growth, and the Money Movement Services segment is positioned to improve momentum. Additionally, new FSC partner launches and investments in user experience are anticipated to moderate revenue declines and improve customer acquisition in Consumer Services, while a solid backlog of signed partners is expected to drive re-acceleration in future transaction growth for the Money Processing division.