Green Dot Corporation has recently released its 10-Q report, revealing its financial performance for the three and nine months ended September 30, 2025, compared to the same periods in 2024. The company operates as a financial technology platform and registered bank holding company, offering a range of financial services to consumers and businesses in the United States. It operates through three segments: Consumer Services, Business to Business Services, and Money Movement Services.
In the third quarter of 2025, Green Dot's total operating revenues increased by $85.1 million, or 21%, over the same period in 2024, reaching $494.8 million. For the nine months ended September 30, 2025, the company reported total operating revenues of $1.56 billion, a 23% increase from the same period in 2024. These revenue increases were primarily driven by higher revenues in the Business to Business Services segment, offset by lower revenues in the Consumer Services segment. The growth in certain Business as a Service (BaaS) partner programs contributed to an 18% and 20% increase in total gross dollar volume for the three and nine months ended September 30, 2025, respectively.
However, Green Dot's total operating expenses for the three and nine months ended September 30, 2025, increased by $115.0 million, or 28%, and $231.7 million, or 18%, respectively, over the prior year comparable periods. These increases were primarily driven by higher processing expenses associated with certain BaaS account programs within the Business to Business Services segment and an increase in other general and administrative expenses, including higher transaction losses, professional services fees, and software licenses and hosting costs.
The company also recorded a net loss of $30.8 million for the third quarter of 2025, compared to a net loss of $7.8 million in the same period in 2024. For the nine months ended September 30, 2025, Green Dot reported a net loss of $52.0 million, compared to a net loss of $31.8 million in the same period in 2024.
The 10-Q report provides a detailed breakdown of the performance of Green Dot's reportable segments, highlighting the factors contributing to the revenue and expense changes. The company's strategic decisions, such as the plan to exit operational activities in China by the end of 2025, and the impact on its financials are also outlined in the report.
Today the company's shares have moved -6.64% to a price of $11.035. For more information, read the company's full 10-Q submission here.
