Slide 1: Q4 2024 Results
Q4 2024 Results February 27th, 2025 Green Dot Corporation
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding Green Dot’s business and pipeline momentum, revenue
Slide 3: Key Q4 Highlights and Themes
Key Q4 Highlights and Themes Revenue momentum continued to improve and actives were up Focused on efficiency, adjusted Business pipelines remain solid Q4 2024 sequentially and year over year EBITDA margins were up sharply with partner launches continuing Results basis from last year to help drive re
Slide 4: Consolidated Results
Consolidated Results Non-GAAP Revenue1 Adjusted EBITDA1 Non-GAAP Revenue1 of $451.7M increased 25% • Consumer Services of $107.2M was down 4%. • B2B Services revenue of $312.1M was up 41%. • Money Movement revenue of $29.7M was up 1%. Adjusted EBITDA1 of $43.8M was up 70% • The adjusted EBITDA margi
Slide 5: Consolidated Key Metrics
Consolidated Key Metrics Active Accounts1 Gross Dollar Volume (GDV) Active accounts1 increased 3% • For the first time in several years the number of active accounts was up on a year over year basis, as growth in B2B Services active accounts of 18% more than offset an 8% decline in Consumer Services
Slide 6: Consumer Services Segment
Consumer Services Segment Segment Revenue Segment Profit Segment revenue declined 4% • Declines continue to remain largely driven by secular headwinds in the Retail channel partially offset by the impact of the recent launch of PLS. • Revenue in the Retail channel declined 4% as we have lapped the i
Slide 7: B2B Services Segment
B2B Services Segment Segment Revenue Segment Profit Segment revenue increased 41% • Growth remains largely driven by a key BaaS partner, and the rest of the BaaS division also saw growth in the quarter as they moved past the headwinds in the first half of the year as a result of client de- conversio
Slide 8: Money Movement Services Segment
Money Movement Services Segment Segment Revenue Segment Profit Segment revenue increased 1% • Growth was impacted by a slight decline in Money Processing while the Tax Processing division saw revenue growth in the quarter. The Green Dot Network, a component of the Money Processing channel, continues
Slide 9: 2025 Guidance and Outlook
2025 Guidance and Outlook Projected Non-GAAP Revenue1 of $1.85B-$1.90B Projected Adjusted EBITDA1 of $145M-$155M Projected Non-GAAP EPS1 of $1.05-$1.20 2025 Considerations Consumer Services B2B Money Movement and Outlook Segment Segment Segment Full year adjusted EBITDA is expected to Revenue growth
Slide 10: Appendix: Segment Information
Appendix Segment Information 10 Green Dot Corporation
Slide 11: Reconciliation of Segment Revenues
Reconciliation of Segment Revenues Green Dot's segment reporting is based on how its Chief Operating Decision Maker (“CODM”) manages its businesses, including resource allocation and performance assessment. Its CODM (who is the Chief Executive Officer) organizes and manages the businesses primarily
Slide 12: Reconciliation of Segment Profits
Reconciliation of Segment Profits Green Dot Corporation
Slide 13: Appendix: Division Information
Appendix Division Information 13 Green Dot Corporation
Slide 14: Retail division
Retail division Revenue Active Accounts1 Revenue declined 4% • Revenue declines moderated as secular headwinds were partially offset by the positive impact of the PLS launch. • Revenue per active1 was up 11% due to increases in volume per actives as well as utilization of other features such as over
Slide 15: Direct division
Direct division Revenue Active Accounts1 Revenue declined 4% • Declines continue due to the deliberate decision to focus growth on building out the GO2bank brand and sunsetting legacy products. • After sunsetting several legacy brands in 2Q23 (with the full impact felt in 3Q23) direct revenue has ge
Slide 16: BaaS division
BaaS division Revenue Active Accounts1 Revenue increased 47% • Revenue growth was primarily driven by a large strategic partner though the rest of the BaaS business also saw revenue growth in the quarter. Active accounts1 increased 53% • Active accounts continued to increase due to the growth of new
Slide 17: rapid! Paycard division
rapid! Paycard division Revenue Active Accounts1 Revenue declined 9% • Having now lapped the positive impact of pricing strategies enacted in the fourth quarter of 2023 revenue growth declined, reflecting the decrease in active accounts. Revenue declines were more moderate than the declines in activ
Slide 18: Money Processing division
Money Processing division Revenue Revenue Generating Transfers-GDOT Issued Revenue declined 1% • Declines remain largely driven by the decline in transactions from Green Dot-issued active accounts in the Consumer Services segment. Revenue generating cash transfers from GDOT-issued accounts declined
Slide 19: Tax Processing division
Tax Processing division Revenue Tax Refunds Processed Revenue increased 32% • In the seasonally soft third quarter, revenue was up in a quarter when small nominal increases can drive large percentage increases. Refunds processed were down 6% • Year-over-year growth in volumes in the third and fourth
Slide 20: Appendix
Appendix Non-GAAP Financial Measures 20 Green Dot Corporation
Slide 21: About Non-GAAP Financial Measures
About Non-GAAP Financial Measures To supplement Green Dot's consolidated financial statements presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), Green Dot uses measures of operating results that are adjusted for, among other things, non-op
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 26: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 27: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot Corporation
Slide 28: Non-GAAP Financial Measures
Non-GAAP Financial Measures 1) To supplement Green Dot’s consolidated financial statements presented in accordance with GAAP, Green Dot uses measures of operating results that are adjusted to exclude various, primarily non-cash, expenses and charges. These financial measures are not calculated or pr
Slide 29: Non-GAAP Financial Measures
Non-GAAP Financial Measures Green Dot understands that, although adjusted EBITDA and other non-GAAP financial measures are frequently used by investors and securities analysts in their evaluations of companies, these measures have limitations as an analytical tool, and you should not consider them i
Slide 30: Non-GAAP Financial Measures
Non-GAAP Financial Measures 5) Green Dot excludes certain income and expenses that are not reflective of ongoing operating results. It is difficult to estimate the amount or timing of these items in advance. Although these events are reflected in Green Dot's GAAP financial statements, Green Dot excl