May 17, 2024

Company Turns Focus to Growth with Momentum Expected to Improve in 2024

Establishes 2024 Financial Guidance

AUSTIN, Texas–(BUSINESS WIRE)–Green Dot Corporation (NYSE: GDOT), a leading digital bank and fintech that delivers seamless banking and payment tools for consumers and businesses, today reported financial results for the quarter and year ended December 31, 2023.

2023 was a pivotal year as we completed our processor conversion, streamlined costs and announced new partners in our BaaS and retail channels,” said George Gresham, Chief Executive Officer of Green Dot. “Looking forward with a more powerful and efficient foundation and a strong business pipeline, I believe we are poised to improve our revenue and adjusted EBITDA growth as we move through 2024.”

Consolidated Results Summary

 

Three Months Ended December 31,

 

 

 

Year Ended December 31,

 

 

 

 

2023

 

 

 

2022

 

 

% Change

 

 

2023

 

 

 

2022

 

 

% Change

 

(In thousands, except per share data and percentages)

 

 

GAAP financial results

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues

$

366,043

 

 

$

342,432

 

 

7

%

 

$

1,501,328

 

 

$

1,449,566

 

 

4

%

Net (loss) income

$

(23,603

)

 

$

5,884

 

 

*

 

 

$

6,722

 

 

$

64,212

 

 

(90

)%

Diluted (loss) earnings per common share

$

(0.45

)

 

$

0.11

 

 

*

 

 

$

0.13

 

 

$

1.19

 

 

(89

)%

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP financial results1

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP total operating revenues1

$

361,717

 

 

$

336,630

 

 

7

%

 

$

1,483,795

 

 

$

1,423,609

 

 

4

%

Adjusted EBITDA1

$

25,727

 

 

$

35,387

 

 

(27

)%

 

$

170,874

 

 

$

238,754

 

 

(28

)%

Adjusted EBITDA/Non-GAAP total operating revenues (adjusted EBITDA margin)

 

7.1

%

 

 

10.5

%

 

(3.4

)%

 

 

11.5

%

 

 

16.8

%

 

(5.3

)%

Non-GAAP net income1

$

7,325

 

 

$

17,712

 

 

(59

)%

 

$

85,214

 

 

$

140,024

 

 

(39

)%

Non-GAAP diluted earnings per share1

$

0.14

 

 

$

0.34

 

 

(59

)%

 

$

1.62

 

 

$

2.59

 

 

(37

)%

* Change not meaningful

 

 

 

 

 

 

 

 

 

 

 

1

Reconciliations of total operating revenues to non-GAAP total operating revenues, net income to adjusted EBITDA, net income to non-GAAP net income, and diluted earnings per share to non-GAAP diluted earnings per share, respectively, are provided in the tables immediately following the unaudited consolidated financial statements. Additional information about the Company’s non-GAAP financial measures can be found under the caption “About Non-GAAP Financial Measures” below.

Unencumbered cash at the holding company was approximately $55 million as of December 31, 2023.

Green Dot has received a proposed consent order from the Federal Reserve Board relating principally to various aspects of compliance risk management, including consumer compliance and compliance with anti-money laundering regulations. The matters addressed in the proposed consent order relate to activities and practices that commenced prior to the company’s Chief Executive Officer transition in 2020. Included in the consent order are proposals for civil money penalties related to these issues. While Green Dot is still in discussions with the Federal Reserve Board regarding these proposals, it has accrued as part of its GAAP financial results an estimated liability of $20 million related to the proposed consent order during the quarter ended December 31, 2023. Green Dot believes the estimate of the aggregate range of reasonably possible losses (meaning the likelihood of losses is more than remote but less than likely) is up to $50 million as of December 31, 2023. This estimated range of reasonably possible losses is based on currently available information for those proceedings in which Green Dot is involved and considers its best estimate of such losses for those matters for which an estimate can be made. However, there can be no assurance that its accrual is sufficient or that losses from the consent order will not exceed the estimated range.

We are confident in our financial and regulatory positions and do not expect this to impact our ability to operate and serve our customers and partners on an ongoing basis,” Gresham continued. “The regulatory environment is continuously evolving, and we are committed to partnering and fully cooperating with our regulators to ensure our products are designed and marketed in ways that put our customers’ best interests at the forefront.”

Key Metrics

The following table shows Green Dot’s quarterly key business metrics for each of the last eight calendar quarters on a consolidated basis and by each of its reportable segments. Please refer to Green Dot’s latest Quarterly Report on Form 10-Q for a description of the key business metrics, as well as additional information regarding how Green Dot organizes its business by segment.

 

2023

 

2022

 

Q4

Q3

Q2

Q1

 

Q4

Q3

Q2

Q1

 

(In millions)

Consolidated *

 

 

 

 

 

 

 

 

 

Gross dollar volume

$

26,355

$

24,836

$

24,724

$

23,289

 

$

20,010

$

18,682

$

17,356

$

17,436

Number of active accounts

 

3.57

 

3.67

 

3.71

 

3.84

 

 

4.15

 

4.33

 

4.61

 

4.93

Purchase volume

$

5,273

$

5,362

$

5,734

$

6,145

 

$

6,292

$

6,443

$

6,760

$

7,192

Consumer Services

 

 

 

 

 

 

 

 

 

Gross dollar volume

$

4,290

$

4,619

$

5,122

$

5,677

 

$

5,426

$

5,495

$

5,715

$

6,621

Number of active accounts

 

2.05

 

2.16

 

2.35

 

2.41

 

 

2.37

 

2.51

 

2.78

 

3.04

Direct deposit active accounts

 

0.49

 

0.52

 

0.59

 

0.60

 

 

0.63

 

0.66

 

0.67

 

0.69

Purchase volume

$

3,312

$

3,553

$

3,984

$

4,344

 

$

4,229

$

4,302

$

4,588

$

5,017

B2B Services

 

 

 

 

 

 

 

 

 

Gross dollar volume

$

22,065

$

20,217

$

19,602

$

17,612

 

$

14,584

$

13,187

$

11,641

$

10,815

Number of active accounts

 

1.52

 

1.51

 

1.36

 

1.43

 

 

1.78

 

1.82

 

1.83

 

1.89

Purchase volume

$

1,961

$

1,809

$

1,750

$

1,801

 

$

2,063

$

2,141

$

2,172

$

2,175

Money Movement

 

 

 

 

 

 

 

 

 

Number of cash transfers

 

8.19

 

8.31

 

8.66

 

8.70

 

 

9.03

 

9.16

 

9.00

 

8.87

Number of tax refunds processed

 

0.16

 

0.20

 

3.87

 

9.91

 

 

0.20

 

0.28

 

4.48

 

9.61

* Represents the sum of Green Dot’s Consumer Services and B2B (as defined herein) Services segments.

Over the course of 2023, we faced numerous headwinds that impacted our financial performance, namely higher interest rates, client de-conversions and elevated spending on a variety of initiatives, including our processor conversions,” said Jess Unruh, Chief Financial Officer of Green Dot. “As I look at 2024, I expect to return to growth in the second half of the year as we lap tough comparisons, and more fully realize the benefit of new partner launches, expense management initiatives and other measures that we undertook in 2023.”

2024 Financial Guidance

Green Dot has provided its financial outlook for 2024. Green Dot’s outlook is based on a number of assumptions that management believes are reasonable at the time of this earnings release. In particular, its outlook reflects several considerations, including but not limited to the current macro-economic environment, the effect of high inflation and interest rates, the impact of previously disclosed non-renewals of certain partnerships and programs, the company’s decision to wind down many of its legacy cardholder programs in support of GO2bank, negative trends within certain channels of its business, investment in strategic initiatives and compliance programs, and cost reduction initiatives. Additionally, any fines or direct losses in excess of Green Dot’s accrual for the proposed consent order are expressly excluded from its outlook. Information regarding potential risks that could cause the actual results to differ from these forward-looking statements is set forth below and in Green Dot’s filings with the Securities and Exchange Commission.

Total Non-GAAP Operating Revenues2

  • Green Dot expects its full year non-GAAP total operating revenues2 to be between $1.55 billion and $1.60 billion, or up approximately 6% year over year at the mid-point.

Adjusted EBITDA2

  • Green Dot expects its full year adjusted EBITDA2 to be between $170 million and $180 million, or up approximately 2% year over year at the mid-point.

Non-GAAP EPS2

  • Green Dot expects its full year non-GAAP EPS2 to be between $1.45 and $1.59, or down 6% year over year at the mid-point.

The components of Green Dot’s non-GAAP EPS2 guidance range are as follows:

 

Range

 

Low

 

High

 

(In millions, except per share data)

Adjusted EBITDA

$

170.0

 

 

$

180.0

 

Depreciation and amortization*

 

(66.0

)

 

 

(66.0

)

Net interest expense

 

(3.0

)

 

 

(3.0

)

Non-GAAP pre-tax income

$

101.0

 

 

$

111.0

 

Tax impact**

 

(22.7

)

 

 

(25.0

)

Non-GAAP net income

$

78.3

 

 

$

86.0

 

Non-GAAP diluted weighted-average shares issued and outstanding

 

54.0

 

 

 

54.0

 

Non-GAAP earnings per share

$

1.45

 

 

$

1.59

 

*

Excludes the impact of amortization of acquired intangible assets

**

Assumes a non-GAAP effective tax rate of approximately 22.5% for full year.

2

For additional information, see reconciliations of forward-looking guidance for these non-GAAP financial measures to their respective, most directly comparable projected GAAP financial measures provided in the tables immediately following the reconciliation of Net Income to Adjusted EBITDA.

Conference Call

Green Dot’s management will host a conference call to discuss fourth quarter and full year 2023 financial results today at 5:00 p.m. ET. The conference call can be accessed live from Green Dot’s investor relations website at http://ir.greendot.com/. Green Dot uses this website as a tool to disclose important information about the company to investors and comply with its disclosure obligations under Regulation Fair Disclosure. A replay of the webcast will be available at the same website following the call. The replay will be available until Tuesday, March 5, 2024.

Forward-Looking Statements

This earnings release 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 in the quotes of Green Dot’s executive officers and under the heading “2024 Financial Guidance,” and other future events that involve risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements contained in this earnings release, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from those projected include, among other things, Green Dot’s ability to achieve the expected cost savings and other benefits from its processor conversions, impacts from and changes in general economic conditions on Green Dot’s business, results of operations and financial condition, shifts in consumer behavior towards electronic payments, the timing and impact of revenue growth activities, Green Dot’s dependence on revenues derived from Walmart, the timing and impact of non-renewals or terminations of agreements with other large partners, impact of competition, Green Dot’s reliance on retail distributors for the promotion of its products and services, demand for Green Dot’s new and existing products and services, continued and improving returns from Green Dot’s investments in strategic initiatives, Green Dot’s ability to operate in a highly regulated environment, including with respect to any restrictions imposed on its business, changes to governmental policies or rulemaking or enforcement priorities affecting financial institutions or to existing laws or regulations affecting Green Dot’s operating methods or economics, Green Dot’s reliance on third-party vendors, changes in credit card association or other network rules or standards, changes in card association and debit network fees or products or interchange rates, instances of fraud developments in the prepaid financial services industry that impact prepaid debit card usage generally, business interruption or systems failure, economic, political and other conditions may adversely affect trends in consumer spending and Green Dot’s involvement in litigation or investigations. These and other risks are discussed in greater detail in Green Dot’s Securities and Exchange Commission filings, including its most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on Green Dot’s investor relations website at ir.greendot.com and on the SEC website at www.sec.gov. All information provided in this release and in the attachments is as of February 27, 2024, and Green Dot assumes no obligation to update this information as a result of future events or developments, except as required by law.

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-operating net interest income and expense; other non-interest investment income earned by its bank; income tax benefit and expense; depreciation and amortization, including amortization of acquired intangibles; certain legal settlement gains and charges; stock-based compensation and related employer payroll taxes; changes in the fair value of contingent consideration; transaction costs from acquisitions; amortization attributable to deferred financing costs, impairment charges; extraordinary severance expenses; earnings or losses from equity method investments; changes in the fair value of loans held for sale; commissions and certain processing-related costs associated with Banking as a Service (“BaaS”) products and services where Green Dot does not control customer acquisition; realized gains on investment securities; other charges and income not reflective of ongoing operating results; and income tax effects. This earnings release includes non-GAAP total operating revenues, adjusted EBITDA, non-GAAP net income, and non-GAAP diluted earnings per share. These non-GAAP financial measures are not calculated or presented in accordance with, and are not alternatives or substitutes for, financial measures prepared in accordance with GAAP, and should be read only in conjunction with Green Dot’s financial measures prepared in accordance with GAAP. Green Dot’s non-GAAP financial measures may be different from similarly-titled non-GAAP financial measures used by other companies. Green Dot believes that the presentation of non-GAAP financial measures provides useful information to management and investors regarding underlying trends in its consolidated financial condition and results of operations. Green Dot’s management regularly uses these supplemental non-GAAP financial measures internally to understand, manage and evaluate Green Dot’s business and make operating decisions. For additional information regarding Green Dot’s use of non-GAAP financial measures and the items excluded by Green Dot from one or more of its historic and projected non-GAAP financial measures, investors are encouraged to review the reconciliations of Green Dot’s historic and projected non-GAAP financial measures to the comparable GAAP financial measures, which are attached to this earnings release, and which can be found by clicking on “Financial Information” in the Investor Relations section of Green Dot’s website at http://ir.greendot.com/.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and registered bank holding company committed to giving all people the power to bank seamlessly, affordably, and with confidence. Green Dot’s technology platform enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money and making financial empowerment more accessible for all.

Green Dot offers a broad set of financial products to consumers and businesses including debit, checking, credit, prepaid, and payroll cards, as well as robust money processing services, such as tax refunds, cash deposits and disbursements. Its flagship digital banking platform GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. The company’s banking platform services business enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy customized, seamless, value-driven money management solutions for their customers.

Founded in 1999, Green Dot has served more than 33 million customers directly and many millions more through its partners. The Green Dot Network of more than 90,000 retail distribution locations nationwide, more than all remaining bank branches in the U.S. combined, enables it to operate primarily as a “branchless bank.” Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC. For more information about Green Dot’s products and services, please visit www.greendot.com.

GREEN DOT CORPORATION

CONSOLIDATED BALANCE SHEETS

 

 

December 31, 2023

 

December 31, 2022

 

(unaudited)

 

 

Assets

(In thousands, except par value)

Current assets:

 

 

 

Unrestricted cash and cash equivalents

$

682,263

 

 

$

813,945

 

Restricted cash

 

4,239

 

 

 

5,900

 

Investment securities available-for-sale, at fair value

 

33,859

 

 

 

 

Settlement assets

 

737,989

 

 

 

493,395

 

Accounts receivable, net

 

110,141

 

 

 

74,437

 

Prepaid expenses and other assets

 

69,419

 

 

 

78,155

 

Total current assets

 

1,637,910

 

 

 

1,465,832

 

Investment securities available-for-sale, at fair value

 

2,203,142

 

 

 

2,363,687

 

Loans to bank customers, net of allowance for credit losses of $11,383 and $9,078 as of December 31, 2023 and December 31, 2022, respectively

 

30,534

 

 

 

21,421

 

Prepaid expenses and other assets

 

221,656

 

 

 

192,901

 

Property, equipment, and internal-use software, net

 

179,376

 

 

 

160,222

 

Operating lease right-of-use assets

 

5,342

 

 

 

8,316

 

Deferred expenses

 

1,546

 

 

 

14,547

 

Net deferred tax assets

 

117,139

 

 

 

117,167

 

Goodwill and intangible assets

 

420,477

 

 

 

445,083

 

Total assets

$

4,817,122

 

 

$

4,789,176

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

119,870

 

 

$

113,891

 

Deposits

 

3,293,603

 

 

 

3,450,105

 

Obligations to customers

 

314,278

 

 

 

218,239

 

Settlement obligations

 

57,001

 

 

 

40,691

 

Amounts due to card issuing banks for overdrawn accounts

 

225

 

 

 

328

 

Other accrued liabilities

 

91,239

 

 

 

98,580

 

Operating lease liabilities

 

3,369

 

 

 

3,167

 

Deferred revenue

 

6,343

 

 

 

25,029

 

Line of credit

 

61,000

 

 

 

 

Income tax payable

 

6,262

 

 

 

11,641

 

Total current liabilities

 

3,953,190

 

 

 

3,961,671

 

Other accrued liabilities

 

1,895

 

 

 

5,777

 

Operating lease liabilities

 

2,687

 

 

 

5,247

 

Line of credit

 

 

 

 

35,000

 

Total liabilities

 

3,957,772

 

 

 

4,007,695

 

 

 

 

 

Stockholders’ equity:

 

 

 

Class A common stock, $0.001 par value; 100,000 shares authorized as of December 31, 2023 and December 31, 2022; 52,816 and 51,674 shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively

 

53

 

 

 

52

 

Additional paid-in capital

 

375,980

 

 

 

340,575

 

Retained earnings

 

770,304

 

 

 

763,582

 

Accumulated other comprehensive loss

 

(286,987

)

 

 

(322,728

)

Total stockholders’ equity

 

859,350

 

 

 

781,481

 

Total liabilities and stockholders’ equity

$

4,817,122

 

 

$

4,789,176

 

GREEN DOT CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 

 

Three Months Ended December 31,

 

Year Ended December 31,

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

 

(In thousands, except per share data)

Operating revenues:

 

 

 

 

 

 

 

Card revenues and other fees

$

272,185

 

 

$

225,339

 

 

$

1,007,565

 

 

$

876,318

 

Cash processing revenues

 

33,491

 

 

 

36,632

 

 

 

225,416

 

 

 

235,445

 

Interchange revenues

 

52,053

 

 

 

69,345

 

 

 

231,003

 

 

 

295,646

 

Interest income, net

 

8,314

 

 

 

11,116

 

 

 

37,344

 

 

 

42,157

 

Total operating revenues

 

366,043

 

 

 

342,432

 

 

 

1,501,328

 

 

 

1,449,566

 

Operating expenses:

 

 

 

 

 

 

 

Sales and marketing expenses

 

50,795

 

 

 

70,002

 

 

 

245,325

 

 

 

297,900

 

Compensation and benefits expenses

 

45,594

 

 

 

58,196

 

 

 

238,528

 

 

 

243,939

 

Processing expenses

 

178,673

 

 

 

131,719

 

 

 

639,228

 

 

 

481,460

 

Other general and administrative expenses

 

117,253

 

 

 

74,436

 

 

 

355,577

 

 

 

331,892

 

Total operating expenses

 

392,315

 

 

 

334,353

 

 

 

1,478,658

 

 

 

1,355,191

 

Operating (loss) income

 

(26,272

)

 

 

8,079

 

 

 

22,670

 

 

 

94,375

 

Interest expense, net

 

906

 

 

 

112

 

 

 

3,027

 

 

 

255

 

Other income (expense), net

 

1,040

 

 

 

(1,142

)

 

 

(5,010

)

 

 

(10,199

)

(Loss) income before income taxes

 

(26,138

)

 

 

6,825

 

 

 

14,633

 

 

 

83,921

 

Income tax (benefit) expense

 

(2,535

)

 

 

941

 

 

 

7,911

 

 

 

19,709

 

Net (loss) income

$

(23,603

)

 

$

5,884

 

 

$

6,722

 

 

$

64,212

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per common share:

$

(0.45

)

 

$

0.11

 

 

$

0.13

 

 

$

1.20

 

Diluted (loss) earnings per common share

$

(0.45

)

 

$

0.11

 

 

$

0.13

 

 

$

1.19

 

Basic weighted-average common shares issued and outstanding:

 

52,622

 

 

 

51,901

 

 

 

52,251

 

 

 

53,351

 

Diluted weighted-average common shares issued and outstanding:

 

52,622

 

 

 

52,299

 

 

 

52,510

 

 

 

53,871

 

GREEN DOT CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

Year Ended December 31,

 

 

2023

 

 

 

2022

 

 

(In thousands)

Operating activities

 

 

 

Net income

$

6,722

 

 

$

64,212

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization of property, equipment and internal-use software

 

58,714

 

 

 

57,101

 

Amortization of intangible assets

 

24,257

 

 

 

23,509

 

Provision for uncollectible overdrawn accounts from purchase transactions

 

24,771

 

 

 

13,771

 

Provision for loan losses

 

26,311

 

 

 

32,352

 

Stock-based compensation

 

33,744

 

 

 

34,812

 

Losses in equity method investments

 

9,310

 

 

 

15,648

 

Amortization of discount on available-for-sale investment securities

 

(2,276

)

 

 

(1,434

)

Impairment of long-lived assets

 

 

 

 

4,264

 

Deferred income tax benefit

 

(11,867

)

 

 

(6,674

)

Other

 

(4,100

)

 

 

(4,666

)

Changes in operating assets and liabilities:

 

 

 

Accounts receivable, net

 

(60,475

)

 

 

(7,807

)

Prepaid expenses and other assets

 

3,354

 

 

 

5,417

 

Deferred expenses

 

13,001

 

 

 

2,308

 

Accounts payable and other accrued liabilities

 

690

 

 

 

41,098

 

Deferred revenue

 

(19,539

)

 

 

(3,694

)

Income tax receivable/payable

 

(5,613

)

 

 

11,716

 

Other, net

 

515

 

 

 

(4,247

)

Net cash provided by operating activities

 

97,519

 

 

 

277,686

 

 

 

 

 

Investing activities

 

 

 

Purchases of available-for-sale investment securities

 

 

 

 

(931,549

)

Proceeds from maturities of available-for-sale securities

 

176,665

 

 

 

293,748

 

Proceeds from sales and calls of available-for-sale securities

 

186

 

 

 

3,488

 

Payments for property, equipment and internal-use software

 

(75,942

)

 

 

(84,326

)

Net changes in loans

 

(28,970

)

 

 

(32,057

)

Investment in TailFin Labs, LLC

 

(35,000

)

 

 

(35,000

)

Purchases of other investments

 

 

 

 

(31,934

)

Other investing activities

 

(3,782

)

 

 

(2,558

)

Net cash provided by (used in) investing activities

 

33,157

 

 

 

(820,188

)

 

 

 

 

Financing activities

 

 

 

Borrowings on revolving line of credit

 

282,000

 

 

 

100,000

 

Repayments on revolving line of credit

 

(256,000

)

 

 

(65,000

)

Proceeds from exercise of options and ESPP purchases

 

5,565

 

 

 

6,177

 

Taxes paid related to net share settlement of equity awards

 

(3,903

)

 

 

(5,947

)

Net changes in deposits

 

(159,436

)

 

 

157,140

 

Net changes in settlement assets and obligations to customers

 

(132,245

)

 

 

(53,991

)

Contingent consideration payments

 

 

 

 

(1,647

)

Repurchase of Class A common stock

 

 

 

 

(95,525

)

Other financing activities

 

 

 

 

(4,500

)

Net cash (used in) provided by financing activities

 

(264,019

)

 

 

36,707

 

 

 

 

 

Net decrease in unrestricted cash, cash equivalents and restricted cash

 

(133,343

)

 

 

(505,795

)

Unrestricted cash, cash equivalents and restricted cash, beginning of period

 

819,845

 

 

 

1,325,640

 

Unrestricted cash, cash equivalents and restricted cash, end of period

$

686,502

 

 

$

819,845

 

 

 

 

 

Cash paid for interest

$

5,923

 

 

$

627

 

Cash paid for income taxes

$

24,351

 

 

$

12,966

 

 

 

 

 

Reconciliation of unrestricted cash, cash equivalents and restricted cash at end of period:

 

 

 

Unrestricted cash and cash equivalents

$

682,263

 

 

$

813,945

 

Restricted cash

 

4,239

 

 

 

5,900

 

Total unrestricted cash, cash equivalents and restricted cash, end of period

$

686,502

 

 

$

819,845

 

Contacts

Investor Relations: IR@greendot.com
Media Relations: PR@greendotcorp.com

Read full story here

The post Green Dot Reports Fourth Quarter and Full Year 2023 Results appeared first on Daily Host News.

Green Dot Reports Fourth Quarter and Full Year 2023 Results first appeared on Web and IT News.

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