Green Dot Corp Stock Price, News & Analysis

Stockpile, an investment platform known for fractional trading and stock gift cards, has launched a new family banking service powered by Green Dot. This includes a kids’ debit card and the Stockpile Tuition Rewards Program, which helps families save for college tuition. The program, in partnership with SAGE Scholars, allows families to earn up to 4,800 Tuition Rewards points annually with a Family Plus membership ($7.95/month or $69.95/year), where each point is worth $1 towards tuition at nearly 500 colleges. Points never expire and can be transferred to family members. The Stockpile app offers a user-friendly interface promoting financial literacy through saving, investing, and budgeting tools. Families can join the waitlist for priority access to the app, launching in January 2025, and receive exclusive rewards.

Green Dot (NYSE: GDOT) has announced it will release its third quarter 2024 financial results on Thursday, November 7th, 2024. The company will host a conference call and earnings webcast to discuss these results at 5:00 p.m. ET on the same day. The financial results will be issued via press release after the market closes.

Investors and interested parties can access the live webcast of the call from Green Dot's investor relations website at http://ir.greendot.com/. For those unable to attend the live event, a replay of the webcast will be made available on the same website following the call.

Green Dot (NYSE: GDOT) has completed a private placement of $45 million in 8.75% Fixed Rate Senior Notes due 2029. The Notes, offered to qualified institutional buyers and accredited investors, are unsecured with a five-year term maturing on September 15, 2029. They will bear a fixed annual interest rate of 8.75%, payable semi-annually. The company plans to use the net proceeds to repay outstanding debt under its revolving credit facility and for general corporate purposes, including working capital. Raymond James & Associates, Inc. acted as the sole placement agent for the offering.

Green Dot (NYSE: GDOT) reported its Q2 2024 financial results, indicating an 11% YOY growth in total operating revenues to $407.1 million.

The company saw a net loss of $28.7 million and a diluted loss per share of $0.54, compared to net income of $578,000 and $0.01 earnings per share in Q2 2023. Adjusted EBITDA decreased by 13% to $34 million, and Non-GAAP net income declined by 30% to $13.4 million. Unencumbered cash was approximately $63 million as of June 30, 2024.

Key business metrics showed mixed performance: consolidated gross dollar volume increased to $32.1 billion, but the number of active accounts decreased to 3.41 million. Consumer services and B2B segments showed declines in active accounts and purchase volume.

The company renewed its largest BaaS partner and made significant investments in regulatory infrastructure to support long-term growth.

PLS, a major provider of community-based financial services, has launched the Xpectations!® Plus Debit Card, powered by Green Dot's (NYSE: GDOT) embedded finance platform. This new offering provides affordable banking and payment services to PLS' five million-plus customers, including:

• Early access to direct deposits
• Overdraft protection
• Free nationwide ATM access
• Instant card issuance at participating stores

The card addresses the needs of unbanked (4.5% of U.S. households) and underbanked (14.1%) populations, offering a comprehensive digital banking experience. This partnership between PLS and Green Dot aims to simplify customers' financial lives and provide more convenient access to financial services.

Green Dot (NYSE: GDOT) has announced that it will release its second quarter 2024 financial results on August 8th, 2024, after the market closes. The company will host a conference call and webcast to discuss the results the same day at 5:00 p.m. ET. Investors can access the live webcast and subsequent replay on Green Dot’s investor relations website.

Green Dot's (NYSE: GDOT) subsidiary, rapid!, has expanded its portfolio to over 7,000 employer customers, adding nearly 1,300 new businesses in 2023.

New partnerships with Elevanta, TempWorks, and isolved will serve an estimated four million additional employees.

rapid! provides innovative payroll solutions, including earned wage access (EWA), which is shown to enhance recruitment, retention, and financial wellness.

Surveys indicate that EWA is highly valued by employees, aiding them in timely bill payments and savings, and leading to significant HR benefits for employers.

Green Dot (NYSE: GDOT) reported improved momentum in its Banking as a Service (BaaS) division and a strong start to the tax season. The company's financial results for the quarter ended March 31, 2024, showed a 9% increase in total operating revenues compared to the previous year. However, net income and diluted earnings per share saw an 87% decline. Green Dot reaffirmed its financial guidance for 2024, considering various factors like macro-economic conditions, regulatory initiatives, and the impact of partnership non-renewals.