News Release
![]() | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Green Dot Reports Third Quarter 2017 Total Operating Revenues Up 30% to $201.6 million | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the third quarter of 2017, Green Dot reported total operating
revenues of In light of the Company’s strong Q3 results and the pace of the Company’s continuing financial momentum, Green Dot is updating its 2017 outlook by raising guidance for the remainder of the year.
Additionally, Green Dot is today announcing a new multi-year partnership
with
Said Green Dot Founder and CEO, GAAP financial results for the third quarter of 2017 compared to the third quarter of 2016:
Non-GAAP financial results for the third quarter of 2017 compared to the third quarter of 2016:1
The following table shows the Company's quarterly key business metrics for each of the last seven calendar quarters. Please refer to the Company's latest Annual Report on Form 10-K for a description of the key business metrics.
Said Updated Outlook for 2017
Green Dot has provided its updated outlook for 2017. Green Dot’s outlook
is based on a number of assumptions that management believes are
reasonable at the time of this earnings release. 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
Green Dot's non-GAAP outlook excludes Total Operating Revenues
Adjusted EBITDA2
Non-GAAP EPS2
The components of Green Dot's non-GAAP EPS2 guidance range are as follows:
Conference Call
The Company will host a conference call to discuss third quarter 2017
financial results today at 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 regarding the Company's future performance contained
under "Updated Outlook for 2017" and in the quotes of its executive
officers 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, the timing and impact of revenue growth activities, the
Company's dependence on revenues derived from Walmart, impact of
competition, the Company's reliance on retail distributors for the
promotion of its products and services, demand for the Company's new and
existing products and services, continued and improving returns from the
Company's investments in new growth initiatives, the extent to which the
Company’s processing technology partner covers the Company’s expenses
and other losses associated with the processor migration issues that
delayed the Company’s processor migration, potential difficulties in
integrating operations of acquired entities and acquired technologies,
the Company's ability to operate in a highly regulated environment,
changes to existing laws or regulations affecting the Company's
operating methods or economics, the Company'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, and the Company's
involvement litigation or investigations. These and other risks are
discussed in greater detail in the Company's About Non-GAAP Financial Measures
To supplement the Company's consolidated financial statements presented
in accordance with accounting principles generally accepted in About Green Dot
The Company's operations are comprised of two reportable segments: 1) Account Services and 2) Processing and Settlement Services. The Account Services segment consists of revenues and expenses derived from the Company's branded and private label deposit account programs. These programs include Green Dot-branded and affinity-branded GPR card accounts, private label GPR card accounts, checking accounts, open-loop gift cards and secured credit cards. The Processing and Settlement Services segment consists of revenues and expenses derived from reload services through the Green Dot Network, money processing and the Company's tax refund processing services. The Corporate and Other segment primarily consists of eliminations of intersegment revenues and expenses, unallocated corporate expenses, depreciation and amortization, and other costs that are not considered when management evaluates segment performance.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171107006726/en/ Source:
Investor Relations |