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Sep 30
Green Dot Q3 2025 Earnings Report
Green Dot reported a net loss and lower adjusted EBITDA in Q3 2025 despite strong revenue growth, driven by momentum in embedded finance and improved trends in the Consumer segment.
Key Takeaways
Green Dot delivered Q3 2025 results above expectations with 21% revenue growth, though profitability was impacted by restructuring costs and increased investment in operations.
Total operating revenues reached $494.8 million, up from $409.7 million last year.
The company posted a GAAP net loss of $30.8 million, significantly wider than the $7.8 million loss in Q3 2024.
Adjusted EBITDA decreased to $23.6 million from $28.3 million in Q3 2024.
Green Dot raised its full-year guidance for adjusted EBITDA and non-GAAP EPS, reflecting confidence in operational execution.
Green Dot
Green Dot
Green Dot Revenue by Segment
Revenue by Segment
B2B Services Revenue
CapyFin.comConsumer Services Revenue
CapyFin.comMoney Movement Services Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
Green Dot raised its full-year 2025 guidance ranges for adjusted EBITDA and non-GAAP EPS, citing confidence in execution and strong partner momentum.
Positive Outlook
- FY25 non-GAAP total operating revenue now expected between $2.0B and $2.1B.
- Adjusted EBITDA guidance raised to $165M–$175M, up from $160M–$170M.
- Non-GAAP EPS guidance lifted to $1.31–$1.44.
- Continued growth in embedded finance and new BaaS partner launches.
- Operational efficiency improvements supporting margin expansion.
Challenges Ahead
- GAAP net loss projected between $65.2M and $72.8M for FY25.
- Ongoing impact of restructuring and strategic exit costs (e.g., China shutdown).
- Reduced profitability in Consumer Services compared to last year.
- Lower adjusted EBITDA margin of 4.8% in Q3 2025, down from 7.0% in Q3 2024.
- Higher legal and severance expenses impacting quarterly results.