Welcome to our dedicated page for Green Dot news (Ticker: GDOT), a resource for investors and traders seeking the latest updates and insights on Green Dot stock.
Green Dot Corporation (symbol: GDOT) is a leading financial technology company that, along with its wholly-owned subsidiary Green Dot Bank, aims to innovate personal banking for the broader population. Known for inventing the prepaid debit card industry, Green Dot remains the largest provider of reloadable prepaid debit cards and cash reload processing services in the United States.
Green Dot is also a pioneer in mobile banking technology, offering the award-winning GoBank mobile checking account. Through its wholly-owned subsidiary TPG, it stands as the largest processor of tax refund disbursements in the U.S.
The company's products and services are accessible through a vast
Green Dot (NYSE: GDOT) and Marqeta, Inc. (NASDAQ: MQ) have announced a strategic collaboration to enhance cash services across the United States. The partnership leverages Green Dot's extensive network of over 95,000 retail locations nationwide, enabling convenient cash deposits for Marqeta's customers.
The collaboration addresses the persistent demand for cash services, particularly among low-to-moderate income (LMI) and mature consumers aged 55-plus, who still prefer cash transactions according to Federal Reserve data. Through this partnership, customers can access cash deposit services at major retailers including Walmart, Walgreens, 7-Eleven, and CVS.
The Green Dot Network, powered by Arc, provides comprehensive coverage with 96% of the U.S. population living within three miles of a service location. This initiative aims to bridge the digital divide while offering affordable financial services, particularly beneficial in underbanked communities where traditional banks are reducing their physical presence.
Green Dot (NYSE: GDOT) reported its Q4 2024 results, marking its first positive quarter of account growth in over three years. The company's performance was characterized by accelerated revenue and earnings growth, particularly in B2B and embedded finance businesses.
The company secured new partnerships with Varo, Clip Money, DolFintech and others, demonstrating growing demand in embedded finance. Unencumbered cash stood at $86 million as of December 31, 2024.
For 2025 guidance, Green Dot projects:
- Non-GAAP total operating revenues between $1.85-1.90 billion (up ~10% YoY)
- Adjusted EBITDA between $145-155 million (down ~9% YoY)
- Non-GAAP EPS between $1.05-1.20 (down 18% YoY)
DolFinTech, a major private money transfer company, has partnered with Green Dot (NYSE: GDOT) to offer new direct deposit accounts powered by Green Dot's embedded finance platform, Arc.
This collaboration will provide Hispanic and underserved communities access to seamless banking services at over 5,500 locations nationwide. DolFinTech currently serves outbound remittance markets in the U.S., Canada, and Spain, reaching more than 20 destination countries through 500 company stores, 5,000 retail agent locations, and digital channels.
The new banking accounts will feature benefits like early access to direct deposits and overdraft protection, addressing the needs of America's unbanked (4.5% of households) and underbanked (14.1%) populations according to FDIC data.
Arc by Green Dot provides FDIC-insured banking products, regulatory expertise, and comprehensive services including customer support, fraud protection, and access to the largest retail deposit and ATM network in the U.S.
Green Dot (NYSE: GDOT) has announced it will release its fourth quarter 2024 financial results on February 27th, 2025, after market close, followed by a conference call and earnings webcast at 5:00 p.m. ET. The company has also confirmed the relocation of its headquarters to Provo, Utah, effective January 1, 2025, where Green Dot Bank is currently based.
CEO George Gresham stated that the headquarters relocation aims to streamline corporate and bank operations, supporting their priority of operational excellence, while maintaining their existing growth strategy and focus.
Varo Bank has announced a collaboration with Green Dot and CVS Health to enable zero-fee cash deposits for its customers at over 7,500 participating CVS Pharmacy locations nationwide. This service could save customers who regularly deposit cash approximately $120 or more annually.
The initiative leverages Green Dot's embedded finance platform (Arc) and money movement network. As the first all-digital nationally chartered bank in the U.S., Varo offers various fee-free banking services including no monthly fees, minimum balance requirements, transfer fees, or overdraft fees. Additional benefits include free withdrawals at 40,000+ Allpoint® ATMs, 2-day early payday with direct deposits, automatic cash back rewards, and eligibility for Varo Advance and Line of Credit services.
Green Dot (NYSE: GDOT) announced its Q3 2024 financial results, highlighting a 16% increase in total operating revenues to $409.7 million compared to Q3 2023. The company introduced 'Arc by Green Dot' to focus on the embedded finance market. Despite a larger GAAP net loss of $7.8 million (a 25% increase from last year), Green Dot saw a 19% growth in adjusted EBITDA to $28.3 million. However, non-GAAP net income declined by 6% to $7 million, and non-GAAP diluted EPS fell by 7% to $0.13. Key metrics included a gross dollar volume increase to $33.5 billion and a slight rise in active accounts to 3.46 million. Green Dot's updated financial guidance reflects challenges in its retail division and other economic factors but indicates improved momentum towards year-end.
Green Dot (NYSE: GDOT) has launched Arc by Green Dot, a comprehensive embedded finance platform offering banking as a service (BaaS) capabilities. Arc combines Green Dot's secure banking and money processing solutions on a modern, single-source platform, designed to boost retention, value, and expansion for companies at various growth stages.
A recent survey of 250 industry leaders revealed that 82% plan to increase investments in embedded finance over the next three years. The study highlighted key benefits, including revenue growth and improved customer experiences, as well as potential risks such as regulatory compliance and security concerns.
Arc by Green Dot offers direct integration with Green Dot Bank, cloud-based and scalable technology, and end-to-end banking services supported by enterprise-grade APIs. The platform aims to provide partners with FDIC-insured banking products, regulatory expertise, and comprehensive customer support.
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.
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