Green Dot Corporation - GDOT STOCK NEWS

Green Dot Corporation (NYSE: GDOT) will host a conference call and earnings webcast to discuss its first quarter 2023 financial results on May 4th, 2023, at 5:00 p.m. ET. A press release detailing the financial results will be issued post-market close on the same day. Investors can access the live webcast via Green Dot's investor relations website. Founded in 1999, Green Dot is a financial technology firm providing various banking services, including debit, credit, and payroll cards, through its digital platform, GO2bank. With over 33 million customers and a network of 90,000 retail locations, it operates as a branchless bank. Its mission is to empower consumers and businesses with accessible financial solutions.

Green Dot Corporation (GDOT) reported its 2022 financial results, showcasing a 4% increase in total operating revenues to $342,432,000 and a significant turnaround with a net income of $5,884,000 compared to a loss of $10,523,000 in 2021. Diluted earnings per share rose to $0.11, up from a loss of $0.19. Non-GAAP operating revenues also grew by 5% to $336,630,000. Despite these gains, the company anticipates challenges in 2023 due to loss of partnerships and rising interest rates. The outlook reflects investments in technology transformation aimed at future growth.

Green Dot Corporation (NYSE: GDOT) has expanded its network of partners, enhancing access to financial services for underserved communities. New partners include Broxel, Greenwood, Paymentus, and DailyPay. These collaborations aim to provide critical cash access, particularly for unbanked and underbanked consumers, with statistical data highlighting that cash payments form 60% of transactions for unbanked individuals. The Green Dot Network comprises over 90,000 retail locations across the U.S., offering extensive cash-in and cash-out capabilities. Green Dot remains committed to empowering consumers through seamless, affordable banking solutions.

Green Dot Corporation (NYSE: GDOT) announced a conference call for February 23, 2023, at 5:00 PM ET to discuss its fourth-quarter 2022 financial results. The financial results will be released after market closure on the same day. Investors can access the live webcast on Green Dot's investor relations website, with a replay available post-call. Green Dot, a financial technology and registered bank holding company, aims to provide accessible and affordable banking solutions. It has served over 33 million customers and operates a network of more than 90,000 retail locations in the U.S.

Paymentus Holdings (NYSE: PAY) has expanded its Cash Bill Pay capabilities by partnering with Green Dot Corporation (NYSE: GDOT). This collaboration allows cash payments at over 90,000 retail locations across the U.S., significantly enhancing access for underbanked and unbanked consumers. Currently, more than 18.7 million U.S. households are underbanked, with an additional 5.8 million unbanked. The new service facilitates quick and secure bill payments, supporting the growth of cash transactions, which account for 20% of all payments. This aligns with Paymentus' goal of providing accessible payment solutions.

Green Dot Corporation (NYSE: GDOT) and Wealthfront have expanded their partnership to enhance the Wealthfront Cash Account. The account now offers a competitive 3.80% APY, with up to $2 million in FDIC insurance through partner banks. Clients can access features like early direct deposits, bill payments, and ATM withdrawals. Since starting the partnership in 2020, Wealthfront has attracted a significant number of millennial and Gen Z investors. The Cash Account aims to provide flexible financial solutions tailored to today’s investors' needs.

Green Dot Corporation (NYSE: GDOT) collaborates with Commonwealth, Gig Wage, and Steady to address financial challenges faced by gig workers. A study reveals that most gig workers have minimal savings and experience income volatility, often lacking emergency funds. The research evaluated the impact of financial interventions, showing that $1,000 assistance could provide relief and reduce stress. Key findings indicate 70-80% of gig workers have less than $1,000 in savings, and 76% faced financial hardships exceeding $1,000. This study aims to inform better support for gig workers.

Green Dot Corporation (NYSE: GDOT) reported Q3 2022 results, showing a 1% increase in GAAP revenues to $343.7 million but a 36% decline in net income to $4.7 million. Non-GAAP revenues rose 3% to $337.2 million, while adjusted EBITDA decreased 2% to $45.5 million. The company appointed new executives, including Chris Ruppel as Chief Revenue Officer, and reaffirmed its 2022 guidance at or slightly above previous ranges. Total operating metrics showed a drop in active accounts and purchase volume compared to the previous year.

Green Dot Corporation (NYSE: GDOT) will release its third quarter 2022 financial results on November 9, 2022, at 6pm ET. A press release will follow post-market close. The firm anticipates preliminary results will align with the high end of previous guidance shared on August 4, 2022. Additionally, the company has postponed its Investor Day originally scheduled for November 2022 due to a CEO transition, with a new date to be announced later.