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Green Dot

Green Dot (GDOT) Q1 2025 Earnings

Reported May 8, 2025 at 4:24 PM ET · SEC Source

Q1 25 EPS

$1.06

BEAT +50.01%

Est. $0.71

Q1 25 Revenue

$558.9M

BEAT +11.07%

Est. $503.2M

vs S&P Since Q1 25

-7.4%

TRAILING MARKET

GDOT +25.7% vs S&P +33.1%

Market Reaction

Did GDOT Beat Earnings? Q1 2025 Results

Green Dot posted a standout first quarter for 2025, beating Wall Street on both the top and bottom lines as its embedded finance platform fueled broad-based segment growth. Non-GAAP diluted EPS came in at $1.06, clearing the consensus estimate of $0.… Read more Green Dot posted a standout first quarter for 2025, beating Wall Street on both the top and bottom lines as its embedded finance platform fueled broad-based segment growth. Non-GAAP diluted EPS came in at $1.06, clearing the consensus estimate of $0.71 by 50.01%, while revenue of $558.87 million topped expectations by 11.07% and rose 23.6% from the year-ago period. The primary engine behind the outperformance was the B2B Services segment, where revenue climbed to $341.99 million from $241.20 million a year earlier, driven by expanding Banking-as-a-Service volume that also lifted consolidated gross dollar volume to $37.25 billion. Adjusted EBITDA reached $90.56 million, up 53% year-over-year, with margins widening to 16.3% from 13.2%. New BaaS partnerships with Samsung and Crypto.com added forward momentum to the narrative. Management responded to the strong quarter by lifting full-year 2025 non-GAAP revenue guidance to $2.00 billion to $2.10 billion and raising non-GAAP EPS guidance to $1.14 to $1.28, signaling continued confidence in its embedded finance trajectory.

Key Takeaways

  • • All three reporting segments posted profit growth simultaneously
  • • B2B Services revenue grew 42% year-over-year driven by embedded finance platform expansion
  • • Adjusted EBITDA margin expanded to 16.3% from 13.2%
  • • Consolidated gross dollar volume grew to $37.3 billion from $30.8 billion year-over-year
  • • Significant reduction in stock-based compensation and related employer payroll taxes to $3.4 million from $8.7 million
  • • Other general and administrative expenses declined significantly year-over-year
24/7 Wall St

GDOT YoY Financials

Q1 2025 vs Q1 2024, source: SEC Filings

24/7 Wall St

GDOT Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 24 Q2 26

“It was a very strong start to 2025 as we beat our projections, added significant new BaaS and money processing partners, and extended a major retail relationship. We believe this indicates our work to optimize our platform and operations over the last few years is beginning to pay off, and we look forward to sharing more updates on new partners and partner launches in the coming months. These results also reinforce my confidence that we are positioned to win in the embedded finance market, which is seeing continued demand and expansion.”

— William Jacobs, Q1 2025 Earnings Press Release

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