Green Dot Q2 revenues up 11% to $407M; posts GAAP net loss of $28.7M

GREEN DOT CORP

GAAP net loss $28.7M, diluted EPS loss $0.54 vs prior year income $0.01.
Total operating revenues $407.1M, up 11% YoY; non-GAAP revenues $402.6M.
Adjusted EBITDA $34.0M (margin 8.4%), down 13% YoY; non-GAAP EPS $0.25 vs $0.37.
Renewed largest BaaS partner; investing in risk management and regulatory compliance.
Unencumbered cash at holding company ~$63M as of June 30, 2024.

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