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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Reportable Segments | The following tables present financial information for each of our reportable segments for the periods then ended:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Segment Revenue |  |  |  |  | (In thousands)
Consumer Services |  |  |  |  | $ | 100,612 |  |  | $ | 139,833 |
B2B Services |  |  |  |  | 241,200 |  |  | 171,292 |
Money Movement Services |  |  |  |  | 103,150 |  |  | 98,241 |
Corporate and Other |  |  |  |  | 2,461 |  |  | 2,997 |
Total segment revenues |  |  |  |  | 447,423 |  |  | 412,363 |
BaaS commissions and processing expenses |  |  |  |  | 5,100 |  |  | 4,760 |
Other income |  |  |  |  | (535) |  |  | (743) |
Total operating revenues |  |  |  |  | $ | 451,988 |  |  | $ | 416,380 |
Segment revenue adjustments represent commissions and certain processing-related costs associated with our BaaS products and services, which are netted against our B2B Services revenues when evaluating segment performance, as well as certain other investment income earned by our bank, which is included in Corporate and Other. Note 19—Segment Information (continued)
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Segment Profit |  |  |  |  | (In thousands)
Consumer Services |  |  |  |  | $ | 33,259 |  |  | $ | 52,752 |
B2B Services |  |  |  |  | 18,283 |  |  | 22,219 |
Money Movement Services |  |  |  |  | 65,847 |  |  | 61,026 |
Corporate and Other |  |  |  |  | (58,157) |  |  | (53,454) |
Total segment profit |  |  |  |  | 59,232 |  |  | 82,543 |
Reconciliation to income before income taxes |  |  |  |  |  |  |
Depreciation and amortization of property, equipment and internal-use software |  |  |  |  | 16,432 |  |  | 13,701 |
Stock based compensation and related employer taxes |  |  |  |  | 8,706 |  |  | 9,549 |
Amortization of acquired intangible assets |  |  |  |  | 5,664 |  |  | 5,664 |
Impairment charges |  |  |  |  | 6,405 |  |  | — |
Legal settlements and related expenses |  |  |  |  | 5,880 |  |  | 100 |
Other expense |  |  |  |  | 5,591 |  |  | 2,534 |
Operating income |  |  |  |  | 10,554 |  |  | 50,995 |
Interest expense, net |  |  |  |  | 1,457 |  |  | 1,644 |
Other expense, net |  |  |  |  | (1,810) |  |  | (3,024) |
Income before income taxes |  |  |  |  | $ | 7,287 |  |  | $ | 46,327 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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