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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Reportable Segments | The following tables present key financial information for each of our reportable segments for the periods then ended:
| Year Ended December 31, 2024
| Consumer Services |  | B2B Services |  | Money Movement Services |  | Corporate and Other |  | Total
| (In thousands)
Total segment revenues | $ | 402,462 |  |  | $ | 1,081,804 |  |  | $ | 217,657 |  |  | $ | 5,792 |  |  | $ | 1,707,715 |
Segment expenses (1) |  |  |  |  |  |  |  |  |
Sales and marketing expenses (2) | 123,038 |  |  | 16,598 |  |  | 72,784 |  |  | — |  |  | 212,420 |
Processing expenses (3) | 35,124 |  |  | 814,952 |  |  | 1,533 |  |  | — |  |  | 851,609 |
Transaction losses and fraud management (4) | 67,626 |  |  | 102,766 |  |  | 7,694 |  |  | — |  |  | 178,086 |
Customer support and related expenses (5) | 14,774 |  |  | 55,114 |  |  | 2,499 |  |  | — |  |  | 72,387 |
Compensation and benefits expenses (6) | — |  |  | — |  |  | — |  |  | 130,116 |  |  | 130,116 |
Other segment items (7) | — |  |  | — |  |  | 10,565 |  |  | 87,146 |  |  | 97,711 |
Total segment expenses | 240,562 |  |  | 989,430 |  |  | 95,075 |  |  | 217,262 |  |  | 1,542,329 |
Segment profit | $ | 161,900 |  |  | $ | 92,374 |  |  | $ | 122,582 |  |  | $ | (211,470) |  |  | $ | 165,386 |
| Year Ended December 31, 2023
| Consumer Services |  | B2B Services |  | Money Movement Services |  | Corporate and Other |  | Total
| (In thousands)
Total segment revenues | $ | 498,617 |  |  | $ | 772,991 |  |  | $ | 209,674 |  |  | $ | 2,513 |  |  | $ | 1,483,795 |
Segment expenses (1) |  |  |  |  |  |  |  |  |
Sales and marketing expenses (2) | 149,197 |  |  | 15,814 |  |  | 74,270 |  |  | — |  |  | 239,281 |
Processing expenses (3) | 59,726 |  |  | 541,180 |  |  | 3,536 |  |  | — |  |  | 604,442 |
Transaction losses and fraud management (4) | 93,456 |  |  | 99,732 |  |  | 2,617 |  |  | — |  |  | 195,805 |
Customer support and related expenses (5) | 19,048 |  |  | 38,962 |  |  | 2,914 |  |  | — |  |  | 60,924 |
Compensation and benefits expenses (6) | — |  |  | — |  |  | — |  |  | 125,734 |  |  | 125,734 |
Other segment items (7) | — |  |  | — |  |  | 13,161 |  |  | 73,574 |  |  | 86,735 |
Total segment expenses | 321,427 |  |  | 695,688 |  |  | 96,498 |  |  | 199,308 |  |  | 1,312,921 |
Segment profit | $ | 177,190 |  |  | $ | 77,303 |  |  | $ | 113,176 |  |  | $ | (196,795) |  |  | $ | 170,874 |
| Year Ended December 31, 2022
| Consumer Services |  | B2B Services |  | Money Movement Services |  | Corporate and Other |  | Total
| (In thousands)
Total segment revenues | $ | 586,798 |  |  | $ | 594,468 |  |  | $ | 222,192 |  |  | $ | 20,151 |  |  | $ | 1,423,609 |
Segment expenses (1) |  |  |  |  |  |  |  |  |
Sales and marketing expenses (2) | 192,979 |  |  | 13,312 |  |  | 75,980 |  |  | — |  |  | 282,271 |
Processing expenses (3) | 69,706 |  |  | 377,433 |  |  | 3,672 |  |  | — |  |  | 450,811 |
Transaction losses and fraud management (4) | 82,799 |  |  | 88,339 |  |  | 3,014 |  |  | — |  |  | 174,152 |
Customer support and related expenses (5) | 19,166 |  |  | 29,012 |  |  | 4,665 |  |  | — |  |  | 52,843 |
Compensation and benefits expenses (6) | — |  |  | — |  |  | — |  |  | 135,823 |  |  | 135,823 |
Other segment items (7) | — |  |  | — |  |  | 17,031 |  |  | 71,924 |  |  | 88,955 |
Total segment expenses | 364,650 |  |  | 508,096 |  |  | 104,362 |  |  | 207,747 |  |  | 1,184,855 |
Segment profit | $ | 222,148 |  |  | $ | 86,372 |  |  | $ | 117,830 |  |  | $ | (187,596) |  |  | $ | 238,754 |
Note 24—Segment Information (continued)
(1) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) | Sales and marketing expenses consists primarily of the commissions we pay to our retail distributors, brokers and partners, advertising and marketing expenses, and the costs of manufacturing and distributing card packages, placards and promotional materials to our retail distributors and partners, and personalized debit cards who have activated their cards.
(3) | Processing expenses consist primarily of the fees charged to us by the payment networks, which processes transactions for us, any third-party card processors that maintain the records of our customers' accounts and process transaction authorizations and postings, and any third-party banks that issue or process our accounts.
(4) | Transaction losses and fraud management consist primarily of losses from customer disputed transactions, unrecovered customer purchase transaction overdraft and fraud, and other losses on portfolios in our Money Movement Services segment. Fraud management consists of third-party contractors and support costs to manage risk operations.
(5) | Customer support and related expenses consist of third-party contractors hired to conduct call center operations and handle routine customer service inquiries, and the related costs to support our call center operations.
(6) | Compensation and benefits expenses represent the compensation and related benefits, including travel and entertainment, that we provide to our employees and third-party contractors who provide consulting support within our IT operations.
(7) | Other segment items in Money Movement Services consists principally of inter-segment expenses for reload services on the Green Dot Network. Other segment items in Corporate and Other primarily consists of other unallocated corporate operating expenses, such as professional services fees, hosting and software licenses, telephone and communication costs, rent, utilities, and insurance, and elimination of inter-segment expenses.
The reconciliations of total segment revenues to total operating revenues are presented below:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Total segment revenues | $ | 1,707,715 |  |  | $ | 1,483,795 |  |  | $ | 1,423,609 |
BaaS commissions and processing expenses | 18,917 |  |  | 20,449 |  |  | 28,831 |
Other income | (2,756) |  |  | (2,916) |  |  | (2,874) |
Total operating revenues | $ | 1,723,876 |  |  | $ | 1,501,328 |  |  | $ | 1,449,566 |
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. The reconciliations of segment profit to income (loss) before incomes taxes are presented below:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (In thousands)
Total segment profit | $ | 165,386 |  |  | $ | 170,874 |  |  | $ | 238,754 |
Reconciliation to (loss) income before income taxes |  |  |  |  |
Depreciation and amortization of property, equipment and internal-use software | 63,422 |  |  | 58,715 |  |  | 57,101 |
Stock based compensation and related employer taxes | 30,353 |  |  | 34,288 |  |  | 35,414 |
Amortization of acquired intangible assets | 21,277 |  |  | 24,257 |  |  | 23,509 |
Impairment charges | 9,625 |  |  | — |  |  | 4,264 |
Legal settlement expenses | 33,791 |  |  | 23,614 |  |  | 16,021 |
Other expense | 8,586 |  |  | 7,330 |  |  | 8,070 |
Operating (loss) income | (1,668) |  |  | 22,670 |  |  | 94,375 |
Interest expense, net | 5,506 |  |  | 3,027 |  |  | 255 |
Other expense, net | (15,365) |  |  | (5,010) |  |  | (10,199) |
(Loss) income before income taxes | $ | (22,539) |  |  | $ | 14,633 |  |  | $ | 83,921 |

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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