Green Dot reported higher revenue and adjusted EBITDA for the third quarter of 2026, while its GAAP net loss narrowed from a year earlier. The results arrive as the company prepares for a proposed acquisition by Smith Ventures and CommerceOne, though the earnings announcement provides no transaction terms or closing timetable.
Revenue growth was strong, but profitability measures were mixed: adjusted EBITDA rose while its margin declined, and non-GAAP net income and earnings per share were lower than a year ago.
Key details
- Revenue increased 21% to $601.1 million in the quarter ended September 30, up from $494.8 million a year earlier. On Green Dot’s non-GAAP measure, revenue was $596.4 million, also up 21%.
- The GAAP net loss narrowed to $7.4 million, or 13 cents per diluted share, from a loss of $30.8 million, or 56 cents per share, in the third quarter of 2025.
- Adjusted EBITDA rose 9% to $25.8 million from $23.6 million. However, adjusted EBITDA margin fell to 4.3% of non-GAAP revenue from 4.8%.
- Non-GAAP net income slipped 12% to $3.1 million, and non-GAAP diluted earnings per share fell to 5 cents from 6 cents.
- For the first nine months of 2026, revenue was $1.85 billion, up 19%. Adjusted EBITDA increased 6% to $168.4 million, but its margin declined to 9.2% from 10.3%.
- Nine-month GAAP results improved to net income of $44.3 million, or 76 cents per diluted share, compared with a net loss of $52.0 million, or 95 cents per share, in the same period last year. Non-GAAP net income was nearly flat at $83.0 million, while non-GAAP diluted earnings per share declined to $1.43 from $1.49.
- Green Dot had approximately $38 million in cash at the holding company at quarter-end.
The results show higher revenue and improved year-to-date GAAP earnings, alongside lower adjusted EBITDA margins and weaker non-GAAP earnings per share. The acquisition is mentioned as the company’s next chapter, but the announcement does not provide information about its financial terms or expected timing.