Green Dot Corporation

Good day and welcome to the Green Dot Corporation first quarter 2020 earnings call. Today's conference is being recorded. And at this time, I'd like to turn the conference over to Ms. Michelle Blaya. Please go ahead.

Thank you and good afternoon, everyone. On today's call, we'll discuss Green Dot's first quarter 2020 performance. Following the remarks, we'll open the call for questions. For those of you who haven't accessed our earnings release that accompanies this call and webcast, it can be found at ir.green.com. As a reminder, our comments include board booking statements and our expectations regarding future results and performance. Please refer to the cautionary language in the earnings release and in Green Dot's filings with the Securities and Exchange Commission, including our most recent form, 10-K and 10-Q, for additional information concerning factors that could cause actual results to differ materially from the board booking statements. During the call, we'll make reference to our financial measures that do not conform to generally accepted accounting principles. For the sake of clarity and less otherwise noted, all numbers we talk about today will be on the non-GAAP basis. Information may be calculated differently than similar non-GAAP data presented by other companies. Quantitative reconciliation of our non-GAAP financial information to the directly comparable GAAP financial information appears in today's press release. The content of this call is property of the Green Dot Corporation and is subject to copyright protection. Now I'd like to turn the call over to Dan.

Thank you, Michelle. And welcome, everyone, to the Green Dot Corporation Q1 2020 earnings call. Today we will discuss Q1 results and the impact of COVID-19 and share some of my early thoughts around the areas of focus for Green Dot going forward. Before we jump in, I would like to first thank the board of directors for providing me this opportunity and responsibility to take the lead here at Green Dot. A particular amount of gratitude and appreciation is owed to Bill Jacobs and Chris Brewster, who provided day-to-day leadership on an interim basis prior to my arrival. We are all very thankful for their continued leadership. The real shout-out, however, goes to the entire team at Green Dot. During the interim period, the company executed the busiest quarter of the year, tax season, without a hitch, delivering results well in excess of plan. But the true heroics of the team really began on February 3rd when 300 of our developers in Shanghai found themselves having to shift quickly to a remote work environment amidst the height of COVID-19 in China. Then, on March 16th, all call centers in the Philippines and India were closed due to COVID-19, which took our global call center staffing in 1,900 to 500 in just one day. Facing directly into the challenge, the customer service and IT infrastructure teams scrambled to bring online work-from-home capabilities for our call center representatives across the globe so that we could continue to serve customers during this critical time. Then, Work-from-home directives hit here in the U.S. a few weeks later. And again, the team adapted to complete remote working arrangements while continuing to serve our customers and partners. And if that wasn't enough, in April, our systems and people were tested once again when the first wave of relief funds from the CARES Act flooded customers' accounts through direct deposit, creating almost the equivalent of a full tax season of refund loads in a single day. Yes, these have been unprecedented times, and they have tested all of us in ways no one could have imagined. I'm proud of the team's unwavering dedication to our customers and each other throughout these turbulent conditions, and I'm excited to be on board as one of the newest members of the Green Dot team. I'll now hand the call off to Jess Unruh, who will report on the company's Q1 results and comment on guidance for the remainder of 2020. After which, I will wrap up with some of my initial observations of the company and some current thoughts around our areas of focus and go-forward strategy. Jess, over to you.