Green Dot Corporation

Good afternoon and welcome to the Green Dot Corporation second quarter 2025 conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to turn the conference over to Tim Willey, Senior Vice President, Finance and Corporate Development. Please go ahead.

Thank you, and good afternoon, everyone. Today, we are discussing Green Dot's second quarter 2025 financial and operating results. Following our remarks, we'll open the call for your questions. Our most recent earnings release that accompanies this call and webcast can be found at ir.greendot.com. As a reminder, our comments may include forward-looking statements and expectations regarding future results and performance. Please refer to the cautionary language in the earnings release and 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 forward-looking statements. During the call, we will refer to our financial measures that do not conform with generally accepted accounting principles. For the sake of clarity, unless otherwise noted, all numbers we talk about today will be on a 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 Bill.

Good afternoon, and thank you for joining our second quarter 2025 earnings call. Today, I will start with some comments on the quarter. and then turn it over to Chris for an update on our business development and go-to-market efforts. Jess will then discuss our financials in more detail, and I will conclude with some final comments, observations, before taking your questions. Now, let's turn to the quarter. It was a strong second quarter, with results continuing to outpace our expectations. Adjusted revenue was up 24%, and adjusted EBITDA was up 34%, both ahead of plan, which Jess will provide more detail on shortly. The team remained focused on strengthening our revenue engine by signing and launching new partners in the quarter, driving scale and savings in our operations and investing in our infrastructure to support customers and partners while ensuring that we can manage sustainable long-term growth across the enterprise. Our embedded finance platform, ARK, is seeing continued momentum and increasing demand. During the quarter, we launched new products, including Samsung's tap-to-transfer feature, which has generated impressive engagement to date. We made progress preparing to launch other new partners like Crypto.com, Dolphin Tech, and more. we continued building a strong and healthy pipeline to fuel future scalable growth. I am also pleased to touch on the improvements we're making to transform our bank and balance sheet into profit generators. We repositioned a portion of the balance sheet earlier this year and intend to make additional changes in the coming months to further improve yields and overall profitability. To expand on this a little further, Over the last few years, our balance sheet strategy was focused mostly on managing risk and liquidity as we work to improve our operating infrastructure and areas like compliance and risk management, areas critical to the stability and success of our business. We are pleased to report we are making progress addressing operational challenges and vastly improving our risk and compliance functions. Without losing sight of these needs, we have also been able to turn attention towards optimizing the profitability of our balance sheet while maintaining a conservative risk profile. Given the growth we are planning for in embedded finance, we expect to generate deposit growth and make those deposits work for us as a sign New partners were putting greater emphasis on structuring partnership to prioritize and maximize the returns we earn from our balance sheet, not just the traditional fee revenue that we have historically focused on. Over the last couple of years, we have talked about our investments in compliance and risk as areas of competitive advantage, which we still believe to be true, just as important That competitive advantage will not only generate new partners, but also balance sheet growth. With a focus on improved profitability of the balance sheet, I am confident we will earn an attractive return on the investments we made over the last several years. Now, let me turn it over to Chris to provide an update on our business development and our go-to-market efforts.