Green Dot Corporation

Good day and welcome to the Green Dot Corp third quarter 2025 conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists 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 touch-tone phone. And 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 Timothy Willey of Investor Relations. Please go ahead.

Thank you, and good afternoon, everyone. Today, we are discussing Green Dot's third 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'll turn it over to Bill. Bill?

Good afternoon. And thank you for joining our third 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 and observations before taking your questions. First, regarding the strategic review, we continue to make progress and we will provide updates when appropriate. Now, let's turn to the quarter. It was a strong third quarter, with results continuing to outpace our expectations. Adjusted revenue was up 21%, and while adjusted EBITDA declined 17%, And while a decline was expected, our EBITDA in the quarter was substantially better than our internal projections. Jess will provide more detail on our financial results shortly. The team remains 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 position the company for sustainable long-term growth. As part of these efforts, we moved to cease operations in Shanghai in support of our business needs and growth strategy, including our goals to optimize our platforms and processes and reduce operational and geopolitical risks. We are pleased with the progress we've made on these initiatives thus far and with the transition our teams have delivered on behalf of our partners and customers. We are seeing continued momentum and increasing demand in embedded finance, including the broad range of banking as a service and money processing tools and features offered from our end-to-end configurable embedded finance platform, ARK. During the quarter, we announced the launch of Crypto.com's Cash Earned Products feature and launched real-time payments with Dayforce, and announced a new partnership with Stripe, as well as new signings with Workday for EWA and Amscot in the FSC channel. We are preparing for product launches with Dolphin Tech, Credit Sesame, and other partners across the franchise, and we continued building a strong, healthy pipeline to fuel future growth. On our last call, I discussed our focus on the importance of improving the profitability of our balance sheet. We are making progress in those efforts with a growing list of customers, particularly on our ARC platform. We view balance sheet growth, not just transactions and account growth, as another growth driver in the company. The balance sheet is an important component of our growth, and earnings story, and we intend to continue to invest in our ability to manage that growth and improve its profitability. Now let me turn it over to Chris to provide an update on our business development and our go-to-market efforts.