Proprietary Report with Analysis on Green Dot Payments-Related Performance.
CA-based prepaid card specialist Green Dot reported flat revenues and a weak profit for the first quarter (1Q/16). However, 1Q/16 was the first quarterly sequential growth in active cards in a year. Additionally, gross dollar volume (GDV) was up year-on-year (YOY) and purchase dollar volume was steady YOY for 1Q/16. Gross revenues for the first quarter were flat (+0.4% YOY) at $228.0 million, compared to $150.9 million for the prior quarter, and $227.2 million for the year ago quarter.