Green Dot reported its earnings for its fourth quarter ending Dec. 31, 2019, with total operating revenues of $249.3 million, showing a slight uptick from $245.1 million in the 2018 quarter.

Stock for the company was up 3 percent Wednesday, and 3 percent more after hours, due to the results.

The company said its GAAP net income and GAAP diluted earnings were $1.7 million and $0.03, respectively.

The company also reported non-GAAP total operating revenues of $238.4 million, and EBITDA and non-GAAP diluted earnings per common share of $21.8 million and $0.14, respectively.

Non-GAAP values means those values not generally accepted in the U.S., such as non-operating nest income, income tax benefit and expense, and more. By excluding those values, Green Dot believes it can provide value to investors, regarding trends in the overall nature of finances and how its operation is going.

In looking ahead to 2020, Green Dot admitted that it sees “some seasonality” and that its first quarter is typically its highest performing and expects to post a 3 percent increase year over year by the year’s midpoint.

William Jacobs, chairman and interim CEO, said in a statement that since he took office, he had been impressed by the work at the company and looked forward to further work in the field of leading and transforming the financial industry in the future.

Green Dot is a U.S.-based financial technology and bank holding company that operates in the realm of “branchless” banking or using a bank without actually going to a particular financial institution. Its usage has been embraced by young people, as a survey Green Dot took part in found that many younger people would prefer not having to go to a bank to deal with their funds.

Branchless banking is also a boon for those who are of lower income and need the extra boost to deal with financial issues.

A study PYMNTS did with Green Dot found that the challenges Green Dot faces constitute how to bring banking services to customers, and not just offering those services, but layering on something better that can work for individuals in the long run.


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