Green Dot Corporation (NYSE:GDOT) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET

Company Participants

Tim Willi - Investor Relations

George Gresham - President and Chief Executive Officer

Jess Unruh - Chief Financial Officer

Conference Call Participants

George Sutton - Craig-Hallum

Operator

Good afternoon and welcome to the Green Dot Corp Fourth Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Tim Willi, Senior Vice President of Investor Relations and Corporate Development. Please go ahead.

Tim Willi

Thank you and good afternoon everyone. Today, we are discussing Green Dot’s fourth quarter 2022 financial and operating results. Following our remarks, we will 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 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 forward-looking statements.

During the call, we will make reference 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 maybe 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 would like to turn the call over to George.

George Gresham

Good afternoon, everyone and thank you for joining our fourth quarter and full year 2022 earnings call. Today, we will cover the following topics. We will review our fourth quarter and full year earnings along with our accomplishments for 2022. I will provide a preview of our 2023 guidance and priorities for the coming year. Jess will provide you more detailed 2022 results and 2023 guidance. And I will share some closing comments before opening it up to your questions.

Let’s jump in. Our fourth quarter financial results came in at or above the high-end of our guidance range. Non-GAAP revenue of $337 million was up 5% year-over-year, EBITDA margins were 10.5% and non-GAAP EPS of $0.34 per share was up 26%. For the full year, we finished with non-GAAP revenue of $1.43 billion, up 3% year-over-year, EBITDA margins of 17%, non-GAAP EPS of $2.59 per share, up 17%, and free cash flow of $193 million.