Green Dot Corporation (NYSE:GDOT) Q1 2022 Earnings Conference Call May 5, 2022 6:00 PM ET
Company Participants
Tim Willi - Senior Vice President of Investor Relations & Corporate Development
Dan Henry - President & Chief Executive Officer
George Gresham - Chief Financial Officer & Chief Operating Officer
Conference Call Participants
Damian Wille - Barclays
Andrew Jeffrey - Truist Securities
George Sutton - Craig-Hallum Capital
Mike Grondahl - Northland Capital Markets
Andrew Schmidt - Citigroup Inc.
Operator
Good afternoon and welcome to the Green Dot Corp. First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note that this event is being recorded.
I would now like to turn the conference over to Tim Willi, Senior Vice President, Investor Relations and Corporate Development. Please go ahead.
Tim Willi
Thank you and good afternoon, everyone. Today, we are discussing Green Dot's first quarter 2022 financial and operating results. Following our remarks, we'll open the call for 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 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 Dan.
Dan Henry
Good afternoon, everyone and thanks for joining us to discuss our first quarter results.
Green Dot delivered a strong first quarter, highlighted by margin expansion across our businesses with non-GAAP revenue up 4% and adjusted EBITDA increasing 23% driven by 360 basis points of margin expansion. I could not be more proud of our team for delivering these results which George will cover in greater detail shortly. Before I turn it over to him, I'd like to share a few comments on our segments and key components of our strategic plan to unlock long-term shareholder value.