Green Dot 2010 Annual Report Download - page 45

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Year Ended
December 31,
2010
Five Months
Ended
December 31,
2009(1) 2009 2008 2007 2006
Year Ended July 31,
(Unaudited)
(In thousands, except per share data)
Diluted earnings (loss) per
common share:
Class A common stock . . . . $0.98 $ $— $ $— $ $— $ $— $ $—
Class B common stock . . . . $ 0.98 $ 0.29 $ 0.52 $ 0.26 $ (0.05) $ 0.01
Diluted weighted-average
common shares issued
and outstanding:
Class A common stock . . . . 27,782 — — — — —
Class B common stock . . . . 24,796 15,425 15,712 14,154 11,100 13,194
2010 2009 2009 2008 2007 2006
As of December 31, As of July 31,
(Unaudited)
(In thousands)
Consolidated Balance Sheet Data:
Cash, cash equivalents and
restricted cash(4) . . . . . . . . . . . . 172,638 71,684 41,931 41,613 14,991 16,670
Settlement assets(5) . . . . . . . . . . . . 19,968 42,569 35,570 17,445 15,412 12,868
Total assets . . . . . . . . . . . . . . . . . . 285,758 183,108 123,269 97,246 56,441 42,626
Settlement obligations(5) . . . . . . . . 19,968 42,569 35,570 17,445 12,916 8,933
Long-term debt . . . . . . . . . . . . . . . . — — — — 2,446 5,030
Total liabilities . . . . . . . . . . . . . . . . . 120,627 111,744 81,031 65,962 45,237 37,004
Redeemable convertible preferred
stock . . . . . . . . . . . . . . . . . . . . . . — — — 26,816 22,336 —
Total stockholders’ equity (deficit) . . 165,131 71,364 42,238 4,468 (11,130) 5,623
(1) In September 2009, we changed our fiscal year-end from July 31 to December 31.
(2) Represents the recorded fair value of the shares for which our right to repurchase lapsed during the
specified period pursuant to the terms of the agreement under which we issued 2,208,552 shares of
our Class A common stock to Walmart. See “Management’s Discussion and Analysis of Financial
Condition and Results of Operations — Overview — May 2010 Changes to Our Relationship with
Walmart” for more information. Prior to the three months ended June 30, 2010, we did not incur any
stock-based retailer incentive compensation.
(3) Includes stock-based compensation expense of $7.3 million for the year ended December 31, 2010,
$6.8 million for the five months ended December 31, 2009 and $2.5 million, $1.2 million, $156,000, and
$0 for fiscal 2009, 2008, 2007, and 2006, respectively.
(4) Includes $5.1 million, $15.4 million, $15.4 million, $2.3 million, $2.3 million and $2.0 million of restricted
cash as of December 31, 2010 and 2009 and July 31, 2009, 2008, 2007 and 2006, respectively.
(5) Our retail distributors collect customer funds for purchases of new cards and reloads and then remit
these funds directly to bank accounts established for the benefit of these customers by the banks that
issue our cards. Our retail distributors’ remittance of these funds takes an average of three business
days. Settlement assets represent the amounts due from our retail distributors for customer funds
collected at the point of sale that have not yet been remitted to the card issuing banks. Settlement
obligations represent the amounts that are due from us to the card issuing banks for funds collected but
not yet remitted by our retail distributors and not funded by our line of credit. We have no control over or
access to customer funds remitted by our retail distributors to the card issuing banks. Customer funds
therefore are not our assets, and we do not recognize them in our consolidated financial statements.
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