Dave

Dave is engaged in offering banking app that offers its customers banking, financial insights, overdraft protection, building credit, and finding side gigs.

Earnings data Q4 2021

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Earnings data Q4 2024

Dave reports strong Q4 growth, eyes profitability and market expansion

Dave's Q4 2022 results reflect robust growth in revenue, membership base, and financial efficiency, positioning the company for continued success.
While challenges like managing costs and reducing losses persist, Dave's strategic focus on growth and profitability sets a positive trajectory for 2023.
Opportunities in customer acquisition, revenue diversification, and operational improvements provide avenues for sustained growth and value creation.
Overall, Dave's performance, strengths, and outlook signal a promising future with a clear path towards achieving its financial targets and enhancing shareholder returns.

Dave (DAVE) reports robust Q1 performance and optimistic 2023 outlook

Dave's Q1 2023 performance reflects strong revenue growth, improved financial metrics, and a positive outlook for the year ahead.
The company's focus on member acquisition, engagement, and cost management highlights its strategic approach to sustainable growth.
While challenges in achieving profitability persist, Dave's opportunities lie in leveraging its strengths to drive further revenue growth and market expansion.

Dave reports stellar Q2 results, eyes growth through strategic initiatives

Dave's Q2 2023 performance showcased impressive revenue growth, efficient member acquisition, and strong financial metrics, underlining its position in the financial services sector.
Strategic initiatives like the Dave Debit Card and the addition of Imran Khan as a stakeholder signal a focused approach towards enhancing customer relationships and industry expertise.
While challenges in sustaining growth and managing expenses exist, Dave's solid financial foundation and growth opportunities position it favorably for future success.

Dave (DAVE) reports robust Q3 performance and eyes profitability

Dave's Q3 performance showcased strong growth in revenue, member base, and operational efficiency, setting the stage for future profitability.
The company's strategic initiatives and improved financial metrics demonstrate a positive outlook for sustained growth and value creation.
While challenges remain in achieving profitability, Dave's focus on cost optimization and revenue enhancement positions it well for future success.

Dave reports record Q4 performance, eyes growth through member relationships

Dave's Q4 2023 earnings call highlighted exceptional financial performance, marked by record EBITDA and positive net income. Strategic investments in digital services and strong member acquisition underscore the company's growth potential. While challenges in sustaining growth exist, opportunities to deepen member relationships and drive profitability are key focus areas for Dave.

Dave reports robust Q1 earnings, eyes disciplined growth strategy

Dave's Q1 2024 performance was marked by strong revenue growth, improved credit metrics, and enhanced member engagement through innovative AI solutions. The company aims to navigate the challenge of scaling marketing spend while ensuring profitability, leveraging opportunities in its product offerings for continued growth.

Dave reports stellar Q2 results, eyes marketing expansion for growth

Dave's Q2 2024 earnings call reflects robust financial performance, strategic marketing optimization, and a focus on enhancing customer engagement. While facing challenges in member acquisitions and marketing spend, Dave is well-positioned to leverage opportunities for sustained growth and success.

Dave reports record Q3 revenue and EBITDA growth, eyes strategic partnerships

Dave's Q3 performance reflects robust growth in revenue and EBITDA, driven by strong ExtraCash originations and improved underwriting. While facing legal challenges, the company remains confident in its financial outlook and strategic partnerships. Dave aims to capitalize on opportunities by enhancing its product offerings and member engagement.

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Dave, Inc. is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health. The company was founded by Jason Wilk, Paras Chitrakar, and John Wolanin in October 2015 and is headquartered in Los Angeles, CA.

Record Q1 Revenue of $73.6 Million; Y/Y Revenue Growth Accelerates  for Second Consecutive Quarter Q1 GAAP Net Income Reaches $34.2 Million and Adj. EBITDA Increases to $13.2 Million Dave Raises 2024 Adjusted EBITDA Guidance to $30-$40 Million LOS ANGELES, May 07, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, today reported its financial results for the first quarter ended March 31, 2024.

Dave Reports Record First Quarter 2024 Results

I'm impressed by Dave's financial performance, showcasing a clear dedication to profitability and operational efficiency. The balance sheet is no longer a concern. There are enough positives to drive the share price higher than $24 per share. Despite strong performance, investors are not fully pricing in Dave's prospects. Stock still priced at less than 7x forward EBITDA.

Dave: This Move Higher Is Not Done

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These 3 Small-Cap Stocks Are Up 304% in 2024. Can They Run Higher?

LOS ANGELES, April 19, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, will host a conference call on Tuesday, May 7, 2024 at 8:30 a.m. Eastern time to discuss its financial results for the first quarter ended March 31, 2024. The Company's results will be reported in a press release prior to the call.

Dave to Report First Quarter 2024 Results on May 7, 2024 at 8:30 a.m. ET

INCLINE VILLAGE, Nev. , April 18, 2024 /PRNewswire/ --  Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, today launched its next generation Document Verification (DocV) solution, purpose-built to tackle the rash of stolen identities, spoofing, and highly sophisticated deepfake attacks that are accelerating in their complexity across nearly every segment of the digital economy.

Socure Releases Multi-Layered AI Defense System That Defeats Deepfakes and Other Identity Fraud in Under Two Seconds

LOS ANGELES, March 21, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, today announced that the Company will participate in the upcoming virtual FT Partners Equity Research Weekly Forum being held on Friday, March 22, 2024.

Dave to Participate in the FT Partners Equity Research Weekly Forum on March 22nd

Dave Inc. (NASDAQ:DAVE ) Q4 2023 Earnings Conference Call March 5, 2024 8:30 AM ET Company Participants Jason Wilk - CEO Kyle Beilman - CFO Conference Call Participants Operator Good morning, everyone, and thank you for participating in today's Conference Call to discuss Dave's Financial Results for the Fourth Quarter and Full Year ended at December 31, 2023. Joining us today are Dave's CEO, Mr.

Dave Inc. (DAVE) Q4 2023 Earnings Call Transcript

Revenue growth accelerates in Q4 to drive record Total Revenue Achieves Profitability with Q4 GAAP Net Income of $0.2 Million and Q4 Adjusted EBITDA of $10.0 Million Results outperform guidance across all metrics

Dave Reports Record Fourth Quarter and Full Year 2023 Results; Reaches Significant Quarterly Profitability Milestone

Encouragingly, Dave is poised to achieve breakeven in Q4 2023, a testament to its effective strategies and operational success. However, concerns arise regarding Dave's balance sheet, with a drawn credit facility and convertible notes signaling a need for careful liquidity management in the near term. Despite these challenges, the market's undervaluation of Dave, trading at less than 1x sales, suggests potential for substantial growth in the coming year.

Dave: Ready To Move Higher In 2024

LOS ANGELES, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, today announced that the Company will participate in the upcoming Citizens JMP Technology Conference at The Ritz-Carlton in San Francisco, CA on March 5, 2024.

Dave to Participate in a Fireside Chat at the Citizens JMP Technology Conference on March 5ᵗʰ in San Francisco

LOS ANGELES, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, will host a conference call on Tuesday, March 5, 2024 at 8:30 a.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2023. The Company's results will be reported in a press release prior to the call.

Dave to Report Fourth Quarter and Full Year 2023 Results on March 5, 2024 at 8:30 a.m. ET

LOS ANGELES, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, today announced that the Company will participate in the upcoming Wolfe Fintech Forum being held March 13-14, 2024 at the Lotte New York Palace Hotel.

Dave to Participate at the Wolfe Fintech Forum on March 14

LOS ANGELES , Feb. 13, 2024 /PRNewswire/ -- Dave Inc. (Nasdaq: DAVE), one of the nation's leading neobanks, today announced it has become the newest member of the American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks. Dave joins a diverse group of AFC members to progress fintech innovation, focusing on creating inclusive digital banking services and products for consumers not well-served by incumbent banks.

Neobank Dave Joins the American Fintech Council to Create Financial Inclusivity in Digital Banking

Dave has reversed its previously ailing stock price on the back of strong growth in new members and rising ExtraCash originations. The neobank is currently trading for a 0.97x multiple to sales as it targets near-term profitability. Total members sits at just under 10 million as its delinquency rate continues to dip.

Dave: Do Not Short The Blistering Rally Of This Neobank

Note Repurchase at a $35 Million Discount Relative to $105.5 Million Total Liability Transaction Capitalizes on Strength of Balance Sheet and Enhances Ability to Deliver on Strategic Objectives LOS ANGELES , Jan. 30, 2024 /PRNewswire/ -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today announced the closing of its transaction with FTX Ventures Ltd. ("FTX") to repurchase a convertible note (the "Note") that it issued to FTX with an original principal balance of $100 million, for a discounted purchase price of $71 million.

Dave's Repurchase of FTX Convertible Note for $71 Million Finalized

Resolution rate increased to 89% with mobile app GPT experiences PALO ALTO, Calif. , Jan. 16, 2024 /PRNewswire/ -- Aisera , a pioneer of Generative AI solutions for the enterprise, today announced that Dave Inc.  (Nasdaq: DAVE), one of the nation's leading neobanks, has leveraged Aisera's technology to create DaveGPT – a generative AI assistant that offers self-service customer inquiry resolution.

Aisera & Dave Launch DaveGPT, a Generative AI Customer Service Assistant to Enable Personalized On-Demand Support

LOS ANGELES , Jan. 5, 2024 /PRNewswire/ -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today announced it has reached an agreement with FTX Ventures Ltd. ("FTX") to purchase a convertible promissory note that it previously issued to FTX in the original principal amount of $100 million, for a discounted purchase price of $71 million.

Dave Announces Repurchase of $100 million Convertible Note from FTX for $71 million

Dave Inc. (NASDAQ:DAVE ) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET Company Participants Jason Wilk - CEO Kyle Beilman - CFO Conference Call Participants Gary Prestopino - Barrington Research Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Dave's financial results for the third quarter ended September 30, 2023. Joining us today are Dave's CEO, Mr.

Dave Inc. (DAVE) Q3 2023 Earnings Call Transcript

LOS ANGELES, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, will host a conference call on Tuesday, November 7, 2023 at 4:30 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2023. The Company's results will be reported in a press release prior to the call.

Dave to Report Third Quarter 2023 Results on November 7, 2023 at 4:30 p.m. ET

LOS ANGELES, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, has amended its existing Delayed Draw Senior Secured Loan Facility (the “Credit Facility”) with Victory Park Capital Advisors, LLC (“VPC”), effective September 13, 2023.

Dave Amends Credit Facility to Increase Capacity and Advance Rate, Reduce Cost of Funds, and Extend Maturity

LOS ANGELES , Sept. 7, 2023 /PRNewswire/ -- Dave Inc. (Nasdaq: DAVE), one of the nation's leading neobanks, today announced that John Ricci, General Counsel, will retire on September 29, 2023.

Dave Announces John Ricci's Retirement, Names Joan Aristei as Successor and Chief Legal Officer

LOS ANGELES, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation's leading neobanks, today announced its management team will participate in the upcoming H.C. Wainwright Global Investment Conference being held September 11-13, 2023 at the Lotte New York Palace Hotel.

Dave to Participate at the H.C. Wainwright Global Investment Conference on September 12

Dave Inc. (NASDAQ:DAVE ) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET Company Participants Jason Wilk - Chief Executive Officer Kyle Beilman - Chief Financial Officer Conference Call Participants Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Dave's financial results for the Second Quarter ended June 30, 2023. Joining us today are Dave's CEO, Mr.

Dave Inc. (DAVE) Q2 2023 Earnings Call Transcript

Former Snap Inc. Chief Strategy Officer to Join Dave's Board of Directors LOS ANGELES , Aug. 8, 2023 /PRNewswire/ -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, announced today that Imran Khan, the renowned technology executive and entrepreneur, through investment funds in which he manages, has acquired 2.5% of Dave's Class A Common stock, through a secondary sale. In addition, Khan will join Dave's Board of Directors, effective immediately.

Entities Managed by Imran Khan to Acquire 2.5% Stake in Dave via Secondary Market Transaction

Q2 GAAP Revenue up 34% Year Over Year to $61.2 Million; Q2 Non-GAAP Variable Profit up 78% Q2 Net Loss Improves by 17% Year Over Year; Adj. EBITDA Loss Improves 54% to $13.1 Million Raising Non-GAAP Variable Profit Margin Outlook to 47% - 51%; Reiterating 2023 Non-GAAP Operating Revenue and Adjusted EBITDA Guidance

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