Dave Inc. (DAVE) Q4 2024 Earnings Call: Record Revenue and Strategic Partnerships Drive Growth

Dave Inc. (DAVE), a leading neobank, reported record revenue and strong profitability in the fourth quarter of 2024, driven by strategic partnerships and improved credit performance. The company's earnings call highlighted its continued growth and expansion in the neobanking sector.



Record Revenue and Profitability

Dave reported record revenue of $100.9 million in Q4 2024, a 38% increase year-over-year (YoY). Net income increased by $16.6 million YoY to $16.8 million, while adjusted EBITDA increased by 234% YoY to $33.4 million, significantly exceeding the high-end of guidance. (Source: dave inc. Q4 2024 Earnings Call)



Strategic Partnerships

Dave's strategic partnership with Coastal Community Bank (CCB) has been a significant driver of its growth and expansion. The partnership, announced in March 2025, has facilitated Dave's business growth and expansion, supporting its mission to provide accessible and transparent financial services to traditionally underbanked populations. (Source: dave and Coastal Community Bank Announce Strategic Partnership)



Improved Credit Performance and ExtraCash Originations

Dave's CashAI-powered underwriting continued to drive improvements in credit performance, with the average 28-Day delinquency rate improving by 53 basis points to 1.66% in Q4 2024. ExtraCash originations increased by 44% to $1.5 billion, supported by increased member growth and average origination per member. (Source: Dave Inc. Q4 2024 Earnings Call)

Member Growth and Engagement

Dave's new members increased by 12% to 766,000 in Q4 2024, while monthly transacting members (MTMs) increased by 17% to 2.5 million. Dave Debit Card spend increased by 24% to $457 million, reflecting higher member activity and transaction volumes. (Source: Dave Inc. Q4 2024 Earnings Call)

Future Outlook

Dave's strong performance in Q4 2024 sets the stage for continued growth and expansion in 2025. The company has established a strong 2025 revenue and adjusted EBITDA outlook, with guidance for GAAP operating revenues, net, to be between $415 million and $435 million, representing a 20% to 25% YoY growth. Adjusted EBITDA is expected to be between $110 million and $120 million. (Source: Dave Inc. Q4 2024 Earnings Call)

In conclusion, Dave Inc. (DAVE) reported record revenue and strong profitability in the fourth quarter of 2024, driven by strategic partnerships and improved credit performance. The company's continued growth and expansion in the neobanking sector position it well for future success.