Dave shares surge 11.50% premarket on preliminary 2025 results exceeding revenue, EBITDA guidance and improved 28DPD rates.

Dave Inc. surged 11.50% in premarket trading following the release of preliminary fourth-quarter and full-year 2025 financial results, which showed revenue and Adjusted EBITDA exceeding guidance. The company reported 4Q25 net operating revenues of $164 million and Adjusted EBITDA of $73 million, outperforming midpoints of prior guidance. Full-year 2025 results are projected at $554 million in revenue and $227 million in Adjusted EBITDA, representing 60% and 162% year-over-year growth, respectively. Additionally, the 28-day past-due (28DPD) rate for 4Q25 is expected to be 1.95%-2.00%, improving from a prior expectation of below 2.10%, signaling stronger credit performance. CEO Jason Wilk highlighted record revenue growth, operating leverage, and the potential tailwind from a proposed credit card rate cap, which could shift demand to Dave’s fee-free products like ExtraCash. These results and forward-looking optimism about market positioning drove the sharp premarket rally.