What is the revenue and EPS growth rate for Dave year over year?

What is Dave's gross profit margin?

What is Dave's latest dividend and current dividend yield?

What guidance did Dave's management provide for the next earnings period?

What were the key takeaways from Dave's earnings call?

Did Dave beat or miss consensus estimates last quarter?

What factors drove the changes in Dave's revenue and profit?

What does Dave do and what are its main business segments?

- **Record Growth**: 60% revenue increase to $554M, 162% EBITDA growth to $227M, driven by MTM expansion and ARPU rise.
- **Credit Excellence**: 1.89% Q4 DPD rate, 74% gross margin, and 4-month gross profit payback period.
- **2026 Outlook**: $690-710M revenue (25-28% growth), $14-15 EPS, and $300M share buyback.
- **Strategic Innovations**: Pay-in-4 testing, Coastal Community Bank liquidity unlock, and AI-driven credit model upgrades.

**【CEO Summary Section】**
- **Record 2025 Performance**: Revenue grew 60% to $554M, adjusted EBITDA reached $227M (41% margin), outperforming original guidance by $129M in revenue and $112M in EBITDA. Flow-through rate was 86%.
- **Growth Algorithm**: Mid-teens MTM growth (867K Q4 additions) and low double-digit ARPU growth (36% YoY). Gross profit payback period improved to under 4 months.
- **Credit Performance**: Q4 28-day DPD rate improved 12% to 1.89%, driven by CashAI v5.5. Gross margin expanded 300bps YoY to 74%.
- **Strategic Initiatives**: Pay-in-4 product in testing, Coastal Community Bank off-balance-sheet funding transition, and $300M share repurchase authorization.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Revenue $16.7M (62% YoY), adjusted EBITDA $72.3M (118% YoY). Gross profit $121.9M (68% YoY), margin 74%.
- **2026 Outlook**: Revenue $690-710M (25-28% growth), adjusted EBITDA $290-305M, adjusted EPS $14-15.
- **Funding Update**: Coastal transition to begin Q2, unlocking $200M+ liquidity. New funding costs will reduce gross profit but improve EBITDA.
- **Cost Efficiency**: Fixed expenses as % of revenue 19%, down 800bps YoY. GAAP net income $66M (4x YoY).

**【Q&A Key Highlights】**
- **Credit Model Evolution**: Testing CashAI v6.0, with v5.5 improving origination size and delinquency rates. Book turnover every 8-10 days enables rapid testing.
- **Dave Card Adoption**: 30% of ExtraCash spend on Dave Card. Subscription pricing at $3 for new users, no immediate changes for grandfathered $1/month members.
- **Pay-in-4 Strategy**: Testing with employees, expects minimal 2026 revenue. Focus on unit economics before scaling.
- **Balance Sheet Impact**: Off-balance-sheet structure for ExtraCash and BNPL receivables, reducing cost of capital.
- **Tax Refund Season**: Q1 2026 refunds 10% higher YoY, no material impact on ExtraCash demand.


Dave Inc. (DAVE) Q4 2025 Earnings Call Transcript

- **Revenue Surge**: 63% YoY growth to $150.8 million, driven by 49% ExtraCash originations and 57% subscription revenue growth.
- **Credit Excellence**: 28-day DPD improved to 2.04% in September, with net monetization rates up 45 basis points YoY.
- **AI-Driven Efficiency**: CashAI v5.5 reduced payback period to under 4 months, with 200+ new features enhancing approval limits and credit outcomes.
- **Balance Sheet Optimization**: Transition to Coastal Community Bank to reduce funding costs and unlock liquidity for growth initiatives.
- **New Product Momentum**: BNPL in beta testing, targeting Q1 2026 launch, with 60% of members already using BNPL services.

**【CEO Summary Section】**
- **Record Growth**: Q3 revenue rose 63% YoY to $150.8 million, with 17% growth in monthly transacting members (MTMs) to 2.77 million. ARPU increased nearly 40%, and adjusted EBITDA reached $58.7 million.
- **Strategic Pillars**: 
  1. **Efficient Acquisition**: CAC per new MTM remained stable at $19, with improved conversion rates driven by CashAI v5.5, reducing gross profit payback period to under 4 months.
  2. **Credit Expansion**: ExtraCash originations grew 49% YoY to $2 billion, with average origination size rising to $213 in September. New pricing model increased net monetization rates by 45 basis points.
  3. **Subscription Monetization**: Dave Card subscription revenue grew 57% YoY, with $3/month fee for new members contributing to margins.
- **AI Innovation**: CashAI v5.5, with 200+ new features, improved credit outcomes, reducing 28-day delinquency rate to 2.19% in September.

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net income was $92 million (up $91.5 million YoY), with adjusted EBITDA at $58.7 million (137% YoY growth). Non-GAAP gross margin was 69%.
- **Cost Efficiency**: Compensation expenses declined 18% YoY due to lower stock-based compensation. Operating expenses rose 5% YoY, excluding a $4.5 million legal charge.
- **Credit Performance**: Provision expense as a percentage of originations is expected to improve in Q4, with Q3 ending on a high receivables day, adding $2 million to the provision.
- **Balance Sheet Transition**: Transitioning to Coastal Community Bank for off-balance-sheet funding by early 2026, reducing direct funding obligations.

**【Q&A Key Highlights】**
- **Delinquency Trends**: 28-day DPD improved to 2.15% in Q3, with CashAI v5.5 driving further reductions to 2.04% in September. Credit performance metrics are stable despite higher loss rates due to higher gross spreads.
- **Customer Acquisition**: CAC expected to remain stable in Q4, with media spend optimized for peak season. MTM growth acceleration reflects improved CashAI conversion rates.
- **New Products**: BNPL in beta testing with employees, targeting Q1 2026 launch. 60% of current members use BNPL, creating opportunity for Dave to capture share with cash flow-driven underwriting.
- **Card Adoption**: Dave Card spend grew 25% YoY to $510 million, with 30% of ExtraCash originations routed through the card, enhancing retention and lifetime value.

Dave Inc. (DAVE) Q3 2025 Earnings Call Transcript

- **Revenue Growth Accelerates**: Q2 revenue up 64% YoY to $131.7M, driven by 42% ARPU growth and 16% MTM expansion.
- **Profitability Soars**: Adjusted EBITDA tripled YoY to $50.9M, with gross margin expanding to 70%.
- **Subscription Fee Success**: $3/month fee rollout achieved 4-month LTV payback with no retention impact.
- **Capital Efficiency**: Coastal partnership reduces cost of capital by 200bps, freeing >$100M for growth initiatives.
- **AI Model Upgrade**: CashAI v5.5 expected to boost origination sizes while maintaining credit quality.

**【CEO Summary Section】**
- Q2 revenue accelerated 64% YoY to $131.7M, driven by 16% increase in monthly transacting members (MTMs) and 42% ARPU growth. Adjusted EBITDA tripled YoY to $50.9M, the largest absolute gain in company history.
- Added 722,000 new members, bringing total to 12.9M (14% YoY growth). Payback period on CAC improved to 4 months (from 5 months mid-2024).
- ExtraCash originations reached $1.8B (51% YoY), with average size increasing 24% YoY to $206. Monthly transacting members grew 16% YoY to 2.6M.
- Rolled out $3/month subscription fee for new members, with minimal impact on conversion/retention. Grandfathered existing members at $1/month.
- 28-day delinquency rate increased 37bps YoY due to third-party settlement delay, but improved model (CashAI v5.5) expected to mitigate risk.
- Strategic partnership with Coastal Community Bank to transition $225M in ExtraCash receivables off-balance sheet, reducing cost of capital.

**【CFO Financial Commentary】**
- Non-GAAP gross profit grew 78% YoY to $92M, with gross margin expanding 500bps to 70%. Operating expenses (excluding marketing) grew 3% YoY, reflecting cost efficiency.
- Marketing spend increased 20% YoY to $15.5M, with plans to continue scaling investment. Compensation expense as % of revenue declined to 20% (from 30% YoY).
- Balance sheet cash increased $15M to $104.7M, offset by $43.4M growth in ExtraCash receivables. Free cash flow generation supported 2025E EBITDA guidance of $180-190M.
- Raised full year 2025E guidance to $505-515M revenue (prev $460-475M) and $180-190M EBITDA (prev $155-165M), implying 47% revenue growth and 114% EBITDA growth.

**【Q&A Highlights】**
- **Subscription Fee Impact**: $3/month fee rollout had no negative impact on conversion/retention, with LTV payback in 4 months. Testing promotional levers tied to subscription fee.
- **Coastal Partnership**: New funding arrangement reduces cost of capital by 200bps vs. prior warehouse line. Expected to free up >$100M in liquidity for M&A and share buybacks.
- **AI Model Performance**: CashAI v5.5 trained on twice as many features, expected to improve risk segmentation and drive higher origination sizes while maintaining delinquency rates within guardrails.
- **Data Costs**: Optimistic about industry pushback against JPMorgan data fees. Even if costs rise, scale and pricing power would minimize impact.
- **M&A Strategy**: Priorities include expanding distribution channels and enhancing ARPU through complementary products/services.

Dave Inc. (DAVE) Q2 2025 Earnings Call Transcript

- **Revenue & Profit Records**: Q1 revenue ($108M) and EBITDA ($44.2M) hit all-time highs, up 47% and 235% YoY.
- **Fee Model Success**: New 5% ExtraCash fee drove 46% origination growth, with Q2+ full model benefit.
- **Credit Strength**: 1.5% delinquency rate (vs. 1.83% prior year), 0.69% provision/origination ratio.
- **Guidance Uptick**: 2025 targets +33-37% revenue growth, +79-91% EBITDA expansion.
- **Capital Allocation**: $50M share buyback program active, with Q1 execution of $7M.

**【CEO Opening Remarks】**
- Q1 2025 revenue reached $108 million, up 47% YoY, driven by 13% MTM growth and 29% ARPU expansion.
- Adjusted EBITDA surged 235% to $44.2 million, the largest dollar increase in company history.
- New ExtraCash fee structure (5% flat fee) outperformed expectations, with 60% of Q1 originations on the new model.
- Full-year 2025 guidance raised to $460-475 million revenue and $155-165 million adjusted EBITDA.

**【CFO Financial Breakdown】**
- Non-GAAP variable profit climbed 67% YoY to $83.4 million, with margin improving 950bps to 77%.
- Provision for credit losses as a % of originations fell to 0.69% (vs. 0.94% prior year), driven by Cash AI's 136M+ transaction dataset.
- Operating expenses controlled, with processing costs down 8% YoY and marketing CAC optimized for LTV returns.
- Free cash flow conversion >90%, enabling $7M share buybacks in Q1 and $50M program authorization.

**【Q&A Key Takeaways】**
- Market share: 2.5M MTMs vs. 150M+ addressable U.S. consumers, with 60%+ new members retained beyond 12 months.
- Credit performance: 1.5% 28-day delinquency (down 33bps YoY), with Q2+ normalization post-tax refund season.
- Product pipeline: Testing Dave Card rewards, Coastal Bank transition Q3 2025, and Credit product beta in late 2025.
- Risk management: Litigation with DOJ expected to resolve Q3 2025, with confident legal defense stance.

Dave (DAVE)-8 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth**: Q4 2024 revenue up 38% YoY to $100.9M, with 2025 guidance of 20%-25% growth.
- **Profitability**: Adjusted EBITDA hit $33.4M in Q4 (334% YoY), with 2025 target of $110M-$120M.
- **Fee Model Success**: 5% transaction fee drove 17% ExtraCash size growth, 18% ARPU expansion, no Card conversion impact.
- **Credit Strength**: 28-day delinquency at 1.12% (24% YoY improvement), 1.38% charge-off rate.
- **Partnership Impact**: Coastal Community Bank to enable longer-duration credit products, Q2 onboarding of new customers.
- **Capital Efficiency**: 72% variable margin, $91.9M cash on hand, $14.5M net settlement to reduce dilution.


**【CEO Summary Section】**
- **Record Q4 and Full Year Performance**: Achieved $100.9M Q4 revenue (38% YoY growth) and $33.4M adjusted EBITDA, capping a year of 20%+ revenue growth and $110M+ 2025 guidance.
- **New Fee Model Success**: Transitioned to 5% transaction fee with $5-$15 cap, driving 17% YoY ExtraCash size growth and 18% ARPU expansion. Q4 originations hit $1.5B (44% YoY), with no adverse impact on Dave Card conversion.
- **Credit Performance Excellence**: 28-day delinquency improved 24% YoY to 1.12%, underpinned by v5.0 CashAI model using real-time transaction data. 121-day charge-off rate at 1.38% (32% YoY improvement).
- **Growth Strategy**: 
  - **Acquisition**: 12% YoY MTM growth (2.5M) with 26% higher marketing spend, maintaining 72% variable margin.
  - **Engagement**: Dave Card spend up 24% YoY to $457M, driven by ExtraCash-to-Card conversion and fee model simplification.
  - **Partnerships**: New Coastal Community Bank partnership to expand credit products, with Q2 onboarding of new customers.
- **Litigation Update**: Filed motion to dismiss DOJ complaint, confident in legal position while implementing disclosure improvements.

**【CFO Financial Commentary】**
- **Q4 Financial Highlights**: 
  - Total revenue: $100.9M (38% YoY)
  - Adjusted EBITDA: $33.4M (334% YoY)
  - Non-GAAP variable profit: $72.6M (58% YoY)
  - Free cash flow: $91.9M cash on hand
- **Cost Optimization**: 
  - Processing costs down 16% YoY
  - Compensation expenses up 17% of revenue (vs. 23% prior year)
  - Fixed costs down 5% YoY
- **2025 Guidance**: 
  - Revenue: $415M-$435M (20%-25% growth)
  - Adjusted EBITDA: $110M-$120M (27%-39% growth)
- **Capital Allocation**: 
  - $14.5M tax withholding net settlement to reduce dilution
  - Plans for modest R&D and M&A investments

**【Q&A Key Themes】**
- **Fee Model Impact**: 17% ExtraCash size growth, no adverse Card conversion, 18% ARPU expansion.
- **Marketing Spend**: 25% YoY increase in Q4, 2025 plan for "moderate expansion" with 72% variable margin.
- **Credit Risk**: 1.12% provision/originations (vs. 1.41% prior year), 1.38% charge-off rate.
- **Coastal Partnership**: Q2 onboarding of new customers, potential for longer-duration credit products.
- **Capital Returns**: $14.5M net settlement to minimize dilution, open to buybacks as cash flow grows.


Dave (DAVE)-4 Mar 25-2024 Q4 Earnings call transcript

Dave (DAVE)-12 Nov 24-2024 Q3 Earnings call transcript

Dave Inc - Ordinary Shares (DAVE)-6 Aug 24-2024 Q2 Earnings call transcript

Dave Inc - Ordinary Shares (DAVE)-7 May 24-2024 Q1 Earnings call transcript

Dave Inc - Ordinary Shares (DAVE)-5 Mar 24-2023 Q4 Earnings call transcript

- **Revenue Growth**: Q3 GAAP revenue up 16% YoY to $65.8 million, driven by ARPU expansion and Dave Card engagement.
- **Profitability Progress**: Adjusted EBITDA loss reduced 91% YoY to $2.5 million, on track for Q4 positivity.
- **Cost Efficiency**: Marketing spend down 42% YoY, CAC reduced 30% YoY, and variable margin up 1,600 bps YoY.
- **Credit Strength**: 28-day delinquency rate at record low 2.42%, supported by AI underwriting and efficient processing costs.
- **Guidance Uptick**: Full-year 2023 non-GAAP revenue growth 22-24%, variable margin 53-54%, and EBITDA loss narrowing to -$22M to -$17M.

**【CEO Summary Section】**
- **Q3 Performance Highlights**: Delivered strong results with non-GAAP variable margin expanding by 1,600 basis points and adjusted EBITDA loss improving 91% year-over-year to $2.5 million.
- **Strategic Initiatives**: 
  - **Member Acquisition**: Added 821,000 new members with CAC reduced by 30% YoY, driven by channel optimization and macro market dynamics.
  - **Dave Card Growth**: Spending volume increased 73% YoY to $340 million, with ARPU up 9% YoY.
  - **Credit Performance**: 28-day delinquency rate at 2.42%, lowest in company history, supported by AI-driven underwriting models.
- **Profitability Path**: On track to turn adjusted EBITDA positive in Q4, 1-3 quarters faster than 2022 expectations.

**【CFO Financial Commentary】**
- **Revenue Growth**: GAAP revenue $65.8 million (+16% YoY), driven by ARPU expansion and Dave Card engagement.
- **Cost Efficiency**: 
  - Marketing spend reduced 42% YoY to $13.9 million, with CAC efficiency improving 50%.
  - Compensation expense as % of revenue declined to 34% from 41% YoY.
  - Processing costs reduced 26% YoY to $7.1 million, driven by tech investments.
- **Guidance Updates**: 
  - Full-year 2023 non-GAAP revenue: $257-261 million (+22-24% YoY).
  - Variable margin: 53-54% (up 1,200-1,300 bps YoY).
  - Adjusted EBITDA loss: -$22 million to -$17 million (75-80% improvement YoY).
- **Credit Facility**: Amended to $150 million capacity with 200 bps cost reduction, reflecting lender confidence in Dave's unit economics.

**【Q&A Key Highlights】**
- **CAC Efficiency**: Driven by optimized media spend, channel focus on proven ROI, and macro pullback in crypto advertising.
- **Underwriting Models**: New AI-driven models for different member segments improved conversion, retention, and net monetization.
- **Fee Structure Changes**: Transitioned to percent-based express fees for new customers, aligning monetization with origination scale.
- **Future Outlook**: Confident in achieving Q4 EBITDA positivity and maintaining cost structure flexibility for growth.


Actual				-0.0618					0.51	0.6158	1.0061	0.03	1.16	1.97	0.62	6.34	4.57
Forecast		-1.6	-2.24	-1.92	-0.06	-1.72	-1.97	-1.88	-2.05	-0.28	0.1267	0.475	0.42	0.764	1.432	1.82	3.3129
Surprise	0.00%	0.00%	0.00%	+96.78%	0.00%	0.00%	0.00%	0.00%	+124.88%	+319.93%	+694.08%	-93.68%	+176.19%	+157.85%	-56.70%	+248.35%	+37.95%

DAVE

DAVE fundamentals

DAVE Q4 2025 Earnings

Earnings Call

You can ask Aime

DAVE

DAVE fundamentals

DAVE Q4 2025 Earnings

Earnings Call

DAVE Earnings Call Summary for Q4/20255:00 PM on Mar 2, 2026

DAVE Earnings Call Summary for Q3/20258:30 AM on Nov 4, 2025

DAVE Earnings Call Summary for Q2/20258:30 AM on Aug 6, 2025

DAVE Earnings Call Summary for Q1/20258:30 AM on May 8, 2025

DAVE Earnings Call Summary for Q4/20248:30 AM on Mar 4, 2025

You can ask Aime