Dave Inc. ( (DAVE) ) has released its Q3 earnings. Here is a breakdown of the information Dave Inc. presented to its investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Dave Inc., a leading U.S. neobank, provides innovative banking services leveraging disruptive technologies to serve millions of Americans. In its latest earnings report, Dave Inc. announced a record third-quarter revenue of $150.8 million, marking a 63% year-over-year increase, driven by strong growth in Monthly Transacting Members and a record Average Revenue Per User. The company also reported a significant rise in net income to $92 million and adjusted EBITDA to $58.7 million, reflecting a 137% increase. Key performance metrics include a 49% increase in ExtraCash originations to over $2 billion and a 25% rise in Dave Debit Card spend. With a robust financial performance, Dave Inc. has raised its 2025 revenue and adjusted EBITDA guidance to $544-$547 million and $215-$218 million, respectively. Looking ahead, Dave Inc. remains focused on scaling efficiently and driving profitable growth, supported by strong unit economics and strategic recalibrations in underwriting and acquisition strategies.