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EarningsQ2 2026 Earnings Report
DAVE Q2 2026 EPS Results
Actual EPS$0.49
Consensus EPS$3.44
Beat/MissMissed by -$2.95
One Year Ago EPS$0.62
DAVE Q2 2026 Revenue Results
Actual Revenue$170.79M
Expected Revenue$171.11M
Beat/MissMissed by -$318.00K
YoY Revenue Growth+29.63%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
DAVE Upcoming Earnings
Dave's next earnings date is estimated for November 10, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DAVE Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: double-digit top-line growth, outsized adjusted EBITDA expansion, record member additions, improved ARPU and successful capital-efficiency actions (Coastal funding). Management raised full-year guidance and signaled continued investment in marketing, product (Cash AI V6) and a promising Flex card test. Near-term headwinds include noncash GAAP volatility from warrants, higher provisions driven by portfolio growth and seasonality, increased marketing and stock-based compensation, and the unresolved DOJ matter. Key strategic risks (Flex scale, full V6 seasoning and Coastal migration) remain but are being actively managed.Company Guidance
Strong Revenue Growth
Total revenue grew 30% year-over-year to $171 million in Q2 2026 and nearly 8% sequentially; company reported its ninth consecutive quarter of 30%+ revenue growth.
Adjusted EBITDA and Margin Expansion
Adjusted EBITDA rose 48% year-over-year to $76 million with an adjusted EBITDA margin of 44% (up ~600 basis points year-over-year).
Raised Full-Year Guidance
Management raised 2026 guidance: revenue to $725M–$735M (midpoint ~32% YoY growth), adjusted EBITDA to $315M–$325M, and adjusted diluted EPS to $17.00–$17.50 (up from prior ranges).
Robust Member Acquisition
Added 951,000 new members in the quarter (up 32% YoY), the fastest growth in nearly four years, while holding CAC flat at $19.
ExtraCash Origination and ARPU Momentum
ExtraCash originations reached $2.3 billion (up 27% YoY); average ExtraCash size hit a record $215; ARPU grew 11% quarter-over-quarter for MTMs, and management expects further ARPU upside from fee-cap changes and cohort maturation.
Cash AI V6 Rollout
Began rolling out Cash AI V6 (built on ~700 model features, ~400 new); early results indicate higher credit limits and expanded gross profit dollars while keeping loss rates in the target range.
Improving Gross Profit and Margin Outlook
Non-GAAP gross profit was $124 million (up 34% YoY) with non-GAAP gross margin of 72% (up ~300 bps YoY); management expects gross margin to expand toward the mid-70s for the year.
Capital Efficiency via Coastal Partnership
New funding structure with Coastal Community Bank unlocked nearly $100 million of cash on the balance sheet, improved capital efficiency, lowered cost of funds; $93 million drawn on a $225 million facility at quarter end with room to expand.
Balance Sheet and Shareholder Returns
Ended the quarter with $254 million of cash, investments and restricted cash (up $77 million QoQ), repurchased $19 million of shares in the quarter with $94 million remaining under authorization; net cash from ExtraCash receivables improved materially vs prior year.
Revenue Mix Improvements
High-margin subscription revenue expanded to 9% of total revenue (from 6% a year ago); Dave Card volume reached approx. $530 million (up 7% YoY); product tests (Dave Flex) showing promising unit economics and complementary usage to ExtraCash.
DAVE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed