Dave Inc.(DAVE)Earnings, Financials & Key Ratios

DAVE•NASDAQ

$246.37

$3.27B mkt cap·18.2× P/E·Price updated May 6, 2026

SectorTechnology IndustryApplication Software Sub-IndustryFinancial services and insurance software

AboutDave Inc. provides a suite of financial products and services through its financial service online platform. The company offers Insights, a personal financial management tool to manage income and expenses between paychecks for members; ExtraCash, a free overdraft and short-term credit alternative, which allows members to advance funds to their account and avoid a fee; and Side Hustle, a job application portal. It also provides Dave Banking, a digital checking and demand deposit account. The company was founded in 2015 and is based in West Hollywood, California.Show more

Revenue$512M+47.5%
EBITDA$48M+13.8%
Net Income$196M+238.4%
EPS (Diluted)13.53+222.9%
Gross Margin79.81%-12.5%
EBITDA Margin9.4%-22.8%
Operating Margin8.01%-19.7%
Net Margin38.26%+129.5%
ROE73.11%+70.6%
ROIC11.05%-7.3%
Debt/Equity0.21-48.3%
Interest Coverage24.86+190.6%

Technical→

DAVE Key Insights

Dave Inc. (DAVE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.9%
✓FCF machine: 56.6% free cash flow margin
✓Momentum leader: RS Rating 83 (top 17%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 33.3%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Expensive at 10.1x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

DAVE Price & Volume

Dave Inc. (DAVE) stock price & volume — 10-year historical chart

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DAVE Growth Metrics

Dave Inc. (DAVE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years33.26%

3 Years35.7%

TTM44.59%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM329.14%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM321.02%

Return on Capital

10 Years-11.66%

5 Years-14.61%

3 Years3.53%

Last Year12.86%

DAVE Recent Earnings

Dave Inc. (DAVE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 12/12 qtrs (100%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

May 5, 2026

EPS

$3.64

Est $2.86

+27.3%

Revenue

$158M

Est $154M

+3.1%

Q2 2026

Mar 2, 2026

EPS

$3.69

Est $3.31

+11.5%

Revenue

$164M

Est $161M

+2.0%

Q4 2025

Nov 4, 2025

EPS

$4.24

Est $2.29

+85.2%

Revenue

$151M

Est $153M

-1.5%

Q3 2025

Aug 6, 2025

EPS

$3.14

Est $1.90

+65.3%

Revenue

$132M

Est $133M

-0.6%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 5, 2026	$3.64vs $2.86+27.3%	$158Mvs $154M+3.1%
Q2 2026	Mar 2, 2026	$3.69vs $3.31+11.5%	$164Mvs $161M+2.0%
Q4 2025	Nov 4, 2025	$4.24vs $2.29+85.2%	$151Mvs $153M-1.5%
Q3 2025	Aug 6, 2025	$3.14vs $1.90+65.3%	$132Mvs $133M-0.6%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
MOGOMogo Inc.Direct Competitor	24.95M	1.03	-2.50	9.18%	10.86%	9.73%	1.05
ENVAEnova International, Inc.Direct Competitor	4.3B	172.57	14.90	18.58%		24.88%	3.41
OMFOneMain Holdings, Inc.Direct Competitor	6.55B	55.90	8.52	9.09%		23.62%	6.67
AFRMAffirm Holdings, Inc.Product Competitor	21.85B	65.58	437.20	38.8%	7.6%	8.83%	2.56
UPSTUpstart Holdings, Inc.Product Competitor	2.74B	28.68	63.73	58.87%		6.59%	2.32
LDIloanDepot, Inc.Product Competitor	469.04M	1.40	-4.67	37.59%		-14.5%	13.05
OPFIOppFi Inc.Product Competitor	258.44M	9.75	9.85	13.52%	4.41%	10.12%	1.10
PRAAPRA Group, Inc.Product Competitor	818.67M	21.29	-2.73	10.36%		-25.96%	0.03

Compare DAVE vs Peers

Dave Inc. (DAVE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MOGO

Most directly comparable listed peer for DAVE.

Scale Benchmark

vs V

Larger-name benchmark to compare DAVE against a more recognizable public peer.

Peer Set

Compare Top 5

vs MOGO, ENVA, OMF, AFRM

DAVE Income Statement

Dave Inc. (DAVE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	76.23M	121.8M	153.01M	204.84M	259.09M	347.08M	511.91M	551.52M
Revenue Growth %	-	59.78%	25.63%	33.87%	26.49%	33.96%	47.49%	44.59%
Cost of Goods Sold	15.22M	21.65M	23.46M	31.95M	28.93M	30.38M	103.35M	102.19M
COGS % of Revenue	19.96%	17.77%	15.33%	15.6%	11.16%	8.75%	20.19%	-
Gross Profit	61.01M▲ 0%	100.15M▲ 64.2%	129.55M▲ 29.4%	172.89M▲ 33.5%	230.17M▲ 33.1%	316.7M▲ 37.6%	408.56M▲ 29.0%	449.33M▲ 0%
Gross Margin %	80.04%	82.23%	84.67%	84.4%	88.84%	91.25%	79.81%	81.47%
Gross Profit Growth %	-	64.15%	29.36%	33.45%	33.13%	37.6%	29%	-
Operating Expenses	61.01M	100.15M	135.93M	307.29M	272.37M	282.09M	367.56M	422.33M
OpEx % of Revenue	80.04%	82.23%	88.84%	150.01%	105.12%	81.28%	71.8%	-
Selling, General & Admin	32.18M	60.23M	101M	172.47M	143.3M	151.93M	0	130.16M
SG&A % of Revenue	42.21%	49.45%	66.01%	84.2%	55.31%	43.77%	-	-
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	28.84M	39.92M	34.93M	134.82M	129.06M	130.16M	367.56M	4M
Operating Income	1.78M▲ 0%	0▼ 100.0%	-6.38M▲ 0%	-134.4M▼ 2007.5%	-42.2M▲ 68.6%	34.61M▲ 182.0%	41M▲ 18.5%	27M▲ 0%
Operating Margin %	2.33%	-	-4.17%	-65.61%	-16.29%	9.97%	8.01%	4.9%
Operating Income Growth %	-	-100%	-	-2007.52%	68.6%	182.02%	18.45%	-
EBITDA	2.58M	-5.08M	-3.32M	-127.26M	-36.66M	42.29M	48.13M	32.59M
EBITDA Margin %	3.39%	-4.17%	-2.17%	-62.13%	-14.15%	12.19%	9.4%	5.91%
EBITDA Growth %	-	-296.63%	34.57%	-3730.97%	71.2%	215.38%	13.8%	-54.64%
D&A (Non-Cash Add-back)	805K	1.72M	3.06M	7.13M	5.54M	7.68M	7.13M	5.59M
EBIT	2.18M	-6.79M	-17.35M	-119.78M	-36.62M	68.34M	175.07M	139.2M
Net Interest Income	-423K	-964K	-2.26M	-6.24M	-6.48M	-5M	-5.45M	-4.12M
Interest Income	429K	409K	287K	2.95M	5.29M	2.98M	1.6M	341K
Interest Expense	852K	17K	2.54M	9.2M	11.77M	7.99M	7.04M	7.01M
Other Income/Expense	-445K	-6.81M	-13.52M	5.42M	-6.2M	25.74M	127.03M	177.32M
Pretax Income	1.33M▲ 0%	-6.81M▼ 611.4%	-19.9M▼ 192.1%	-128.97M▼ 548.2%	-48.4M▲ 62.5%	60.35M▲ 224.7%	168.03M▲ 178.4%	204.4M▲ 0%
Pretax Margin %	1.75%	-5.59%	-13%	-62.96%	-18.68%	17.39%	32.82%	37.06%
Income Tax	545K	145K	97K	-67K	120K	2.48M	-27.84M	-20.65M
Effective Tax Rate %	40.92%	-2.13%	-0.49%	0.05%	-0.25%	4.11%	-16.57%	-10.1%
Net Income	787K▲ 0%	-6.96M▼ 984.0%	-19.99M▼ 187.4%	-128.91M▼ 544.8%	-48.52M▲ 62.4%	57.87M▲ 219.3%	195.87M▲ 238.4%	225.05M▲ 0%
Net Margin %	1.03%	-5.71%	-13.07%	-62.93%	-18.73%	16.67%	38.26%	40.81%
Net Income Growth %	-	-983.99%	-187.38%	-544.76%	62.36%	219.28%	238.44%	329.14%
Net Income (Continuing)	787K	-6.96M	-19.99M	-128.91M	-48.52M	57.87M	195.87M	225.05M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)	0.00▲ 0%	-0.60▲ 0%	-1.72▼ 186.7%	-10.92▼ 534.9%	-4.07▲ 62.7%	4.19▲ 202.9%	13.53▲ 222.9%	15.63▲ 0%
EPS Growth %	-	-	-186.67%	-534.88%	62.73%	202.95%	222.91%	321.02%
EPS (Basic)	0.00	-0.60	-1.72	-10.92	-4.07	4.62	14.65	-
Diluted Shares Outstanding	11.63M	11.63M	11.63M	11.8M	11.93M	13.82M	14.48M	14.4M
Basic Shares Outstanding	11.63M	11.63M	11.63M	11.8M	11.93M	12.52M	13.37M	13.43M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

DAVE Balance Sheet

Dave Inc. (DAVE) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	62.22M	69.35M	100.2M	308.57M	276.89M	282.27M	436.7M	479.63M
Cash & Short-Term Investments	31.71M	22.45M	40.23M	191.96M	155.94M	90.29M	80.52M	133.33M
Cash Only	6.41M	4.79M	32.01M	22.89M	41.76M	49.72M	80.52M	133.33M
Short-Term Investments	25.3M	17.67M	8.23M	169.07M	114.18M	40.57M	0	0
Accounts Receivable	29.04M	38.74M	49.01M	104.18M	112.85M	175.86M	0	0
Days Sales Outstanding	139.06	116.11	116.92	185.64	158.97	184.94	-	86.53
Inventory	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-
Other Current Assets	1.46M	4.14M	9.57M	11.59M	7.96M	16.13M	356.17M	346.3M
Total Non-Current Assets	4.87M	7.05M	46.98M	12.92M	17.14M	17.05M	50.72M	50.9M
Property, Plant & Equipment	2.18M	1.89M	3.39M	1.76M	1.89M	1.21M	669K	845K
Fixed Asset Turnover	34.97x	64.31x	45.18x	116.32x	137.01x	286.60x	765.19x	677.54x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	2.09M	4.5M	7.85M	10.16M	13.21M	13.64M	13.67M	13.69M
Long-Term Investments	0	0	0	0	0	0	0	0
Other Non-Current Assets	603K	654K	35.75M	1M	2.04M	2.2M	2.2M	39.26M
Total Assets	67.09M▲ 0%	76.41M▲ 13.9%	147.19M▲ 92.6%	321.49M▲ 118.4%	294.02M▼ 8.5%	299.33M▲ 1.8%	487.42M▲ 62.8%	530.53M▲ 0%
Asset Turnover	1.14x	1.59x	1.04x	0.64x	0.88x	1.16x	1.05x	1.22x
Asset Growth %	-	13.89%	92.64%	118.43%	-8.54%	1.8%	62.84%	237.15%
Total Current Liabilities	9.57M	24.18M	68.63M	36.42M	25.6M	35.06M	114M	124.34M
Accounts Payable	6.5M	8.49M	13.04M	11.42M	5.49M	6.77M	8.36M	6.73M
Days Payables Outstanding	155.97	143.19	202.95	130.46	69.21	81.31	29.52	27.38
Short-Term Debt	0	3.91M	35.75M	0	0	0	75.06M	75.3M
Deferred Revenue (Current)	0	0	0	0	0	0	0	606K
Other Current Liabilities	666K	3.73M	2.67M	5.84M	16.22M	9.3M	30.58M	42.31M
Current Ratio	6.50x	2.87x	1.46x	8.47x	10.81x	8.05x	3.83x	3.83x
Quick Ratio	6.50x	2.87x	1.46x	8.47x	10.81x	8.05x	3.83x	3.83x
Cash Conversion Cycle	-	-	-	-	-	-	-	59.15
Total Non-Current Liabilities	2.22M	2.38M	39.81M	178.51M	181.36M	81.17M	20.69M	202.41M
Long-Term Debt	696K	708K	35M	177.32M	180.45M	75M	141K	192.91M
Capital Lease Obligations	1.49M	1.09M	970K	550K	543K	204K	0	472K
Deferred Tax Liabilities	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	36.9K	584.9K	3.85M	640K	362K	5.96M	20.55M	87.35M
Total Liabilities	11.8M	26.56M	108.45M	214.93M	206.96M	116.23M	134.69M	326.75M
Total Debt	2.55M	6.11M	73.64M	178.15M	181.29M	75.55M	75.2M	268.21M
Net Debt	-3.85M	1.32M	41.63M	155.26M	139.53M	25.84M	-5.32M	134.88M
Debt / Equity	0.05x	0.12x	1.90x	1.67x	2.08x	0.41x	0.21x	0.21x
Debt / EBITDA	0.99x	-	-	-	-	1.79x	1.56x	8.23x
Net Debt / EBITDA	-1.49x	-	-	-	-	0.61x	-0.11x	-0.11x
Interest Coverage	2.56x	-399.71x	-6.82x	-13.02x	-3.11x	8.55x	24.86x	19.85x
Total Equity	55.29M▲ 0%	49.84M▼ 9.9%	38.74M▼ 22.3%	106.56M▲ 175.1%	87.06M▼ 18.3%	183.1M▲ 110.3%	352.73M▲ 92.6%	203.78M▲ 0%
Equity Growth %	-	-9.85%	-22.28%	175.09%	-18.3%	110.31%	92.64%	234.9%
Book Value per Share	4.76	4.29	3.33	9.03	7.29	13.25	24.36	14.15
Total Shareholders' Equity	55.29M	49.84M	38.74M	106.56M	87.06M	183.1M	352.73M	203.78M
Common Stock	100	100	1K	1K	1K	1K	1K	1K
Retained Earnings	-5.95M	-12.9M	-32.9M	-161.8M	-210.32M	-152.45M	43.42M	101.35M
Treasury Stock	-154K	-154K	-5K	0	0	0	0	0
Accumulated OCI	0	0	0	-1.68M	649K	221K	0	296K
Minority Interest	0	0	0	0	0	0	0	0

DAVE Cash Flow Statement

Dave Inc. (DAVE) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	-10.93M	-9.15M	-541K	-44.88M	33.75M	125.14M	290.02M	290.02M
Operating CF Margin %	-14.34%	-7.51%	-0.35%	-21.91%	13.03%	36.05%	56.66%	-
Operating CF Growth %	-	16.31%	94.08%	-8196.3%	175.2%	270.73%	131.76%	473.02%
Net Income	787K	-6.96M	-19.99M	-128.91M	-48.52M	57.87M	195.87M	225.05M
Depreciation & Amortization	805K	1.72M	3.06M	7.13M	5.54M	7.68M	7.13M	7.22M
Stock-Based Compensation	446K	1.52M	7.38M	40.64M	26.67M	37.33M	29.9M	29.48M
Deferred Taxes	20.2M	0	0	0	0	0	-34.19M	-34.16M
Other Non-Cash Items	-648K	25.28M	863K	45.35M	61.24M	24.09M	110.02M	114.75M
Working Capital Changes	-32.52M	-30.71M	8.15M	-9.1M	-11.19M	-1.84M	-18.7M	-15.48M
Change in Receivables	4.86M	1.98M	2.57M	330K	0	-6.16M	-11.35M	-8.03M
Change in Inventory	-4.86M	0	0	0	0	0	0	0
Change in Payables	4.86M	1.98M	2.57M	330	-5.93M	1.28M	1.59M	418K
Cash from Investing	-19.7M	3.42M	-37.2M	-285.58M	-14.38M	-45.84M	-202.75M	-184.83M
Capital Expenditures	-2.58M	-231K	-371K	-9.31M	-688K	-262K	-317K	-299K
CapEx % of Revenue	3.39%	0.19%	0.24%	4.55%	0.27%	0.08%	0.06%	-
Acquisitions	1.75M	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	-1.75M	-3.99M	-46.27M	-114.32M	-70.86M	-118.76M	-202.37M	-183.07M
Cash from Financing	33.87M	4.24M	65.05M	321.77M	22K	-71M	-56.29M	-55.47M
Debt Issued (Net)	-1.3M	3.91M	66.09M	120M	0	-71M	0	0
Equity Issued (Net)	49.52M	0	0	194.46M	-12K	1.27M	-43.73M	-30.72M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-154K	0	0	-536K	-12K	0	-43.73M	-217.89M
Other Financing	-14.35M	331K	-1.04M	7.3M	34K	-1.26M	-12.56M	-24.74M
Net Change in Cash	3.24M▲ 0%	-1.48M▼ 145.7%	27.3M▲ 1941.1%	-8.7M▼ 131.8%	19.4M▲ 323.1%	8.3M▼ 57.2%	30.99M▲ 273.4%	86.51M▲ 0%
Free Cash Flow	-13.51M▲ 0%	-13.37M▲ 1.1%	-7.02M▲ 47.5%	-54.2M▼ 672.1%	25.17M▲ 146.4%	124.88M▲ 396.1%	289.71M▲ 132.0%	326.5M▲ 0%
FCF Margin %	-17.73%	-10.97%	-4.59%	-26.46%	9.71%	35.98%	56.59%	59.2%
FCF Growth %	-	1.09%	47.49%	-672.12%	146.45%	396.11%	132%	125.68%
FCF per Share	-1.16	-1.15	-0.60	-4.59	2.11	9.03	20.01	20.01
FCF Conversion (FCF/Net Income)	-13.89x	1.31x	0.03x	0.35x	-0.70x	2.16x	1.48x	1.45x
Interest Paid	0	0	1.99M	0	0	0	0	0
Taxes Paid	0	2.8M	0	0	0	0	0	0

DAVE Key Ratios

Dave Inc. (DAVE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	-13.23%	-45.14%	-177.44%	-50.11%	42.84%	73.11%	84.53%
Return on Invested Capital (ROIC)	-	-7.27%	-58.91%	-12.96%	11.92%	11.05%	11.05%
Gross Margin	82.23%	84.67%	84.4%	88.84%	91.25%	79.81%	81.47%
Net Margin	-5.71%	-13.07%	-62.93%	-18.73%	16.67%	38.26%	40.81%
Debt / Equity	0.12x	1.90x	1.67x	2.08x	0.41x	0.21x	0.21x
Interest Coverage	-399.71x	-6.82x	-13.02x	-3.11x	8.55x	24.86x	19.85x
FCF Conversion	1.31x	0.03x	0.35x	-0.70x	2.16x	1.48x	1.45x
Revenue Growth	59.78%	25.63%	33.87%	26.49%	33.96%	47.49%	44.59%

DAVE SEC Filings & Documents

Dave Inc. (DAVE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 5, 2026·SEC

Material company update

Mar 9, 2026·SEC

Material company update

Mar 6, 2026·SEC

10-K Annual Reports

FY 2026

Mar 2, 2026·SEC

FY 2025

Mar 4, 2025·SEC

FY 2024

Mar 5, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 6, 2025·SEC

DAVE Frequently Asked Questions

Dave Inc. (DAVE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Dave Inc. (DAVE) reported $551.5M in revenue for fiscal year 2025. This represents a 624% increase from $76.2M in 2019.

Dave Inc. (DAVE) grew revenue by 47.5% over the past year. This is strong growth.

Yes, Dave Inc. (DAVE) is profitable, generating $225.0M in net income for fiscal year 2025 (38.3% net margin).

Dividend & Returns

Dave Inc. (DAVE) has a return on equity (ROE) of 73.1%. This is excellent, indicating efficient use of shareholder capital.

Dave Inc. (DAVE) generated $326.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Dave Inc. (DAVE) financial analysis — history, returns, DCA and operating performance tools

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Dave Inc.(DAVE)Earnings, Financials & Key Ratios

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