D
Dave Inc./DE
Period
FY 2025
Revenue
$554.18M
Net Income
$195.87M
Total Assets
$487.42M
Equity
$352.73M
Shares Out
104.02M
Op. Cash Flow
$290.02M
Business
Dave Inc. is a fintech platform providing mobile-first financial services to underserved consumers through partnerships with FDIC-insured banks. Its core products include ExtraCash, an interest-free overdraft credit offering, Dave Checking with fee-free deposit accounts, and personal financial management tools powered by proprietary AI-driven underwriting. The company operates as a program manager and technology provider, monetizing through overdraft service fees, debit-card interchange, and subscription offerings.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenues | 554 | 347 | 259 | 205 | 153 | |
| Provision for credit losses | 91 | 55 | 58 | — | — | |
| Processing and servicing costs | 33 | 29 | 28 | 32 | 23 | |
| Financial network and transaction costs | 28 | 25 | 23 | — | — | |
| Advertising and activation costs | 66 | 53 | 57 | — | — | |
| Compensation and benefits | 103 | 106 | 93 | 103 | 50 | |
| Technology and infrastructure | 12 | 11 | 11 | — | — | |
| Other operating expenses | 33 | 34 | 32 | 69 | 43 | |
| Total operating expenses | 368 | 312 | 301 | 339 | 200 | |
| Interest income | −2 | −3 | −5 | −3 | −287,000 | |
| Interest expense | 7 | 8 | 12 | 9 | 3 | |
| Gain on extinguishment of convertible debt | 0 | −33 | 0 | −4 | 0 | |
| Changes in fair value of earnout liabilities | 3 | 965,000 | −22,000 | −10 | 0 | |
| Changes in fair value of public and private warrant liabilities | 10 | 2 | −260,000 | −14 | 4 | |
| Total other (income) expense, net | 19 | −26 | 6 | −5 | −27 | |
| Net income (loss) before provision (benefit) for income taxes | 168 | 60 | −48 | −129 | −20 | |
| Provision (benefit) for income taxes | −28 | 2 | 120,000 | −67,000 | 97,000 | |
| Net income (loss) | 196 | 58 | −49 | −129 | −20 | |
| Basic (per share) | 14.65 | 4.62 | −4.07 | −11.12 | −4.69 | |
| Diluted (per share) | 13.53 | 4.19 | −4.07 | −11.12 | −4.69 | |
| Basic (shares) | 13 | 13 | 12 | 12 | 4 | |
| Diluted (shares) | 14 | 14 | 12 | 12 | 4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 81 | 50 | 42 | 23 | 32 | |
| Marketable securities | 0 | 97,000 | 952,000 | 285,000 | 8 | |
| ExtraCash receivables, net of allowance for credit losses of $37,641 and $22,703 as of December 31, 2025 and December 31, 2024, respectively | 297 | 176 | 113 | 104 | 49 | |
| Investments | 41 | 40 | 113 | 169 | 0 | |
| Prepaid expenses and other current assets | 18 | 16 | 8 | 12 | 4 | |
| Total current assets | 437 | 282 | 277 | 309 | 100 | |
| Property and equipment, net | 474,000 | 704,000 | 1 | 1 | 685,000 | |
| Lease right-of-use assets (related-party of $195 and $507 as of December 31, 2025 and December 31, 2024, respectively) | 195,000 | 507,000 | 773,000 | 735,000 | 3 | |
| Intangible assets, net | 14 | 14 | 13 | 10 | 8 | |
| Debt facility commitment fee, long-term | 0 | 163,000 | 318,000 | 75,000 | 131,000 | |
| Restricted cash | 2 | 2 | 1 | 788,000 | 363,000 | |
| Deferred tax assets, net | 34 | 0 | — | — | — | |
| Other non-current assets | 357,000 | 380,000 | 403,000 | 137,000 | 0 | |
| Total assets | 487 | 299 | 294 | 321 | 147 | |
| Accounts payable | 8 | 7 | 5 | 11 | 13 | |
| Accrued expenses | 15 | 17 | 13 | 11 | 13 | |
| Debit facility, current | 75 | 0 | — | — | — | |
| Lease liabilities, short-term (related-party of $63 and $350 as of December 31, 2025 and December 31, 2024, respectively) | 63,000 | 350,000 | 298,000 | 273,000 | 2 | |
| Legal settlement accrual | 8 | 7 | 3 | 9 | 4 | |
| Other current liabilities | 8 | 4 | 4 | 4 | 1 | |
| Total current liabilities | 114 | 35 | 26 | 36 | 69 | |
| Lease liabilities, long-term (related-party of $141 and $204 as of December 31, 2025 and December 31, 2024, respectively) | 141,000 | 204,000 | 543,000 | 550,000 | 970,000 | |
| Debt facility, long-term | 0 | 75 | 75 | 75 | 35 | |
| Warrant and earnout liabilities | 16 | 3 | 233,000 | 516,000 | — | |
| Other non-current liabilities | 4 | 3 | 129,000 | 124,000 | 119,000 | |
| Total liabilities | 135 | 116 | 207 | 215 | 108 | |
| Commitments and contingencies (Note 12) | — | — | — | — | — | |
| Preferred stock, par value per share $0.0001, 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 353 | 335 | 297 | 270 | 87 | |
| Treasury shares, at cost (Class A common stock, 274,490 shares at December 31, 2025) | −44 | 0 | — | — | — | |
| Accumulated other comprehensive gain | 374,000 | 221,000 | 649,000 | −2 | 0 | |
| Retained earnings (accumulated deficit) | 43 | −152 | −210 | −162 | −33 | |
| Total stockholders' equity | 353 | 183 | 87 | 107 | 39 | |
| Total liabilities, and stockholders' equity | 487 | 299 | 294 | 321 | 147 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 7 | 8 | 6 | 7 | 3 | |
| Stock-based compensation | 30 | 37 | 27 | 41 | 7 | |
| Deferred income taxes | −34 | 0 | 0 | — | — | |
| Non-cash interest | 0 | 251,000 | 3 | 2 | −233,000 | |
| Non-cash lease expense | −38,000 | −21,000 | −20,000 | −100,000 | 78,000 | |
| Changes in fair value of marketable securities and investments | 76,000 | −16,000 | 44,000 | −578,000 | 1,000 | |
| ExtraCash receivables, service based revenue | −17 | −6 | −4 | −7 | −2 | |
| Prepaid income taxes | 0 | 148,000 | 683,000 | 550,000 | 3 | |
| Prepaid expenses and other current assets | −2 | −8 | 3 | −7 | −311,000 | |
| Accounts payable | 2 | 1 | −6 | 330,000 | 3 | |
| Accrued expenses | −2 | 4 | 2 | −2 | 7 | |
| Legal settlement accrual | 733,000 | 4 | −6 | 6 | 500,000 | |
| Other current liabilities | 4 | 267,000 | −446,000 | −263,000 | −2 | |
| Other non-current liabilities | 1 | 3 | 5,000 | 0 | −466,000 | |
| Other non-current assets | 23,000 | 23,000 | −266,000 | −137,000 | 0 | |
| Net cash provided by operating activities | 290 | 125 | 34 | −45 | −541,000 | |
| Payments for internally developed software costs | −6 | −7 | −8 | −9 | −6 | |
| Purchase of property and equipment | −317,000 | −262,000 | −688,000 | −728,000 | −371,000 | |
| Net originations, purchases and collections of ExtraCash receivables | −196 | −111 | −63 | — | — | |
| Purchase of investments | −190 | −111 | −120 | −202 | — | |
| Sale and maturity of investments | 190 | 184 | 178 | 32 | — | |
| Purchase of marketable securities | −3,000 | −59 | −34 | −318 | −5,000 | |
| Sale of marketable securities | 100,000 | 60 | 34 | 326 | 9 | |
| Net cash used in investing activities | −203 | −46 | −14 | −286 | −37 | |
| Repurchases of Class A common stock | −44 | 0 | 0 | −536,000 | 0 | |
| Payment for fractional shares on reverse stock split | 0 | 0 | −12,000 | 0 | — | |
| Proceeds from issuance of common stock for stock option exercises | 761,000 | 1 | 34,000 | 620,000 | 2 | |
| Payment of taxes for shares withheld related to net share settlement | −13 | 0 | 0 | — | — | |
| Payment of costs for extinguishment of convertible debt | 0 | −1 | 0 | — | — | |
| Repayment of borrowings on convertible debt, long-term | 0 | −71 | 0 | — | — | |
| Net cash (used in) provided by financing activities | −56 | −71 | 22,000 | 322 | 65 | |
| Net increase in cash and cash equivalents and restricted cash | 31 | 8 | 19 | −9 | 27 | |
| Property and equipment purchases in accounts payable and accrued liabilities | 0 | 0 | 2,000 | 3,000 | — | |
| Operating lease right of use assets recognized | 0 | 0 | 298,000 | 0 | 3 | |
| Operating lease liabilities recognized | 0 | 0 | 298,000 | 0 | 3 | |
| Income taxes | 6 | 109,000 | −586,000 | −622,000 | −2 | |
| Interest | 7 | 8 | 9 | 6 | 2 |
Filings
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Frequently asked questions
What is Dave Inc./DE's CIK number?
Dave Inc./DE's SEC CIK number is 0001841408 (1841408). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Dave Inc./DE's SEC filings?
All of Dave Inc./DE's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Dave Inc./DE last report earnings?
Dave Inc./DE (DAVE) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-206471). This is Dave Inc./DE's most recent earnings filing of record — not a forecast of its next earnings date.
What is Dave Inc./DE's most recent earnings 8-K?
Dave Inc./DE's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001193125-26-206471. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Dave Inc./DE's latest earnings 8-K →
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