Dave Inc./DE New Standards Disclosure

Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted:

In November 2024, the FASB issued ASU No. 2024‑03, Income Statement—Reporting Comprehensive Income (Topic 220): Disaggregation of Income Statement Expenses, and in January 2025, the FASB issued ASU No. 2025‑01, Clarifying the Effective Date. Together, these amendments require entities to disclose, for each relevant income statement expense caption,

the amounts of inventory purchases, employee compensation, and depreciation and intangible asset amortization, as well as total selling expenses and the entity’s definition of selling expenses. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted and application permitted on a prospective or retrospective basis. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial position, results of operations or cash flows and expects the impact to be limited to additional disclosures in the notes to its consolidated financial statements.

In May 2025, the FASB issued ASU 2025‑04, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Clarifications to Share‑Based Consideration Payable to a Customer. The amendments clarify the accounting for share‑based payment awards issued to customers, including revising the definition of a performance condition, narrowing the scope of awards accounted for under Topic 718 versus Topic 606, and providing guidance on measuring and presenting the effects of such awards. The guidance is effective for public business entities for fiscal years beginning after December 15, 2026, including interim periods within those fiscal years, with early adoption permitted and transition allowed on a modified retrospective or retrospective basis. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial position, results of operations or cash flows and is evaluating the impact on its revenue‑ and share‑based compensation‑related disclosures, including any share‑based consideration arrangements with customers.

In July 2025, the FASB issued ASU 2025‑05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, which introduces a practical expedient for estimating expected credit losses on current accounts receivable and current contract assets arising from revenue transactions within the scope of ASC 606. Under the expedient, entities may assume that current economic conditions at the balance sheet date will remain unchanged over the remaining life of the asset when estimating expected credit losses. ASU 2025‑05 is effective for annual reporting periods beginning after December 15, 2025, including interim periods within those fiscal years, with early adoption permitted and prospective application required. As a public business entity, the Company is not eligible for the separate accounting policy election available to certain nonpublic entities to consider subsequent collection activity but may elect the practical expedient; the Company does not expect the adoption of this guidance, including any election of the expedient, to have a material impact on its consolidated financial position, results of operations or cash flows, but it may result in changes to the Company’s credit loss estimation process and related disclosures.

In September 2025, the FASB issued ASU 2025‑06, Intangibles—Goodwill and Other—Internal‑Use Software (Subtopic 350‑40): Targeted Improvements to the Accounting for Internal‑Use Software, which eliminates references to traditional software development stages, clarifies the capitalization threshold for internal‑use software costs, and supersedes Subtopic 350‑50 by incorporating website development cost guidance into Subtopic 350‑40. The amendments require capitalization of internal‑use software costs once management authorizes funding and it is probable that the project will be completed and placed into service for its intended use, provided there is no significant development uncertainty, and they align disclosure requirements for capitalized and amortized software costs with those in ASC 360‑10. ASU 2025‑06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted, and may be applied on a prospective, modified retrospective or retrospective basis. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial position, results of operations or cash flows, but is evaluating the impact on its accounting policies, financial statements and related disclosures for capitalized internal‑use software costs.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies when interim reporting guidance applies, improves navigability of interim disclosure requirements, and consolidates interim disclosure requirements from other Topics into Topic 270. The amendments do not change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements. For public business entities, the amendments are effective for interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted and application permitted on a prospective or retrospective basis. The Company is evaluating the impact of this guidance on its interim financial statement disclosures.

In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which makes 33 targeted amendments across GAAP to clarify, correct, and improve the Codification without changing core principles. The amendments address items such as removing obsolete glossary entries, fixing illustrative errors, clarifying EPS dilution guidance, refining credit-loss guidance, and updating various cross-references. For all entities, the amendments are effective for annual reporting periods beginning after December 15, 2026, and interim periods within those annual reporting periods, with early adoption permitted on an issue-by-issue basis and transition permitted on a prospective or retrospective basis. The Company is evaluating the impact of this guidance on its consolidated financial statements and disclosures.

Recently Adopted Accounting Pronouncements:

In December 2023, the FASB issued ASU 2023‑09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires enhanced annual disclosures related to the effective tax rate reconciliation, including more disaggregated categories, and income taxes paid disaggregated by jurisdiction, as well as certain income tax information disaggregated by domestic and foreign sources. For public business entities, the amendments are effective for annual periods beginning after December 15, 2024, with early adoption permitted, and may be applied prospectively or retrospectively. The Company adopted ASU 2023‑09 in its annual financial statements for the year ended December 31, 2025 using a retrospective approach. The adoption did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows, but resulted in additional income tax disclosures included in the notes to the consolidated financial statements.

In November 2023, the FASB issued ASU 2023‑07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires additional annual and interim disclosures about significant segment expenses and other items included in reported measures of segment profit or loss, and clarifies that entities with a single reportable segment are subject to the same disclosure requirements as entities with multiple reportable segments. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with retrospective application required to all periods presented. The Company adopted ASU 2023‑07 for its annual reporting beginning with the year ended December 31, 2024 and for interim reporting beginning in 2025. The adoption did not have a material impact on the Company’s consolidated financial position, results of operations or cash flows, but resulted in expanded segment disclosures in the notes to the consolidated financial statements.

In June 2016, the FASB issued ASU 2016‑13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the Current Expected Credit Losses (“CECL”) model for financial assets measured at amortized cost and certain off‑balance sheet credit exposures. The Company adopted ASU 2016‑13 on January 1, 2023. The adoption did not have a material impact on the Company’s consolidated financial statements, and the Company continues to measure expected credit losses on its financial assets in accordance with the CECL model.