DAVE
Dave Inc.198.93
+7.90+4.14%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms script, details products
Q&A largely reaffirmed prepared remarks on Dave's durable growth algorithm and upbeat 2026 guidance, with management confidently addressing analyst probes on credit and products. They plan CashAI v6.0 testing later this year, enabled by rapid iteration on short-duration loans. Pay in 4 faces some ExtraCash cannibalization but offers higher LTV, larger limits (50%-2x), and fresh UA scale amid low wallet share on $3,000-$4,000 monthly incomes. Grandfathered Dave Card subs remain at $1, with future optionality. MTM acceleration stemmed from internal tweaks, not macro; tax refunds up 10% but normal. Guidance stays conservatively set to outperform. Q&A adds tactical color. Investors watch pay in 4 testing.
Key Stats
Market Cap
2.69BP/E (TTM)
19.62Basic EPS (TTM)
10.14Dividend Yield
0%Recent Filings
8-K
Dave issues $200M convertibles
Dave Inc. closed $200M 0% convertible senior notes due 2031 on March 9, 2026, netting $192.1M after fees. It spent $17.3M on capped calls covering 0.7M shares to curb dilution and $70.5M repurchasing 0.3M shares at $210.67. Remaining proceeds fund general corporate uses, including more buybacks. Notes mature April 1, 2031.
8-K
Dave prices $175M convertibles
Dave Inc. priced $175M of 0% Convertible Senior Notes due 2031 on March 4, 2026, expecting to close March 9 with initial purchasers' $25M option. Proceeds fund $15.1M capped calls raising the effective conversion premium to 100%, repurchase 334,000 shares for $70.5M, and general corporate uses including more buybacks. Notes convert at $279.13/share, 32.5% above the $210.67 close. Capped calls curb dilution.
8-K
Dave launches $150M notes offering
Dave Inc. launched a $150 million private offering of Convertible Senior Notes due 2031 on March 3, 2026, with an option for $22.5 million more. Proceeds will fund capped calls to curb dilution, repurchase shares at closing price, and general purposes. Notes pay semi-annual interest from October 2026, mature April 1, 2031. Hedge activity may sway stock prices.
10-K
FY2025 results
Dave Inc. crushed FY2025 with revenues soaring 60% to $554M, fueled by ExtraCash originations jumping from $5.1B to $7.6B amid a simplified 5% fee structure that boosted processing fees 113% while tips cratered 89% post-elimination. Q4 momentum accelerated as Dave Debit Card spend hit $534M (up 17% y/y), subscription revenue grew 92% y/y after mid-year hikes, and CashAI v5.5 drove record approvals with lower delinquencies. Credit losses rose 67% to $91M on portfolio expansion yet stayed disciplined; net income exploded to $196M. Aggressive buybacks consumed $44M (274k shares); $75M debt matures 2026 with $123M liquidity. DOJ suit over ExtraCash disclosures threatens quarterly collections.
8-K
Q4 revenue up 62%, $300M buyback
Dave crushed Q4 and FY 2025 with revenue up 62% to $163.7M and 60% to $554.2M, net income soaring 292% to $66.0M and 238% to $195.9M, Adj. EBITDA jumping 118% to $72.9M and 162% to $226.7M. Board boosted share repurchases to $300M from $125M. Guidance eyes 25-28% revenue growth to $690-710M in 2026. Strong cash flow fuels buybacks.
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