Dave (DAVE) Financials

$227.61 -13.29 (-5.52%)

As of 03:46 PM Eastern

Annual Income Statements for Dave

This table shows Dave's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-20	-116	-49	58	196
Consolidated Net Income / (Loss)	-20	-129	-49	58	196
Net Income / (Loss) Continuing Operations	-20	-116	-49	58	196
Total Pre-Tax Income	-20	-129	-48	60	168
Total Operating Income	-47	-134	-42	35	187
Total Gross Profit	153	139	201	292	463
Total Revenue	153	205	259	347	554
Operating Revenue	153	205	259	347	554
Total Cost of Revenue	0.00	66	58	55	91
Other Cost of Revenue	-	66	58	55	91
Total Operating Expenses	200	273	301	312	277
Selling, General & Admin Expense	43	69	32	34	33
Marketing Expense	51	69	57	53	66
Other Operating Expenses / (Income)	105	135	155	171	177
Total Other Income / (Expense), net	27	18	-6.20	26	-19
Interest Expense	2.55	4.91	12	-25	7.04
Interest & Investment Income	0.29	2.95	5.30	2.98	1.60
Other Income / (Expense), net	29	20	0.28	-2.69	-13
Income Tax Expense	0.10	-0.07	0.12	2.48	-28
Basic Earnings per Share	($4.69)	($11.12)	($4.07)	$4.62	$14.65
Weighted Average Basic Shares Outstanding	4.27M	11.59M	11.93M	12.52M	13.37M
Diluted Earnings per Share	($4.69)	($11.12)	($4.07)	$4.19	$13.53
Weighted Average Diluted Shares Outstanding	4.27M	11.59M	11.93M	13.82M	14.48M
Weighted Average Basic & Diluted Shares Outstanding	6.24M	11.85M	12.24M	13.09M	13.56M

This table shows Dave's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-12	0.18	34	6.36	0.47	17	29	9.04	92	66	58
Consolidated Net Income / (Loss)	-12	0.18	34	6.36	0.47	17	29	9.04	92	66	58
Net Income / (Loss) Continuing Operations	-12	0.18	34	6.36	0.47	17	29	9.04	92	66	58
Total Pre-Tax Income	-12	0.28	37	4.58	0.84	17	34	12	58	64	70
Total Operating Income	-11	1.77	5.40	5.67	2.55	21	35	41	46	64	60
Total Gross Profit	50	59	64	66	79	84	97	106	121	138	132
Total Revenue	66	73	74	80	92	101	108	132	151	164	158
Operating Revenue	66	73	74	80	92	101	108	132	151	164	158
Total Cost of Revenue	16	15	9.94	14	14	17	11	25	30	25	27
Other Cost of Revenue	16	15	9.94	14	14	17	11	25	30	25	27
Total Operating Expenses	76	87	68	60	90	94	73	65	75	63	72
Selling, General & Admin Expense	16	16	17	6.15	13	17	6.29	6.20	11	-1.36	9.71
Marketing Expense	14	10	9.10	13	15	13	12	15	19	21	14
Other Operating Expenses / (Income)	30	31	32	41	48	33	44	44	45	54	48
Total Other Income / (Expense), net	-1.47	-1.50	32	-1.09	-1.71	-3.50	-1.28	-30	13	-0.27	11
Interest Expense	3.06	2.79	-31	1.97	1.96	1.84	1.76	1.78	1.79	1.72	1.73
Interest & Investment Income	1.33	1.29	1.50	0.54	0.44	0.51	0.43	0.59	0.29	0.28	0.82
Other Income / (Expense), net	0.26	0.01	-0.67	0.34	-0.19	-2.17	0.05	-28	14	1.16	11
Income Tax Expense	0.01	0.10	3.20	-1.78	0.37	0.69	5.06	2.47	-34	-1.72	12
Basic Earnings per Share	($1.01)	$0.01	$2.80	$0.51	$0.04	$1.34	$2.19	$0.68	$6.84	$4.94	$4.31
Weighted Average Basic Shares Outstanding	11.96M	11.93M	12.22M	12.42M	12.64M	12.52M	13.13M	13.36M	13.46M	13.37M	13.43M
Diluted Earnings per Share	($1.01)	$0.01	$2.60	$0.47	$0.03	$1.34	$1.97	$0.62	$6.34	$4.60	$4.02
Weighted Average Diluted Shares Outstanding	11.96M	11.93M	13.18M	13.54M	13.93M	13.82M	14.65M	14.55M	14.53M	14.48M	14.40M
Weighted Average Basic & Diluted Shares Outstanding	12.10M	12.24M	12.39M	12.67M	12.76M	13.09M	13.34M	13.50M	13.50M	13.56M	12.71M

This table details how cash moves in and out of Dave's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	27	-8.70	19	8.30	31
Net Cash From Operating Activities	-0.54	-45	34	125	290
Net Cash From Continuing Operating Activities	-0.57	-45	34	125	290
Net Income / (Loss) Continuing Operations	-20	-129	-49	58	196
Consolidated Net Income / (Loss)	-20	-129	-49	58	196
Depreciation Expense	3.06	7.13	5.54	7.68	7.13
Non-Cash Adjustments To Reconcile Net Income	8.22	86	88	61	134
Changes in Operating Assets and Liabilities, net	8.15	-9.10	-11	-1.84	-47
Net Cash From Investing Activities	-37	-286	-14	-46	-203
Net Cash From Continuing Investing Activities	-37	-286	-14	-46	-203
Purchase of Property, Plant & Equipment	-6.48	-9.31	-8.58	-7.56	-6.77
Purchase of Investments	-0.01	-520	-154	-171	-190
Sale and/or Maturity of Investments	9.44	358	212	244	190
Other Investing Activities, net	-40	-114	-63	-111	-196
Net Cash From Financing Activities	65	322	0.02	-71	-56
Net Cash From Continuing Financing Activities	65	322	0.02	-71	-56
Repayment of Debt	-3.91	-20	0.00	-72	0.00
Repurchase of Common Equity	-2.75	-24	0.00	0.00	-44
Other Financing Activities, net	1.71	225	0.02	1.27	-13
Cash Interest Paid	1.99	5.68	8.63	7.65	6.93

This table details how cash moves in and out of Dave's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-5.34	-1.72	14	-6.93	-14	15	-2.72	15	-12	31	53
Net Cash From Operating Activities	15	16	18	28	37	42	45	68	83	93	82
Net Cash From Continuing Operating Activities	15	16	18	28	37	42	45	68	83	93	82
Net Income / (Loss) Continuing Operations	-12	0.18	34	6.36	0.47	17	29	9.04	92	66	58
Consolidated Net Income / (Loss)	-12	0.18	34	6.36	0.47	17	29	9.04	92	66	58
Depreciation Expense	1.44	1.68	1.73	1.77	1.84	2.34	1.54	1.62	1.88	2.09	1.62
Non-Cash Adjustments To Reconcile Net Income	23	22	-17	22	27	29	18	62	23	31	22
Changes in Operating Assets and Liabilities, net	2.67	-7.90	-1.02	-1.80	7.38	-6.40	-3.22	-4.39	-34	-5.73	0.19
Net Cash From Investing Activities	-21	-17	66	-35	-51	-27	-28	-54	-70	-51	-10
Net Cash From Continuing Investing Activities	-21	-17	66	-35	-51	-27	-28	-54	-70	-51	-10
Purchase of Property, Plant & Equipment	-1.88	-2.04	-1.60	-2.31	-1.82	-1.83	-1.41	-1.86	-1.77	-1.74	-1.56
Purchase of Investments	-38	-28	-80	-28	-26	-36	-38	-71	-61	-20	-26
Sale and/or Maturity of Investments	40	41	149	33	26	36	37	71	60	21	24
Other Investing Activities, net	-21	-29	-1.57	-37	-48	-24	-26	-52	-68	-50	-6.68
Net Cash From Financing Activities	0.02	0.02	-70	-0.45	0.06	-0.13	-20	0.42	-25	-12	-19
Net Cash From Continuing Financing Activities	0.02	0.02	-70	-0.45	0.06	-0.13	-20	0.42	-25	-12	-19
Repurchase of Common Equity	-	-	0.00	-	-	-	-6.89	-	-25	-12	-187
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	193
Other Financing Activities, net	0.02	0.02	0.52	0.31	0.06	0.37	-13	0.42	0.03	0.01	-25
Cash Interest Paid	-	5.02	1.93	1.95	1.95	1.82	1.73	1.76	1.76	1.68	1.61

This table presents Dave's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	147	321	294	299	487
Total Current Assets	100	309	277	282	437
Cash & Equivalents	32	23	42	50	81
Short-Term Investments	8.23	169	114	41	41
Note & Lease Receivable	49	104	113	176	297
Prepaid Expenses	4.44	12	7.96	16	18
Plant, Property, & Equipment, net	0.69	1.03	1.12	0.70	0.47
Total Noncurrent Assets	46	12	16	16	50
Long-Term Investments	0.13	0.08	0.32	0.16	0.00
Noncurrent Note & Lease Receivables	2.70	0.74	0.77	0.51	0.20
Intangible Assets	7.85	10	13	14	14
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.00	34
Other Noncurrent Operating Assets	36	0.93	1.72	2.04	2.20
Total Liabilities & Shareholders' Equity	147	321	294	299	487
Total Liabilities	108	215	207	116	135
Total Current Liabilities	69	36	26	35	114
Short-Term Debt	36	0.00	-	0.00	75
Accounts Payable	13	11	5.49	6.77	8.36
Accrued Expenses	17	20	16	24	21
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	1.65
Other Current Liabilities	3.07	4.58	4.16	4.48	8.10
Total Noncurrent Liabilities	40	179	181	81	21
Long-Term Debt	35	177	180	75	0.00
Other Noncurrent Operating Liabilities	4.82	1.19	0.91	6.17	21
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	69	107	87	183	353
Total Preferred & Common Equity	39	107	87	183	353
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	69	107	87	183	353
Common Stock	87	270	297	335	353
Retained Earnings	-33	-162	-210	-152	43
Treasury Stock	-0.01	0.00	-	0.00	-44
Accumulated Other Comprehensive Income / (Loss)	0.00	-1.68	0.65	0.22	0.37

This table presents Dave's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	334	305	296	294	236	247	272	316	364	433	531
Total Current Assets	322	292	281	278	218	230	255	299	346	386	480
Cash & Equivalents	39	52	49	44	56	49	35	47	62	50	133
Short-Term Investments	185	143	128	126	44	40	40	41	41	42	43
Note & Lease Receivable	88	80	89	97	105	128	166	195	226	268	279
Prepaid Expenses	10	16	14	11	13	14	14	16	18	26	25
Plant, Property, & Equipment, net	0.91	1.25	1.38	1.27	1.00	0.91	0.81	0.62	0.59	0.52	0.43
Total Noncurrent Assets	11	13	14	15	16	17	17	16	17	47	50
Long-Term Investments	0.09	0.06	0.04	0.36	0.28	0.24	0.20	0.12	0.08	0.04	0.00
Noncurrent Note & Lease Receivables	0.80	0.67	-	0.54	0.71	0.65	0.58	0.43	0.36	0.28	0.42
Intangible Assets	9.43	11	12	13	13	14	14	14	14	14	14
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	-	30	34
Other Noncurrent Operating Assets	0.70	0.79	1.40	1.19	1.95	1.96	1.96	2.04	2.23	2.23	2.20
Total Liabilities & Shareholders' Equity	334	305	296	294	236	247	272	316	364	433	531
Total Liabilities	211	205	212	215	108	105	116	116	146	142	327
Total Current Liabilities	63	26	32	35	29	26	37	35	36	44	124
Short-Term Debt	20	-	-	-	-	-	-	-	-	-	75
Accounts Payable	15	4.56	6.27	9.09	9.01	9.32	8.84	6.32	7.73	7.84	6.73
Accrued Expenses	26	17	22	22	16	12	24	24	24	31	21
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	-	12
Other Current Liabilities	2.82	4.45	4.20	3.95	4.47	4.70	4.29	4.36	4.25	5.13	9.67
Total Noncurrent Liabilities	148	179	180	180	79	79	79	81	110	98	202
Long-Term Debt	147	178	179	180	75	75	75	75	75	75	193
Other Noncurrent Operating Liabilities	1.22	0.61	1.05	0.73	4.04	3.95	4.01	6.42	35	23	9.62
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	410	102	84	79	127	142	156	199	217	291	204
Total Preferred & Common Equity	123	100	84	79	127	142	156	199	217	291	204
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	410	102	84	79	127	142	156	199	217	291	204
Common Stock	267	277	283	290	303	311	325	330	339	346	334
Retained Earnings	140	-176	-198	-210	-176	-170	-169	-124	-115	-23	101
Treasury Stock	0.00	-	-	-	-	-	-	-6.96	-6.96	-32	-232
Accumulated Other Comprehensive Income / (Loss)	3.03	0.89	-0.87	-0.51	0.00	0.08	0.25	0.23	0.10	0.28	0.30

This table displays calculated financial ratios and metrics derived from Dave's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	13,504,082.00
DEI Adjusted Shares Outstanding	-	-	-	-	13,504,082.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	14.50
Growth Metrics	-	-	-	-	-
Profitability Metrics	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-33	-94	-30	33	218
Return On Investment Capital (ROIC_SIMPLE)	-	-	-11.04%	12.86%	50.86%
Earnings before Interest and Taxes (EBIT)	-18	-114	-42	32	173
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-15	-107	-36	40	181
Valuation Ratios	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-117	-49	-23	79
Efficiency Ratios	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	69	92	111	168	306
Increase / (Decrease) in Invested Capital	0.00	23	19	56	139
Book Value per Share	$2.18	$0.28	$7.19	$14.35	$26.12
Tangible Book Value per Share	$1.93	$0.25	$6.10	$13.28	$25.11
Total Capital	140	284	268	258	428
Total Debt	71	177	180	75	75
Total Long-Term Debt	35	177	180	75	0.00
Net Debt	30	-15	24	-15	-46
Capital Expenditures (CapEx)	6.48	9.31	8.58	7.56	6.77
Debt-free, Cash-free Net Working Capital (DFCFNWC)	27	80	95	157	276
Debt-free Net Working Capital (DFNWC)	67	272	251	247	398
Net Working Capital (NWC)	32	272	251	247	323
Net Nonoperating Expense (NNE)	-13	35	19	-25	22
Net Nonoperating Obligations (NNO)	0.02	-15	24	-15	-46
Total Depreciation and Amortization (D&A)	3.06	7.13	5.54	7.68	7.13
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	($12.16)	($11.12)	($4.07)	$4.62	$14.65
Adjusted Weighted Average Basic Shares Outstanding	11.63M	11.59M	11.93M	12.52M	13.37M
Adjusted Diluted Earnings per Share	($12.16)	($11.12)	($4.07)	$4.19	$13.53
Adjusted Weighted Average Diluted Shares Outstanding	11.63M	11.59M	11.93M	13.82M	14.48M
Adjusted Basic & Diluted Earnings per Share	($12.16)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	875.84K	11.85M	12.24M	13.09M	13.56M
Normalized Net Operating Profit after Tax (NOPAT)	-33	-94	-30	33	131
Debt Service Ratios	-	-	-	-	-
Payout Ratios	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Dave's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	13,504,082.00	13,559,598.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	13,504,082.00	13,559,598.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	4.88	4.27
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.85%	22.53%	24.95%	30.84%	40.54%	37.91%	46.65%	64.46%	62.97%	-	46.71%
EBITDA Growth	70.44%	117.90%	158.14%	139.15%	147.34%	511.35%	468.61%	84.26%	1,370.52%	-	97.89%
EBIT Growth	68.30%	108.51%	138.39%	128.50%	122.91%	956.88%	644.71%	111.48%	2,434.90%	-	101.92%
NOPAT Growth	72.12%	107.93%	156.51%	153.80%	119.13%	1,647.61%	505.64%	309.71%	5,006.48%	-	64.50%
Net Income Growth	64.36%	100.51%	344.16%	128.11%	103.87%	9,288.83%	-15.86%	42.18%	19,657.94%	-	101.08%
EPS Growth	75.12%	100.51%	318.49%	124.74%	102.97%	13,300.00%	-24.23%	31.91%	21,033.33%	-	104.06%
Operating Cash Flow Growth	207.36%	496.88%	364.74%	189.71%	140.95%	166.83%	146.66%	143.30%	124.80%	-	81.28%
Free Cash Flow Firm Growth	-123.48%	51.24%	80.84%	6.69%	-115.29%	-99.07%	-290.14%	19.40%	28.75%	-	-11.21%
Invested Capital Growth	34.92%	21.05%	22.54%	50.54%	75.26%	50.68%	82.16%	47.24%	76.43%	-	58.72%
Revenue Q/Q Growth	7.47%	11.10%	0.70%	8.81%	15.44%	9.03%	7.08%	22.02%	14.40%	-	-3.24%
EBITDA Q/Q Growth	55.27%	139.00%	86.60%	20.28%	-45.91%	403.57%	73.55%	-61.02%	331.70%	-	7.29%
EBIT Q/Q Growth	51.02%	117.26%	165.36%	27.04%	-60.63%	696.24%	86.98%	-63.92%	371.96%	-	8.24%
NOPAT Q/Q Growth	49.45%	115.59%	327.81%	59.54%	-82.02%	1,324.00%	48.26%	7.93%	124.11%	-	-25.72%
Net Income Q/Q Growth	46.71%	101.49%	19,030.17%	-81.43%	-92.67%	3,506.44%	71.44%	-68.62%	918.50%	-	-12.14%
EPS Q/Q Growth	46.84%	100.99%	25,900.00%	-81.92%	-93.62%	4,366.67%	47.01%	-68.53%	922.58%	-	-12.61%
Operating Cash Flow Q/Q Growth	58.75%	1.72%	17.34%	52.89%	32.04%	12.64%	8.47%	50.81%	22.00%	-	-12.08%
Free Cash Flow Firm Q/Q Growth	19.58%	40.11%	23.78%	-154.16%	-85.54%	44.62%	-49.39%	47.49%	-64.03%	-	17.05%
Invested Capital Q/Q Growth	4.05%	25.31%	-8.10%	25.63%	21.14%	7.74%	11.10%	1.54%	45.15%	-	-3.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	75.71%	80.14%	86.50%	82.07%	85.21%	83.50%	90.18%	80.80%	80.20%	-	83.22%
EBITDA Margin	-13.49%	4.73%	8.77%	9.70%	4.54%	20.99%	34.02%	10.87%	41.01%	-	45.89%
Operating Margin	-16.07%	2.42%	7.33%	7.08%	2.76%	20.82%	32.55%	31.18%	30.45%	-	37.60%
EBIT Margin	-15.68%	2.44%	6.42%	7.49%	2.56%	18.67%	32.59%	9.64%	39.76%	-	44.86%
Profit (Net Income) Margin	-18.31%	0.24%	46.51%	7.94%	0.50%	16.67%	26.68%	6.86%	61.09%	-	36.57%
Tax Burden Percent	100.07%	65.09%	91.45%	138.94%	55.54%	96.07%	85.07%	78.55%	157.58%	-	82.58%
Interest Burden Percent	116.72%	15.44%	792.34%	76.22%	35.49%	92.93%	96.23%	90.64%	97.51%	-	98.73%
Effective Tax Rate	0.00%	34.91%	8.55%	-38.94%	44.46%	3.93%	14.93%	21.45%	-57.58%	-	17.42%
Return on Invested Capital (ROIC)	-35.74%	4.03%	19.77%	26.92%	4.00%	49.78%	73.22%	66.80%	109.61%	-	77.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-32.96%	-16.41%	-115.02%	52.04%	-16.21%	-27.12%	78.92%	179.48%	-123.04%	-	100.16%
Return on Net Nonoperating Assets (RNNOA)	22.54%	-0.81%	21.82%	-2.79%	-0.65%	-0.88%	-9.24%	-20.62%	4.67%	-	19.54%
Return on Equity (ROE)	-13.20%	3.22%	41.60%	24.13%	3.35%	48.90%	63.98%	46.17%	114.28%	-	97.45%
Cash Return on Invested Capital (CROIC)	-88.37%	-48.13%	-18.13%	-38.33%	-42.64%	-16.64%	-17.03%	16.15%	25.20%	-	51.06%
Operating Return on Assets (OROA)	-12.25%	2.05%	6.50%	8.08%	2.88%	21.84%	45.11%	13.67%	55.37%	-	64.11%
Return on Assets (ROA)	-14.31%	0.21%	47.07%	8.55%	0.57%	19.50%	36.93%	9.73%	85.08%	-	52.26%
Return on Common Equity (ROCE)	-13.20%	3.22%	41.60%	24.13%	3.35%	48.90%	63.98%	46.17%	114.28%	-	97.45%
Return on Equity Simple (ROE_SIMPLE)	-105.93%	0.00%	-0.20%	20.27%	26.47%	0.00%	26.29%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-7.40	1.15	4.94	7.88	1.42	20	30	32	72	66	49
NOPAT Margin	-11.25%	1.58%	6.71%	9.83%	1.53%	20.00%	27.69%	24.49%	47.98%	-	31.05%
Net Nonoperating Expense Percent (NNEP)	-2.78%	20.43%	134.79%	-25.12%	20.21%	76.90%	-5.70%	-112.68%	232.65%	-	-22.25%
Return On Investment Capital (ROIC_SIMPLE)	-	0.43%	2.44%	-	-	7.81%	10.89%	11.05%	19.74%	15.48%	10.43%
Cost of Revenue to Revenue	24.29%	19.86%	13.50%	17.93%	14.79%	16.50%	9.82%	19.20%	19.80%	-	16.78%
SG&A Expenses to Revenue	24.83%	21.55%	22.97%	21.26%	26.40%	17.02%	16.02%	4.71%	7.47%	-	6.13%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	116.07%	119.35%	92.67%	74.99%	97.24%	93.43%	67.45%	49.62%	49.75%	-	45.62%
Earnings before Interest and Taxes (EBIT)	-10	1.78	4.73	6.00	2.36	19	35	13	60	66	71
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-8.88	3.46	6.46	7.77	4.20	21	37	14	62	68	73
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.94	1.17	3.57	2.65	3.25	6.06	5.43	16.50	9.24	-	11.58
Price to Tangible Book Value (P/TBV)	1.12	1.37	3.99	2.94	3.57	6.54	5.83	17.63	9.70	-	12.42
Price to Revenue (P/Rev)	0.30	0.39	1.66	1.28	1.59	3.19	2.84	8.27	5.48	-	3.90
Price to Earnings (P/E)	0.00	0.00	0.00	13.06	12.27	19.16	20.64	64.96	18.34	-	10.49
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings Yield	0.00%	0.00%	0.00%	7.65%	8.15%	5.22%	4.85%	1.54%	5.45%	-	9.53%
Enterprise Value to Invested Capital (EV/IC)	0.94	1.13	4.20	2.82	3.25	6.52	5.74	18.78	9.74	-	8.30
Enterprise Value to Revenue (EV/Rev)	0.34	0.49	1.57	1.24	1.58	3.15	2.80	8.20	5.44	-	4.06
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	41.06	23.11	27.61	15.30	46.49	19.95	-	11.32
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	165.08	34.01	34.26	17.14	51.43	21.12	-	11.71
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	217.39	168.10	34.38	32.95	17.98	41.15	15.45	-	10.55
Enterprise Value to Operating Cash Flow (EV/OCF)	5.91	3.72	7.27	4.68	5.11	8.74	7.03	18.48	11.22	-	7.50
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	138.53	49.34	-	19.93
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.27	2.07	0.59	0.53	0.48	0.41	0.38	0.35	0.26	-	1.31
Long-Term Debt to Equity	2.27	2.07	0.59	0.53	0.48	0.41	0.38	0.35	0.26	-	0.95
Financial Leverage	-0.68	0.05	-0.19	-0.05	0.04	0.03	-0.12	-0.11	-0.04	-	0.20
Leverage Ratio	1.29	3.18	2.36	2.40	2.41	2.20	1.69	1.70	1.58	-	2.10
Compound Leverage Factor	1.50	0.49	18.71	1.83	0.86	2.04	1.62	1.54	1.54	-	2.07
Debt to Total Capital	69.41%	67.45%	37.07%	34.60%	32.49%	29.06%	27.33%	25.68%	20.47%	-	56.79%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	15.90%
Long-Term Debt to Total Capital	69.41%	67.45%	37.07%	34.60%	32.49%	29.06%	27.33%	25.68%	20.47%	-	40.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Common Equity to Total Capital	30.59%	32.55%	62.93%	65.40%	67.51%	70.94%	72.67%	74.32%	79.53%	-	43.21%
Debt to EBITDA	-3.04	-4.96	-3.99	8.51	3.43	1.89	1.07	0.98	0.56	-	1.24
Net Debt to EBITDA	-0.16	-0.67	1.34	-1.53	-0.02	-0.39	-0.19	-0.37	-0.13	-	0.42
Long-Term Debt to EBITDA	-3.04	-4.96	-3.99	8.51	3.43	1.89	1.07	0.98	0.56	-	0.89
Debt to NOPAT	-3.96	-6.11	37.97	34.84	5.10	2.26	1.26	0.87	0.43	-	1.15
Net Debt to NOPAT	-0.21	-0.82	-12.76	-6.25	-0.02	-0.47	-0.22	-0.32	-0.10	-	0.40
Long-Term Debt to NOPAT	-3.96	-6.11	37.97	34.84	5.10	2.26	1.26	0.87	0.43	-	0.83
Altman Z-Score	0.92	1.22	3.66	3.43	3.90	7.37	7.62	16.55	13.84	-	6.99
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	7.98	10.81	7.47	8.67	6.81	8.05	8.59	9.51	8.69	-	3.86
Quick Ratio	7.65	10.50	7.00	8.16	6.43	7.59	8.13	9.02	8.11	-	3.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-30	-18	-14	-35	-65	-36	-54	-28	-47	-73	-60
Operating Cash Flow to CapEx	815.76%	767.45%	1,143.64%	1,214.16%	2,034.73%	2,281.95%	3,215.85%	3,672.61%	4,713.87%	-	5,254.71%
Free Cash Flow to Firm to Interest Expense	-9.94	-6.52	0.00	-17.94	-33.30	-19.65	-30.78	-15.99	-26.05	-	-34.81
Operating Cash Flow to Interest Expense	5.03	5.60	0.00	14.27	18.86	22.63	25.74	38.40	46.53	-	47.44
Operating Cash Flow Less CapEx to Interest Expense	4.41	4.87	0.00	13.10	17.93	21.64	24.94	37.35	45.55	-	46.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.84	1.01	1.08	1.13	1.17	1.38	1.42	1.39	-	1.43
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Fixed Asset Turnover	225.37	241.69	243.92	255.39	307.66	380.98	472.06	576.65	739.91	-	1,152.75
Accounts Payable Turnover	5.40	6.91	8.31	7.03	5.86	8.92	7.21	7.77	9.88	-	16.40
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Days Payable Outstanding (DPO)	67.57	52.83	43.93	51.89	62.32	40.93	50.62	46.99	36.95	-	22.26
Cash Conversion Cycle (CCC)	-67.57	-52.83	-43.93	-51.89	-62.32	-40.93	-50.62	-46.99	-36.95	-	-22.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	89	111	102	128	156	168	186	189	275	306	296
Invested Capital Turnover	3.18	2.55	2.95	2.74	2.61	2.49	2.64	2.73	2.28	-	2.51
Increase / (Decrease) in Invested Capital	23	19	19	43	67	56	84	61	119	139	109
Enterprise Value (EV)	84	126	429	362	506	1,093	1,069	3,553	2,674	-	2,452
Market Capitalization	74	101	455	375	506	1,109	1,082	3,581	2,691	-	2,361
Book Value per Share	$6.61	$7.19	$10.40	$11.44	$12.30	$14.35	$15.23	$16.27	$21.58	$26.12	$15.03
Tangible Book Value per Share	$5.55	$6.10	$9.31	$10.32	$11.19	$13.28	$14.19	$15.23	$20.55	$25.11	$14.02
Total Capital	259	268	202	217	231	258	274	292	366	428	472
Total Debt	180	180	75	75	75	75	75	75	75	75	268
Total Long-Term Debt	180	180	75	75	75	75	75	75	75	0.00	193
Net Debt	9.47	24	-25	-13	-0.36	-15	-13	-28	-17	-46	92
Capital Expenditures (CapEx)	1.88	2.04	1.60	2.31	1.82	1.83	1.41	1.86	1.77	1.74	1.56
Debt-free, Cash-free Net Working Capital (DFCFNWC)	74	95	89	115	142	157	176	207	250	276	254
Debt-free Net Working Capital (DFNWC)	243	251	189	203	217	247	264	310	342	398	430
Net Working Capital (NWC)	243	251	189	203	217	247	264	310	342	323	355
Net Nonoperating Expense (NNE)	4.65	0.98	-29	1.52	0.95	3.36	1.09	23	-20	0.28	-8.75
Net Nonoperating Obligations (NNO)	9.61	24	-25	-13	-0.20	-15	-13	-28	-17	-46	92
Total Depreciation and Amortization (D&A)	1.44	1.68	1.73	1.77	1.84	2.34	1.54	1.62	1.88	2.09	1.62
Debt-free, Cash-free Net Working Capital to Revenue	29.99%	36.80%	32.57%	39.24%	44.50%	45.21%	46.12%	47.82%	50.85%	-	42.07%
Debt-free Net Working Capital to Revenue	99.12%	96.99%	69.06%	69.38%	68.03%	71.23%	69.22%	71.57%	69.53%	-	71.17%
Net Working Capital to Revenue	99.12%	96.99%	69.06%	69.38%	68.03%	71.23%	69.22%	71.57%	69.53%	-	58.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.01)	$0.01	$2.80	$0.51	$0.04	$1.34	$2.19	$0.68	$6.84	$4.94	$4.31
Adjusted Weighted Average Basic Shares Outstanding	11.96M	11.93M	12.22M	12.42M	12.64M	12.52M	13.13M	13.36M	13.46M	13.37M	13.43M
Adjusted Diluted Earnings per Share	($1.01)	$0.01	$2.60	$0.47	$0.03	$1.34	$1.97	$0.62	$6.34	$4.60	$4.02
Adjusted Weighted Average Diluted Shares Outstanding	11.96M	11.93M	13.18M	13.54M	13.93M	13.82M	14.65M	14.55M	14.53M	14.48M	14.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.01	$0.00	$0.00	$0.00	$1.34	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	12.10M	12.24M	12.39M	12.67M	12.76M	13.09M	13.34M	13.50M	13.50M	13.56M	12.71M
Normalized Net Operating Profit after Tax (NOPAT)	-7.40	1.15	4.94	3.97	1.42	20	30	32	32	45	49
Normalized NOPAT Margin	-11.25%	1.58%	6.71%	4.95%	1.53%	20.00%	27.69%	24.49%	21.32%	-	31.05%
Pre Tax Income Margin	-18.30%	0.38%	50.86%	5.71%	0.91%	17.35%	31.37%	8.73%	38.77%	-	44.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-3.38	0.64	0.00	3.06	1.20	10.21	20.02	7.15	33.50	-	41.10
NOPAT to Interest Expense	-2.42	0.41	0.00	4.01	0.72	10.94	17.01	18.16	40.43	-	28.45
EBIT Less CapEx to Interest Expense	-3.99	-0.09	0.00	1.88	0.28	9.22	19.22	6.10	32.51	-	40.20
NOPAT Less CapEx to Interest Expense	-3.04	-0.32	0.00	2.83	-0.21	9.95	16.21	17.12	39.44	-	27.55
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	99.37%

Financials Breakdown Chart

Key Financial Trends

Here are the key four-year trends for Dave Inc. (DAVE) based on the provided quarterly statements. The bullets highlight the most relevant points for retail investors.

Q4 2025 shows strong profitability from continuing operations: net income of $65,940,000, basic EPS of $4.94 and diluted EPS of $4.60, suggesting solid quarterly earnings power.
Q4 2025 gross margin remained healthy with Total Gross Profit of $138,425,000 on Total Revenue of $163,721,000 (roughly 84.6% gross margin), indicating strong product profitability in the quarter.
Cash generation from operations was robust in Q4 2025: Net Cash From Continuing Operating Activities about $93.29M, contributing to a positive quarterly change in cash of $30.63M.
Equity base expanded in 2025: Total Common Equity rose from about $217.1M in mid-2025 to roughly $291.3M by Q3 2025 and stayed near that level into Q4 2025, supported by strong earnings.
Revenue momentum improved in Q4 2025: Operating Revenue of $163.7M vs. Q4 2024 revenue of about $100.8M, indicating meaningful top-line growth year over year.
Investing activity remains a key use of cash: Net Cash From Investing Activities was negative ($50.8M in Q4 2025 and about $70.1M in Q3 2025), reflecting ongoing capital deployment.
Debt levels are stable: Long-Term Debt sits at $75.0M across 2025 quarters, suggesting a flat leverage profile through the period.
Non-cash adjustments to net income were sizable in some periods (e.g., about $30.99M in Q4 2025), which can blur quarterly profit trends and complicate interpretation of “clean” earnings.
Financing activities showed negative cash flows in multiple quarters (for example, around -$11.8M in Q4 2025 and similar in Q3 2025), indicating ongoing share repurchases or debt-related movements that could pressure near-term liquidity.

05/22/26 02:26 PM ETAI Generated. May Contain Errors.

Dave Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Dave's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Dave's net income appears to be on an upward trend, with a most recent value of $195.87 million in 2025, falling from -$19.99 million in 2021. The previous period was $57.87 million in 2024. See Dave's forecast for analyst expectations on what's next for the company.

Dave's total operating income in 2025 was $186.62 million, based on the following breakdown:

Total Gross Profit: $463.14 million
Total Operating Expenses: $276.52 million

Over the last 4 years, Dave's total revenue changed from $153.01 million in 2021 to $554.18 million in 2025, a change of 262.2%.

Dave's total liabilities were at $134.69 million at the end of 2025, a 15.9% increase from 2024, and a 24.2% increase since 2021.

In the past 4 years, Dave's cash and equivalents has ranged from $22.89 million in 2022 to $80.52 million in 2025, and is currently $80.52 million as of their latest financial filing in 2025.

Over the last 4 years, Dave's book value per share changed from 2.18 in 2021 to 26.12 in 2025, a change of 1,098.7%.

Related Companies

Financial statements for NASDAQ:DAVE last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Dave (DAVE) Financials

Financials Breakdown Chart

Key Financial Trends

Dave Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Dave (DAVE) Financials

Annual Income Statements for Dave

Quarterly Income Statements for Dave

Annual Cash Flow Statements for Dave

Quarterly Cash Flow Statements for Dave

Annual Balance Sheets for Dave

Quarterly Balance Sheets for Dave

Annual Metrics And Ratios for Dave

Quarterly Metrics And Ratios for Dave

Financials Breakdown Chart

Key Financial Trends

Dave Financials - Frequently Asked Questions

When does Dave's fiscal year end?

How has Dave's net income changed over the last 4 years?

What is Dave's operating income?

How has Dave's revenue changed over the last 4 years?

How much debt does Dave have?

How much cash does Dave have?

How has Dave's book value per share changed over the last 4 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools