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Dave (DAVE) Financials

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$308.78 -0.04 (-0.01%)
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Annual Income Statements for Dave

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

Quarterly Income Statements for Dave

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.18 34 6.36 0.47 17 29 9.04 92 66 58 6.69
Consolidated Net Income / (Loss)		 0.18 34 6.36 0.47 17 29 9.04 92 66 58 6.69
Net Income / (Loss) Continuing Operations		 0.18 34 6.36 0.47 17 29 9.04 92 66 58 6.69
Total Pre-Tax Income 		0.28 37 4.58 0.84 17 34 12 58 64 70 15
Total Operating Income		 1.77 5.40 5.67 2.55 21 35 41 46 64 60 52
Total Gross Profit		 59 64 66 79 84 97 106 121 138 132 142
Total Revenue		 73 74 80 92 101 108 132 151 164 158 171
Operating Revenue		 73 74 80 92 101 108 132 151 164 158 171
Total Cost of Revenue		 15 9.94 14 14 17 11 25 30 25 27 29
Other Cost of Revenue		 15 9.94 14 14 17 11 25 30 25 27 29
Total Operating Expenses		 87 68 60 90 94 73 65 75 63 72 119
Selling, General & Admin Expense		 16 17 6.15 13 17 6.29 6.20 11 -1.36 9.71 12
Marketing Expense		 10 9.10 13 15 13 12 15 19 21 14 20
Other Operating Expenses / (Income)		 31 32 41 48 33 44 44 45 54 48 58
Total Other Income / (Expense), net		 -1.50 32 -1.09 -1.71 -3.50 -1.28 -30 13 -0.27 11 -38
Interest Expense		 2.79 -31 1.97 1.96 1.84 1.76 1.78 1.79 1.72 1.73 2.02
Interest & Investment Income		 1.29 1.50 0.54 0.44 0.51 0.43 0.59 0.29 0.28 0.82 1.33
Other Income / (Expense), net		 0.01 -0.67 0.34 -0.19 -2.17 0.05 -28 14 1.16 11 -37
Income Tax Expense		 0.10 3.20 -1.78 0.37 0.69 5.06 2.47 -34 -1.72 12 7.98
Basic Earnings per Share		 $0.01 $2.80 $0.51 $0.04 $1.34 $2.19 $0.68 $6.84 $4.94 $4.31 $0.53
Weighted Average Basic Shares Outstanding		 11.93M 12.22M 12.42M 12.64M 12.52M 13.13M 13.36M 13.46M 13.37M 13.43M 12.72M
Diluted Earnings per Share		 $0.01 $2.60 $0.47 $0.03 $1.34 $1.97 $0.62 $6.34 $4.60 $4.02 $0.49
Weighted Average Diluted Shares Outstanding		 11.93M 13.18M 13.54M 13.93M 13.82M 14.65M 14.55M 14.53M 14.48M 14.40M 13.68M
Weighted Average Basic & Diluted Shares Outstanding		 12.24M 12.39M 12.67M 12.76M 13.09M 13.34M 13.50M 13.50M 13.56M 12.71M 12.76M

Annual Cash Flow Statements for Dave

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

Quarterly Cash Flow Statements for Dave

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 -1.72 14 -6.93 -14 15 -2.72 15 -12 31 53 76
Net Cash From Operating Activities		 16 18 28 37 42 45 68 83 93 82 68
Net Cash From Continuing Operating Activities		 16 18 28 37 42 45 68 83 93 82 68
Net Income / (Loss) Continuing Operations		 0.18 34 6.36 0.47 17 29 9.04 92 66 58 6.69
Consolidated Net Income / (Loss)		 0.18 34 6.36 0.47 17 29 9.04 92 66 58 6.69
Depreciation Expense		 1.68 1.73 1.77 1.84 2.34 1.54 1.62 1.88 2.09 1.62 2.05
Non-Cash Adjustments To Reconcile Net Income		 22 -17 22 27 29 18 62 23 31 22 82
Changes in Operating Assets and Liabilities, net		 -7.90 -1.02 -1.80 7.38 -6.40 -3.22 -4.39 -34 -5.73 0.19 -23
Net Cash From Investing Activities		 -17 66 -35 -51 -27 -28 -54 -70 -51 -10 27
Net Cash From Continuing Investing Activities		 -17 66 -35 -51 -27 -28 -54 -70 -51 -10 27
Purchase of Property, Plant & Equipment		 -2.04 -1.60 -2.31 -1.82 -1.83 -1.41 -1.86 -1.77 -1.74 -1.56 -2.68
Purchase of Investments		 -28 -80 -28 -26 -36 -38 -71 -61 -20 -26 -21
Sale and/or Maturity of Investments		 41 149 33 26 36 37 71 60 21 24 21
Other Investing Activities, net		 -29 -1.57 -37 -48 -24 -26 -52 -68 -50 -6.68 30
Net Cash From Financing Activities		 0.02 -70 -0.45 0.06 -0.13 -20 0.42 -25 -12 -19 -20
Net Cash From Continuing Financing Activities		 0.02 -70 -0.45 0.06 -0.13 -20 0.42 -25 -12 -19 -20
Repurchase of Common Equity		 - 0.00 - - - -6.89 - -25 -12 -187 -19
Issuance of Debt		 - - - - - 0.00 - - - 193 -0.38
Other Financing Activities, net		 0.02 0.52 0.31 0.06 0.37 -13 0.42 0.03 0.01 -25 0.00
Cash Interest Paid		 5.02 1.93 1.95 1.95 1.82 1.73 1.76 1.76 1.68 1.61 1.64

Annual Balance Sheets for Dave

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
Current Deferred & Refundable Income Taxes		 1.38 0.83 0.15 - 0.00
Plant, Property, & Equipment, net		 0.69 1.03 1.12 0.70 0.47
Total Noncurrent Assets		 46 12 16 16 50
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

Quarterly Balance Sheets for Dave

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
Total Assets		 305 296 294 236 247 272 316 364 433 531 571
Total Current Assets		 292 281 278 218 230 255 299 346 386 480 519
Cash & Equivalents		 52 49 44 56 49 35 47 62 50 133 210
Short-Term Investments		 143 128 126 44 40 40 41 41 42 43 43
Note & Lease Receivable		 80 89 97 105 128 166 195 226 268 279 232
Prepaid Expenses		 16 14 11 13 14 14 16 18 26 25 24
Current Deferred & Refundable Income Taxes		 0.82 0.82 0.81 0.00 0.00 0.00 - - - - 11
Plant, Property, & Equipment, net		 1.25 1.38 1.27 1.00 0.91 0.81 0.62 0.59 0.52 0.43 0.49
Total Noncurrent Assets		 13 14 15 16 17 17 16 17 47 50 51
Noncurrent Note & Lease Receivables		 0.67 - 0.54 0.71 0.65 0.58 0.43 0.36 0.28 0.42 0.32
Intangible Assets		 11 12 13 13 14 14 14 14 14 14 14
Noncurrent Deferred & Refundable Income Taxes		 - - - - - - - - 30 34 34
Other Noncurrent Operating Assets		 0.79 1.40 1.19 1.95 1.96 1.96 2.04 2.23 2.23 2.20 2.21
Total Liabilities & Shareholders' Equity		 305 296 294 236 247 272 316 364 433 531 571
Total Liabilities		 205 212 215 108 105 116 116 146 142 327 363
Total Current Liabilities		 26 32 35 29 26 37 35 36 44 124 123
Short-Term Debt		 - - - - - - - - - 75 75
Accounts Payable		 4.56 6.27 9.09 9.01 9.32 8.84 6.32 7.73 7.84 6.73 6.96
Accrued Expenses		 17 22 22 16 12 24 24 24 31 21 27
Current Deferred & Payable Income Tax Liabilities		 - - - - - - - - - 12 0.00
Other Current Liabilities		 4.45 4.20 3.95 4.47 4.70 4.29 4.36 4.25 5.13 9.67 14
Total Noncurrent Liabilities		 179 180 180 79 79 79 81 110 98 202 240
Long-Term Debt		 178 179 180 75 75 75 75 75 75 193 193
Other Noncurrent Operating Liabilities		 0.61 1.05 0.73 4.04 3.95 4.01 6.42 35 23 9.62 47
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		 102 84 79 127 142 156 199 217 291 204 208
Total Preferred & Common Equity		 100 84 79 127 142 156 199 217 291 204 208
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		 102 84 79 127 142 156 199 217 291 204 208
Common Stock		 277 283 290 303 311 325 330 339 346 334 351
Retained Earnings		 -176 -198 -210 -176 -170 -169 -124 -115 -23 101 108
Treasury Stock		 - - - - - - -6.96 -6.96 -32 -232 -251
Accumulated Other Comprehensive Income / (Loss)		 0.89 -0.87 -0.51 0.00 0.08 0.25 0.23 0.10 0.28 0.30 0.32

Annual Metrics And Ratios for Dave

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		 - - - - -

Quarterly Metrics And Ratios for Dave

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 13,504,082.00 13,559,598.00 12,714,247.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 13,504,082.00 13,559,598.00 12,714,247.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 4.88 4.27 0.53
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 22.53% 24.95% 30.84% 40.54% 37.91% 46.65% 64.46% 62.97% - 46.71% 29.63%
EBITDA Growth		 117.90% 158.14% 139.15% 147.34% 511.35% 468.61% 84.26% 1,370.52% - 97.89% 21.64%
EBIT Growth		 108.51% 138.39% 128.50% 122.91% 956.88% 644.71% 111.48% 2,434.90% - 101.92% 21.00%
NOPAT Growth		 107.93% 156.51% 153.80% 119.13% 1,647.61% 505.64% 309.71% 5,006.48% - 64.50% -26.22%
Net Income Growth		 100.51% 344.16% 128.11% 103.87% 9,288.83% -15.86% 42.18% 19,657.94% - 101.08% -26.03%
EPS Growth		 100.51% 318.49% 124.74% 102.97% 13,300.00% -24.23% 31.91% 21,033.33% - 104.06% -20.97%
Operating Cash Flow Growth		 496.88% 364.74% 189.71% 140.95% 166.83% 146.66% 143.30% 124.80% - 81.28% 0.21%
Free Cash Flow Firm Growth		 51.24% 80.84% 6.69% -115.29% -99.07% -290.14% 19.40% 28.75% - -11.21% 63.12%
Invested Capital Growth		 21.05% 22.54% 50.54% 75.26% 50.68% 82.16% 47.24% 76.43% - 58.72% 18.13%
Revenue Q/Q Growth		 11.10% 0.70% 8.81% 15.44% 9.03% 7.08% 22.02% 14.40% - -3.24% 7.81%
EBITDA Q/Q Growth		 139.00% 86.60% 20.28% -45.91% 403.57% 73.55% -61.02% 331.70% - 7.29% -76.04%
EBIT Q/Q Growth		 117.26% 165.36% 27.04% -60.63% 696.24% 86.98% -63.92% 371.96% - 8.24% -78.38%
NOPAT Q/Q Growth		 115.59% 327.81% 59.54% -82.02% 1,324.00% 48.26% 7.93% 124.11% - -25.72% -51.59%
Net Income Q/Q Growth		 101.49% 19,030.17% -81.43% -92.67% 3,506.44% 71.44% -68.62% 918.50% - -12.14% -88.46%
EPS Q/Q Growth		 100.99% 25,900.00% -81.92% -93.62% 4,366.67% 47.01% -68.53% 922.58% - -12.61% -87.81%
Operating Cash Flow Q/Q Growth		 1.72% 17.34% 52.89% 32.04% 12.64% 8.47% 50.81% 22.00% - -12.08% -16.64%
Free Cash Flow Firm Q/Q Growth		 40.11% 23.78% -154.16% -85.54% 44.62% -49.39% 47.49% -64.03% - 17.05% 82.59%
Invested Capital Q/Q Growth		 25.31% -8.10% 25.63% 21.14% 7.74% 11.10% 1.54% 45.15% - -3.52% -24.42%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 80.14% 86.50% 82.07% 85.21% 83.50% 90.18% 80.80% 80.20% - 83.22% 83.13%
EBITDA Margin		 4.73% 8.77% 9.70% 4.54% 20.99% 34.02% 10.87% 41.01% - 45.89% 10.20%
Operating Margin		 2.42% 7.33% 7.08% 2.76% 20.82% 32.55% 31.18% 30.45% - 37.60% 30.59%
EBIT Margin		 2.44% 6.42% 7.49% 2.56% 18.67% 32.59% 9.64% 39.76% - 44.86% 9.00%
Profit (Net Income) Margin		 0.24% 46.51% 7.94% 0.50% 16.67% 26.68% 6.86% 61.09% - 36.57% 3.92%
Tax Burden Percent		 65.09% 91.45% 138.94% 55.54% 96.07% 85.07% 78.55% 157.58% - 82.58% 45.58%
Interest Burden Percent		 15.44% 792.34% 76.22% 35.49% 92.93% 96.23% 90.64% 97.51% - 98.73% 95.50%
Effective Tax Rate		 34.91% 8.55% -38.94% 44.46% 3.93% 14.93% 21.45% -57.58% - 17.42% 54.42%
Return on Invested Capital (ROIC)		 4.03% 19.77% 26.92% 4.00% 49.78% 73.22% 66.80% 109.61% - 77.92% 43.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 -16.41% -115.02% 52.04% -16.21% -27.12% 78.92% 179.48% -123.04% - 100.16% 319.90%
Return on Net Nonoperating Assets (RNNOA)		 -0.81% 21.82% -2.79% -0.65% -0.88% -9.24% -20.62% 4.67% - 19.54% -9.33%
Return on Equity (ROE)		 3.22% 41.60% 24.13% 3.35% 48.90% 63.98% 46.17% 114.28% - 97.45% 34.17%
Cash Return on Invested Capital (CROIC)		 -48.13% -18.13% -38.33% -42.64% -16.64% -17.03% 16.15% 25.20% - 51.06% 98.96%
Operating Return on Assets (OROA)		 2.05% 6.50% 8.08% 2.88% 21.84% 45.11% 13.67% 55.37% - 64.11% 12.39%
Return on Assets (ROA)		 0.21% 47.07% 8.55% 0.57% 19.50% 36.93% 9.73% 85.08% - 52.26% 5.39%
Return on Common Equity (ROCE)		 3.22% 41.60% 24.13% 3.35% 48.90% 63.98% 46.17% 114.28% - 97.45% 34.17%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -0.20% 20.27% 26.47% 0.00% 26.29% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.15 4.94 7.88 1.42 20 30 32 72 66 49 24
NOPAT Margin		 1.58% 6.71% 9.83% 1.53% 20.00% 27.69% 24.49% 47.98% - 31.05% 13.94%
Net Nonoperating Expense Percent (NNEP)		 20.43% 134.79% -25.12% 20.21% 76.90% -5.70% -112.68% 232.65% - -22.25% -276.40%
Return On Investment Capital (ROIC_SIMPLE)		 0.43% 2.44% - - 7.81% 10.89% 11.05% 19.74% 15.48% 10.43% 5.00%
Cost of Revenue to Revenue		 19.86% 13.50% 17.93% 14.79% 16.50% 9.82% 19.20% 19.80% - 16.78% 16.87%
SG&A Expenses to Revenue		 21.55% 22.97% 21.26% 26.40% 17.02% 16.02% 4.71% 7.47% - 6.13% 6.75%
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		 119.35% 92.67% 74.99% 97.24% 93.43% 67.45% 49.62% 49.75% - 45.62% 69.41%
Earnings before Interest and Taxes (EBIT)		 1.78 4.73 6.00 2.36 19 35 13 60 66 71 15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.46 6.46 7.77 4.20 21 37 14 62 68 73 17
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 3.57 2.65 3.25 6.06 5.43 16.50 9.24 - 11.58 22.79
Price to Tangible Book Value (P/TBV)		 1.37 3.99 2.94 3.57 6.54 5.83 17.63 9.70 - 12.42 24.46
Price to Revenue (P/Rev)		 0.39 1.66 1.28 1.59 3.19 2.84 8.27 5.48 - 3.90 7.36
Price to Earnings (P/E)		 0.00 0.00 13.06 12.27 19.16 20.64 64.96 18.34 - 10.49 21.28
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% 7.65% 8.15% 5.22% 4.85% 1.54% 5.45% - 9.53% 4.70%
Enterprise Value to Invested Capital (EV/IC)		 1.13 4.20 2.82 3.25 6.52 5.74 18.78 9.74 - 8.30 21.27
Enterprise Value to Revenue (EV/Rev)		 0.49 1.57 1.24 1.58 3.15 2.80 8.20 5.44 - 4.06 7.38
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 41.06 23.11 27.61 15.30 46.49 19.95 - 11.32 21.64
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 165.08 34.01 34.26 17.14 51.43 21.12 - 11.71 22.42
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 217.39 168.10 34.38 32.95 17.98 41.15 15.45 - 10.55 19.93
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.72 7.27 4.68 5.11 8.74 7.03 18.48 11.22 - 7.50 14.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 138.53 49.34 - 19.93 23.28
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.07 0.59 0.53 0.48 0.41 0.38 0.35 0.26 - 1.31 1.29
Long-Term Debt to Equity		 2.07 0.59 0.53 0.48 0.41 0.38 0.35 0.26 - 0.95 0.93
Financial Leverage		 0.05 -0.19 -0.05 0.04 0.03 -0.12 -0.11 -0.04 - 0.20 -0.03
Leverage Ratio		 3.18 2.36 2.40 2.41 2.20 1.69 1.70 1.58 - 2.10 2.20
Compound Leverage Factor		 0.49 18.71 1.83 0.86 2.04 1.62 1.54 1.54 - 2.07 2.10
Debt to Total Capital		 67.45% 37.07% 34.60% 32.49% 29.06% 27.33% 25.68% 20.47% - 56.79% 56.33%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 15.90% 15.76%
Long-Term Debt to Total Capital		 67.45% 37.07% 34.60% 32.49% 29.06% 27.33% 25.68% 20.47% - 40.88% 40.57%
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		 32.55% 62.93% 65.40% 67.51% 70.94% 72.67% 74.32% 79.53% - 43.21% 43.67%
Debt to EBITDA		 -4.96 -3.99 8.51 3.43 1.89 1.07 0.98 0.56 - 1.24 1.22
Net Debt to EBITDA		 -0.67 1.34 -1.53 -0.02 -0.39 -0.19 -0.37 -0.13 - 0.42 0.07
Long-Term Debt to EBITDA		 -4.96 -3.99 8.51 3.43 1.89 1.07 0.98 0.56 - 0.89 0.88
Debt to NOPAT		 -6.11 37.97 34.84 5.10 2.26 1.26 0.87 0.43 - 1.15 1.12
Net Debt to NOPAT		 -0.82 -12.76 -6.25 -0.02 -0.47 -0.22 -0.32 -0.10 - 0.40 0.07
Long-Term Debt to NOPAT		 -6.11 37.97 34.84 5.10 2.26 1.26 0.87 0.43 - 0.83 0.81
Altman Z-Score		 1.22 3.66 3.43 3.90 7.37 7.62 16.55 13.84 - 6.99 10.15
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		 10.81 7.47 8.67 6.81 8.05 8.59 9.51 8.69 - 3.86 4.22
Quick Ratio		 10.50 7.00 8.16 6.43 7.59 8.13 9.02 8.11 - 3.66 3.94
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -18 -14 -35 -65 -36 -54 -28 -47 -73 -60 -10
Operating Cash Flow to CapEx		 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% 2,548.68%
Free Cash Flow to Firm to Interest Expense		 -6.52 0.00 -17.94 -33.30 -19.65 -30.78 -15.99 -26.05 - -34.81 -5.19
Operating Cash Flow to Interest Expense		 5.60 0.00 14.27 18.86 22.63 25.74 38.40 46.53 - 47.44 33.85
Operating Cash Flow Less CapEx to Interest Expense		 4.87 0.00 13.10 17.93 21.64 24.94 37.35 45.55 - 46.54 32.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.84 1.01 1.08 1.13 1.17 1.38 1.42 1.39 - 1.43 1.38
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		 241.69 243.92 255.39 307.66 380.98 472.06 576.65 739.91 - 1,152.75 1,191.95
Accounts Payable Turnover		 6.91 8.31 7.03 5.86 8.92 7.21 7.77 9.88 - 16.40 15.05
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)		 52.83 43.93 51.89 62.32 40.93 50.62 46.99 36.95 - 22.26 24.26
Cash Conversion Cycle (CCC)		 -52.83 -43.93 -51.89 -62.32 -40.93 -50.62 -46.99 -36.95 - -22.26 -24.26
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 111 102 128 156 168 186 189 275 306 296 223
Invested Capital Turnover		 2.55 2.95 2.74 2.61 2.49 2.64 2.73 2.28 - 2.51 3.12
Increase / (Decrease) in Invested Capital		 19 19 43 67 56 84 61 119 139 109 34
Enterprise Value (EV)		 126 429 362 506 1,093 1,069 3,553 2,674 - 2,452 4,753
Market Capitalization		 101 455 375 506 1,109 1,082 3,581 2,691 - 2,361 4,737
Book Value per Share		 $7.19 $10.40 $11.44 $12.30 $14.35 $15.23 $16.27 $21.58 $26.12 $15.03 $16.35
Tangible Book Value per Share		 $6.10 $9.31 $10.32 $11.19 $13.28 $14.19 $15.23 $20.55 $25.11 $14.02 $15.23
Total Capital		 268 202 217 231 258 274 292 366 428 472 476
Total Debt		 180 75 75 75 75 75 75 75 75 268 268
Total Long-Term Debt		 180 75 75 75 75 75 75 75 0.00 193 193
Net Debt		 24 -25 -13 -0.36 -15 -13 -28 -17 -46 92 16
Capital Expenditures (CapEx)		 2.04 1.60 2.31 1.82 1.83 1.41 1.86 1.77 1.74 1.56 2.68
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 95 89 115 142 157 176 207 250 276 254 219
Debt-free Net Working Capital (DFNWC)		 251 189 203 217 247 264 310 342 398 430 471
Net Working Capital (NWC)		 251 189 203 217 247 264 310 342 323 355 396
Net Nonoperating Expense (NNE)		 0.98 -29 1.52 0.95 3.36 1.09 23 -20 0.28 -8.75 17
Net Nonoperating Obligations (NNO)		 24 -25 -13 -0.20 -15 -13 -28 -17 -46 92 16
Total Depreciation and Amortization (D&A)		 1.68 1.73 1.77 1.84 2.34 1.54 1.62 1.88 2.09 1.62 2.05
Debt-free, Cash-free Net Working Capital to Revenue		 36.80% 32.57% 39.24% 44.50% 45.21% 46.12% 47.82% 50.85% - 42.07% 33.96%
Debt-free Net Working Capital to Revenue		 96.99% 69.06% 69.38% 68.03% 71.23% 69.22% 71.57% 69.53% - 71.17% 73.20%
Net Working Capital to Revenue		 96.99% 69.06% 69.38% 68.03% 71.23% 69.22% 71.57% 69.53% - 58.76% 61.55%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.01 $2.80 $0.51 $0.04 $1.34 $2.19 $0.68 $6.84 $4.94 $4.31 $0.53
Adjusted Weighted Average Basic Shares Outstanding		 11.93M 12.22M 12.42M 12.64M 12.52M 13.13M 13.36M 13.46M 13.37M 13.43M 12.72M
Adjusted Diluted Earnings per Share		 $0.01 $2.60 $0.47 $0.03 $1.34 $1.97 $0.62 $6.34 $4.60 $4.02 $0.49
Adjusted Weighted Average Diluted Shares Outstanding		 11.93M 13.18M 13.54M 13.93M 13.82M 14.65M 14.55M 14.53M 14.48M 14.40M 13.68M
Adjusted Basic & Diluted Earnings per Share		 $0.01 $0.00 $0.00 $0.00 $1.34 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 12.24M 12.39M 12.67M 12.76M 13.09M 13.34M 13.50M 13.50M 13.56M 12.71M 12.76M
Normalized Net Operating Profit after Tax (NOPAT)		 1.15 4.94 3.97 1.42 20 30 32 32 45 49 37
Normalized NOPAT Margin		 1.58% 6.71% 4.95% 1.53% 20.00% 27.69% 24.49% 21.32% - 31.05% 21.41%
Pre Tax Income Margin		 0.38% 50.86% 5.71% 0.91% 17.35% 31.37% 8.73% 38.77% - 44.29% 8.59%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.64 0.00 3.06 1.20 10.21 20.02 7.15 33.50 - 41.10 7.61
NOPAT to Interest Expense		 0.41 0.00 4.01 0.72 10.94 17.01 18.16 40.43 - 28.45 11.79
EBIT Less CapEx to Interest Expense		 -0.09 0.00 1.88 0.28 9.22 19.22 6.10 32.51 - 40.20 6.28
NOPAT Less CapEx to Interest Expense		 -0.32 0.00 2.83 -0.21 9.95 16.21 17.12 39.44 - 27.55 10.46
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% - 99.37% 109.01%

Financials Breakdown Chart

Key Financial Trends

Dave’s latest quarter shows a business that has moved sharply from survival mode into strong profitability and cash generation. In Q1 2026, revenue rose to $158.4 million and net income came in at $57.9 million, with diluted EPS of $4.02. That is a meaningful improvement versus the already profitable 2025 and is a dramatic turnaround from the losses seen in 2022 and early 2023.

The balance sheet also looks much stronger than it did a year ago. Dave ended Q1 2026 with $133.3 million in cash and equivalents, $42.6 million in short-term investments, and total current assets of $479.6 million. Total liabilities were $326.7 million, leaving equity of $203.8 million. Compared with earlier periods, the company has built a much healthier liquidity cushion.

Cash flow remains a key positive. Dave generated $82.0 million in operating cash flow in Q1 2026, compared with $93.3 million in Q4 2025 and $45.2 million in Q1 2025. Even after investing outflows and financing activity, the company still increased cash by $52.8 million during the quarter. That suggests the earnings are being backed by real cash generation, not just accounting gains.

Revenue growth has been impressive, but the growth rate has slowed from the breakout levels seen last year. Q1 2026 revenue was up about 47% year over year from Q1 2025, while Q4 2025 revenue was up about 55% year over year from Q4 2024. That is still strong, but investors should note the year-over-year growth rate is no longer accelerating.

Margins improved sharply as well. In Q1 2026, gross profit was $131.8 million, or about 83% of revenue, while operating income was $59.6 million, equal to roughly 38% operating margin. Those are very strong figures for a financial technology company and help explain the jump in earnings.

  • Revenue increased to $158.4 million in Q1 2026, up sharply from $107.98 million in Q1 2025.
  • Net income rose to $57.9 million, showing continued profitability momentum.
  • Operating cash flow was strong at $82.0 million, supporting the quality of earnings.
  • Cash and equivalents increased to $133.3 million, improving liquidity.
  • Total equity improved to $203.8 million, well above prior-year levels.
  • Operating margin remained robust at about 38% in Q1 2026.
  • The company has consistently generated positive quarterly cash from operations since 2024.
  • Short-term debt of $75.0 million remains on the books, but it is manageable relative to cash and investments.
  • Dave continues to buy back stock, which can support EPS but also uses cash.
  • Other operating expenses were still large at $48.3 million in Q1 2026.

There are a few things investors should watch carefully. Dave still carries meaningful debt, including $75 million of short-term debt and $192.8 million of long-term debt in Q1 2026. Interest expense also remains material at $1.7 million for the quarter. While the company appears well positioned now, leverage is still a factor.

Another point is that the company’s balance sheet has become more complex, with notable swings in note and lease receivables, investments, and treasury stock over the last several quarters. That doesn’t necessarily signal a problem, but it does mean investors should look beyond headline earnings and continue watching cash flow, debt levels, and capital allocation.

Bottom line: Dave’s financial trend over the last several years is clearly positive. The company has gone from deep losses in 2022 and 2023 to consistent profitability, strong operating cash flow, and a much healthier balance sheet. The main risk now is not profitability, but whether Dave can sustain growth while managing debt and expenses.

08/11/26 10:01 AM 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%.


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Financial statements for NASDAQ:DAVE last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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