From GlobeNewswire: 2025-03-03 16:05:00

Dave Inc. reported a 38% increase in Q4 revenue to $100.9 million and a 34% increase in full-year revenue to $347.1 million. Q4 net income rose to $16.8 million, with Adjusted EBITDA up by 234% to $33.4 million, surpassing guidance. The company established a strong 2025 revenue and Adjusted EBITDA outlook. Quarterly highlights include a 44% increase in ExtraCash originations and a 24% increase in Dave Debit Card spend.

New members increased by 12% to 766,000 in Q4, with Monthly Transacting Members up by 17% to 2.5 million. ExtraCash originations rose by 44% to $1.5 billion, while the average 28-Day delinquency rate improved by 53 basis points to 1.66%. Dave Debit Card spend increased by 24% to $457 million. The company’s key performance indicators can be found in its Fourth Quarter & Full Year 2024 Earnings Presentation.

For the full year 2024, Dave reported a 34% increase in GAAP Operating Revenues to $347.1 million and a 59% increase in Non-GAAP Variable Profit to $238.5 million. Adjusted EBITDA rose to $86.5 million. The company had $91.9 million in cash and cash equivalents as of December 31, 2024, compared to $76.7 million as of September 30, 2024.

Dave provided a 2025 financial guidance with projected GAAP Operating Revenues of $415 – $435 million and Adjusted EBITDA of $110 – $120 million. The company’s CFO highlighted the impact of the new fee structure and commitment to sustainable growth. Dave aims to expand ARPU, enhance banking services, strengthen member retention, and drive performance in 2025.



Read more at GlobeNewswire:: Dave Reports Fourth Quarter & Full Year 2024 Financial