In the second quarter of 2025, Dave Inc. reported impressive financial results, with revenue growing by 64% year-over-year to $131.7 million. Net income increased by 42% to $9.1 million, while adjusted net income and adjusted EBITDA saw significant growth of 233% and 236%, respectively.

The company also raised its 2025 revenue and adjusted EBITDA guidance to $505-$515 million and $180-$190 million, respectively. This reflects Dave’s confidence in its long-term opportunity and commitment to innovation, member value, and shareholder returns.

Key operating highlights from the second quarter included an increase in new members to 722,000, a 16% growth in Monthly Transacting Members (MTMs) to 2.6 million, and a 51% increase in ExtraCash originations to $1.8 billion. Additionally, Dave Debit Card spend rose by 27% to $493 million.

As of June 30, 2025, Dave had $104.7 million in cash and cash equivalents, marketable securities, investments, and restricted cash, up from $89.7 million in the previous quarter. The increase was driven by free cash flow generation, offset by a rise in the ExtraCash receivables balance.

Dave’s CFO & COO, Kyle Beilman, highlighted the company’s strong unit economics and capital efficiency, with improvements in member lifetime value and monetization. Dave also completed an agreement with Coastal Community Bank to move a significant portion of ExtraCash receivables off-balance sheet, enhancing liquidity and reducing funding obligations.

Looking ahead, Dave’s 2025 financial guidance includes operating revenues of $505-$515 million, representing 46-48% year-over-year growth, and adjusted EBITDA of $180-$190 million, reflecting 108-120% growth. The company continues to focus on profitability and efficiency as it scales its business.

Read more at GlobeNewswire: Dave Reports Second Quarter 2025 Financial Results