Dave Inc./DE DAVE
Unless otherwise noted or the context otherwise requires, the disclosures in this Item 1 refer to Dave Inc. and its consolidated subsidiaries following the consummation of the Business Combination.
Dave Inc. ("Dave," the "Company," "we," "us," or "our") is one of the nation's leading neobanks, providing a mobile-first financial services platform designed to help everyday Americans manage their money more effectively. We serve millions of Members who are often underserved by traditional financial institutions, offering them access to short-term liquidity, fee-free banking, and financial management tools at a fraction of the cost of incumbents.
Founded in 2017 and inspired by the story of David vs. Goliath, we set out to challenge legacy banking by leveraging technology to expand financial access and improve consumer financial health. Our mission is to level the financial playing field by providing intuitive, transparent, and accessible solutions that empower our Members to navigate life's financial challenges with confidence.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $554.2M | $347.1M | $259.1M | $204.8M | $153.0M | — |
| Total operating expenses | $367.6M | $312.5M | $301.3M | $339.2M | $199.9M | — |
| Operating income | — | — | — | — | -$6.4M | — |
| Interest expense | $7.0M | $8.0M | $11.8M | $9.2M | $2.5M | — |
| Pre-tax income | $168.0M | $60.4M | -$48.4M | -$129.0M | -$19.9M | — |
| Income tax | $27.8M | $2.5M | $120.0K | $67.0K | $97.0K | — |
| Net income | $196.0M | $58.0M | -$49.0M | -$128.9M | -$20.0M | — |
| EPS, basic | 14.65 | 4.62 | -4.07 | -11.12 | -4.69 | — |
| EPS, diluted | 13.53 | 4.19 | -4.07 | -11.12 | -4.69 | — |
| Shares, diluted (wtd. avg.) | 14.5M | 13.8M | 11.9M | 11.6M | 4.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $80.5M | $49.7M | $41.8M | $23.7M | $32.4M | $5.1M |
| Short-term investments | $40.8M | $40.5M | $113.2M | $168.8M | $0 | — |
| Total current assets | $436.7M | $282.3M | $276.9M | $308.6M | $100.2M | — |
| Property, plant and equipment | $474.0K | $704.0K | $1.1M | $1.0M | $685.0K | — |
| Other intangibles | $13.7M | $13.6M | $13.2M | $10.2M | $7.8M | — |
| Total assets | $487.4M | $299.3M | $294.0M | $321.5M | $147.2M | — |
| Accounts payable | $8.4M | $6.8M | $5.5M | $11.4M | $13.0M | — |
| Total current liabilities | $114.0M | $35.1M | $25.6M | $36.4M | $68.6M | — |
| Long-term debt | $0 | $75.0M | $75.0M | $75.0M | $35.0M | — |
| Total liabilities | $134.7M | $116.2M | $207.0M | $214.9M | $108.4M | — |
| Retained earnings | $43.4M | -$152.4M | -$210.3M | -$161.8M | -$32.9M | — |
| Total equity | $352.7M | $183.1M | $87.1M | $106.6M | $38.7M | $49.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $290.0M | $125.1M | $33.8M | -$44.9M | -$541.0K | — |
| Depreciation and amortisation | $7.1M | $7.7M | $5.5M | $7.1M | $3.1M | — |
| Stock-based compensation | — | — | — | — | $2.1M | — |
| Capital expenditure | $317.0K | $262.0K | $688.0K | $728.0K | $371.0K | — |
| Investing cash flow | -$202.7M | -$45.8M | -$14.4M | -$285.6M | -$37.2M | — |
| Financing cash flow | -$56.3M | -$71.0M | $22.0K | $321.8M | $65.0M | — |
| Buybacks | $43.7M | $0 | $0 | $536.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-164199.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $153.0M | $204.8M | $259.1M | $347.1M | $554.2M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | -$20.0M | -$128.9M | -$49.0M | $58.0M | $196.0M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed Item 1.01
- Other event Item 8.01
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6199
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| SYF | Synchrony Financial | $23.96B | 7.9x | — |
| CRCL | Circle Internet Group, Inc. | $21.32B | — | 624.0% |
| SOFI | SoFi Technologies, Inc. | $18.88B | 37.5x | 23.1% |
| BMNR | BITMINE IMMERSION TECHNOLOGIES, INC. | $13.51B | 1.7x | 84.1% |
| CHYM | Chime Financial, Inc. | $11.23B | — | 30.7% |