Dave (NASDAQ:DAVE) Posts Earnings Results, Beats Expectations By $0.78 EPS

Dave (NASDAQ:DAVE) announced its earnings results on Tuesday. The fintech company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.78, FiscalAI reports. Dave had a return on equity of 72.06% and a net margin of 37.22%.The business had revenue of $158.40 million during the quarter, compared to the consensus estimate of $153.67 million. Dave updated its FY 2026 guidance to 16.250-16.750 EPS.

Here are the key takeaways from Dave’s conference call:

• Strong Q1 results — Revenue grew 47% to $158.4M and adjusted EBITDA rose 57% to $69.3M (44% margin), and the company raised full‑year guidance to $710M–$720M revenue, $305M–$315M adjusted EBITDA, and $16.25–$16.75 adjusted EPS.
• Credit performance improved materially from CashAI v5.5, delivering a record low 28‑day past due rate of 1.69% and management expects further improvement as CashAI v6.0 is tested.
• Member growth and unit economics remain durable — 695k new members (+22% YoY), 2.99M Monthly Transacting Members (+18%), ARPU +24% YoY, CAC ~$18 with ~3‑month gross profit payback, supporting continued scaled marketing.
• Product roadmap — Dave Flex (a pay‑in‑four card powered by CashAI) is in limited testing, positioned to deepen engagement and displace subprime credit/BNPL long‑term, but it is not expected to meaningfully contribute to 2026 guidance.
• Capital & funding strategy — Completed a $200M convertible note, deployed ~$195M to repurchases (share count down ~6%), and plans to shift ExtraCash receivables to an off‑balance‑sheet Coastal funding structure this summer to unlock >$200M liquidity and lower cost of capital (though Coastal fees will burden non‑GAAP gross profit).

Dave Trading Up 1.2%

NASDAQ:DAVE traded up $2.90 during midday trading on Thursday, hitting $249.27. 544,448 shares of the company were exchanged, compared to its average volume of 578,073. Dave has a fifty-two week low of $126.89 and a fifty-two week high of $287.69. The company has a market capitalization of $3.38 billion, a PE ratio of 16.03 and a beta of 3.93. The company has a fifty day simple moving average of $214.38 and a 200 day simple moving average of $208.95.

Institutional Trading of Dave

A number of large investors have recently made changes to their positions in DAVE. WealthCollab LLC purchased a new stake in Dave in the second quarter valued at approximately $30,000. National Bank of Canada FI acquired a new stake in Dave during the 3rd quarter worth $30,000. Kestra Advisory Services LLC purchased a new position in Dave during the 4th quarter worth $36,000. Atlas Capital Advisors Inc. acquired a new position in Dave in the fourth quarter valued at $84,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Dave in the fourth quarter valued at about $207,000. 18.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DAVE has been the topic of several recent analyst reports. B. Riley Financial increased their price objective on shares of Dave from $297.00 to $303.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Barrington Research reaffirmed an “outperform” rating and issued a $290.00 price target on shares of Dave in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dave in a report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price objective on Dave from $295.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Canaccord Genuity Group raised their target price on Dave from $328.00 to $342.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dave has an average rating of “Moderate Buy” and a consensus target price of $325.88.

Dave declared that its board has approved a share buyback plan on Monday, March 2nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the fintech company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Dave Company Profile

Dave, Inc is a Los Angeles–based financial technology company founded in 2016 by Jason Wilk and John Wolanin. The company offers a subscription-based mobile app designed to help consumers avoid overdraft fees, manage their budgets and track expenses. Through its platform, members receive low-balance alerts, expense categorization and cash-advance capabilities tied to upcoming deposits.

At the core of Dave’s offering is fee-free overdraft protection: eligible users can request small, interest-free advances up to a preset limit, typically repaid on their next paycheck or deposit.