Dave Q1 revenue rises 47%

Dave

05/05/2026 21:36

Overview

U.S. neobank's Q1 revenue grew 47% yr/yr, driven by MTM growth and ARPU expansion

Q1 net income rose 101% yr/yr; adjusted EBITDA increased 57%

Company repurchased about $195 mln in shares, representing 7% of shares outstanding

Outlook

Dave raises 2026 revenue guidance to $710-$720 mln from $690-$710 mln

Company lifts 2026 adj EBITDA forecast to $305-$315 mln from $290-$305 mln

Dave increases 2026 adj diluted EPS guidance to $16.25-$16.75 from $14.00-$15.00

Result Drivers

MEMBER AND ARPU GROWTH - Co said Q1 revenue was driven by 18% yr/yr growth in monthly transacting members and 24% yr/yr ARPU expansion, both above targets

CREDIT PERFORMANCE - Record-low 28-day past due rate of 1.69% and net monetization rate of 5.1% supported earnings growth, per CEO and CFO

CASHAI AND PRODUCT INNOVATION - Co attributed results to investments in CashAI underwriting technology and ongoing product development

Company press release: ID:nPn7ysTwpa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$158.40 mln
Q1 Net Income
$57.90 mln
Q1 Adjusted EBITDA
$69.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the financial technology (fintech) peer group is "buy"

Wall Street's median 12-month price target for Dave Inc is $328.00, about 17.5% above its May 4 closing price of $279.17

The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)