Dave Q2 revenue rises 30%, raises 2026 outlook

Dave

05/08/2026 21:48

Overview
U.S. neobank's Q2 revenue grew 30% yr/yr, driven by MTM and ARPU expansion
Adjusted EBITDA for Q2 rose 48% yr/yr to $75.5 mln, margin reached 44%
Company raised 2026 guidance for revenue, adjusted EBITDA and adjusted diluted EPS

Outlook
Dave raises 2026 revenue guidance to $725-$735 mln from $710-$720 mln
Company lifts 2026 adj EBITDA forecast to $315-$325 mln from $305-$315 mln
Dave expects 2026 adj net income per diluted share of $17.00-$17.50, up from $16.25-$16.75

Result Drivers
MEMBER GROWTH - MTMs increased 17% yr/yr to 3.08 mln, supporting revenue growth
ARPU EXPANSION - Co cited higher average revenue per user as contributing to revenue growth
EXTRACASH ORIGINATIONS - ExtraCash originations grew 27% yr/yr to $2.3 bln, with improved monetization rate

Company press release: ID:nPn66hgqla

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$170.80 mln
 
Q2 Net Income
 
$6.70 mln
 
Q2 Adjusted EBITDA
 
$75.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "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 $400.00, about 6.8% below its August 4 closing price of $429.26
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 18 three months ago

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(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.)