Neobank Dave's Q3 revenue, profit jump on transacting members growth

Dave

04/11/2025 12:12

Overview

Dave Q3 revenue rises 63% yr/yr, reaching $150.8 mln

Net income for Q3 hits $92.0 mln, reflecting record profitability

Company raises 2025 revenue and adjusted EBITDA guidance

Outlook

Dave raises 2025 revenue guidance to $544 - $547 mln

Company increases 2025 adj. EBITDA guidance to $215 - $218 mln

Rollout of CashAI v5.5 improves origination size and delinquency rates in Q4

Result Drivers

MTM GROWTH - Accelerating Monthly Transacting Members growth contributed to revenue increase

EXTRACASH ORIGINATIONS - ExtraCash originations grew 49% to $2 bln, boosting monetization rate

CASHAI IMPROVEMENTS - CashAI v5.5 rollout improved origination size and delinquency rates

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$150.80 mln
Q3 Net Income
$92 mln
Q3 Adjusted EBITDA
$58.70 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 $278.50, about 13.8% above its November 3 closing price of $240.11

The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 31 three months ago

Press Release: ID:nGNX8SGrCT

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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.)