Dave (NASDAQ:DAVE) Issues Earnings Results, Beats Expectations By $0.30 EPS

Dave (NASDAQ:DAVE) announced its quarterly earnings data on Wednesday. The fintech company reported $4.39 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.30, FiscalAI reports. The firm had revenue of $197.70 million during the quarter, compared to analysts’ expectations of $191.89 million. Dave had a return on equity of 77.46% and a net margin of 34.58%.

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

• Positive sentiment: Dave raised its full-year guidance for revenue to $746–$750 million, adjusted EBITDA to $327–$330 million, and adjusted diluted EPS to $17.45–$17.65. At the midpoint, management expects Q4 revenue growth to accelerate to about 35% and a 46% adjusted EBITDA margin.
• Neutral sentiment: Credit indicators improved after the full rollout of CashAI v6.0, with September’s 28-day past-due rate below 2% and average ExtraCash size reaching $225. However, Q3 credit-loss provision was $37 million and higher than forecast because earlier collections did not translate into as much reduction in ultimate losses as expected; management recalibrated its assumptions.
• Positive sentiment: Member acquisition reached a record 1.1 million new members, up 35% year over year, while marketing spend rose more than 50% and CAC increased 14%. Management said payback remained under four months, and annualized gross profit per monthly transacting member rose about $19 to $175.
• Positive sentiment: Dave Flex showed early traction, with better-than-expected acquisition costs and encouraging cross-adoption with ExtraCash; management said the products appear complementary rather than cannibalistic. Dave does not expect meaningful Flex revenue in 2026, but sees a more significant contribution in the second half of 2027.
• Positive sentiment: Dave expanded its Coastal Community Bank funding capacity from $225 million to $325 million and repaid the $75 million outstanding on its Victory Park facility. Management said the funding arrangement increases flexibility for growth and capital returns; $88 million remained under the share repurchase authorization.

Dave Trading Down 18.9%

Shares of NASDAQ DAVE traded down $63.50 during mid-day trading on Thursday, hitting $272.72. The stock had a trading volume of 567,869 shares, compared to its average volume of 503,587. The firm has a market cap of $3.48 billion, a P/E ratio of 17.62 and a beta of 4.07. The business has a 50 day moving average price of $351.80 and a two-hundred day moving average price of $288.29. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.22 and a current ratio of 4.22. Dave has a 1 year low of $152.21 and a 1 year high of $458.25.

Dave News Summary

Here are the key news stories impacting Dave this week:

• Positive Sentiment: Third-quarter revenue rose 31% year over year to about $198 million, with the company citing record new-member acquisition, continued growth and higher average revenue per user. Adjusted EBITDA increased 39% to $82 million, and Dave raised its 2026 revenue and adjusted EBITDA guidance. Dave Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Credit and monetization indicators also improved: the 28-day delinquency rate fell to 2.09%, while the net monetization rate reached 5.2%, its highest level in five years. Dave Reports Third Quarter 2026 Financial Results
• Negative Sentiment: Quarterly EPS was $4.39. While that topped one reported analyst consensus of $4.09, it missed the Zacks consensus estimate of $4.45. Coverage attributed the share decline to profit trailing expectations despite higher revenue and raised guidance, suggesting investors focused on earnings relative to forecasts. Dave Inc. Q3 Earnings Miss Estimates Dave stock slumps as Q3 profit trails estimates

Wall Street Analyst Weigh In

Several research firms recently weighed in on DAVE. Lake Street Capital restated a “buy” rating and set a $450.00 price target on shares of Dave in a research report on Thursday, August 6th. B. Riley Financial increased their target price on shares of Dave from $370.00 to $449.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods raised their price target on shares of Dave from $485.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Loop Capital initiated coverage on shares of Dave in a research note on Wednesday, September 9th. They set a “buy” rating and a $500.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Dave in a report on Tuesday, September 15th. They issued an “overweight” rating and a $480.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.25.

Dave Company Profile

Dave Inc is a financial technology company that operates a digital banking platform in the United States. The company’s mobile app is designed to help members manage everyday finances, access funds between paychecks and build financial flexibility.

Its primary offerings include ExtraCash, an advance product intended to provide eligible members with access to a portion of their expected income, and Dave Spending, a debit account and associated payment card. Dave also provides budgeting tools, automated savings features through Dave Goals, and Side Hustle resources that help members identify potential ways to earn additional income.

Dave was founded in 2016 by Jason Wilk, who serves as chief executive officer.