Dave Inc. (DAVE) Earnings
Dave Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $3.42. DAVE has beaten EPS estimates in 5 of its last 9 reported quarters (average surprise +66.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $2.64 | $4.02 | +52.3% | $158M | +3.1% |
| Aug 6, 2025 | $1.90 | $3.14 | +65.3% | $132M | -0.6% |
| May 8, 2025 | $1.54 | $2.48 | +61.0% | $108M | +3.4% |
| Mar 3, 2025 | $1.09 | $2.04 | +87.2% | $101M | +11.7% |
| Mar 5, 2024 | $-2.05 | $0.03 | +101.5% | $73M | +14.8% |
| Mar 6, 2023 | $-1.95 | $-4.79 | -145.6% | $60M | +0.0% |
| Nov 14, 2022 | $-1.92 | $-4.15 | -116.1% | $57M | +6.1% |
| Aug 22, 2022 | $-2.24 | $-2.24 | +0.0% | $46M | -7.3% |
| May 13, 2022 | $-1.60 | $-3.19 | -99.4% | $43M | -2.8% |
| Mar 25, 2022 | — | $-1.31 | — | $41M | — |
| Aug 13, 2021 | — | $-0.07 | — | $37M | — |
| May 24, 2021 | — | $0.34 | — | $34M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
### Key Takeaways - Credit performance from Cash AI v5.5 led to lowest Q1 loss rate on record, with 28 days past due metric at 1.69%. - Demonstrated durability of growth algorithm with mid-teens member growth and low double-digit ARPU growth. - Launched new pay-in-for-credit product, DaveFlex, in trial. ### Growth Pillars - Member acquisition: Added 695,000 new members in Q1, up 22% year-over-year, with customer acquisition cost at $18, flat year over year and improved 11% sequentially. - Engagement through extra cash: Originations reached $2.1 billion, up 37% year-over-year, driven by growth in MTMs and average origination size. - Deepening engagement: Dave's debit card spend was $534 million in Q1, up 9%. ### Strategic Updates - DaveFlex is in trial with existing members, not expected to contribute meaningfully to 2026 revenue. - Partnership with Coastal Community Bank on track to transition extra cash receivables this summer. - No material update on DOJ matter.
Guidance
Based on Q1 results, full year 2026 guidance is raised. Now expects full year revenue of $710 to $720 million (approx 28% to 30% growth), adjusted EBITDA to 305 to 315 million, and adjusted diluted EPS to a range of $16.25 to $16.75 (up from $14 to $15).
Segment performance
Revenue grew 47% year over year to $158.4 million. Adjusted EBITDA grew 57% to $69.3 million at a 44% margin. Revenue was driven by 18% MTM growth and 24% ARPU expansion. New member conversion, dormant member reactivation, and retention contributed. Non-GAAP gross profit was $114.4 million, up 37% year-over-year, with non-GAAP gross margin 72% initially but expected to expand into mid-70s for the balance of the year.
Analyst Q&A
Q: Andrew Jeffrey with William Blair asked about focusing on engagement and where engagement goes.
A: Jason Wilk said Dave has a differentiated offering with Dave Flex, and there's a huge opportunity to drive more engagement through credit share of wallet.
Q: Ryan Tomasella with KBW asked about monetization rates for Flex pay product and CAC.
A: Jason Wilk said they're in market testing higher monthly fee and per swipe transaction fee for Flex, and will spend on Flex acquisition where there are positive returns.
Q: Joseph Baffey with Canaccord asked about credit algo and removing fee cap.
A: Kyle Bauman said removing the fee cap opens up the credit box and increases limits, with benefits to conversion.
Q: Devin Ryan with Citizens Bank asked about capital and liquidity.
A: Kyle Bauman said share purchases are a top capital allocation priority, and they'll evaluate M&A but mainly focus on share purchases.
Q: Jeff Cantwell with C4 Research asked about provision expense and CAC for new product.
A: Kyle Bauman said provision timing had a $5 million swing, and they'll invest in Flex where there are positive returns.
Q: Hal Ghosh with B Riley Securities asked about share count and BNPL usage.
A: Kyle Bauman said no specific share count guidance, and around 50% of people engage with BNPL at some point in a quarter.
Q: Jacob Steffen with Lake Street Capital Markets asked about dormant reactivation and removal of fee cap.
A: Kyle Bauman said dormant reactivation is driven by lifecycle marketing and cash AI, and removal of fee cap applies to new customers.