DAVEW

• Q3 was a record quarter with strong revenue, member, and ARPU growth. - Strategic pillars include efficient member acquisition (CAC per new member stable at $19, improved conversion), strengthening engagement through credit (ExtraCash originations grew 49% YOY, surpassing $2 billion), and deepening engagement via Dave Card (total card spend grew 25% YOY to $510 million, subscription revenue up 57% YOY). - Operational updates: Onboarding new members to Coastal Community Bank for ExtraCash and banking products, and hiring Parker Barrile as Chief Product Officer. - Credit performance improved with new pricing model and CashAI v5.5, leading to better net monetization per transaction.

• Raised 2025 revenue guidance to $544 million to $547 million. - Raised 2025 adjusted EBITDA guidance to $215 million to $218 million. - Growth is driven by improved unit economics, marketing investments, and favorable market conditions.

In the third quarter, Dave achieved significant growth. Revenue grew 63% year-over-year to $150.8 million. Monthly transacting members increased 17% to 2.77 million. ARPU expanded by nearly 40%. Adjusted EBITDA was $58.7 million. The revenue contribution from various segments isn't explicitly broken down by product, but key drivers include growth in ExtraCash originations, Dave Card spend, and subscription revenue.

• Forward-looking statements are subject to known and unknown risks and uncertainties as detailed in SEC filings. - Timing effects on provisions and potential impact of portfolio composition shifts on delinquency metrics are noted as areas of consideration.

Q: Could you talk about delinquency rates and CashAI v5.5?

A: Jason Wilk stated CashAI v5.5 with more variables and cash flow data leads to superior credit performance.

Q: When will the transition with Coastal on the balance sheet be complete?

A: Kyle Beilman said existing customers will begin transitioning imminently and expect full migration by early 2026.

Q: How does the existing business model help in the buy now, pay later opportunity?

A: Jason Wilk mentioned 60% of members engage in BNPL, CashAI underwriting advantage, and flexibility of BNPL as key points.

Q: How did Dave Card adoption trend in Q3?

A: Jason Wilk said Dave Card spend grew 25% in Q3 to $510 million.

Q: What's the outlook for average ExtraCash Advance size?

A: Kyle Beilman expects continued growth through model optimizations, retention, and new products like BNPL.