Earnings Releases·Nov 4, 2026, 4:20 PM ET

Dave Inc. — Third Quarter 2026 Earnings Summary

GAAP operating revenues rose 31% year-over-year to $198 million, while Adjusted EBITDA increased 39% to $82 million; however, GAAP net income declined 31% to $64 million and Adjusted Net Income fell 7% to $60 million.
Management raised full-year 2026 guidance for GAAP operating revenues ($746–$750 million), Adjusted EBITDA ($327–$330 million), and Adjusted Net Income per share ($17.45–$17.65), citing strong revenue growth and operating leverage.
Key product metrics showed robust growth, with Monthly Transacting Members up 18% to 3.15 million and ExtraCash originations increasing 23% to $2.5 billion, alongside a 28-day past due rate improving to 2.09% in Q3.
Capital allocation included $20 million in share repurchases and the early repayment of $75 million in debt to Victory Park Management, leaving $88 million remaining under the share repurchase authorization.
The company faces ongoing risks including a Department of Justice lawsuit, regulatory uncertainty, and reliance on two primary bank partners, while planning a broader rollout of Dave Flex in 2027.