Dave(DAVE)

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Bull of the Day: Dave (DAVE)
ZACKS· 2024-11-27 13:01
There have been several stocks that have doubled in short order following Election Day. The risk-on behavior the broad market has seen is beginning to call upon those animal spirits in all of us. The worry now for investors is, how long can these moves last? One stock that’s doubled up in short order is today’s Bull of the Day.I’m talking about Zacks Rank #1 (Strong Buy) Dave ((DAVE) ). Dave Inc., founded in 2015 and headquartered in Los Angeles, California, is a financial technology company offering a suit ...
Dave & Buster's Entertainment, Inc. to Report Third Quarter 2024 Financial Results on December 10, 2024
GlobeNewswire News Room· 2024-11-26 21:05
Core Insights - Dave & Buster's Entertainment, Inc. will report its financial results for the third quarter ended November 5, 2024, after market close on December 10, 2024 [1] - A conference call to discuss these results will take place on December 10, 2024, at 4:00 p.m. Central Time [2] Company Overview - Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster's operates 228 venues in North America under two brands: Dave & Buster's and Main Event [3] - The company has 168 Dave & Buster's locations across 43 states, Puerto Rico, and Canada, offering a combination of dining and entertainment experiences [3] - Main Event brand includes 60 locations in 21 states, featuring bowling, laser tag, arcade games, and virtual reality attractions [3]
Surging Earnings Estimates Signal Upside for DAVE INC (DAVE) Stock
ZACKS· 2024-11-21 18:21
Dave Inc. (DAVE) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in ear ...
Here's Why Momentum in DAVE INC (DAVE) Should Keep going
ZACKS· 2024-11-21 14:50
When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the st ...
Dave Appoints Kevin Frisch as Chief Marketing Officer
GlobeNewswire News Room· 2024-11-19 21:05
LOS ANGELES, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Dave Inc. (Nasdaq: DAVE), one of the nation’s leading neobanks, announced today that Kevin Frisch has been appointed Chief Marketing Officer. In this role, Frisch will lead all facets of Dave's marketing strategy, including brand, content, product marketing, acquisition, cross-sell, retention, and overall go-to-market. Frisch brings a wealth of experience in delivering transformative marketing strategies that drive team empowerment and performance, enhance cust ...
Dave(DAVE) - 2024 Q3 - Earnings Call Transcript
2024-11-16 02:02
Dave Inc. (NASDAQ:DAVE) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Jason Wilk - CEO Kyle Beilman - CFO Conference Call Participants Devin Ryan - Citizens JMP Harold Goetsch - B. Riley Securities Jacob Stephan - Lake Street Capital Markets Mark Palmer - The Benchmark Company Gary Prestopino - Barrington Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Dave's Financial Results for the Third Quarter Ended September ...
Dave(DAVE) - 2024 Q3 - Quarterly Report
2024-11-12 21:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to _______ Commission file number: 001-40161 DAVE INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 86-1481509 (State or other jurisdic ...
Dave(DAVE) - 2024 Q3 - Quarterly Results
2024-11-12 21:11
[Preliminary Financial Results for Third Quarter 2024](index=1&type=section&id=Preliminary%20Financial%20Results%20for%20Third%20Quarter%202024) Dave reported strong preliminary Q3 2024 financial results, showing significant revenue growth and a shift to net income Q3 2024 Preliminary Financial Highlights (unaudited) | Metric | Q3 2024 (in millions) | YoY Increase (Percentage) | | :--- | :--- | :--- | | Revenue | $92.5 | 41% | | Net Income | $0.5 | $12.5 | | Adjusted EBITDA* | $24.7 | $27.2 | - The reported Net Income of **$0.5 million** for the quarter includes a **$7.0 million** legal settlement and litigation reserve related to the FTC matter[1](index=1&type=chunk) - These financial results are preliminary, unaudited, and subject to adjustment in the final Form 10-Q filing[4](index=4&type=chunk)[9](index=9&type=chunk) [Management Commentary and Outlook](index=1&type=section&id=Management%20Commentary%20and%20Outlook) Management highlighted record accelerating revenue growth and profitability, planning to raise full-year 2024 guidance - Management described Q3 as another **record quarter** of accelerating revenue growth and profitability, demonstrating the continued strength of the business[2](index=2&type=chunk) - Due to strong year-to-date performance, Dave plans to **raise its full-year 2024 guidance** for both Revenue and Adjusted EBITDA[2](index=2&type=chunk) [Statement Regarding FTC Matter](index=1&type=section&id=Statement%20Regarding%20FTC%20Matter) The company addressed the FTC lawsuit, asserting strong defenses against claims related to consumer disclosures and consent - The FTC's lawsuit asserts claims regarding Dave's consumer disclosures and how the company acquires consent for fees[3](index=3&type=chunk)[5](index=5&type=chunk) - The company clarifies that the FTC action does not question its ability to charge subscription fees, optional tips, and express fees going forward[3](index=3&type=chunk)[5](index=5&type=chunk) - Dave has **not made any changes to its financial forecast** as a result of the FTC's action and intends to vigorously defend itself, viewing the case as 'regulatory overreach'[3](index=3&type=chunk)[5](index=5&type=chunk) [Non-GAAP Financial Measures and Reconciliation](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliation) This section defines Adjusted EBITDA as a key non-GAAP measure and provides a detailed reconciliation from GAAP net income (loss) - Adjusted EBITDA is a **non-GAAP measure** defined as GAAP net income (loss) adjusted for interest, taxes, depreciation, amortization, stock-based compensation, legal settlement expenses, and other non-core items[10](index=10&type=chunk) Reconciliation of Net Income (Loss) to Adjusted EBITDA (Loss) (in millions) | Line Item | Q3 2024 | Q3 2023 | | :--- | :--- | :--- | | **Net income (loss)** | **$0.5** | **($12.1)** | | Stock-based compensation | $13.4 | $6.7 | | Legal settlement and litigation expenses | $7.0 | $— | | Other adjustments (Interest, D&A, etc.) | $3.8 | $2.9 | | **Adjusted EBITDA (loss)** | **$24.7** | **($2.5)** | [Conference Call Information](index=2&type=section&id=Full%20Earnings%20Release%20and%20Conference%20Call) Dave will host a conference call on November 12, 2024, to discuss full Q3 2024 financial results, preceded by a press release - The full earnings release and conference call are scheduled for **Tuesday, November 12, 2024, at 5:00 p.m. ET**[6](index=6&type=chunk)
Dave Reports Record Third Quarter 2024 Results and Raises Full Year 2024 Guidance
GlobeNewswire News Room· 2024-11-12 21:10
Core Insights - Dave Inc. reported a record Q3 revenue of $92.5 million, representing a 41% year-over-year growth, marking the fourth consecutive quarter of accelerating revenue growth [1][4] - The company achieved a net income of $0.5 million, an increase of $12.5 million year-over-year, and an adjusted EBITDA of $24.7 million, up $27.2 million year-over-year [1][8] - Dave has raised its 2024 revenue and adjusted EBITDA guidance, now expecting revenues between $340 million and $343 million and adjusted EBITDA between $71 million and $74 million [7][8] Financial Performance - Q3 2024 operating revenues were $92.5 million, up from $65.8 million in Q3 2023, reflecting a 41% increase [4][18] - Adjusted EBITDA margin reached 27%, with a sequential growth of 63% in adjusted EBITDA [8][2] - The company reported a variable profit margin of 69%, up from 57% year-over-year [4][22] Member Growth and Engagement - New members increased by 4% to 854,000, while monthly transacting members rose by 23% to 2.4 million [5] - Customer acquisition costs decreased by 14% to $15, indicating improved efficiency in acquiring new customers [5] - ExtraCash originations increased by 46% to $1.4 billion, with an average 28-day delinquency rate improving by 64 basis points to 1.78% [5] Strategic Developments - The company announced a non-binding letter of intent to form a strategic partnership with a respected fintech sponsor bank to diversify its commercial relationships [3] - This partnership aims to enhance compliance and risk management capabilities for current and future credit and banking products [3] Liquidity Position - As of September 30, 2024, the company had $76.7 million in cash and cash equivalents, down from $89.7 million as of June 30, 2024 [6] - The decrease was primarily due to a $37.7 million increase in ExtraCash receivables [6]
DAVE INC (DAVE) Moves 21.8% Higher: Will This Strength Last?
ZACKS· 2024-11-07 22:41
Company Overview - Dave Inc. (DAVE) shares increased by 21.8% to $45.87 in the last trading session, following a period of 15.4% loss over the past four weeks, indicating a significant recovery in stock performance [1] - The company is experiencing accelerating revenue growth, attributed to rising Average Revenue Per User (ARPU) and an increase in monthly transacting members [2] Financial Performance - DAVE is expected to report quarterly earnings of $0.49 per share, reflecting a year-over-year increase of 148.5% [2] - Revenue projections for the upcoming quarter are set at $80.73 million, which is a 22.7% increase compared to the same quarter last year [2] Market Trends - Trends in earnings estimate revisions are closely linked to near-term stock price movements, suggesting that monitoring these trends is crucial for understanding stock performance [3] - The consensus EPS estimate for DAVE has remained unchanged over the last 30 days, indicating a potential stagnation in earnings revisions [4] Industry Context - DAVE Inc. operates within the Zacks Technology Services industry, which includes other companies like Rackspace (RXT) [4] - Rackspace's consensus EPS estimate has also remained unchanged at -$0.08, representing a 100% decline compared to the previous year [5]