Financial Data and Key Metrics Changes - Revenue for Q2 2024 reached $80.1 million, representing a 31% year-over-year increase, marking the third consecutive quarter of accelerating revenue growth [4][12] - Adjusted EBITDA for Q2 2024 was $15.2 million, compared to an adjusted EBITDA loss of $13.1 million in the prior year period, indicating a significant improvement in profitability [19][18] - GAAP net income improved to $6.4 million from a GAAP net loss of $22.6 million in the year-ago period [18] Business Line Data and Key Metrics Changes - Monthly transacting members (MTMs) grew 18% year-over-year to a record 2.3 million members [7][12] - Extra cash originations reached $1.2 billion, growing 37% year-over-year and 13% sequentially, driven by strong demand and an improved cash AI underwriting engine [8][12] - The average revenue per user (ARPU) increased by 11% year-over-year, attributed to higher extra cash utilization and stronger engagement with the Dave Card [10][12] Market Data and Key Metrics Changes - Customer acquisition costs (CAC) decreased by 26% year-over-year to $15, reflecting improved marketing efficiency [5][16] - The 28-day delinquency rate improved to 2.03%, down 80 basis points year-over-year, indicating enhanced credit performance [8][15] Company Strategy and Development Direction - The company is focused on efficient member acquisition and deepening relationships through the Dave Card, aiming to increase direct deposit adoption [5][9] - Plans to evaluate additional potential sponsor banks to diversify key partner relationships, enhancing growth opportunities [7] - The strategic focus remains on increasing customer value, expanding the member base, and leveraging technology for operational efficiency [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining efficient growth and maintaining positive adjusted EBITDA, despite potential fluctuations due to increased marketing investments [19][34] - The company is closely monitoring the impact of the election year on customer acquisition costs but has not observed any significant effects thus far [6] - Management remains optimistic about the regulatory environment, believing that their lower cost structure positions them favorably against traditional banks [27][40] Other Important Information - The company raised the bottom end of its full-year 2024 revenue guidance to a range between $310 million and $325 million, reflecting a growth of 20% to 25% compared to 2023 [21] - Adjusted EBITDA guidance for the full year was raised to a range between $40 million to $50 million, indicating continued profitability [21] Summary of Q&A Session Question: Insights on extra cash volume growth - Management noted strong demand dynamics and efficient customer acquisition costs, allowing for increased average advance sizes [24][25] Question: Impact of CFPB proposals on the business - Management believes they are well-positioned due to their lower cost structure and compliance with regulations, which may squeeze out less compliant players [27][28] Question: Sustainability of revenue growth and adjusted EBITDA - Management expressed confidence in maintaining 20%+ revenue growth and positive adjusted EBITDA, with some fluctuations expected due to marketing investments [33][34] Question: Relationship with Evolve and bank partnerships - Management confirmed a healthy relationship with Evolve and ongoing discussions with potential new bank partners for risk mitigation [36][37] Question: Customer acquisition cost effectiveness - Management highlighted improvements in word-of-mouth referrals and diversified marketing channels contributing to lower CAC [42]

Dave® 2Q 24 Earnings Presentation August 5, 2024 Disclaimer REGARDING FORWARD-J OOKING STATEMENTS FORWARD-LOOKING STATEMENTS This presentation of Dave Inc. ("Dave" or the "Company") includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "future," "growth," "opportunity," "well-positioned," "forecasts," "intends," "estimates," "seeks," "targe ...

The Federal Reserve appears set to begin cutting interest rates in September. In fact, the cuts may be rather aggressive, with some traders starting to bet on 50 rather than 25 basis point cuts to try to support the job market. At first glance, this might seem like good news for financial stocks. After all, the prior rapid increase in interest rates led to unfortunate side effects such as deposit flight and regional bank failures in 2023. So, reversing that could ease some tensions. But interest rate cuts a ...

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 June 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: | 001-401 ...

Exhibit 99.1 Dave Reports Record Second Quarter 2024 Results Record Q2 Revenue up 31% Y/Y to $80.1 Million; Y/Y Revenue Growth Accelerates for Third Consecutive Quarter Q2 GAAP Net Income Increases $29.0 Million Y/Y to $6.4 Million and Adj. EBITDA Increases $28.3 Million Y/Y to $15.2 Million Dave Raises 2024 Adjusted EBITDA Guidance to $40-$50 Million LOS ANGELES, CA – August 5, 2024 – Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today reported its financial resu ...

Media Contact Dan Ury press@dave.com "We are closely monitoring the recently proposed interpretive ruling from the CFPB around paycheck advance and earned wage access ("EWA"), a model which Dave was originally founded on, but transitioned away from beginning in 2022 due to a lack of certainty around the regulations," said Jason Wilk, Founder and CEO of Dave. "Dave's ExtraCash product is structured as a bank-originated overdraft with optional fees, which combats the excessive fees found at incumbent banks. A ...

About Dave Investor Relations Contact Sean Mansouri, CFA Elevate IR DAVE@elevate-ir.com LOS ANGELES, July 18, 2024 (GLOBE NEWSWIRE) -- Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today issued a statement regarding a proposal from the Consumer Financial Protection Bureau ("CFPB"): Forward-Looking Statements Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in ...

This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +106.3%. Revenues are expected to be $75.8 million, up 23.8% from the year-ago quarter. For Rackspace, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.11. This represents a change of -83.3% from what the company reported a year ago. Rackspace currently has a Zacks Rank of #3 (Hold). For DAVE INC, the consensus EPS esti ...

r b F 0 lies 0 -1 : 4 I I T Stock Chart From IPO (Seeking Alpha) Long-Term Store Growth Still Continues Long-term potential is seen at 550 stores as told in the 2023 investor day, showing confidence in a long runway. The store investments do take up significant capital and slow the potential ramp-up down, though, with capital expenditures of $330.2 million in FY2023. Dave & Buster's Valuation Has Some Upside The estimates put Dave & Buster's fair value estimate at $53.97, 21% above the stock price at the ti ...

Key Takeaways Dave & Buster's Entertainment (PLAY) shares slumped more than 10% in premarket trading on Thursday after the restaurant and entertainment chain posted quarterly results that fell short of expectations amid challenging economic conditions weighing on consumer demand. Breaking down the top line, the company's entertainment revenue, which makes up about two-thirds of net sales, fell 1.9% to $385.7 million, while revenue in its food and beverage business tallied $202.4 million, down from $204.2 mi ...