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 March 31, 2025 (I.R.S. Employer Identification No.) 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 ...

Dave Inc. (DAVE) came out with quarterly earnings of $2.48 per share, beating the Zacks Consensus Estimate of $1.54 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 61.04%. A quarter ago, it was expected that this company would post earnings of $1.09 per share when it actually produced earnings of $2.04, delivering a surprise of 87.16%.Over the last four quarters, the company has su ...

Financial Data and Key Metrics Changes - The company reported record high total revenue of $108 million for Q1 2025, representing a year-over-year growth of 47% [18] - Adjusted EBITDA reached $44.2 million, more than tripling from $13.2 million in Q1 of the previous year, driven by revenue growth and variable margin expansion [25][29] - Non-GAAP variable profit grew 67% year over year to $83.4 million, with variable margin reaching 77%, up nearly 950 basis points year over year [19] Business Line Data and Key Metrics Changes - Monthly transacting members (MTMs) grew 15% year over year to 12.4 million, with a record 2.5 million MTMs engaging in transactions [8][10] - Average revenue per user (ARPU) expanded by 29% year over year, marking the seventh consecutive quarter of double-digit ARPU growth [15][29] - Extra Cash originations exceeded $1.5 billion, representing a 46% year-over-year increase [10] Market Data and Key Metrics Changes - The company transitioned to a new fee structure for Extra Cash, resulting in approximately 60% of total originations being under the new model in Q1 [6][7] - The average size of an Extra Cash origination increased by 21% year over year to $192, with March seeing an average size of over $200 [10][15] Company Strategy and Development Direction - The company focuses on three strategic growth pillars: efficient member acquisition, enhanced member engagement through Extra Cash, and deepening relationships via the Dave Card [7] - A strategic partnership with Coastal Community Bank is expected to enhance product offerings and compliance capabilities, with onboarding of new customers planned for early Q3 [16] - The company is committed to disciplined investments in product development and data capabilities throughout the year [24][86] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage credit risk through its Cash AI underwriting engine, which allows for real-time credit risk evaluation [12][22] - The company raised its full-year 2025 guidance for revenue to a range of $460 million to $475 million, reflecting a year-over-year growth of 33% to 37% [28] - Management remains optimistic about the demand for products and the potential for further ARPU expansion due to the full rollout of the new fee structure [74] Other Important Information - The company reported a GAAP net income decline to $28.8 million from $34.2 million in Q1 of the previous year, primarily due to a non-recurring gain from a convertible note repurchase [24] - The company has approximately $89.7 million in cash and cash equivalents as of the quarter-end, with a share repurchase program authorized for $50 million [26][27] Q&A Session Summary Question: Update on Extra Cash market share and average advances - Management indicated that the total addressable market for Extra Cash remains large, with 150 million potential users in the U.S. [33] - The increase in advance sizes is expected to provide more flexibility for members without reducing the number of advances taken [34] Question: Correlation between new pricing structure and credit performance - Management reported no adverse effects from the new pricing structure, with credit performance hitting an all-time low and positive customer adaptation [42][43] Question: Guidance on ARPU and MTM growth - Management expects continued growth in MTMs and ARPU, driven by the new pricing structure and optimization of credit offers [46] Question: Customer re-engagement and average origination sizes - Management noted that repeat customers account for 97-98% of dollar value originations, with improvements in credit offerings contributing to larger average origination sizes [85] Question: Increased expenditures for product development - Management confirmed plans for disciplined investments in product development and marketing spend throughout the year [86]

Financial Data and Key Metrics Changes - The company reported record high total revenue of $108 million for Q1 2025, representing a year-over-year growth of 47% [18] - Adjusted EBITDA reached $44.2 million, more than tripling from $13.2 million in Q1 of the previous year, driven by revenue growth and variable margin expansion [24][27] - Non-GAAP variable profit grew 67% year over year to $83.4 million, with variable margin reaching 77%, up nearly 950 basis points year over year [19] Business Line Data and Key Metrics Changes - Monthly transacting members (MTMs) increased by 13% year over year to a record 2.5 million [10] - Average revenue per user (ARPU) expanded by 29% year over year, attributed to the new fee structure [15] - Extra cash originations exceeded $1.5 billion, representing a 46% year-over-year increase [11] Market Data and Key Metrics Changes - The company has approximately 12.4 million total members, reflecting a 15% year-over-year growth [8] - The average size of an extra cash origination expanded by 21% year over year to $192 [11] - The 28-day delinquency rate improved by 33 basis points or 18% year over year to 1.5% [12] Company Strategy and Development Direction - The company is focused on three strategic growth pillars: efficient member acquisition, enhanced member engagement through extra cash, and deepening relationships via the Dave card [7] - A new fee structure was implemented, consisting of a flat 5% fee on all extra cash transactions, which has improved member lifetime value [6] - The company plans to transition to a new banking partner, Coastal Community Bank, to enhance its product offerings and compliance capabilities [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage credit risk and optimize underwriting through the Cash AI system [13] - The company raised its full-year 2025 guidance for both revenue and adjusted EBITDA, reflecting strong momentum and performance [6][27] - Management noted that the tax refund season typically boosts credit performance, and they expect normalization of delinquency rates throughout the year [14][21] Other Important Information - The company has authorized a $50 million share repurchase program, reflecting confidence in its financial strength and growth trajectory [26] - The effective tax rate for the year to date was approximately 15%, with an estimated annual effective tax rate of 21-23% for 2025 [24] Q&A Session Summary Question: Update on market share for Extra Cash and potential impact of larger advances - Management indicated that there is still significant room for growth in the market, with approximately 150 million people in the U.S. potentially using Extra Cash [33] - The increase in advance sizes is expected to provide more flexibility for members without reducing the frequency of advances [34] Question: Correlation between new pricing structure and credit performance - Management reported no adverse effects from the new pricing structure, with credit performance improving positively [42][43] Question: Insights on customer acquisition costs and channels - The increase in customer acquisition cost (CAC) is attributed to a focus on optimizing channels based on lifetime value (LTV) rather than solely minimizing CAC [61] Question: Engagement and growth of the Dave Card - Management noted that there is significant organic synergy between Extra Cash and the Dave Card, with plans to enhance product features to drive further engagement [70] Question: Repeat usage and customer engagement metrics - Approximately 97-98% of dollar value originations come from repeat customers, indicating strong engagement and potential for cross-selling [85]

1Q 25 Earnings Presentation May 8, 2025 Disclaimer 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," "targets," "anticipates," "remains," "should," "belie ...

Exhibit 99.1 Dave Reports First Quarter 2025 Financial Results Q1 Revenue Hits $108.0 Million, Representing Accelerating Growth of 47% Y/Y Q1 Net Income Reaches $28.8 Million; Adj. EBITDA Increases 235% Y/Y to $44.2 Million Raises 2025 Revenue and Adj. EBITDA Guidance to $460-$475 Million and $155-$165 Million, respectively LOS ANGELES, CA – May 8, 2025 – Dave Inc. ("Dave" or the "Company") (Nasdaq: DAVE), one of the nation's leading neobanks, today reported its financial results for the first quarter ended ...

Financial Performance - Q1 revenue reached $108.0 million, reflecting a year-over-year growth of 47% [1][4] - Net income for Q1 was $28.8 million, while Adjusted EBITDA surged 235% year-over-year to $44.2 million [1][2] - The company raised its 2025 revenue guidance to a range of $460-$475 million and Adjusted EBITDA guidance to $155-$165 million [1][10] Operational Highlights - ExtraCash originations increased by 46% year-over-year to over $1.5 billion, despite typical seasonal demand patterns [3][8] - The 28-day delinquency rate improved by 33 basis points year-over-year, reaching 1.50% [3][8] - Monthly Transacting Members (MTMs) grew by 13% to 2.5 million, with new member acquisition costs remaining efficient at $18 [8] Profitability Metrics - Non-GAAP variable profit for Q1 was $83.4 million, with a variable profit margin of 77%, nearly doubling over the past three years [4][27] - Adjusted net income for Q1 was $36.3 million, compared to $8.1 million in Q1 2024 [30] - The company reported a significant increase in Adjusted EBITDA, which rose to $44.2 million from $13.2 million in the same quarter last year [29] Liquidity and Capital Management - As of March 31, 2025, the company had $89.7 million in cash and cash equivalents, down from $91.9 million at the end of 2024 [9][32] - The Board authorized a $50 million share repurchase program, with over $20 million deployed during the quarter [12]

Group 1 - Dave Inc. (DAVE) is set to release its first-quarter 2025 results on May 8, before market open, and has surpassed the Zacks Consensus Estimate in the last four quarters with an average earnings surprise of 345.7% [1] - The Zacks Consensus Estimate for Dave's revenues is $91.6 million, indicating a 24.5% increase from the same quarter last year, driven by growth in multi-transacting members, stable customer acquisition costs, and improved member retention [3] - The earnings consensus estimate is $1.54 per share, reflecting a more than 100% increase from the year-ago quarter, supported by disciplined cost management [4] Group 2 - Dave's Earnings ESP is -34.85% with a Zacks Rank of 3 (Hold), suggesting that an earnings beat is not predicted this time [5] - Continued growth in engagement with the Dave Card, along with an increase in banking active customers and card spending, is expected to contribute to revenue growth [4]

Core Points - Dave & Buster's Entertainment, Inc. announced the nomination of Allen R. Weiss and Nathaniel J. Lipman for election to its Board of Directors, with existing members Michael Griffith, Gail Mandel, and Jennifer Storms not seeking reelection [1][2] - The nominations come at a pivotal time for the company, as stated by Kevin Sheehan, Board Chair and Interim CEO, highlighting the nominees' industry expertise and value creation track records [2] About Allen R. Weiss - Allen R. Weiss has extensive experience in the entertainment industry, having served on various boards including Dick's Sporting Goods and CEC Entertainment, and was the former president of worldwide operations for Walt Disney Parks and Resorts, a business exceeding $10 billion with 95,000 employees [3] - Weiss has over 20 years of executive experience in finance, marketing, sales, and operations, holding an MBA and a Bachelor of Science in Business Administration [3] About Nathaniel (Nat) J. Lipman - Nathaniel J. Lipman has significant experience as a director for both public and private companies, including roles at United Parks & Resorts and Trusted Media Brands, and has served on boards of companies like Diamond Resorts International and Redbox Automated Holdings [4] - Lipman has a background in legal and finance roles within the travel and entertainment industry, including positions at Planet Hollywood and The Walt Disney Company, holding a Juris Doctor degree and a Bachelor of Arts in Political Economy [4] About Dave & Buster's Entertainment, Inc. - Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster's operates 233 venues in North America, offering entertainment and dining experiences through its brands: Dave & Buster's and Main Event [5] - The company has 172 Dave & Buster's locations across 43 states, Puerto Rico, and Canada, providing a full menu and a variety of entertainment attractions [5] - Additionally, Dave & Buster's operates 61 Main Event stores in 22 states, featuring bowling, laser tag, arcade games, and virtual reality experiences [5]

The market expects Dave Inc. (DAVE) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...