Core Insights - Dave Inc. reported a significant revenue growth of 64% year-over-year, reaching $131.7 million in Q2 2025, marking the fastest growth rate in over five years [1][2] - The company raised its 2025 revenue guidance to a range of $505-$515 million and adjusted EBITDA guidance to $180-$190 million, reflecting strong confidence in continued growth [1][7] Financial Performance - Net income increased by 42% year-over-year to $9.1 million, while adjusted net income surged 233% to $45.7 million [1][2] - Adjusted EBITDA rose 236% to $50.9 million, representing a 39% margin [1][2] - GAAP EPS (diluted) increased by 32% to $0.62, and adjusted EPS (diluted) grew 210% to $3.14 [1][2] Operational Highlights - The number of new members increased to 722,000, with an average customer acquisition cost of $19 [5] - Monthly Transacting Members (MTMs) rose 16% to 2.6 million, and ExtraCash originations increased by 51% to $1.8 billion [5] - Dave Debit Card spending grew by 27% to $493 million [5] Liquidity and Capital Resources - As of June 30, 2025, the company had $104.7 million in cash and cash equivalents, up from $89.7 million at the end of Q1 2025 [6] - The increase in liquidity was primarily due to free cash flow generation, despite a rise in ExtraCash receivables [6] Future Outlook - The company expressed strong confidence in its long-term growth potential, emphasizing innovation and member value [2][8] - An amendment to the program agreement with Coastal Community Bank is expected to enhance liquidity and reduce funding obligations [9]

Core Insights - Dave Inc. (DAVE) is set to report its second-quarter 2025 results on August 6, with earnings per share (EPS) expected to rise by 88.1% year-over-year to $1.9, and revenues projected at $112.7 million, indicating a 40.7% growth compared to the previous year [1][6]. Financial Performance - The consensus estimate for Q2 EPS is $1.90, unchanged over the past 60 days, while revenue estimates have shown a slight downward revision [2]. - DAVE has a strong earnings surprise history, surpassing the Zacks Consensus Estimate in the last four quarters with an average surprise of 274.5% [2]. Membership Growth and Revenue Drivers - DAVE reported 12.4 million members in Q1 2025, an increase of 569,000 from the previous year, driven by a new flat fee structure for ExtraCash transactions [5]. - The new fee model has improved monetization and conversion rates, contributing positively to user acquisition and retention [5][16]. Stock Performance - DAVE's stock has surged 661.1% over the past year, significantly outperforming its industry growth of 71.2% and the S&P 500's 20.8% increase [6][7]. - The current trailing 12-month price-to-earnings (P/E) ratio for DAVE is 22.01X, slightly below the industry average of 22.9X, but higher than peers like Jamf and Inspired Entertainment [9]. Profitability and Liquidity - DAVE exhibits strong profitability with a trailing 12-month return on equity (ROE) of 59.2%, compared to the industry average of 6.7%, and a return on invested capital (ROIC) of 26.7% [12]. - The company maintains a robust liquidity position with a current ratio of 8.59, significantly higher than the industry average of 1.84, indicating strong short-term financial health [12]. Market Position and Risks - DAVE serves the underbanked population, capitalizing on the growing neobank market and mobile banking trends, presenting significant growth opportunities [13]. - The company has implemented CashAI, a proprietary underwriting technology, which has improved ExtraCash origination by 46% year-over-year to $1.5 billion in Q1 2025 [14]. - Despite these strengths, DAVE's focus on subprime customers poses inherent risks, as this demographic is more susceptible to default [15][17].

Media Contact Dan Ury press@dave.com 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-class banking services at a fraction of the price of incumbents. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X. Investor Relations Contact Sean Mansouri, CFA Elevate IR DAVE@elevate-ir.com LOS ANGELES, July 2 ...

Core Insights - Both OppFi Inc. (OPFI) and Dave (DAVE) are key players in the fintech sector, focusing on digital lending solutions for customers [1] - DAVE offers small, interest-free cash advances, while OPFI collaborates with banks to provide credit access to subprime and non-prime demographics using AI underwriting [1] Group 1: Dave's Performance - DAVE operates a subscription-based model charging $5 per month, providing various services including ExtraCash and financial management [2] - The ExtraCash service allows borrowing up to $500 without interest or credit checks, achieving a 46% growth in originations and a 29% increase in average revenues per user in Q1 2025 [3] - DAVE's revenue increased by 47% year-over-year, with adjusted EBITDA soaring by 235% in the March quarter, indicating strong operational leverage [3] - The company has improved its credit risk management through CashAI, reducing the 28-day delinquency rate by 18% year-over-year and lowering the provision for credit losses to 0.69% [4][12] - CashAI has enabled DAVE to resolve 90% of customer service tickets without agent involvement, enhancing efficiency [5] Group 2: OppFi's Performance - OPFI targets the underbanked population, leveraging AI and machine learning to serve subprime customers [6] - The company reported a 10.1% year-over-year revenue increase and a 285.1% rise in adjusted net income in Q1 2025, showcasing strong operating leverage [7] - OPFI's Model 6 has significantly reduced the net charge-off rate by 700 basis points from the previous quarter and by 1300 basis points year-over-year [8] - The company achieved a 16% year-over-year growth in net originations, aided by improved credit modeling [9] - An auto-approval rate of 79% reflects OPFI's effective credit evaluation models, enhancing its competitive position [10] Group 3: Financial Estimates and Valuation - The Zacks Consensus Estimate for DAVE's 2025 sales is $475.8 million, indicating a 37.1% year-over-year increase, with EPS expected to rise by 67.2% [13] - For OPFI, the 2025 sales estimate stands at $578.4 million, suggesting a 10% year-over-year growth, with EPS projected to increase by 29.5% [16] - OPFI is trading at a forward P/E ratio of 8.5X, while DAVE is at 18.53X, indicating that OPFI is valued lower than DAVE, making it potentially more attractive [19] Group 4: Comparative Analysis - DAVE is highlighted as the superior investment option in fintech, with significant revenue growth and operational efficiency driven by its AI-powered systems [21] - Despite OPFI's solid credit modeling, DAVE's subscription model, faster user growth, and stronger earnings revisions provide a competitive edge [22] - DAVE holds a Zacks Rank of 1 (Strong Buy), while OPFI has a Zacks Rank of 3 (Hold), further emphasizing DAVE's favorable position in the market [23]

Core Points - Dave Inc. will host a conference call on August 6, 2025, at 8:30 a.m. Eastern time to discuss its Q2 financial results for the period ending June 30, 2025 [1] - The financial results will be released in a press release prior to the conference call on the same day [1] Conference Call Details - Date and Time: August 6, 2025, at 8:30 a.m. Eastern time [2] - Toll-free dial-in number: (866) 652-5200; International dial-in number: (412) 317-6060 [2] - The conference call will be available for replay on the Company's website [2] Company Overview - Dave is a leading U.S. neobank and fintech pioneer, serving millions of everyday Americans [4] - The company utilizes disruptive technologies to offer competitive banking services at lower costs compared to traditional banks [4]

Core Points - Dave & Buster's Entertainment, Inc. announced the granting of stock options and performance stock units to Tarun Lal as part of his inducement to join the company as CEO [1][2] - The awards were approved by the Board under Nasdaq corporate governance rules and were granted on July 15, 2025 [1][2] Summary by Category Stock Options - Mr. Lal was granted a total of 124,766 stock options that will vest annually over three years from the grant date [2] - An additional 124,766 options will vest if the company's stock price doubles before February 1, 2028, contingent on Mr. Lal's continued employment [2] - Further, 83,177 options will vest if the stock price triples before February 1, 2028, also subject to continued employment [2] - An additional 31,191 options will vest annually over three years, conditioned on Mr. Lal purchasing $1,000,000 of the company's common stock by December 31, 2026 [2] Performance Stock Units (PSUs) - Mr. Lal was granted 124,766 PSUs that will be earned upon achieving same store sales growth metrics and will vest annually over two years [2] - Another 124,766 PSUs will be earned and vested based on achieving specific 2027 Adjusted EBITDA, average same store sales growth, and relative TSR metrics [2] Company Overview - Founded in 1982, Dave & Buster's operates 236 venues across North America, offering entertainment and dining experiences [3] - The company has 175 Dave & Buster's branded stores in 43 states, Puerto Rico, and Canada, providing a full menu and various entertainment attractions [3] - Additionally, the company operates 61 Main Event branded stores in 22 states, featuring bowling, laser tag, arcade games, and virtual reality experiences [3]

Company Performance - Dave Inc.'s shares have increased by 132.9% year-to-date, significantly outperforming the industry growth of 9.8% and the S&P 500 composite's rise of 6% [1] - Over the past three months, Dave's stock surged by 140.3%, again surpassing CoreCard's 38.9% and Qifu Technology's 47.6% growth [4] - The stock's strong performance has attracted investor interest, suggesting a potential long-term investment opportunity [4] Neobank Market Dynamics - The neobank market is projected to grow at a CAGR of 40.3% from 2025 to 2034, driven by the needs of the underbanked demographic [5] - Dave's ExtraCash service provides interest-free cash advances up to $500 without traditional credit checks, targeting underbanked consumers [6] - The company utilizes bank account history and spending patterns to assess creditworthiness, allowing it to serve sub-prime or non-prime consumers [6] Financial Metrics - Dave's current stock price is at 19.74X forward 12-month earnings per share, lower than the industry average of 23.35X, indicating a potentially attractive valuation [10] - The company's trailing 12-month ROE is 59.2%, significantly higher than the industry average of 6.6%, while its ROIC stands at 26.7% compared to the industry's -8.5% [12] - Dave's current ratio of 8.59 exceeds the industry average of 1.84, reflecting a strong liquidity position and the ability to cover short-term obligations [14] Revenue and Earnings Outlook - The Zacks Consensus Estimate projects 2025 revenues of $475.8 million, representing a 36.7% increase from the previous year, with further growth of 23.8% expected in 2026 [16] - The consensus estimate for 2025 earnings per share is $8.76, indicating a 67.2% surge from the prior year, with a 35.1% increase anticipated in 2026 [16] Investment Recommendation - Given the successful ExtraCash product, simplified fee structure, and promising results from CashAI in reducing credit risk, Dave is positioned as a compelling investment opportunity [17][18] - The company's strong fundamentals, discounted valuation, and robust financial metrics further support the recommendation for investors to buy the stock [18]

Company Performance - Dave Inc. has gained approximately 133% year-to-date, significantly outperforming the average gain of 0.8% in the Business Services sector [4] - The Zacks Consensus Estimate for Dave Inc.'s full-year earnings has increased by 69.7% over the past quarter, indicating improving analyst sentiment and a positive earnings outlook [3] - Dave Inc. currently holds a Zacks Rank of 1 (Strong Buy), reflecting its strong performance and favorable earnings estimates [3] Industry Context - Dave Inc. is part of the Technology Services industry, which includes 122 individual stocks and currently ranks 74 in the Zacks Industry Rank [6] - The average gain for the Technology Services industry so far this year is 9.6%, indicating that Dave Inc. is performing better than its industry peers [6] - Coherent, another stock in the Business Services sector, has also shown strong performance with a year-to-date increase of 1.4% and a Zacks Rank of 1 (Strong Buy) [4][5]

Core Insights - Dave & Buster's Entertainment, Inc. has appointed Tarun Lal as the new Chief Executive Officer effective July 14, 2025, following a comprehensive search by the Board of Directors [1][2] - The Board expressed confidence in Lal's ability to drive immediate impact and substantial shareholder value due to his successful track record in growing businesses [2] - Lal emphasized the potential for growth in both the Dave & Buster's and Main Event brands, highlighting their loyal customer bases and strong unit economics [2] Company Overview - Dave & Buster's Entertainment, Inc. operates 236 venues across North America, including 175 Dave & Buster's locations and 61 Main Event stores [4] - The company offers a unique combination of dining and entertainment experiences, allowing guests to "Eat Drink Play and Watch" in one location [4] - Main Event stores provide state-of-the-art entertainment options such as bowling, laser tag, and arcade games, catering to families [4] Leadership Background - Tarun Lal brings over 25 years of experience from Yum! Brands, where he served as President of KFC U.S. and held various leadership roles globally [3] - His previous roles included Global COO for KFC and Managing Director for KFC in multiple regions, where he led brand expansions and digital innovations [3]

Core Viewpoint - Dave Inc. has promoted Kyle Beilman to Chief Financial Officer and Chief Operating Officer, effective July 11, 2025, recognizing his significant contributions to the company's success and operational efficiency [1][2][3] Group 1: Leadership Changes - Kyle Beilman has been instrumental in driving the financial success and profitability of Dave since joining the company [2] - The expanded title of CFO and COO reflects Beilman's broad impact across the organization and his commitment to innovation and sustainable growth [2][3] Group 2: Company Overview - Dave is a leading neobank and fintech pioneer in the U.S., serving millions of everyday Americans with disruptive technologies [3] - The company aims to provide best-in-class banking services at a fraction of the cost compared to traditional banks [3]