Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Dave Inc. due to allegations of misleading business information issued by the company [1] Group 1: Legal Actions and Allegations - The Justice Department and the Federal Trade Commission announced a civil enforcement action against Dave Inc. and its CEO Jason Wilk for alleged violations of the FTC Act and the Restore Online Shoppers' Confidence Act [3] - The lawsuit claims that Dave misled consumers through deceptive advertising of cash advances, hidden fees, misrepresentation of customer tips usage, and recurring monthly fees without an easy cancellation mechanism [3] Group 2: Market Reaction - Following the announcement of the lawsuit, Dave's share price fell by 8% on December 31, 2024 [4] Group 3: Class Action Information - Investors who purchased Dave securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees due to a contingency fee arrangement [2] - Interested investors can join the class action by submitting a form or contacting the Rosen Law Firm directly [2] Group 4: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and being ranked highly in the field since 2013 [5] - In 2019, the firm secured over $438 million for investors, showcasing its capability in recovering investor losses [5]

Core Points - Dave & Buster's has launched the UFC Challenge game, enhancing its partnership with UFC and aiming to elevate the fight-night experience for fans [1][4][11] - The game is available at all Dave & Buster's locations nationwide, designed to provide an immersive and interactive experience for UFC fans [2][5][6] Company Overview - Dave & Buster's operates 232 venues across North America, offering a combination of dining and entertainment experiences [12] - The company features a full menu and a variety of entertainment attractions, including arcade games and live sports viewing [12] UFC Partnership - The partnership with UFC, first announced in 2022, has positioned Dave & Buster's as a premier venue for UFC events, showcasing fights on over 30 HD TVs [4][11] - The UFC Challenge game was developed in collaboration with multiple partners, including Rider & IGPM Distribution and Adrenaline Amusements [5][11] Game Features - The UFC Challenge game is a large, interactive arcade game that tests players' speed, accuracy, and endurance, standing 12 feet tall and weighing 1,700 pounds [5] - It includes single-player and two-player modes, allowing fans to engage in competitive gameplay with authentic UFC branding and visuals [8] Upcoming Events - Dave & Buster's will host UFC Pay-Per-View events and Fight Nights, ensuring fans have an optimal viewing experience [7][9]

Los Angeles, March 10, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (NASDAQ: DAVE), one of the nation’s leading neobanks, today announced that its Board of Directors has authorized a share repurchase program to buy back up to $50 million of its outstanding Class A common stock. The repurchase program does not have a fixed expiration date and may be executed from time to time based on market conditions, liquidity, and other strategic considerations. Subject to market conditions, the Company e ...

Financial Performance - Operating revenues increased from $259.1 million in 2023 to $347.1 million in 2024, reflecting significant growth[138]. - The company has recently achieved profitability, but there is no guarantee of sustaining it, as it has historically incurred losses since its incorporation in October 2015[173]. - The company anticipates that its growth rate will decline in the future due to increasing business scale and market conditions[138]. - The company may require additional capital to support growth, which may not be available on favorable terms[146]. - Changes in debit interchange rates could adversely affect the company's financial position and results, as interchange revenues are a significant percentage of total operating revenues[171]. - Elevated interest rates may reduce consumer spending and increase delinquencies, defaults, and charge-offs, adversely affecting the company's business[175]. - Economic factors such as interest rates, inflation, and consumer confidence significantly impact the company's revenue and consumer spending behavior, potentially leading to reduced usage of ExtraCash products[200]. - The financial condition of commercial partners is crucial; deterioration or bankruptcy of partners may lead to higher charge-off rates and impact recoveries[202]. Regulatory and Compliance Risks - The company is subject to extensive regulation under federal, state, and local laws, which could lead to increased compliance costs and operational restrictions[225]. - The company faces risks related to compliance with various laws and regulations, including anti-money laundering and anti-terrorism financing laws, which could adversely affect its business and financial condition[249]. - The regulatory landscape is evolving, with potential new laws and interpretations that could materially affect the company's business model and operations[220]. - The company has received inquiries from state regulators regarding licensing requirements, which could lead to fines or operational restrictions if found in violation[237]. - The company could face significant monetary costs or penalties if found in violation of state licensing or consumer finance laws[240]. - Compliance with privacy and data protection laws may result in higher operational costs and restrict the company's ability to provide certain products and services[242]. - Future laws and regulations regarding data protection could require the company to modify its platform, potentially impacting its ability to develop new functionalities[245]. - The CFPB finalized a rule in October 2024 to establish a regulatory framework for open banking, which may limit the company's ability to collect and use Members' data for cross-marketing[247]. Operational Risks - The company faces risks related to the performance of ExtraCash receivables, which are not secured or insured, potentially leading to higher than expected credit losses[114]. - The company relies on third-party vendors for critical services, including payment processing and cloud infrastructure, which poses risks if these vendors fail to comply with legal requirements[131]. - The company may face adverse effects on its business if third-party vendors terminate agreements or fail to provide services on acceptable terms[133]. - The company relies on software that is complex and may contain undetected errors, which could lead to service disruptions and negatively impact its reputation[158]. - The company is exposed to operational risks from misconduct and errors by employees and third-party service providers, which could lead to reputational damage and financial liabilities[180]. - The company’s partnership with banks is subject to regulatory scrutiny, which could impact its ability to offer certain products and services[210]. - The company may incur overdraft exposure due to late-posting transactions, which could result in financial liabilities[154]. - The company has identified material weaknesses in its internal control over financial reporting for the years ended December 31, 2023, and 2022, which may adversely affect its ability to accurately report financial results[188]. Market and Competitive Risks - The company may experience pricing pressure as the market matures and competitors introduce new products or services[117]. - The company’s ability to settle ExtraCash overdrafts is dependent on consumers' financial stability, which may be impacted by economic factors such as job loss or inflation[115]. - The company faces challenges in accurately assessing Member qualifications due to potential inaccuracies in information provided by third parties[150]. - Negative publicity regarding the company's platform or the fintech industry could harm its reputation and consumer confidence, adversely affecting business operations[177]. - The company faces challenges in maintaining its culture and retaining key personnel, which are critical for its growth and operational effectiveness[178][179]. Legal Risks - The company is currently involved in litigation with the FTC regarding alleged violations of consumer protection laws, which could result in significant monetary relief and operational changes[212]. - The company is actively litigating a class action lawsuit filed in December 2022, with uncertain outcomes[215]. - Legal proceedings and regulatory actions could result in significant costs and reputational harm, impacting the company's overall financial condition and operating results[250]. Capital Structure and Shareholder Issues - The dual class structure of the company's common stock concentrates voting control with the CEO, potentially limiting other shareholders' influence on corporate matters[254]. - The company's stock price is volatile and subject to fluctuations based on various factors, including operating results and market conditions[256]. - The company has never paid cash dividends and intends to retain future earnings to fund business growth, making capital appreciation the sole source of gain for shareholders[258]. - The company has issued additional shares under an employee incentive plan, which may dilute existing shareholders' interests[277]. - As of February 20, 2025, current officers and directors hold approximately 16% of the outstanding shares, including shares convertible into common stock[278]. Debt and Financial Obligations - The company has drawn $75.0 million from its $150.0 million Debt Facility, which matures in December 2026[287]. - The company's ability to service the Debt Facility depends on generating sufficient cash flow from operations or available cash[288]. - The Debt Facility includes financial covenants that may restrict operational flexibility and require diversion of funds from other uses[289]. - The company guarantees certain obligations of its wholly-owned subsidiary, Dave OD Funding, which also has a Debt Facility with similar financial covenants[291].

Dave (DAVE) Q4 2024 Earnings Call March 04, 2025 06:40 PM ET Company Participants Jason Wilk - Co-Founder, CEO, President & ChairmanKyle Beilman - Chief Financial OfficerJoseph Vafi - Managing Director, Equity ResearchHal Goetsch - Managing Director Conference Call Participants Jacob Stephan - Senior Research AnalystJeff Cantwell - Senior Equity AnalystGary Prestopino - Vice President & Senior Research Analyst Operator Good morning, everyone, and thank you for participating in today's conference call to dis ...

Financial Data and Key Metrics Changes - The company achieved a record-setting fourth quarter with total revenue reaching $100.9 million, a 38% increase year-over-year [32] - Adjusted EBITDA for the quarter was $33.4 million, with adjusted net income improving to $29.6 million compared to $6.6 million in Q4 2023 [42][43] - Non-GAAP variable profit increased 58% year-over-year to $72.6 million, achieving a 72% margin relative to total revenue [34] Business Line Data and Key Metrics Changes - Multi-transacting members (MTMs) grew 17% year-over-year to 2.5 million, supported by a 12% increase in marketing spend [14][12] - Extra cash originations reached a record $1.5 billion, up 44% year-over-year and 9% quarter-over-quarter [15] - Average extra cash size grew 17% year-over-year, driven by the new fee structure and the V5 cash AI underwriting model [16] Market Data and Key Metrics Changes - The 28-day delinquency rate improved by 24% year-over-year, reflecting the effectiveness of the cash AI underwriting model [18] - The average tenure of MTMs increased by 22% year-over-year, indicating improved member retention [20] Company Strategy and Development Direction - The company focuses on three strategic pillars: acquiring new members efficiently, engaging them through extra cash, and deepening relationships via the Dave Card [11] - A new fee structure for ExtraCash was implemented, which is expected to enhance monetization and member retention [9][10] - The partnership with Coastal Community Bank aims to leverage their scale and compliance capabilities to enhance product offerings [24] Management Comments on Operating Environment and Future Outlook - Management expressed optimism for continued growth in 2025, expecting another record year of revenue and profitability [29] - The company remains confident in its legal position regarding ongoing litigation and has implemented product changes to improve member experience [26][27] Other Important Information - The company plans to moderately expand marketing investments throughout 2025 while maintaining a disciplined focus on investment returns [13] - The balance sheet showed approximately $91.9 million in cash and cash equivalents, with total liquidity nearing $167 million [45] Q&A Session Summary Question: Can you elaborate on the new pricing model and its impact on monetization? - The new pricing model has improved monetization by providing a fixed fee structure, resulting in better ARPU and retention [52][53] Question: Are there enough opportunities to continue increasing marketing spend? - The company has diversified its acquisition channels and plans to invest where strong returns are observed [56][57] Question: What are the expectations for growth in service-based and transaction-based revenue? - Near-term opportunities are expected on the ARPU side due to the new fee model, with potential catalysts for service-based revenue growth [69][72] Question: How do you expect the provision for credit losses to change? - The provision for credit losses is expected to increase in absolute terms as originations grow, but the company remains confident in managing loss rates [73][75] Question: Can you explain the new partnership with Coastal Community Bank? - The partnership will enable the company to onboard new customers exclusively through Coastal, enhancing product offerings and operational efficiency [78][114]

Core Insights - Dave Inc. (DAVE) reported quarterly earnings of $2.04 per share, significantly exceeding the Zacks Consensus Estimate of $1.09 per share, and showing a substantial increase from $0.03 per share a year ago, resulting in an earnings surprise of 87.16% [1] - The company achieved revenues of $100.9 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 6.14% and up from $73.2 million year-over-year, marking four consecutive quarters of exceeding revenue estimates [2] - DAVE shares have increased approximately 15.8% year-to-date, outperforming the S&P 500's gain of 1.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.24 on revenues of $89 million, while for the current fiscal year, the estimate is $5.16 on revenues of $414.9 million [7] - The estimate revisions trend for DAVE Inc. is favorable, contributing to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Technology Services industry, to which DAVE belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - GDS Holdings, another company in the same industry, is expected to report a quarterly loss of $0.22 per share, with a year-over-year change of +64.5%, and revenues projected at $430.7 million, reflecting a 19.6% increase from the previous year [9]

Exhibit 99.1 "We closed out the year with record-setting results, delivering another quarter of exceptional growth and profitability," said Jason Wilk, Founder and CEO of Dave. "Our performance was underpinned by strong member demand and continued strength in our team's execution. ExtraCash originations were up 44% year-over-year supported by increased member growth and average origination per member. Our CashAI-powered underwriting continued to drive improvements in credit performance which contributed to ...

Record Q4 Revenue up 38% Y/Y to $100.9 Million; FY24 Revenue up 34% to $347.1 Million Q4 Net Income Increases $16.6 Million Y/Y to $16.8 Million; Adj. EBITDA increases 234% Y/Y to $33.4 Million, Significantly Exceeding High-End of Guidance Establishes Strong 2025 Revenue and Adjusted EBITDA Outlook LOS ANGELES, March 03, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced fourth quarter and full year results for the period ended ...

Dave Inc. (DAVE) will report fourth-quarter 2024 results on Mar. 3, after market close.See Zacks Earnings Calendar to stay ahead of market-making news.The consensus estimate for total earnings is pinned at $4.22 per share, whereas it incurred a loss of $4.07 a year ago. Image Source: Zacks Investment Research The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $341.3 million, suggesting 31.7% growth on a year-over-year basis. There has been no change in analyst estimates or ...