Record Q3 Revenue of $150.8 Million, up 63% Y/Y Driven by Accelerating MTM Growth and Record ARPU Record Q3 ExtraCash Monetization Rate Net of Losses of 4.8%, up 45bps Y/Y as Originations Grew 49% to over $2 Billion; Improving Credit Performance Supported Further Net Monetization Rate Expansion Q/Q Record Profitability—Net Income hits $92.0 Million; Adjusted Net Income Increases 193% to $61.6 Million; Adjusted EBITDA Increases 137% to $58.7 Million Raises 2025 Revenue and Adj. EBITDA Guidance to $544 - $54 ...

Core Insights - Dave Inc. has fully implemented CashAI v5.5, an advanced AI-driven cash flow underwriting engine that nearly doubles its feature set compared to previous models, optimizing for the new fee structure [2][4] - The new model is expected to enhance credit performance, increase average approval amounts, and reduce delinquency and loss rates, with full benefits anticipated in the fourth quarter of 2025 [2][4] Company Overview - Dave Inc. is a leading neobank in the U.S., utilizing disruptive technologies to provide banking services at lower costs compared to traditional banks [5] - The company serves millions of everyday Americans and offers products like ExtraCash™ through partnerships with banks [5] Technology and Data Utilization - CashAI assesses credit risk in real-time by analyzing cash flow data from members' primary bank accounts, leveraging insights from 150 million ExtraCash™ originations and billions of bank transactions [3] - The extensive dataset and rapid training feedback from ExtraCash™ provide a competitive advantage in consumer credit underwriting [3] Leadership and Vision - The CEO of Dave emphasized that CashAI is a key differentiator for the company, driving consistent and profitable credit outcomes while enhancing access to credit for consumers [4]