earnings
confidence high
sentiment negative
materiality 0.75
Dave Q1 revenue up 24% but net loss widens to $34.8M; reaffirms FY2022 guidance
Dave Inc./DE
2022-Q1 EPS reported
-$0.10
revenue$42,551,000
- GAAP revenue $42.6M (up 24% YoY from $34.4M); non-GAAP revenue $43.7M.
- Net loss $34.8M vs net income $3.9M in Q1 2021; adjusted EBITDA -$18.3M vs -$8.0M.
- Added 340k net new members, total 6.4M; 1.45M monthly transacting members.
- Non-GAAP variable profit margin 41% vs 64% YoY, driven by product mix.
- Reaffirms FY2022 non-GAAP revenue $200-230M and variable profit margin 44-48%.