---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-218761"
form_type: "8-K"
ticker: "DAVE"
cik: "0001841408"
company_name: "Dave Inc./DE"
filed_at: "2022-08-12T23:59:59+00:00"
generated_at: "2026-06-24T00:28:45.695849+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Dave Inc. restates prior financials; Q2 revenue $47M, adj EBITDA loss $28.5M

## Summary
- Non-reliance on 2021/2020 audited financials and Q1 2022 unaudited financials due to cash flow and earnout accounting errors.
- Q2 2022 non-GAAP operating revenue $47.0M (+22.4% YoY); adjusted EBITDA loss $28.5M vs loss $4.5M in Q2 2021.
- Revised FY2022 outlook: non-GAAP operating revenue $200-215M; variable profit margin 40-44%.
- Cash flow reclassification (member advances) and earnout reclassification (equity to liability) are non-cash with no impact to cash or net income.
- Material weaknesses in internal control over financial reporting persist; remediation plan ongoing.

## SEC filing metadata
- accession: 0001193125-22-218761
- form_type: 8-K
- ticker: DAVE
- cik: 0001841408
- company_name: Dave Inc./DE
- filed_at: 2022-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1841408/000119312522218761/0001193125-22-218761-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1841408/000119312522218761/d375988d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-218761
- JSON: https://secwatch.observer/filing/0001193125-22-218761.json
- Plain text: https://secwatch.observer/filing/0001193125-22-218761.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.