Dave Q3 revenue +41% to $56.8M, but GAAP net loss widens to $47.5M; FY guidance reiterated

Dave Inc./DE

2022-Q3 EPS reported -$0.29 revenue$145,163,000

GAAP operating revenue $56.8M (+41% YoY); Non-GAAP revenue $58.6M (+41% YoY).
GAAP net loss $47.5M vs $7.9M loss in Q3 2021; Adjusted EBITDA loss $27.5M vs $11.3M loss.
Non-GAAP variable profit margin improved to 42% from 39% in Q2 2022.
Added 808k net new members (total 7.8M); Monthly transacting members 1.8M (+18% sequentially).
Reiterated FY2022 guidance: Non-GAAP revenue $200-215M and variable profit margin 40-44%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dave Inc./DE reported third quarter ended September 30, 2022 results: revenue $ 56.8, net income ($ 47.5 ). Guidance reaffirmed.

Period: third quarter ended September 30, 2022
Revenue: $ 56.8
Net income: ($ 47.5 )
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Third Quarter 2022 Financial Highlights: ($ in millions except otherwise noted) 3Q21 4Q21 1Q22 2Q22 3Q22 GAAP Operating Revenues, Net $ 40.2 $ 41.2 $ 42.6 $ 45.8 $ 56.8 % Change vs. prior year period 26 % 16 % 24 % 23 % 41 % Non-GAAP Operating Revenues* $ 41.5 $ 42.2 $ 43.7 $ 47.0 $ 58.6 % Change vs. prior year period 26 % 16 % 23 % 22 % 41 % Non-GAAP variable profit margin* 48 % 48 % 41 % 39 % 42 % GAAP Net loss ($ 7.9 ) ($ 15.2 ) ($ 34.8 ) ($ 27.1 ) ($ 47.5 )

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Source: SEC EDGAR

accession 0001193125-22-282790

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