Dave Q4 revenue $59.6M (+45% YoY), net loss $21.5M; FY23 guidance: revenue $235-260M, adj EBITDA -$50M to -$35M

Dave Inc./DE

Q4 GAAP revenue $59.6M (+45% YoY); net loss $21.5M (improved 55% QoQ); adj EBITDA loss $11.8M (improved 59% QoQ).
Q4 operating highlights: added 543k net new members; MTMs 1.9M; ExtraCash originations $801M; Dave Card spend $263M (+34% QoQ).
Full year 2022: GAAP revenue $204.8M (+34% YoY); net loss $128.9M; adj EBITDA loss $87.1M.
FY2023 guidance: non-GAAP revenue $235-260M; variable margin 43-47%; adj EBITDA loss $50M-35M.
Company reiterates timeline for adj EBITDA positive in 2024 without need to raise equity.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Dave Inc./DE reported the fourth quarter and full year ended December 31, 2022 results: revenue $59.6, net income ($21.5).

Period: the fourth quarter and full year ended December 31, 2022
Revenue: $59.6
Net income: ($21.5)
Result: reported results

Exact text from the filing

improved profitability.” Quarterly Financial Highlights ($ in millions unless otherwise noted) 4Q21 1Q22 2Q22 3Q22 4Q22 GAAP Operating Revenues, Net $ 41.2 $ 42.6 $ 45.8 $ 56.8 $ 59.6 % Change vs. prior year period 16 % 24 % 23 % 41 % 45 % Non-GAAP Operating Revenues* $ 42.2 $ 43.7 $ 47.0 $ 58.6 $ 61.8 % Change vs. prior year period 16 % 23 % 22 % 41 % 46 %

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Source: SEC EDGAR

accession 0001193125-23-062339

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