Dave Q1 revenue $58.9M (+38% YoY); net loss improves 57%; Adj. EBITDA loss down 75% to $4.5M

Dave Inc./DE

2023-Q1 EPS reported -$1.19 revenue$58,928,000

GAAP revenue $58.9M (+38% YoY); non-GAAP revenue $60.6M (+39%).
Net loss improved 57% YoY to $14.0M; Adj. EBITDA loss reduced 75% to $4.5M.
Non-GAAP variable profit margin expanded to 56% from 41% YoY.
ExtraCash originations $798M (+46% YoY); 28-day delinquency improved 67 bps to 2.60%.
Reiterates FY2023 outlook: non-GAAP revenue $235-260M, Adj. EBITDA loss ($50)-($35)M.

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 first quarter ended March 31, 2023 results: revenue $58.9 million, net income ($14.0) million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $58.9 million
Net income: ($14.0) million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Dave Announces First Quarter 2023 Results Q1 GAAP Revenue up 38% Year Over Year to $58.9 Million; Transaction-Based Revenue up 91% Q1 Net Loss Improves by 57% Year Over Year; Adj. EBITDA Loss Reduced 75% to $4.5 Million Reiterates 2023 Financial Outlook and Maintains Nearly $200 Million Available Liquidity

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Source: SEC EDGAR

accession 0001193125-23-139431

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