Dave Q3 GAAP rev $65.8M, net loss improves 47% Q/Q; guides to adj EBITDA profitability in Q4

Dave Inc./DE

2023-Q3 EPS reported -$4.10 revenue$185,974,000

GAAP revenue $65.8M (+16% YoY, +7% Q/Q); Non-GAAP variable profit $37.3M (+51% YoY, +13% Q/Q)
GAAP net loss $12.1M (improved 47% Q/Q); Adj EBITDA loss $2.5M (improved 81% Q/Q)
Raised FY 2023 guidance: Non-GAAP revenue $257-261M (prior $235-260M), Adj EBITDA ($22)-($17)M (prior ($50)-($35)M), implying Q4 adj EBITDA profitability
ExtraCash originations $932M (+23% YoY); 28-day delinquency rate improved 165 bps to 2.42%; Dave Card spend $341M (+73% YoY)
Total liquidity $181M ($171M cash & investments + $10M undrawn credit facility)

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 0.85

Dave Inc./DE reported third quarter ended September 30, 2023 results: revenue $65.8 million, net income ($12.1). Guidance raised.

Period: third quarter ended September 30, 2023
Revenue: $65.8 million
Net income: ($12.1)
Guidance: raised
Result: reported results

Exact text from the filing

for Non-GAAP Revenue, Non-GAAP Variable Margin and Adjusted EBITDA, Implying Adjusted EBITDA Profitability in Q4 2023 at the Midpoint of the Range Q3 GAAP Revenue up 7% Q/Q to $65.8 Million; Q3 Non-GAAP Variable Profit up 13% Q/Q Q3 Net Loss Improves by 47% Q/Q; Adj. EBITDA Loss Improves 81% Q/Q to $2.5 Million LOS ANGELES, CA – November 7, 2023 – Dave Inc. (“Dave”

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Source: SEC EDGAR

accession 0001193125-23-272474

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