secwatch.observer — SEC 8-K summary
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Issuer:     Dave Inc./DE (DAVE)
CIK:        0001841408
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001193125-23-272474
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841408/000119312523272474/0001193125-23-272474-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841408/000119312523272474/d568851d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-272474

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer