secwatch.observer — SEC 8-K summary
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Issuer:     Dave Inc./DE (DAVE)
CIK:        0001841408
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001193125-24-132578
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dave Q1 revenue $73.6M (up 25% YoY), GAAP net income $34.2M, raises FY adj. EBITDA guidance to $30-40M
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- GAAP net income $34.2M vs loss $14.0M in Q1 2023; includes $33.4M gain on FTX note extinguishment.
- Adjusted EBITDA $13.2M, up 32% from Q4 2023; FY 2024 guidance raised to $30-40M (prev. $25-35M).
- ExtraCash originations $1.1B (+32% YoY); 28-day delinquency rate improved 77 bps to 1.83%.
- Monthly transacting members up 14% to 2.2M; debit card spend up 34% to $394M.
- Cash $101.5M; repurchased FTX convertible note for $71M at 33% discount in Jan 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1841408/000119312524132578/0001193125-24-132578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1841408/000119312524132578/d834789d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-132578

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