Dave IncDE

For the period ended Mar 31, 2024. Filed May 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

DAVE$273.85-3.1%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

(in thousands; except per share data)

	For the Three Months Ended
	March 31, 2024	March 31, 2023
Operating revenues:
Service based revenue, net	$65,562	$52,576
Transaction based revenue, net	8,068	6,352
Total operating revenues, net	73,630	58,928
Operating expenses:
Provision for credit losses	9,943	11,953
Processing and servicing costs	7,723	7,118
Advertising and marketing	9,097	9,471
Compensation and benefits	24,552	24,367
Other operating expenses	16,916	18,501
Total operating expenses	68,231	71,410
Other (income) expenses:
Interest income	(1,495)	(1,192)
Interest expense	2,217	2,898
Gain on extinguishment of convertible debt	(33,442)	-
Changes in fair value of earnout liabilities	196	(25)
Changes in fair value of public and private warrant liabilities	477	(146)
Total other (income) expense, net	(32,047)	1,535
Net income (loss) before provision for income taxes	37,446	(14,017)
Provision for income taxes	3,203	8
Net income (loss)	$34,243	$(14,025)
Net income (loss) per share:
Basic	$2.80	$(1.19)
Diluted	$2.60	$(1.19)
Weighted-average shares used to compute net income (loss) per share
Basic	12,220,199	11,815,448
Diluted	13,182,517	11,815,448

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.