Dave IncDE
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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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.
Sep 30, 2024 · Filed Nov 12, 2024
DAVE$273.85-3.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net income (loss) | $41,067 | $(48,696) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 5,339 | 3,863 |
| Provision for credit losses | 37,988 | 43,861 |
| Changes in fair value of earnout liabilities | 116 | (35) |
| Changes in fair value of public and private warrant liabilities | 408 | (239) |
| Gain on extinguishment of convertible debt | (33,442) | - |
| Stock-based compensation | 27,195 | 20,146 |
| Non-cash interest | 251 | 2,320 |
| Non-cash lease expense | (16) | (17) |
| Changes in fair value of marketable securities and investments | (47) | 211 |
| Changes in operating assets and liabilities: | ||
| ExtraCash receivables, service based revenue | (3,651) | (2,534) |
| Prepaid income taxes | 148 | 18 |
| Prepaid expenses and other current assets | (6,020) | 603 |
| Accounts payable | 2,851 | (2,334) |
| Accrued expenses | 4,486 | 3,460 |
| Legal settlement accrual | 3,842 | (2,035) |
| Other current liabilities | 91 | (612) |
| Other non-current liabilities | 2,829 | 4 |
| Other non-current assets | (12) | 137 |
| Net cash provided by operating activities | 83,423 | 18,121 |
| Investing activities | ||
| Payments for internally developed software costs | (5,522) | (5,888) |
| Purchase of property and equipment | (212) | (658) |
| Net originations and collections of ExtraCash receivables | (87,024) | (34,268) |
| Purchase of investments | (74,815) | (92,024) |
| Sale and maturity of investments | 147,689 | 137,193 |
| Purchase of marketable securities | (59,273) | (34,385) |
| Sale of marketable securities | 60,129 | 33,027 |
| Net cash (used in) provided by investing activities | (19,028) | 2,997 |
| Financing activities | ||
| Payment for fractional shares on reverse stock split | - | (13) |
| Proceeds from issuance of common stock for stock option exercises | 893 | 17 |
| Payment of costs for extinguishment of convertible debt | (761) | - |
| Repayment of borrowings on convertible debt, long-term | (71,000) | - |
| Net cash used in (provided by) financing activities | (70,868) | 4 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (6,473) | 21,122 |
| Cash and cash equivalents and restricted cash, beginning of the period | 43,078 | 23,677 |
| Cash and cash equivalents and restricted cash, end of the period | $36,605 | $44,799 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
|---|---|---|
| Property and equipment purchases in accounts payable and accrued liabilities | $4 | $7 |
| Supplemental disclosure of cash paid for: | ||
| Income taxes | $104 | $4 |
| Interest | $5,833 | $3,608 |
| The following table provides a reconciliation of cash and cash equivalents, and restricted cash reported within the condensed consolidated balance sheets with the same as shown in the condensed consolidated statement of cash flows | ||
| Cash and cash equivalents | $35,059 | $43,608 |
| Restricted cash | 1,546 | 1,191 |
| Total cash, cash equivalents, and restricted cash, end of the period | $36,605 | $44,799 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.