Dave IncDE
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Nov 12, 2024
DAVE$282.65+1.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(in thousands; except per share data)
| For the Three Months Ended | For the Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |
| Operating revenues: | ||||
| Service based revenue, net | $83,390 | $59,179 | $220,603 | $166,740 |
| Transaction based revenue, net | 9,099 | 6,632 | 25,633 | $19,234 |
| Total operating revenues, net | 92,489 | 65,811 | 246,236 | 185,974 |
| Operating expenses: | ||||
| Provision for credit losses | 13,680 | 15,983 | 37,988 | 43,861 |
| Processing and servicing costs | 8,576 | 7,064 | 24,093 | 21,414 |
| Advertising and marketing | 12,501 | 13,914 | 32,341 | 38,370 |
| Compensation and benefits | 30,763 | 23,081 | 79,830 | 71,380 |
| Other operating expenses | 24,419 | 16,343 | 58,366 | 54,922 |
| Total operating expenses | 89,939 | 76,385 | 232,618 | 229,947 |
| Other (income) expenses: | ||||
| Interest income | (439) | (1,332) | (2,471) | (4,009) |
| Interest expense | 1,964 | 3,057 | 6,146 | 8,982 |
| Gain on extinguishment of convertible debt | - | - | (33,442) | - |
| Changes in fair value of earnout liabilities | (17) | 2 | 116 | (35) |
| Changes in fair value of public and private warrant liabilities | 203 | (257) | 408 | (239) |
| Total other (income) expense, net | 1,711 | 1,470 | (29,243) | 4,699 |
| Net income (loss) before provision for income taxes | 839 | (12,044) | 42,861 | (48,672) |
| Provision for income taxes | 373 | 9 | 1,794 | 24 |
| Net income (loss) | $466 | $(12,053) | $41,067 | $(48,696) |
| Net income (loss) per share: | ||||
| Basic | $0.04 | $(1.01) | $3.30 | $(4.10) |
| Diluted | $0.03 | $(1.01) | $3.02 | $(4.10) |
| Weighted-average shares used to compute net income (loss) per share | ||||
| Basic | 12,639,294 | 11,960,078 | 12,426,122 | 11,887,199 |
| Diluted | 13,932,652 | 11,960,078 | 13,587,377 | 11,887,199 |
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