Dave IncDE

For the period ended Mar 31, 2025. Filed May 8, 2025.

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, 2025 · Filed May 8, 2025

DAVE$282.65+1.5%Stored close · as of Nov 9, 2026

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Condensed Consolidated Statements of Operations

(in thousands; except per share data)

	For the Three Months Ended
	March 31, 2025	March 31, 2024
Operating revenues:
Service based revenue, net	$97,851	$65,562
Transaction based revenue, net	10,128	8,068
Total operating revenues, net	107,979	73,630
Operating expenses:
Provision for credit losses	10,603	9,943
Processing and servicing costs	7,106	7,723
Advertising and marketing	10,315	9,097
Compensation and benefits	27,510	24,552
Other operating expenses	17,296	16,916
Total operating expenses	72,830	68,231
Other (income) expenses:
Interest income	(431)	(1,495)
Interest expense	1,758	2,217
Gain on extinguishment of convertible debt	-	(33,442)
Changes in fair value of earnout liabilities	(398)	196
Changes in fair value of public and private warrant liabilities	352	477
Total other expense (income), net	1,281	(32,047)
Net income before provision for income taxes	33,868	37,446
Provision for income taxes	5,056	3,203
Net income	$28,812	$34,243
Net income per share:
Basic	$2.19	$2.80
Diluted	$1.97	$2.60
Weighted-average shares used to compute net income per share
Basic	13,126,286	12,220,199
Diluted	14,646,526	13,182,517

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