Dave Inc./DE
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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, 2025 · Filed Nov 4, 2025
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 Operations
(in thousands; except per share data)
| For the Three Months Ended | For the Nine Months Ended | |||
|---|---|---|---|---|
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |
| Operating revenues: | ||||
| Service based revenue, net | $139,229 | $83,390 | $358,673 | $220,603 |
| Transaction based revenue, net | 11,496 | 9,099 | 31,788 | 25,633 |
| Total operating revenues, net | 150,725 | 92,489 | 390,461 | 246,236 |
| Operating expenses: | ||||
| Provision for credit losses | 29,846 | 13,680 | 65,744 | 37,988 |
| Processing and servicing costs | 9,404 | 8,398 | 23,561 | 23,351 |
| Financial network and transaction costs | 7,378 | 6,237 | 21,644 | 19,087 |
| Advertising and activation costs | 18,911 | 14,925 | 46,297 | 38,745 |
| Compensation and benefits | 24,842 | 30,439 | 78,523 | 79,019 |
| Technology and infrastructure | 3,192 | 2,848 | 8,812 | 8,352 |
| Other operating expenses | 11,254 | 13,412 | 23,751 | 26,076 |
| Total operating expenses | 104,827 | 89,939 | 268,332 | 232,618 |
| Other (income) expenses: | ||||
| Interest income | (294) | (439) | (1,313) | (2,471) |
| Interest expense | 1,789 | 1,964 | 5,324 | 6,146 |
| Gain on extinguishment of convertible debt | - | - | - | (33,442) |
| Changes in fair value of earnout liabilities | (4,841) | (17) | 2,655 | 116 |
| Changes in fair value of public and private warrant liabilities | (9,186) | 203 | 11,657 | 408 |
| Total other (income) expense, net | (12,532) | 1,711 | 18,323 | (29,243) |
| Net income before provision (benefit) for income taxes | 58,430 | 839 | 103,806 | 42,861 |
| Provision (benefit) for income taxes | (33,642) | 373 | (26,118) | 1,794 |
| Net income | $92,072 | $466 | $129,924 | $41,067 |
| Net income per share: | ||||
| Basic | $6.84 | $0.04 | $9.76 | $3.30 |
| Diluted | $6.34 | $0.03 | $8.96 | $3.02 |
| Weighted-average shares used to compute net income per share | ||||
| Basic | 13,457,671 | 12,639,294 | 13,317,504 | 12,426,122 |
| Diluted | 14,525,301 | 13,932,652 | 14,492,827 | 13,587,377 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.