Dave Inc./DE

For the period ended Mar 31, 2026. Filed May 5, 2026.

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, 2026 · Filed May 5, 2026

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

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Condensed Consolidated Statements of Operations

(in thousands; except per share data)

	For the Three Months Ended
	March 31, 2026	March 31, 2025
Operating revenues:
Service based revenue, net	$147,587	$97,851
Transaction based revenue, net	10,827	10,128
Total operating revenues, net	158,414	107,979
Operating expenses:
Provision for credit losses	26,586	10,603
Processing and servicing costs	9,560	6,987
Financial network and transaction costs	7,752	7,039
Advertising and activation costs	14,260	11,930
Compensation and benefits	27,590	27,251
Technology and infrastructure	3,395	2,726
Other operating expenses	9,705	6,294
Total operating expenses	98,848	72,830
Other (income) expenses:
Interest income	(824)	(431)
Interest expense	1,729	1,758
Changes in fair value of earnout liabilities	(3,190)	(398)
Changes in fair value of public and private warrant liabilities	(8,309)	352
Total other (income) expense, net	(10,594)	1,281
Net income before provision for income taxes	70,160	33,868
Provision for income taxes	12,224	5,056
Net income	$57,936	$28,812
Net income per share:
Basic	$4.31	$2.19
Diluted	$4.02	$1.97
Weighted-average shares used to compute net income per share
Basic	13,434,862	13,126,286
Diluted	14,399,635	14,646,526

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