Dave Inc./DE
For the period ended Sep 30, 2026. Filed Nov 4, 2026.
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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, 2026 · Filed Nov 4, 2026
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, 2026 · September 30, 2025 | |||
| Operating activities | |||
| Net income | $128,410 | $129,924 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 5,400 | 5,038 | |
| Provision for credit losses | 91,953 | 65,744 | |
| Changes in fair value of earnout liabilities | (415) | 2,655 | |
| Changes in fair value of warrant liabilities | (554) | 11,657 | |
| Stock-based compensation | 45,464 | 23,011 | |
| Non-cash interest expense from the convertible notes | 797 | - | |
| Deferred income taxes | (2,343) | (30,277) | |
| Non-cash lease expense | (1) | (29) | |
| Changes in fair value of marketable securities and investments | - | 99 | |
| Changes in operating assets and liabilities: | |||
| Member receivables, service based revenue | (18,018) | (12,614) | |
| Prepaid income taxes | (5,133) | - | |
| Bank partner deposits | (17,175) | (1,459) | |
| Prepaid expenses and other current assets | (12,337) | (8,347) | |
| Accounts payable | (2,280) | 1,073 | |
| Accrued expenses | 12,140 | (1,424) | |
| Income taxes payable | (1,651) | - | |
| Legal settlement accrual | 2,197 | 9,038 | |
| Other current liabilities | 2,937 | 538 | |
| Other non-current liabilities | 2,425 | 2,116 | |
| Other non-current assets | (11) | (12) | |
| Net cash provided by operating activities | 231,805 | 196,731 | |
| Investing activities | |||
| Payments for internally developed software costs | (6,062) | (4,805) | |
| Purchase of property and equipment | (207) | (226) | |
| Net originations, purchases and collections of Member receivables | 25,212 | (145,567) | |
| Purchase of investments | (68,915) | (169,732) | |
| Sale and maturity of investments | 66,325 | 168,314 | |
| Purchase of marketable securities | - | (3) | |
| Sale of marketable securities | - | 100 | |
| Net cash provided by (used in) investing activities | 16,353 | (151,919) | |
| Financing activities | |||
| Repurchases of Class A common stock | (211,855) | (31,890) | |
| Proceeds from issuance of common stock for stock option exercises | 100 | 750 | |
| Proceeds from issuance of common stock for warrant exercises | 156 | - | |
| Proceeds from issuance of convertible notes, net | 192,696 | - | |
| Purchase of capped calls | (17,364) | - | |
| Payment of taxes for shares withheld related to net share settlement | (22,477) | (13,319) | |
| Net cash used in financing activities | (58,744) | (44,459) | |
| Net increase in cash and cash equivalents and restricted cash | 189,414 | 353 | |
| Cash and cash equivalents and restricted cash, beginning of the period | 82,364 | 51,377 | |
| Cash and cash equivalents and restricted cash, end of the period | $271,778 | $51,730 | |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Operating lease right of use assets recognized | $311 | $ | - |
| Operating lease liabilities recognized | $311 | $ | - |
| Accrued excise taxes for repurchases of Class A common stock | $1,416 | $319 | |
| Reclassification of fair value of warrants exercised from liability to equity | $40 | $ | - |
| Supplemental disclosure of cash paid for: | |||
| Income taxes | $38,341 | $1,604 | |
| Interest | $4,901 | $5,249 | |
| 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 | $269,937 | $49,889 | |
| Restricted cash | $1,841 | $1,841 | |
| Total cash, cash equivalents, and restricted cash, end of the period | $271,778 | $51,730 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.