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.
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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, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |
| Operating revenues: | ||||
| Service based revenue, net | $186,349 | $139,229 | $493,983 | $358,673 |
| Transaction based revenue, net | 11,355 | 11,496 | 32,928 | 31,788 |
| Total operating revenues, net | 197,704 | 150,725 | 526,911 | 390,461 |
| Operating expenses: | ||||
| Provision for credit losses | 36,549 | 29,846 | 91,953 | 65,744 |
| Processing and servicing costs | 12,832 | 9,404 | 32,691 | 23,561 |
| Financial network and transaction costs | 10,383 | 7,378 | 26,102 | 21,644 |
| Advertising and activation costs | 27,959 | 18,911 | 62,577 | 46,297 |
| Compensation and benefits | 43,296 | 24,842 | 106,625 | 78,523 |
| Technology and infrastructure | 4,487 | 3,192 | 11,733 | 8,812 |
| Other operating expenses | 14,181 | 11,254 | 35,406 | 23,751 |
| Total operating expenses | 149,687 | 104,827 | 367,087 | 268,332 |
| Other (income) expenses: | ||||
| Interest income | (2,196) | (294) | (4,348) | (1,313) |
| Interest expense | 2,062 | 1,789 | 5,811 | 5,324 |
| Changes in fair value of earnout liabilities | (8,467) | (4,841) | (415) | 2,655 |
| Changes in fair value of warrant liabilities | (17,881) | (9,186) | (554) | 11,657 |
| Total other (income) expense, net | (26,482) | (12,532) | 494 | 18,323 |
| Net income before provision for income taxes | 74,499 | 58,430 | 159,330 | 103,806 |
| Provision (benefit) for income taxes | 10,712 | (33,642) | 30,920 | (26,118) |
| Net income | $63,787 | $92,072 | $128,410 | $129,924 |
| Net income per share: | ||||
| Basic | $5.00 | $6.84 | $9.90 | $9.76 |
| Diluted | $3.30 | $6.34 | $9.13 | $8.96 |
| Weighted-average shares used to compute net income per share | ||||
| Basic | 12,763,674 | 13,457,671 | 12,970,111 | 13,317,504 |
| Diluted | 13,921,273 | 14,525,301 | 13,997,781 | 14,492,827 |
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