NASDAQ$DAVE
Dave Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Dave's Q3 2024 earnings were reported, with record revenue and increased profitability.
Dave Inc. reported a record third quarter with revenue up 41% year-over-year to $92.5 million and net income of $0.5 million, a $12.5 million increase year-over-year. The company also raised its full-year 2024 revenue and Adjusted EBITDA guidance.
- Revenue increased by 41% year-over-year to $92.5 million, marking the fourth consecutive quarter of accelerating revenue growth.
- Net income increased by $12.5 million year-over-year to $0.5 million.
- Adjusted EBITDA increased by $27.2 million year-over-year to $24.7 million.
- New member acquisitions increased 4% to 854,000, while customer acquisition costs decreased 14% to $15.
Headline financials
Revenue & EPS history
Dave · Revenue · Quarterly
$92.5M
Forward guidance
Dave is raising its Revenue and Adjusted EBITDA guidance for full year 2024 to $340 - $343 million and $71 - $74 million, respectively.
Tailwinds
- Demonstrated ability to drive both growth and profitability.
- Adjusted EBITDA margin of 27%.
- Grew Adjusted EBITDA on a dollar basis by more than revenue growth.
- ExtraCash demand remains solid.
- Credit performance remains solid.
Headwinds
- The Company does not provide a quantitative reconciliation of forward-looking non-GAAP financial measures because it is unable to predict without unreasonable effort the exact amount or timing of the reconciling items, including interest expense, investment income, and loss provision, among others.
- The variability of these items could have a significant impact on our future GAAP financial results.
- Ability of Dave to compete in its highly competitive industry
- Ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry
- Ability of Dave to manage risks associated with providing ExtraCash advances
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2024
+6.5%
Avg return
Earnings day
+6.5%
Avg return
5 days after
+2.6%
Avg return
30 days after
60%
12 / 20 earnings
Positive
+52.6%
Q3 2024
Best reaction
-10.4%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.6% | -8.3% | -6.3% | |
| Q4 2025 | +5.1% | +9.2% | -13.2% | |
| Q3 2025 | -2.2% | -1.9% | -12.5% | |
| Q1 2025 | +41.3% | +68.6% | +105.5% | |
| Q4 2024 | -4.9% | -12.3% | -16.5% | |
| Q3 2024 | +52.6% | +35.1% | +45.1% | |
| Q2 2024 | -6.3% | -8.3% | +10.7% | |
| Q1 2024 | +9.1% | +5.5% | -21.1% | |
| Q4 2023 | +44.4% | +64.4% | +72.5% | |
| Q3 2023 | +4.7% | -2.2% | +17.6% | |
| Q2 2023 | +0.3% | +11.2% | +5.6% | |
| Q1 2023 | -8.5% | -6.0% | +11.3% | |
| Q4 2022 | -8.3% | -16.4% | -31.7% | |
| Q3 2022 | +21.4% | +21.4% | +25.7% | |
| Q2 2022 | -10.4% | -16.3% | -34.5% | |
| Q1 2022 | +2.0% | +12.9% | -56.9% | |
| Q4 2021 | -5.4% | -28.0% | -50.5% | |
| Q3 2021 | +0.1% | -0.4% | -0.4% | |
| Q2 2021 | +0.1% | -0.2% | +1.1% | |
| Q1 2021 | +1.6% | +1.6% | +1.6% | |
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