(Updates with stock price movement in the headline and the first paragraph.)
Dave (DAVE) shares were down by more than 22% in recent Wednesday trading after the company amended a program agreement with Coastal Community Bank, a unit of Coastal Financial (CCB), to move a significant portion of its ExtraCash receivables off balance sheet, starting early 2026.
The company reported Q2 non-GAAP earnings Wednesday of $3.14 per diluted share, up from $1.01 a year earlier.
Analysts surveyed by FactSet expected $1.94.
Revenue for the quarter ended June 30 was $131.7 million, up from $80.1 million a year earlier.
Analysts surveyed by FactSet expected $113.2 million.
The company said it expects fiscal 2025 revenues of $505 million to $515 million, up from the earlier outlook of $460 million to $475 million.
Analysts surveyed by FactSet expect $469.4 million.
Price: 183.65, Change: -55.18, Percent Change: -23.10
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