Dave reported FY 2025 total revenue of USD 554.2 million (+60%), driven by service based revenue, net of USD 511.9 million, including processing and overdraft service fees, net of USD 466.8 million (2.1x), and transaction based revenue, net of USD 42.3 million (+19%). Net income was USD 195.9 million in FY 2025, and adjusted EBITDA was USD 226.7 million. Total operating expenses were USD 367.6 million (+18%), including provision for credit losses of USD 91.0 million (+67%) and advertising and activation costs of USD 66.0 million (+23%). Cash flows from operating activities were USD 290.0 million in FY 2025, and cash and cash equivalents, marketable securities, investments and restricted cash totaled USD 123.2 million at December 31, 2025. In product and business updates, Dave said ExtraCash origination volume rose to about USD 7.6 billion in FY 2025 and the average ExtraCash amount increased to USD 205, while the company completed a transition in February 2025 to a simplified fee structure with a mandatory 5% overdraft service fee (including a USD 5 minimum) and discontinued optional tips and optional processing fees. Dave also highlighted deployment of CashAI v5.5 in September 2025, and noted a March 2025 program agreement with Coastal to issue and maintain deposit accounts and sponsor access to debit and ACH networks, with all new members onboarded to Coastal by Q4 2025 and an expectation that transitioning existing members will be substantially finalized by end of 2026. On capital returns, Dave said its board authorized a new USD 300.0 million share repurchase program on February 25, 2026, replacing a prior program, and reported FY 2025 share repurchases of USD 43.7 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dave Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-085370), on March 02, 2026, and is solely responsible for the information contained therein.