Dave Inc (NASDAQ: DAVE) saw its stock surge 7.34% in the pre-market trading session on Tuesday, March 4th. The neobank's shares rallied following the release of its better-than-expected fourth-quarter earnings results and an upbeat financial outlook for the fiscal year 2025.
For the quarter ended December 31, 2024, Dave reported adjusted earnings of $2.04 per share, significantly outpacing analysts' estimates of $0.42 per share. Revenue rose 38% year-over-year to $100.9 million, also exceeding expectations of $95.45 million. The strong performance was driven by robust demand for Dave's ExtraCash product, with originations up 44% from the previous year.
Looking ahead, Dave forecasts fiscal 2025 revenue to range from $415 million to $435 million, representing growth of 20% to 25% year-over-year. The company also expects adjusted EBITDA to range from $110 million to $120 million, up 27% to 39% from 2024 levels. This positive outlook reflects the benefits of Dave's recently implemented new fee structure, which is expected to boost ExtraCash limits, monetization, and customer lifetime value.
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