Shares of Dave Inc (NASDAQ:DAVE) unexpectedly plummeted 12.21% in pre-market trading on Wednesday, despite the company reporting better-than-expected second-quarter results and raising its full-year guidance. This sharp decline has left investors puzzled, given the seemingly positive financial performance.

Dave Inc reported impressive Q2 revenues of $131.7 million, surpassing analyst estimates of $113.5 million by 16.04% and marking a substantial 64.42% increase from the same period last year. The company also raised its 2025 guidance, projecting revenue between $505-$515 million, up from the previous forecast of $460-$475 million. Additionally, Dave Inc reported a net income of $9.1 million and an adjusted EBITDA of $50.9 million for the quarter.

However, conflicting reports regarding the company's earnings per share (EPS) may be contributing to investor uncertainty. One source indicated a significant beat with adjusted EPS of $3.14 versus the $1.65 estimate, while another reported a miss at $0.62 compared to the $1.32 expected. This discrepancy could be a factor in the market's negative reaction. As trading continues, investors will be closely monitoring for any clarification on the EPS figures and additional insights into the company's performance to understand the rationale behind the unexpected stock plunge.