Dave Q1 2025 Earnings Report
Key Takeaways
Dave reported strong financial results for the first quarter of 2025, with revenue increasing 47% year-over-year to $108.0 million. GAAP Net Income reached $28.8 million, and Adjusted EBITDA significantly increased by 235% year-over-year to $44.2 million. The company also raised its full-year 2025 guidance for both revenue and Adjusted EBITDA.
Q1 2025 GAAP Operating Revenues, Net increased 47% year-over-year to $108.0 million.
Q1 2025 GAAP Net Income was $28.8 million.
Q1 2025 Adjusted EBITDA increased 235% year-over-year to $44.2 million.
Dave raised its full-year 2025 Revenue and Adjusted EBITDA guidance.
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Dave Revenue by Segment
Forward Guidance
Dave raised its full-year 2025 guidance, now expecting GAAP Operating Revenues, Net of $460 million to $475 million and Adjusted EBITDA of $155 million to $165 million, reflecting confidence in continued growth and operating efficiency.
Positive Outlook
- Raised full-year 2025 GAAP Operating Revenues, Net guidance.
- Raised full-year 2025 Adjusted EBITDA guidance.
- Increased confidence in the new fee model.
- Positive growth outlook.
- Demonstrated continued financial strength and operating efficiency.