DAVE INC Financials
This page shows DAVE INC (DAVEW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Low-capital-intensity cash generation became the dominant mechanic, letting Dave pair rapid scaling with self-funded balance-sheet repair.
From FY2023 to FY2025, operating cash flow climbed from$33.8M to$290.0M , showing that the earnings turnaround was also a cash turnaround rather than just an accounting improvement. In the same span, long-term debt fell from$75.0M to$0 ; because capex stayed minimal, that cash could retire debt, fund buybacks, and still lift liquidity.
FY2025's free cash flow margin of
Over the last two years, total liabilities fell to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of DAVE INC's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
DAVE INC's revenue surged 59.7% year-over-year to $554.2M, reflecting rapid business expansion. This strong growth earns a score of 94/100.
DAVE INC carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.83, DAVE INC holds $3.83 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 85/100.
DAVE INC converts 52.3% of revenue into free cash flow ($289.7M). This strong cash generation earns a score of 97/100.
DAVE INC passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, DAVE INC generates $1.48 in operating cash flow ($290.0M OCF vs $196.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
DAVE INC generated $554.2M in revenue in fiscal year 2025. This represents an increase of 59.7% from the prior year.
DAVE INC reported $196.0M in net income in fiscal year 2025. This represents an increase of 237.9% from the prior year.
DAVE INC earned $13.53 per diluted share (EPS) in fiscal year 2025. This represents an increase of 222.9% from the prior year.
Cash & Balance Sheet
DAVE INC generated $289.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 132.0% from the prior year.
DAVE INC held $80.5M in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
DAVE INC's net profit margin was 35.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 18.7 percentage points from the prior year.
DAVE INC's ROE was 55.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 23.9 percentage points from the prior year.
Capital Allocation
DAVE INC spent $43.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
DAVE INC invested $317K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.0% from the prior year.
DAVEW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $158.4M-3.2% | $163.7M+8.6% | $150.7M+14.4% | $131.8M+22.0% | $108.0M+7.1% | $100.8M+9.0% | $92.5M+15.4% | $80.1M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $1.7M+0.6% | $1.7M-3.9% | $1.8M+0.7% | $1.8M+1.1% | $1.8M-4.6% | $1.8M-6.2% | $2.0M-0.1% | $2.0M |
| Income Tax | $12.2M+810.7% | -$1.7M+94.9% | -$33.6M-1463.1% | $2.5M-51.2% | $5.1M+636.0% | $687K+84.2% | $373K+120.9% | -$1.8M |
| Net Income | $57.9M-12.3% | $66.1M-28.2% | $92.1M+918.5% | $9.0M-68.6% | $28.8M+70.2% | $16.9M+3533.7% | $466K-92.7% | $6.4M |
| EPS (Diluted) | $4.02 | N/A | $6.34+922.6% | $0.62-68.5% | $1.97 | N/A | $0.03-93.6% | $0.47 |
DAVEW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $530.5M+8.8% | $487.4M+12.5% | $433.3M+19.2% | $363.6M+15.2% | $315.7M+5.5% | $299.3M+9.9% | $272.2M+10.1% | $247.2M |
| Current Assets | $479.6M+9.8% | $436.7M+13.1% | $386.0M+11.4% | $346.4M+15.9% | $298.8M+5.8% | $282.3M+10.8% | $254.7M+11.0% | $229.5M |
| Cash & Equivalents | $133.3M+65.6% | $80.5M+61.4% | $49.9M-19.1% | $61.7M+31.2% | $47.0M-5.5% | $49.7M+41.8% | $35.1M-27.9% | $48.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $326.7M+142.6% | $134.7M-5.1% | $141.9M-3.1% | $146.5M+26.1% | $116.2M0.0% | $116.2M-0.2% | $116.4M+10.5% | $105.4M |
| Current Liabilities | $124.3M+9.1% | $114.0M+156.8% | $44.4M+21.9% | $36.4M+4.7% | $34.8M-0.8% | $35.1M-6.3% | $37.4M+41.4% | $26.5M |
| Long-Term Debt | N/A | $0-100.0% | $75.0M0.0% | $75.0M0.0% | $75.0M0.0% | $75.0M0.0% | $75.0M0.0% | $75.0M |
| Total Equity | $203.8M-42.2% | $352.7M+21.1% | $291.3M+34.2% | $217.1M+8.8% | $199.5M+8.9% | $183.1M+17.5% | $155.8M+9.9% | $141.8M |
| Retained Earnings | $101.4M+133.4% | $43.4M+292.8% | -$22.5M+80.3% | -$114.6M+7.3% | -$123.6M+18.9% | -$152.4M+9.9% | -$169.3M+0.3% | -$169.7M |
DAVEW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $82.0M-12.1% | $93.3M+12.1% | $83.2M+22.0% | $68.2M+50.8% | $45.2M+8.5% | $41.7M+12.6% | $37.0M+32.0% | $28.0M |
| Capital Expenditures | $19K-79.1% | $91K+46.8% | $62K-51.2% | $127K+243.2% | $37K-26.0% | $50K-23.1% | $65K-51.9% | $135K |
| Free Cash Flow | $82.0M-12.0% | $93.2M+12.0% | $83.2M+22.1% | $68.1M+50.7% | $45.2M+8.5% | $41.7M+12.7% | $37.0M+32.4% | $27.9M |
| Investing Cash Flow | -$10.1M+80.1% | -$50.8M+27.5% | -$70.1M-30.3% | -$53.8M-91.7% | -$28.1M-4.6% | -$26.8M+47.0% | -$50.6M-46.7% | -$34.5M |
| Financing Cash Flow | -$19.1M-61.3% | -$11.8M+52.6% | -$25.0M-6073.9% | $418K+102.1% | -$19.9M-15574.0% | -$127K-304.8% | $62K+113.7% | -$454K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $186.7M+1477.1% | $11.8M-52.6% | $25.0M | $0-100.0% | $6.9M | $0 | $0 | $0 |
DAVEW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 36.6%-3.8pp | 40.4%-20.7pp | 61.1%+54.2pp | 6.9%-19.8pp | 26.7%+9.9pp | 16.8%+16.3pp | 0.5%-7.4pp | 7.9% |
| Return on Equity | 28.4%+9.7pp | 18.7%-12.9pp | 31.6%+27.4pp | 4.2%-10.3pp | 14.4%+5.2pp | 9.3%+8.9pp | 0.3%-4.2pp | 4.5% |
| Return on Assets | 10.9%-2.6pp | 13.6%-7.7pp | 21.3%+18.8pp | 2.5%-6.6pp | 9.1%+3.5pp | 5.7%+5.5pp | 0.2%-2.4pp | 2.6% |
| Current Ratio | 3.86+0.0 | 3.83-4.9 | 8.69-0.8 | 9.51+0.9 | 8.59+0.5 | 8.05+1.2 | 6.81-1.9 | 8.67 |
| Debt-to-Equity | 1.60+1.6 | 0.00-0.3 | 0.26-0.1 | 0.35-0.0 | 0.38-0.0 | 0.41-0.1 | 0.48-0.0 | 0.53 |
| FCF Margin | 51.8%-5.2pp | 56.9%+1.7pp | 55.2%+3.5pp | 51.7%+9.8pp | 41.9%+0.6pp | 41.3%+1.4pp | 40.0%+5.1pp | 34.8% |
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Frequently Asked Questions
What is DAVE INC's annual revenue?
DAVE INC (DAVEW) reported $554.2M in total revenue for fiscal year 2025. This represents a 59.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is DAVE INC's revenue growing?
DAVE INC (DAVEW) revenue grew by 59.7% year-over-year, from $347.1M to $554.2M in fiscal year 2025.
Is DAVE INC profitable?
Yes, DAVE INC (DAVEW) reported a net income of $196.0M in fiscal year 2025, with a net profit margin of 35.4%.
How much debt does DAVE INC have?
As of fiscal year 2025, DAVE INC (DAVEW) had $80.5M in cash and equivalents against $0 in long-term debt.
What is DAVE INC's net profit margin?
DAVE INC (DAVEW) had a net profit margin of 35.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is DAVE INC's return on equity (ROE)?
DAVE INC (DAVEW) has a return on equity of 55.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is DAVE INC's free cash flow?
DAVE INC (DAVEW) generated $289.7M in free cash flow during fiscal year 2025. This represents a 132.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is DAVE INC's operating cash flow?
DAVE INC (DAVEW) generated $290.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are DAVE INC's total assets?
DAVE INC (DAVEW) had $487.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are DAVE INC's capital expenditures?
DAVE INC (DAVEW) invested $317K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is DAVE INC's current ratio?
DAVE INC (DAVEW) had a current ratio of 3.83 as of fiscal year 2025, which is generally considered healthy.
What is DAVE INC's debt-to-equity ratio?
DAVE INC (DAVEW) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is DAVE INC's return on assets (ROA)?
DAVE INC (DAVEW) had a return on assets of 40.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is DAVE INC's Piotroski F-Score?
DAVE INC (DAVEW) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are DAVE INC's earnings high quality?
DAVE INC (DAVEW) has an earnings quality ratio of 1.48x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is DAVE INC?
DAVE INC (DAVEW) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.