Welcome to our dedicated page for DAVE news (Ticker: DAVE), a resource for investors and traders seeking the latest updates and insights on DAVE stock.
Dave Inc. (NASDAQ: DAVE) is a U.S. neobank and fintech company that regularly issues news and updates related to its financial performance, technology, capital allocation, and mission-driven initiatives. As a digital banking platform serving millions of everyday Americans, Dave’s announcements provide insight into how it manages growth, credit performance, and member engagement.
Investors and followers of DAVE stock can use this news feed to review quarterly earnings results, including trends in operating revenues, non-GAAP gross profit, Adjusted Net Income, and Adjusted EBITDA as reported by the company. Dave’s releases often highlight metrics such as Monthly Transacting Members, ExtraCash originations and monetization, delinquency rates, and debit card spend, along with management commentary on unit economics and operating leverage.
News from Dave also covers product and technology developments. For example, the company has announced new versions of its CashAI cash flow underwriting engine, explaining how expanded feature sets and larger training datasets are intended to improve risk ranking, approval amounts, conversion, and credit outcomes for its ExtraCash product. Updates on data access arrangements and relationships with partners, such as Plaid and bank partners, appear in these communications as well.
Capital allocation decisions, including share repurchase authorizations and buyback activity, are another recurring theme in Dave’s press releases. The company explains how repurchases fit into its broader strategy and outlook. In addition, Dave uses its news channel to highlight charitable efforts, such as donations to Baby2Baby, which it presents as part of its long-standing commitment to improving the economic well-being of everyday Americans.
By following Dave’s news, readers can track how the company reports on growth, profitability, technology initiatives, partnerships, and community impact over time.
Dave Inc. reported record financial results for Q3 2022, with GAAP operating revenue rising 41% year-over-year to $56.8 million. The company achieved significant progress in its Dave Card business, with transaction-based revenue up 43% sequentially. The total member count reached 7.8 million, adding 808,000 net new members, and Monthly Transacting Members grew 18% to 1.8 million. Liquidity remains strong with $225 million available. Dave anticipates adjusted EBITDA losses to decrease in Q4 while reiterating FY 2022 revenue guidance of $200 million to $215 million.
On November 2, 2022, Dave Inc. (NASDAQ: DAVE) announced a significant milestone, surpassing $5 billion in total advances and overdraft advances through its ExtraCash service. This achievement reflects nearly double the origination volume over the past year, underscoring Dave's innovative approach to financial solutions amid rising living costs. The app offers various services, including flexible overdraft options and Side Hustle job connections, aiming to enhance financial well-being for its users.
Dave Inc. (Nasdaq: DAVE, DAVEW) will release its third quarter 2022 financial results after market close on November 10, 2022. The company aims to enhance financial accessibility through its banking app, which offers various tools such as debit cards and spending accounts. A conference call discussing the results will take place at 5:30 PM ET on the same day, featuring CEO Jason Wilk and CFO Kyle Beilman. The call will be available for live streaming on Dave's investor relations website, with a replay accessible afterward.
AKQA has appointed Tesa Aragones as President of North America, overseeing studios and expanding clientele. This strategic move comes as AKQA aims to double its headcount in the U.S. over the next five years, capitalizing on growing investments in technology and digitalization. Tesa brings 25 years of leadership experience from brands like Nike and Volkswagen, emphasizing innovation and diversity. The agency has recently garnered multiple prestigious awards, indicating its strong market position and growth trajectory.
Dave Inc. (NASDAQ: DAVE, DAVEW) announced the appointment of Chien-Liang Chou as Chief Technology Officer, effective immediately. Previously the Executive Vice President of Engineering, Chou has over 20 years of experience in software and technology platforms. His work has enhanced operational efficiency and member experience at Dave. Chou's leadership is expected to significantly influence Dave's technology architecture as the company aims to expand its offerings and improve customer satisfaction. CEO Jason Wilk praised Chou's instrumental contributions to Dave's technology platform.
On August 25, 2022, Dave Inc. (NASDAQ: DAVE) announced the appointment of Tesa Aragones to its Board of Directors, effective August 23, 2022. Aragones, a seasoned leader with over two decades of experience in brand marketing and digital innovation, has held prominent roles at companies like Nike and Discord Inc. Her background is expected to enhance Dave's marketing strategies and community engagement. CEO Jason Wilk expressed confidence in Aragones' ability to contribute positively to the company's mission of providing inclusive financial solutions.
Dave, a banking app, will host a Town Hall event for retail investors on August 18, 2022, through Public.com. This event follows its Second Quarter 2022 Results announcement on August 11. Investors can submit questions starting August 12, allowing them to engage directly with Founder & CEO Jason Wilk. The Q&A session will take place live at 12 p.m. ET. Prior to this, the company provided a conference call replay of its Q2 results, which can be found on its investor relations website. Dave aims to empower users with innovative financial tools.
Dave achieved a record in Non-GAAP operating revenue and Monthly Transacting Members for Q2 2022. The firm reported a 22.4% increase in Non-GAAP operating revenue, totaling $47.0 million compared to the previous year. They added 560,000 new members, reaching approximately 7 million total members. Despite strong user engagement, the Adjusted EBITDA loss widened to $28.5 million from $4.5 million year-over-year. The company revised its fiscal year revenue outlook to between $200 million and $215 million.
Dave, Inc. (DAVE) will release its second quarter 2022 financial results on August 11, 2022, after the market closes. Following the announcement, CEO Jason Wilk and CFO Kyle Beilman will host a conference call at 5:30 PM ET to discuss the results. Interested parties can access the call via the company's investor relations website, where a replay will also be available afterward. Dave aims to provide financial tools that empower consumers to manage their banking, budgeting, and credit-building efforts effectively.
Dave Inc. (NASDAQ: DAVE) released survey results indicating that 70% of Americans struggle to afford summer trips amidst rising inflation and high gas prices. Conducted by Harris Poll, findings show 40% of Americans won't vacation this summer, while 60% planning trips may incur debt. Notably, 67% cite gas prices as their top concern, with one-third of respondents considering a second job to fund vacations. The company's gas spending increased by 6% due to its cashback reward. These insights highlight the financial challenges facing consumers and the growing demand for Dave's financial products.
FAQ
What is the current stock price of DAVE (DAVE)?
What is the market cap of DAVE (DAVE)?
