---
title: "DAVE INC C/WTS 05/01/2027 (TO PUR COM) | 8-K: FY2026 Q1 Revenue: USD 158.4 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285261640.md"
datetime: "2026-05-05T20:29:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285261640.md)
  - [en](https://longbridge.com/en/news/285261640.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285261640.md)
---

# DAVE INC C/WTS 05/01/2027 (TO PUR COM) | 8-K: FY2026 Q1 Revenue: USD 158.4 M

Revenue: As of FY2026 Q1, the actual value is USD 158.4 M.

EPS: As of FY2026 Q1, the actual value is USD 4.02.

EBIT: As of FY2026 Q1, the actual value is USD 60.4 M.

#### Revenue

-   **Total Operating Revenues, Net**: Dave Inc.’s total operating revenues, net, reached $158.4 million, marking a 47% year-over-year (Y/Y) increase from $108.0 million .
    -   **Service-based revenue, net**: This segment generated $147.6 million, up from $97.9 million .
        -   Processing and overdraft service fees, net: $133.6 million, an increase from $83.4 million .
        -   Subscriptions: $13.9 million, up from $6.8 million .
        -   Tips: $0 million, down from $7.5 million .
        -   Other service-based revenue: $0.1 million, down from $0.2 million .
    -   **Transaction-based revenue, net**: This totaled $10.8 million, an increase from $10.1 million .
        -   Interchange revenue, net: $6.2 million, up from $5.9 million .
        -   ATM revenue, net: $0.7 million, down from $0.8 million .
        -   Other transaction-based revenue: $3.9 million, up from $3.4 million .

#### Profitability

-   **GAAP Net Income**: Reported at $57.9 million, representing a 101% Y/Y increase from $28.8 million .
-   **Adjusted Net Income (Non-GAAP)**: Stood at $52.3 million, a 61% Y/Y increase from $32.5 million .
-   **Non-GAAP Gross Profit**: Reached $114.4 million, a 37% Y/Y increase from $83.4 million .
-   **Non-GAAP Gross Profit Margin**: Was 72%, which is a decrease of 500 basis points from 77% .
-   **Adjusted EBITDA (Non-GAAP)**: Amounted to $69.3 million, a 57% Y/Y increase from $44.2 million .
-   **Adjusted EBITDA Margin**: Increased to 44% from 41% .

#### Operating Costs

-   **Total Operating Expenses**: Totaled $98.9 million, up from $72.8 million .
    -   Provision for credit losses: $26.6 million, up from $10.6 million .
    -   Processing and servicing costs: $9.6 million, up from $7.0 million .
    -   Financial network and transaction costs: $7.8 million, up from $7.0 million .
    -   Advertising and activation costs: $14.3 million, up from $11.9 million .
    -   Compensation and benefits: $27.6 million, up from $27.3 million .
    -   Technology and infrastructure: $3.4 million, up from $2.7 million .
    -   Other operating expenses: $9.6 million, up from $6.3 million .

#### Cash Flow and Liquidity

-   **Cash and Cash Equivalents, Investments, and Restricted Cash**: Amounted to $177.8 million as of March 31, 2026, compared to $123.2 million as of December 31, 2025 . This increase of $54.6 million was primarily driven by $82.0 million of net cash provided by operating activities and $175.7 million of net proceeds from convertible notes offering, partially offset by $186.7 million of share repurchases and $8.2 million in tax payments .
-   **Share Repurchase Activity**: Approximately $195 million was deployed in Q1 2026, representing 7.0% of shares outstanding . The company maintains $113.3 million of remaining capacity under its existing authorization .

#### Operational Metrics

-   **New Members**: Increased 22% to 695,000 .
-   **Monthly Transacting Members (MTMs)**: Increased 18% to 2.99 million .
-   **ExtraCash Originations**: Increased 37% to $2.1 billion .
-   **ExtraCash Monetization Rate Net of Losses**: Expanded nearly 40 basis points to 5.1% .
-   **Average 28-Day Past Due Rate**: Was 1.69%, compared to 1.70% in Q1 2025, marking the lowest Q1 rate in company history .
-   **Dave Debit Card Spend**: Increased 9% to $534 million .

#### Outlook / Guidance for Full Year 2026

Dave Inc. raised its full-year 2026 guidance across all three metrics . The company now expects GAAP Operating Revenues, Net, to be between $710 million and $720 million, representing 28% to 30% Y/Y growth . Adjusted EBITDA is projected to be $305 million to $315 million, and Adjusted Net Income per Diluted Share is expected to range from $16.25 to $16.75 .

### Related Stocks

- [DAVEW.US](https://longbridge.com/en/quote/DAVEW.US.md)

## Related News & Research

- [Dave Reports First Quarter 2026 Financial Results | DAVE Stock News](https://longbridge.com/en/news/285258919.md)
- [Dave Q1 revenue rises 47%](https://longbridge.com/en/news/285263209.md)
- [Apollo Clarifies Legal Status of Recent 8-K Disclosure](https://longbridge.com/en/news/286564452.md)
- [Karman Holdings Inc Outlook FY Adjusted EBITDA USD 208.5-219.5 Million](https://longbridge.com/en/news/286161766.md)
- [Watts Water Technologies (NYSE:WTS) Releases Earnings Results, Beats Expectations By $0.32 EPS](https://longbridge.com/en/news/285789536.md)