---
title: "DAVE INC C/WTS 05/01/2027 (TO PUR COM) | 8-K: FY2026 Q2 Revenue: USD 170.8 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295008631.md"
datetime: "2026-08-05T20:17:24.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295008631.md)
  - [en](https://longbridge.com/en/news/295008631.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295008631.md)
generator: "portal-rs"
---

# DAVE INC C/WTS 05/01/2027 (TO PUR COM) | 8-K: FY2026 Q2 Revenue: USD 170.8 M

Revenue: As of FY2026 Q2, the actual value is USD 170.8 M.

EPS: As of FY2026 Q2, the actual value is USD 0.49.

EBIT: As of FY2026 Q2, the actual value is USD 15.4 M.

### Financial Overview (Q2 2026)

#### Revenue

GAAP Operating Revenues, Net for the second quarter ended June 30, 2026, was $170.8 million, representing a 30% year-over-year increase compared to the prior year period.

-   **Service based revenue, net**: $160.0 million for Q2 2026, up from $121.5 million in Q2 2025. This includes processing and overdraft service fees, net of $144.9 million, and subscriptions of $15.1 million.
-   **Transaction based revenue, net**: $10.8 million for Q2 2026, up from $10.2 million in Q2 2025. This comprises interchange revenue, net of $6.0 million, ATM revenue, net of $0.6 million, and other transaction-based revenue of $4.2 million.

#### Profitability

-   **Non-GAAP Gross Profit**: $123.8 million for Q2 2026, an increase of 34% year-over-year from $92.0 million in Q2 2025.
-   **Non-GAAP Gross Profit Margin**: 72% for Q2 2026, an improvement of 300 basis points year-over-year from 70% in Q2 2025.
-   **GAAP Net Income**: $6.7 million for Q2 2026, a -26% decrease year-over-year from $9.1 million in Q2 2025, including $36.9 million of non-cash warrant and earnout remeasurement charges.
-   **Adjusted Net Income**: $56.4 million for Q2 2026, a 39% increase year-over-year from $40.5 million in Q2 2025.
-   **Adjusted EBITDA**: $75.5 million for Q2 2026, a 48% increase year-over-year from $50.9 million in Q2 2025.
-   **Adjusted EBITDA Margin**: 44% for Q2 2026, up from 39% in Q2 2025.

#### Operating Expenses (for the three months ended June 30, 2026)

-   **Provision for credit losses**: $28.8 million.
-   **Processing and servicing costs**: $10.3 million.
-   **Financial network and transaction costs**: $7.9 million.
-   **Advertising and activation costs**: $20.3 million.
-   **Compensation and benefits**: $35.7 million.
-   **Technology and infrastructure**: $3.8 million.
-   **Other operating expenses**: $11.7 million.
-   **Total operating expenses**: $118.5 million.

#### Liquidity

As of June 30, 2026, cash, cash equivalents, investments, and restricted cash totaled $254.4 million, an increase of $76.6 million from $177.8 million as of March 31, 2026. This increase was primarily driven by $93.0 million funded through the Coastal Community Bank arrangement, partially offset by $19.1 million in share repurchases during the quarter.

#### Operational Highlights (Q2 2026 vs Q2 2025)

-   **New members**: Increased 32% to 951,000.
-   **Monthly Transacting Members (MTMs)**: Increased 17% to 3.08 million.
-   **ExtraCash originations**: Increased 27% to $2.3 billion.
-   **ExtraCash Monetization Rate Net of Losses**: Expanded nearly 9 basis points to 4.8%.
-   **28-day past due rate**: Improved 6% to 2.12%.
-   **Dave Debit Card spend**: Increased 7% to $530 million.
-   **Customer acquisition cost (CAC)**: Held flat at $19.

#### Outlook and Guidance

Dave Inc. has raised its full-year 2026 guidance, now expecting GAAP Operating Revenues, Net to be between $725 million and $735 million, representing 31% to 33% year-over-year growth. Adjusted EBITDA guidance is raised to $315 million to $325 million, and Adjusted Net Income per Diluted Share is projected to be $17.00 to $17.50. The company also anticipates MTM growth to accelerate in the second half of 2026 and non-GAAP gross margin to continue expanding into the mid-70s.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**