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.