Dave (DAVE) AI Stock Analysis

• Market Cap: $2.56B
• Dividend Yield: N/A
• Average Volume (3M): 703.92K
• Price to Earnings (P/E): 49.7
• Beta (1Y): 2.15
• Revenue Growth: 47.95%
• EPS Growth: 81.91%
• Country: US
• Employees: 274
• Sector: Technology
• Sector Strength: 83
• Industry: Software - Application
• EPS (TTM): 0.62
• Shares Outstanding: 12,084,643
• 10 Day Avg. Volume: 627,220
• 30 Day Avg. Volume: 703,917
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.51
• Enterprise Value/Revenue: 8.96
• Enterprise Value/Gross Profit: 9.85
• Enterprise Value/Ebitda: 49.49
• 1Y Price Target: $269.00
• Price Target Upside: 35.18% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 75 Outperform
• Price Target: $224.00 ▲(12.56% Upside)

Dave's overall stock score is driven by strong financial performance and a very positive earnings call, highlighting robust growth and strategic initiatives. However, high valuation metrics and technical indicators suggest caution, as the stock may be overvalued and experiencing bearish momentum.

Positive Factors

Earnings

Dave's Q2/25 financial results were much better than expectations, with revenue and adjusted EBITDA exceeding forecasts.

Financial Performance

The company's revenue increased by 64% year-over-year and exceeded estimates by almost 17%.

Negative Factors

Delinquency Rates

There was a 37bps increase in the 28-day delinquency rate compared to the prior year.

Market Reaction

Dave Inc.’s (DAVE) share price declined by almost 12% during Friday’s trading session after Bloomberg News reported that JPMorgan Chase intended to begin charging fintech firms for access to customer bank data.

Dave Business Overview & Revenue Model

Company Description

Dave (DAVE) is a financial technology company that provides a range of banking and personal financial management services. The company's core offerings include budgeting tools, cash advance services, and a spending account with a debit card. Dave aims to help its users avoid bank overdraft fees, improve their financial health, and manage their expenses more effectively.

How the Company Makes Money

Dave makes money primarily through its subscription service, which offers users access to premium features like budgeting tools and cash advance options for a monthly fee. Additionally, the company generates revenue from interchange fees when customers use their Dave debit cards for transactions. Dave also partners with various financial institutions and service providers to enhance its product offerings and expand its market reach, contributing to its revenue streams.

Dave Financial Statement Overview

Summary

Dave exhibits strong financial performance with robust revenue growth and profitability, supported by excellent cash flow management. The significant reduction in leverage enhances financial stability, while high gross profit margins indicate effective cost control. However, maintaining net profit margins and ensuring consistent returns on equity remain areas for potential improvement.

Income Statement

Dave has shown impressive revenue growth with a 10.87% increase in the TTM period. The gross profit margin is exceptionally high at 92.20%, indicating strong cost management. However, the net profit margin has slightly decreased from the previous year, suggesting increased expenses or other financial pressures. Overall, the company demonstrates strong revenue growth and profitability, but there is room for improvement in net profit margins.

Balance Sheet

The debt-to-equity ratio has significantly improved to 0.002, indicating a strong reduction in leverage and a solid equity position. Return on equity remains robust at 29.19%, reflecting efficient use of equity to generate profits. The equity ratio is healthy, suggesting a stable financial structure. However, the company should continue to monitor its equity returns to maintain this positive trajectory.

Cash Flow

Dave's free cash flow growth rate is impressive at 27.96%, indicating strong cash generation capabilities. The operating cash flow to net income ratio is high, suggesting efficient cash conversion from profits. The free cash flow to net income ratio is nearly 1, showing that the company is effectively converting its net income into free cash flow. Overall, cash flow management appears strong, supporting the company's growth and operational needs.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	433.06M	347.08M	259.09M	204.80M	153.00M	121.80M
Gross Profit	393.81M	316.70M	135.26M	172.90M	129.50M	100.15M
EBITDA	78.39M	76.02M	-31.08M	-113.18M	-14.27M	-5.08M
Net Income	55.12M	57.87M	-48.52M	-128.90M	-20.00M	-6.96M
Balance Sheet
Total Assets	363.56M	299.33M	294.02M	321.49M	147.19M	76.41M
Cash, Cash Equivalents and Short-Term Investments	102.85M	90.29M	155.94M	191.96M	32.00M	22.45M
Total Debt	75.38M	75.55M	181.29M	178.15M	73.64M	6.11M
Total Liabilities	146.49M	116.23M	206.96M	214.93M	108.45M	26.56M
Stockholders Equity	217.07M	183.10M	87.06M	106.56M	-33.40M	49.84M
Cash Flow
Free Cash Flow	193.94M	124.88M	25.17M	-54.20M	-47.18M	-13.37M
Operating Cash Flow	192.23M	125.14M	33.75M	-44.88M	-40.70M	-9.15M
Investing Cash Flow	-159.29M	-45.84M	-14.38M	-285.58M	3.00M	3.42M
Financing Cash Flow	-19.55M	-71.00M	22.00K	321.77M	65.05M	4.24M

Dave Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 199.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DAVE, the sentiment is Positive. The current price of 199 is below the 20-day moving average (MA) of 206.85, below the 50-day MA of 218.56, and above the 200-day MA of 134.48, indicating a neutral trend. The MACD of -7.09 indicates Positive momentum. The RSI at 47.21 is Neutral, neither overbought nor oversold. The STOCH value of 41.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DAVE.

Dave Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DAVE	75 Outperform	$2.56B	49.72	30.72%	―	47.95%	81.91%
OLO	71 Outperform	$1.73B	593.71	-0.13%	―	21.92%	95.91%
SPT	63 Neutral	$854.59M	―	-32.50%	―	14.79%	27.52%
SEMR	60 Neutral	$1.15B	182.58	-0.50%	―	22.16%	-107.92%
AMPL	59 Neutral	$1.48B	―	-33.99%	―	9.93%	-11.15%
Sector *	50 Neutral	AU$1.63B	-0.40	3.91%	3.39%	16.91%	-3.75%

Dave Corporate Events

Dave Inc. Announces New $125M Share Repurchase Program

On August 13, 2025, Dave Inc. announced that its Board of Directors has authorized a new share repurchase program to buy back up to $125 million of its outstanding Class A common stock, replacing the previous $50 million authorization. This move reflects the company’s confidence in its business model and aims to deliver attractive returns to shareholders while continuing to invest in long-term strategic priorities.

Dave Amends Agreement with Coastal Community Bank

On August 4, 2025, Dave Operating LLC, a subsidiary of Dave Inc., amended its agreement with Coastal Community Bank to manage up to $225 million in receivables, which will be sold to Dave after 60 days. This move is expected to impact the company’s financial operations and partnership dynamics. Additionally, Dave Inc. reported significant financial growth for the second quarter of 2025, with a 64% increase in revenue to $131.7 million and a 42% rise in net income to $9.1 million. The company also raised its 2025 revenue and adjusted EBITDA guidance, reflecting strong performance and confidence in future growth.

Dave Inc. Promotes Kyle Beilman to CFO and COO

On July 14, 2025, Dave Inc. announced the promotion of Kyle Beilman to Chief Financial Officer and Chief Operating Officer, effective July 11, 2025, reflecting his significant contributions to the company’s financial success and operational efficiency. The promotion includes adjustments to his compensation package, including a salary increase, bonuses, and equity awards, underscoring his pivotal role in driving innovation and sustainable growth at Dave Inc.

Dave Inc. Stockholders Approve Key Proposals at Annual Meeting

At the 2025 annual meeting held on June 2, Dave Inc. stockholders voted on two key proposals. The first was the election of Michael Pope and Yadin Rozov as Class I directors for three-year terms ending in 2028. The second proposal ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Approximately 90.84% of the voting power was represented at the meeting, indicating strong shareholder engagement.