Dave Inc./DE(DAVE)Stock Analysis
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Rank #71 of 2,879 stocksTOP 5%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
DAVE Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Dave Inc./DE (DAVE), a Financials sector company. 13F Pro's AI-powered ranking engine scores DAVE at 78.1/100 on a 32-signal composite quality model, placing it at rank #71 of 2,879 stocks — the top 5% of the AI-ranked universe. DAVE scores in the top quartile across balance sheet strength (99.3), profitability (93.0), free cash flow (92.8). Areas of concern include earnings quality (30.0) and revenue scale (38.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 24.7/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Dave Inc./DE reports quarterly revenue of $158.4M, net income of $57.9M, free cash flow of $82.0M. Top institutional holders of DAVE by reported 13-F value include Hood River Capital Management, BlackRock,, Divisadero Street Capital Management,, based on the most recent SEC filings. DAVE trades on the Nasdaq exchange and files with the SEC under CIK 1841408. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate DAVE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Dave Inc./DE directly from SEC EDGAR. Dave Inc./DE's 13F Pro composite quality score has ranged between 25 and 81 since 2023, currently 78.1 — an improving long-term trajectory across 20 quarterly and live scoring snapshots.
What's Driving DAVE's Business? Latest 10-Q Breakdown
✓ 31/31 datapoints verifiedAI-extracted from Dave Inc./DE's 10-Q filed 2026-05-05 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Dave delivered strong Q1 2026 profitability with $57.9M net income and $158.4M revenue (+47% YoY), boosted by ExtraCash origination growth to $2.1B and $200M convertible notes issuance.
Biggest Revenue Drivers
Total revenue: $158.4M+47% YoY
Processing and overdraft service fees grew 60% to $133.6M driven by 18% increase in transacting Members and ExtraCash originations of $2.1B; subscription revenue grew 105% to $13.9M from June 2025 fee increase.
Interchange revenue grew from increased Checking Product adoption and 9% year-over-year card spend growth; ATM revenue decreased slightly due to temporarily reduced fee rates.
Largest Expense Items
Higher ExtraCash volume growth from $1.5B to $2.1B and 18% increase in transacting Members, with portfolio maturation and strategic focus on gross profit optimization.
Increase in temporary labor and contractor costs of $0.6M offset by $0.4M decrease in stock-based compensation from prior-year vested awards.
Continued investment in Member acquisition with improved customer acquisition cost of approximately $18 and payback periods of nearly three months.
Cost increase driven by ExtraCash origination volume growth from $1.5B to $2.1B.
Margins: Gross operating margins benefited from strong revenue growth, though compressed by 151% increase in provision for credit losses reflecting portfolio expansion. Non-GAAP Adjusted EBITDA of $69.3M increased 57% YoY, demonstrating underlying profitability improvement despite credit reserve build-out associated with $2.1B ExtraCash origination volume.
Watch Items from the Filing
- DOJ lawsuit alleging FTC Act violations and deceptive practices related to ExtraCash product; Company accrued $7.9M for probable and reasonably estimable legal contingencies.
- $75M Debt Facility matures December 2026; Company exploring refinancing, extension, or repayment from cash and operating flows; currently in compliance with all covenants after July 2025 Fifth Amendment removed LTV ratio covenant.
- ExtraCash receivables aged over 120 days increased $13M provision expense reflecting portfolio maturation; historical loss rates remained stable but dependent on macroeconomic conditions and employment trends.
- Issued $200M convertible notes due 2031 at 0% with $17.3M capped call hedges; repurchased $186.7M shares in Q1 2026, reducing net working capital liquidity despite $193.4M net proceeds.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$158.4M
Net Income
Q1 2026
$57.9M
Free Cash Flow
Q1 2026
$82.0M
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+59.7% YoYNet Income
+238.7% YoYEPS (Diluted)
+222.9% YoYTotal Assets
+62.8% YoYTotal Debt
-100.0% YoYOp. Cash Flow
+131.8% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2020 |
|---|---|---|---|---|---|
| Revenue | $554.2M +59.7% | $347.1M +34.0% | $259.1M +26.5% | $204.8M | — |
| Net Income | $196.0M +238.7% | $57.9M +219.3% | $-48.5M +62.4% | $-128.9M | — |
| EPS (Diluted) | $13.53 +222.9% | $4.19 +202.9% | $-4.07 -1071.2% | $-0.35 | — |
| Total Assets | $487.4M +62.8% | $299.3M +1.8% | $294.0M -8.5% | $321.5M | — |
| Total Debt | $0.00 -100.0% | $75.0M +0.0% | $75.0M +0.0% | $75.0M | — |
| Operating Cash Flow | $290.0M +131.8% | $125.1M +270.7% | $33.8M +175.2% | $-44.9M | — |
AI Insight: DAVE Financial Trends
Dave eliminated its $75M debt burden in Q4 2025 while revenue doubled from $80M in Q2 2024 to $158M in Q1 2026.
• Revenue nearly doubled from $80M in Q2 2024 to $158M in Q1 2026, showing strong growth trajectory.
• Operating cash flow more than tripled from $28M in Q2 2024 to $93M in Q4 2025.
• Company eliminated all $75M in debt by Q4 2025, strengthening balance sheet significantly.
• Net income volatility ranges from $0M to $92M across quarters, showing inconsistent profitability patterns.
⚠ Revenue declined 4% sequentially from $164M in Q4 2025 to $158M in Q1 2026.
⚠ Equity dropped sharply from $353M in Q4 2025 to $204M in Q1 2026 despite debt payoff.
AI Insight: DAVE Ratio Trends
Dave Inc. delivered explosive profitability growth with operating margin surging from 0.9% in Q3 2024 to 44.3% in Q1 2026.
• Operating margin expanded dramatically from 0.9% in Q3 2024 to 44.3% in Q1 2026.
• ROE accelerated from 1.2% in Q3 2024 to 113.7% in Q1 2026.
• Debt-to-equity ratio improved from 0.53 in Q2 2024 to 0.00 in Q4 2025.
• ROA surged from 0.7% in Q3 2024 to 43.7% in Q1 2026.
⚠ Profitability remains highly volatile with quarterly swings in operating margin exceeding 30 percentage points.
⚠ ROIC data missing for recent quarters despite strong profitability metrics elsewhere.
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Top Institutional Holders of DAVE
Hood River Capital Management LLC
$199.5M1,145,901 shBlackRock, Inc.
$144.3M828,597 shDivisadero Street Capital Management, LP
$111.6M640,840 shVANGUARD CAPITAL MANAGEMENT LLC
$87.7M503,528 shDivisadero Street Capital Management, LP
$84.4M485,000 shRENAISSANCE TECHNOLOGIES LLC
$75.2M431,800 shGEODE CAPITAL MANAGEMENT, LLC
$56.8M326,340 shSUSQUEHANNA INTERNATIONAL GROUP, LLP
$56.0M321,791 shSUSQUEHANNA INTERNATIONAL GROUP, LLP
$50.7M291,100 shDIMENSIONAL FUND ADVISORS LP
$44.1M253,173 sh
| Fund | Value | Shares |
|---|---|---|
| Hood River Capital Management LLC | $199.5M | 1,145,901 |
| BlackRock, Inc. | $144.3M | 828,597 |
| Divisadero Street Capital Management, LP | $111.6M | 640,840 |
| VANGUARD CAPITAL MANAGEMENT LLC | $87.7M | 503,528 |
| Divisadero Street Capital Management, LP | $84.4M | 485,000 |
| RENAISSANCE TECHNOLOGIES LLC | $75.2M | 431,800 |
| GEODE CAPITAL MANAGEMENT, LLC | $56.8M | 326,340 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $56.0M | 321,791 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $50.7M | 291,100 |
| DIMENSIONAL FUND ADVISORS LP | $44.1M | 253,173 |
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Popular Research
Is DAVE a good stock to buy?
13F Pro's AI-powered analysis of Dave Inc./DE (DAVE) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for DAVE are available on the DAVE stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own DAVE?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling DAVE. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Dave Inc./DE's investment landscape.