Dave Inc. reported third‑quarter 2025 results that included record revenue of $150.8 million, a 63% year‑over‑year increase, and net income of $92.0 million. Adjusted EBITDA reached $58.7 million, up 137% from the same quarter in 2024. For comparison, Q3 2024 revenue was $92.5 million and net income was $0.5 million, while Q2 2025 revenue was $131.7 million and net income was $9.1 million.
ExtraCash origination volume grew 49% to more than $2 billion, and the net monetization rate improved to 4.8%, a 45‑basis‑point gain year‑over‑year. Payback periods shortened to under four months, and the 28‑day delinquency rate was 2.33% in Q3 2025 versus 1.78% in Q3 2024.
Dave lifted its 2025 revenue guidance to $544–$547 million and adjusted EBITDA guidance to $215–$218 million, reflecting confidence in continued growth and margin expansion. Cash balances stood at $93.6 million after a $25 million share‑repurchase program and increased receivables.
CEO Jason Wilk highlighted the impact of the new CashAI v5.5 rollout, which has driven larger origination sizes and lower delinquency rates. The company also cited improved credit performance and operational efficiencies as key drivers of the sharp rise in net income.
Dave’s performance underscores its position as a profitable fintech challenger focused on individuals living paycheck‑to‑paycheck. The company’s emphasis on unit economics and operating leverage supports a sustainable growth model in a competitive neobank landscape.
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