DAVE (Dave Inc.) Stock Financials & Earnings | Market Cap Arena

DAVE (Dave Inc.) Stock Financials & Earnings | Market Cap Arena

DAVEDave Inc.

Mkt Cap$3B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Revenue (TTM)$512M

Net Income (TTM)$196M

EPS (TTM)$13.50

Free Cash Flow (TTM)$288M

Gross Margin79.8%

Op. Margin8.0%

Net Margin38.3%

FCF Margin56.3%

P/S Ratio (TTM)5.9x

P/E Ratio (TTM)15.5x

YoY Rev Growth+47.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$59M	$27M	-$12M
Q2 23	$61M	$30M	-$21M
Q3 23	$66M	$59M	$0
Q4 23	$73M	$66M	$2M
Q1 24	$74M	$66M	$5M
Q2 24	$80M	$72M	$6M
Q3 24	$92M	$84M	$3M
Q4 24	$101M	$95M	$21M
Q1 25	$108M	$101M	$35M
Q2 25	$132M	$114M	$41M
Q3 25	$151M	$109M	$46M
Q4 25	$121M	$84M	-$81M

Valuation

Quarter	P/S	P/E
Q1 23	13.7x	—
Q2 23	12.8x	—
Q3 23	12.3x	—
Q4 23	11.7x	—
Q1 24	11.1x	—
Q2 24	10.4x	105.5x
Q3 24	9.5x	73.4x
Q4 24	8.7x	52.3x
Q1 25	7.9x	57.8x
Q2 25	7.0x	55.0x
Q3 25	6.2x	20.6x
Q4 25	5.9x	15.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$7M	-$9M
Q2 23	$10M	$7M
Q3 23	$15M	$13M
Q4 23	$16M	$14M
Q1 24	$18M	$17M
Q2 24	$28M	$26M
Q3 24	$37M	$35M
Q4 24	$42M	$40M
Q1 25	$45M	$44M
Q2 25	$68M	$68M
Q3 25	$83M	$85M
Q4 25	$93M	$91M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2M
Q2 23	$2M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$1M
Q2 25	$127K
Q3 25	$2M
Q4 25	$2M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+38.5%	+9.5%
Q2 23	+33.7%	-16.9%
Q3 23	+15.9%	-30.5%
Q4 23	+22.7%	-10.3%
Q1 24	+24.9%	-4.5%
Q2 24	+30.8%	-9.4%
Q3 24	+40.5%	+36.7%
Q4 24	+37.9%	+11.9%
Q1 25	+46.7%	+6.7%
Q2 25	+64.5%	+21.8%
Q3 25	+63.0%	+16.6%
Q4 25	+20.4%	+153.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$7M	11.5%
Q2 23	$7M	10.8%
Q3 23	$7M	10.2%
Q4 23	$7M	8.9%
Q1 24	$6M	8.3%
Q2 24	$8M	9.6%
Q3 24	$13M	14.4%
Q4 24	$10M	10.0%
Q1 25	$8M	7.0%
Q2 25	$8M	6.3%
Q3 25	$7M	4.8%
Q4 25	$7M	5.7%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 23	—	—	$40M
Q2 23	—	—	$51M
Q3 23	$23M	$14M	—
Q4 23	$24M	$10M	—
Q1 24	$25M	$9M	—
Q2 24	$25M	$11M	—
Q3 24	$31M	$13M	—
Q4 24	$27M	$13M	—
Q1 25	$28M	$10M	—
Q2 25	$26M	$15M	—
Q3 25	—	—	$63M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	38.5%	-16.7%	21.8
Q2 23	33.7%	-30.0%	3.7
Q3 23	15.9%	-11.5%	4.4
Q4 23	22.7%	6.5%	29.2
Q1 24	24.9%	56.2%	81.2
Q2 24	30.8%	10.4%	41.2
Q3 24	40.5%	5.0%	45.6
Q4 24	37.9%	21.5%	59.4
Q1 25	46.7%	34.4%	81.1
Q2 25	64.5%	11.3%	75.8
Q3 25	63.0%	41.2%	104.2
Q4 25	20.4%	55.8%	76.3

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$52M	$143M	$195M
Q2 23	$49M	$128M	$178M
Q3 23	$44M	$126M	$170M
Q4 23	$42M	$114M	$156M
Q1 24	$56M	$44M	$100M
Q2 24	$49M	$40M	$88M
Q3 24	$35M	$40M	$75M
Q4 24	$50M	$41M	$90M
Q1 25	$47M	$41M	$88M
Q2 25	$62M	$41M	$103M
Q3 25	$50M	$42M	$92M
Q4 25	$297M	$123M	$421M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	12M	+0.6%
Q2 23	12M	+0.1%
Q3 23	12M	+0.6%
Q4 23	13M	+4.9%
Q1 24	13M	+4.9%
Q2 24	14M	+3.0%
Q3 24	14M	+2.9%
Q4 24	14M	+3.6%
Q1 25	15M	+1.5%
Q2 25	15M	-0.6%
Q3 25	15M	-0.2%
Q4 25	14M	-0.6%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 19	—	—
FY 20	—	—
FY 21	$602K	254
FY 22	$640K	320
FY 23	$909K	285
FY 24	$1M	274
FY 25	$2M	280