Start here if you're new
what it is
Dave gives you small cash advances, digital checking, and savings tools for people who need money before payday.
how it gets paid
Last year Dave made $554M in revenue.
why it's growing
Revenue grew 59.7% last year. 159% revenue growth matters most because hyper-growth plus profit is the exact mix the market is paying 52.8x earnings for.
what just happened
Revenue hit $390M, up 159% vs. prior year, while EPS reached $8.96.
At a glance
B+ balance sheet — decent shape, but not bulletproof
52.8x trailing p/e — you're paying up for this one
15.5% return on capital — nothing to write home about
$2.62 fy2024 eps est
$347M fy2024 rev est
xvary composite: 51/100 — below average
What they do
Dave gives you small cash advances, digital checking, and savings tools for people who need money before payday.
Dave wins by being cheaper and faster when your cash is tight. If your paycheck is late, ExtraCash offers up to $500 at 0% interest and says it can arrive in 5 minutes or less. Dave also produced $554 million in annual revenue with 274 employees, or about $2.0 million per employee, which tells you this model scales without a branch army.
How they make money
$554M
annual revenue · their business grew +59.7% last year
total revenue
$554M
+59.7%
The products that matter
small cash advances
ExtraCash™ Advances
$387.8M · ~70% of revenue mix shown here
this is the engine. it grew 62% and pairs with a reported 70% gross margin. in human-speak: this is where Dave makes the story work, and where regulators are looking hardest.
core driver
digital checking account
Dave Checking
$110.8M · +55%
this $110.8M business matters because it keeps users inside the app between advances. it is growing fast. it is still much smaller than ExtraCash.
retention layer
adjacent fee services
Other Services
$55.4M · +58%
at $55.4M, this bucket is growing like a future offset and sized like a sidecar. you need both growth and scale before it changes the debate.
not big enough yet
Key numbers
$75M
long-term debt
That is just 3% of capital, so leverage is not the thing that breaks this story.
15.5%
return on capital
Return on capital → profit earned on money invested in the business → so what: Dave is now generating solid returns, not just app downloads.
12.2%
operating margin
Operating margin → profit after core costs → so what: this is no longer a pure growth story with red ink everywhere.
52.8x
trailing p/e
P/E → how many dollars you pay for one dollar of profit → so what: you are buying execution, not a bargain.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $75M (3% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for DAVE right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $390M, up 159% vs. prior year, while EPS reached $8.96.
The big story is the swing from losses to real profitability. Quarterly EPS moved from negative results through 2023 to four positive quarters in 2024, ending with $1.17 in Q4 2024 on the base data, while the latest reported quarter showed even faster top-line growth.
$139M
revenue
$8.96
eps
70.2%
gross margin
the number that mattered
159% revenue growth matters most because hyper-growth plus profit is the exact mix the market is paying 52.8x earnings for.
source: company earnings report, 2026
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What could go wrong
Dave's main problem is simple to describe and hard to price: the product driving roughly $387.8M of the revenue mix shown here is also the product federal agencies are challenging.
high
DOJ and FTC civil enforcement action
Federal agencies allege Dave used deceptive advertising and hidden-fee practices tied to its cash advance product. This is not background noise. It is a direct challenge to the product at the center of the story.
Exposes the business segment responsible for roughly $387.8M of revenue in the mix shown here
high
Margin compression if the model is forced to change
Dave's reported 70% gross margin is part of why the equity story works. If disclosures, pricing, or product design change under legal pressure, that margin can come down fast.
Puts pressure on a business currently showing 35% net margin
med
Premium multiple risk
A 52.8x trailing p/e leaves less room for disappointment than an ordinary consumer finance stock gets. When you pay this much for each dollar of earnings, bad news rarely arrives alone.
Valuation is more than 6x the 8.02x industry average
med
Volatile stock behavior
Price stability is 5 out of 100, and the stock traded between $65 and $286 over 52 weeks. That kind of range turns being early into its own risk.
High volatility raises the cost of being wrong on timing
A forced change to ExtraCash would hit the product generating about $387.8M of revenue in this snapshot's segment view, not some side project. Here's what you should care about: this is concentration risk wearing a regulatory label.
source: institutional data · regulatory filings · risk analysis
Pay attention to
legal
any change in the ExtraCash case
Watch for settlements, dismissals, or remedies tied to advertising, fees, or disclosures. If the legal fix changes unit economics, the stock will care immediately.
margin
70% gross margin
That number is the bull case in one line. If it slips, the premium multiple gets much harder to defend.
earnings
the next management update
The next report needs to do more than show growth. You want commentary on legal exposure, customer behavior, and whether the current model still looks intact.
capital
how the $175M raise gets used
Share repurchases help per-share math. They do not solve a regulatory problem. Watch whether capital allocation starts to look more defensive than opportunistic.
Analyst rankings
xvary composite
51 / 100
below average overall. in human-speak, the growth is real but the risk stack is too large to ignore.
valuation read
premium
52.8x trailing earnings versus an 8.02x industry average. You are not buying cheapness. You are buying execution that stays clean.
stability read
low
price stability is 5 / 100. this stock does not behave like a defensive financial.
source: institutional data
Institutional activity
institutional ownership data for DAVE is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$230
current price
n/a
target midpoint · n/a from current
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