DAVE

Dave Inc.

Ticker: DAVEFinancialsFinance Services
HQ LOS ANGELES, CACIK 1841408FY end 12-31Book / share $14.81Shares 14M
Revenue (FY)
$554.18M+59.67%
TTM $643.65M
Op. margin
0.00%
Net income
$195.87M+238.44%
TTM $222.64M
Operating cash
$290.02M+131.76%
TTM $326.95M
Free cash flow
$283.25M+140.91%
TTM $319.19M
Return on equity
55.53%+23.92%
TTM 107.09%
Debt / equity
0.21-0.20%
TTM 1.29
Shares outstanding
14.5M+4.76%
TTM 14.0M

The business

Dave Inc. (Nasdaq: DAVE) operates as one of the nation's leading neobanks, providing a mobile-first financial services platform designed to help everyday Americans manage their money more effectively. Founded in 2017 and inspired by the story of David versus Goliath, the company challenges legacy banking by leveraging technology to expand financial access and improve consumer financial health for millions of underserved members.

The company's core business centers on three primary products. ExtraCash, its flagship offering, provides members with up to $500 of short-term credit in the form of discretionary overdraft through bank partners to bridge liquidity gaps between paychecks, without interest, late fees, or credit checks. Dave Checking is a digital demand deposit account with no account minimums or fees and FDIC pass-through insurance, complemented by a Dave branded debit Mastercard accepted at approximately 40,000 MoneyPass ATM network locations. The company also offers personal financial management tools including budgeting, savings goals, and a side hustle job application portal.

Since inception, over 19 million members have signed up for the Dave app, with over 14 million having used at least one product. The company has provided members with over $22 billion in ExtraCash and has donated over $25 million to charity since inception. As of December 31, 2025, Dave employed approximately 280 full-time employees operating on a virtual-first model across more than 30 states.

Dave's competitive advantages stem from proprietary technology, particularly CashAI, its AI-powered underwriting engine trained on over 180 million ExtraCash originations. The platform combines advanced artificial intelligence, machine learning, real-time analytics, and seamless integration with external financial networks. The company operates a fully digital, cloud-native infrastructure that significantly reduces costs to serve compared to traditional banks with expensive branch networks and legacy systems.

The company partners with FDIC-insured banks including Evolve Bank & Trust and Coastal Community Bank to offer its products. Dave generates revenue through merchant interchange, Mastercard incentives, interest on deposits, subscription fees, and overdraft service fees. The company targets approximately 185 million Americans classified as financially vulnerable or coping, representing the addressable market of underserved consumers living paycheck to paycheck.

Sector
Financials
Industry
Finance Services
HQ
LOS ANGELES, CA
FY end
12-31
CIK
1841408
SIC
6199
Financial performance · annual
20222025
$-206.16M$25.61M$257.37M$489.14M$720.91M2022202320242025TTMTTMTTM

Ownership

Who holds Dave Inc. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

303
funds hold it
0 of 35
superinvestors hold it
$1.84B
fund-held value
47.4%
of shares held by funds
1
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.21%$232.88M
Hood River Small-Cap Growth Fund
HRSMX · Manager Directed Portfolios
2.95%$196.50M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$128.19M
iShares Russell 2000 ETF
IWM · iShares Trust
0.12%$98.18M
FULLERTHALER BEHAVIORAL SMALL-CAP GROWTH
FTXNX · Capitol Series Trust
0.78%$48.47M

Bonds held by funds

Funds report holding 1 issues of Dave Inc.'s debt, $80.42M at fund-held market value — what funds hold, not the company's debt outstanding.

IssueCouponMaturesFundsFund-held
DAVE 0 04/01/310.000%None2031-04-0123$80.42M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

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15 years of Dave Inc.'s financials

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