Fubotv earnings beat by $0.10, revenue topped estimates
LOS ANGELES - Dave Inc. (NASDAQ:DAVE), a leading neobank, saw its shares soar 11.5% after reporting fourth-quarter results that significantly exceeded analyst expectations and providing an upbeat outlook for fiscal year 2025.
The company reported adjusted earnings per share of $2.04 for the fourth quarter, dramatically surpassing the analyst estimate of -$1.13. Revenue for the quarter came in at $100.9 million, up 38% YoY and well above the consensus estimate of $79.75 million.
Dave’s strong performance was driven by robust member demand and improved execution. ExtraCash originations increased 44% YoY to $1.5 billion, supported by member growth and higher average originations per member. The company’s AI-powered underwriting continued to enhance credit performance, contributing to record non-GAAP variable margin.
"We closed out the year with record-setting results, delivering another quarter of exceptional growth and profitability," said Jason Wilk, Founder and CEO of Dave.
Looking ahead, Dave provided guidance for fiscal year 2025, projecting revenue between $415 million and $435 million, above the analyst consensus of $408.5 million. This outlook represents YoY growth of 20% to 25%.
The company also reported strong liquidity, with $91.9 million in cash, cash equivalents, marketable securities, investments, and restricted cash as of December 31, 2024, up from $76.7 million at the end of the previous quarter.
Dave’s CFO, Kyle Beilman, expressed confidence in the company’s growth trajectory, stating, "Given our growth trajectory, strong variable margins and the scalability of our business model, we expect to drive another record year of performance in 2025."
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