Dave (DAVE) financial statements
Dave reported revenue of $554M in fiscal 2025, up 38.0% a year over 4 years.
Net income was $196M.
Free cash flow was $283M, and the company returned $44M in net buybacks.
The diluted share count rose 239% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Dave's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $153M | $205M | $259M | $347M | $554M |
| Operating income | -$6M | — | — | — | — |
| Interest expense | $3M | $9M | $12M | $8M | $7M |
| Pre-tax income | -$20M | -$129M | -$48M | $60M | $168M |
| Income tax | $0 | -$67,000 | $120,000 | $2M | -$28M |
| Net income | -$5M | -$129M | -$49M | $58M | $196M |
| EPS (diluted) | -$4.69 | -$11.12 | -$4.07 | $4.19 | $13.53 |
| Diluted shares | 4M | 12M | 12M | 14M | 14M |
| Operating margin | -4.2% | — | — | — | — |
| Net margin | -3.4% | -62.9% | -18.7% | 16.7% | 35.3% |
Balance sheet
Fiscal years, from Dave's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and short-term investments | $40M | $23M | $43M | $50M | $81M |
| Total current assets | $100M | $309M | $277M | $282M | $437M |
| Property, plant and equipment | $685,000 | $1M | $1M | $704,000 | $474,000 |
| Total assets | $147M | $321M | $294M | $299M | $487M |
| Total current liabilities | $69M | $36M | $26M | $35M | $114M |
| Long-term debt | $35M | $75M | $75M | $75M | $0 |
| Total liabilities | $108M | $215M | $207M | $116M | $135M |
| Shareholders' equity | $39M | $107M | $87M | $183M | $353M |
| Net debt | $3M | $52M | $33M | $25M | -$81M |
Cash flow
Fiscal years, from Dave's 10-K filings with the SEC.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$2M | -$45M | $34M | $125M | $290M |
| Capital spending | $6M | $9M | $9M | $8M | $7M |
| Free cash flow | -$9M | -$54M | $25M | $118M | $283M |
| Stock-based compensation | $2M | $41M | $27M | $37M | $30M |
| Share buybacks (net) | $0 | -$536,000 | $0 | $0 | -$44M |
| Free cash flow margin | -5.6% | -26.5% | 9.7% | 33.9% | 51.1% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for DAVE.
Open DAVE in InvestinglyQuestions
What was Dave's revenue in 2025?
$554M in fiscal 2025, from its 10-K filing.
How much free cash flow does Dave generate?
$283M in fiscal 2025 (operating cash flow minus capital spending).
From Dave's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.