| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 39 | 22.6x | 17.8x | Bottom tier | |
Growth | 96 | 48.6% | 7.1% | Top tier | |
Quality | 97 | 61.7% | 4.5% | Top tier | |
Safety | 83 | 0.2x | 2.6x | Top tier | |
Capital Return | 24 | — | 2.12% | Bottom tier | |
Momentum | 91 | 115.7% | 2.9% | Top tier | |
Sentiment | 46 | 8 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Dave Inc. operates in U.S. financial technology, focusing on providing short-term liquidity through ExtraCash to consumers who link their bank accounts to the platform, without requiring direct deposit of their paychecks to Dave. Monetization relies primarily on ExtraCash fees, which increase as withdrawal limits rise, alongside high-margin subscriptions and Dave Card activity, while the company tests Dave Flex Card as a longer-duration credit product that uses CashAI for underwriting. Management targets a serviceable market of 185 million customers in the United States, with a strategic focus on making its credit products top of wallet for customer spending rather than making direct deposit a primary objective.
In fiscal Q2 2026 ended June 30, 2026, revenue increased 30% year over year to approximately $171 million, marking the ninth consecutive quarter in which the company achieved growth of at least 30%. Non-GAAP gross profit reached $124 million, with a margin of 72%, representing a year-over-year improvement of approximately 300 basis points, while adjusted earnings before interest, taxes, depreciation, and amortization increased 48% to $76 million, with a margin of 44%. GAAP net income was $7 million after recording $37 million in non-cash expenses related to the revaluation of warrant and earnout liabilities, while adjusted net income increased 39% to $56 million and adjusted diluted earnings per share reached $4.12.
The growth mix in fiscal Q2 2026 came from a 17% increase in monthly transacting members to 3.08 million members and an 11% rise in average revenue per user. The share of high-margin subscriptions increased to 9% of revenue, compared with 6% a year earlier, while Dave Card transaction volume reached approximately $530 million, up 7%. These figures confirm that ExtraCash, member growth, and average revenue per user remain the primary drivers, as management does not expect a material revenue contribution from Dave Flex during fiscal 2026.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $427.71 and a wide range between $310 and $475; the average is approximately 6.7% below the 52-week high of $458.25, while the highest target exceeds that peak. No established price-to-earnings multiple is available within the provided data, so the stock's valuation here is based on the breadth of analysts' target range and Dave's ability to achieve its raised fiscal 2026 outlook while controlling credit losses and marketing spending.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Revenue increased 30% year over year to approximately $171 million, driven by a 17% increase in monthly transacting members to 3.08 million and an 11% rise in average revenue per user. The company added 951 thousand new members, up 32%, while customer acquisition cost remained steady at $19. ExtraCash originations also increased 27% to $2.3 billion, and the average ExtraCash amount reached $215. This helped increase adjusted earnings before interest, taxes, depreciation, and amortization by 48% to $76 million, with a margin of 44%.
CashAI v6 uses more than 700 features, including approximately 400 new features, and had been deployed to roughly one-third of users by August 5, 2026. Initial tests showed higher average ExtraCash amounts and lower loss rates, with a better ability to differentiate risk among customers. Dave aims to use the model to increase gross profit dollars within a controlled loss range, rather than merely reducing losses to the lowest possible level. Management links higher limits to improved conversion, retention, reactivation, and average revenue per user.
Dave removed the $15 fee cap for new members and then for a large portion of existing members, and planned to raise the cap to $20 for the remaining members in late August 2026. Management said the impact of the change was limited in fiscal Q2 2026 because it primarily covered new cohorts that typically begin with small limits. However, according to management's response, nearly the majority of existing withdrawals fall within the category that could benefit from higher fees above $300. The new pricing gives the company room to test limits above $500 and increase monetization from members with longer track records and lower loss rates.
Management expects revenue of between $725 million and $735 million, equivalent to annual growth of 32% at the midpoint. It expects adjusted earnings before interest, taxes, depreciation, and amortization of between $315 million and $325 million, and adjusted diluted earnings per share of between $17 and $17.50 based on an effective tax rate of 23%. The assumptions include gross margin expansion toward the mid-70% range and increased advertising and activation spending during the second half of fiscal 2026. The outlook does not include a material revenue contribution from Dave Flex.
The provision for credit losses reached $29 million in fiscal Q2 2026, up 14%, alongside growth in ExtraCash originations and plans to raise limits above $500. Additional investment in marketing, product development, and artificial intelligence will also limit fixed-cost leverage over the next two quarters, according to management. Dave Flex remains in testing and is not expected to generate material revenue during fiscal 2026, while the company also faces competition from earned wage access products. The Department of Justice matter remains outstanding, with no updates announced on the August 5, 2026 call.
