Dave Inc./De

EBITDA Increases 57% Y/Y to $69.3 Million Deploys Approximately $195 Million in Share Repurchase Activity, Representing 7.0% of Shares Outstanding Raises 2026 Revenue, Adj.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

The $54.6 million increase was primarily driven by $82.0 million of net cash provided by operating activities and $175.7 million of net proceeds from our convertible notes offering (net of $24.3 million paid for the capped call transactions, purchasers’ discounts and transaction costs), partially offset by $186.7 million of share repurchases and $8.2 million in tax payments related to the net share settlement of equity awards.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

The Company maintains $113.3 million of remaining capacity under its existing share repurchase authorization and expects to continue deploying capital opportunistically, subject to market conditions.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

On capital allocation, we deployed $194.9 million in share repurchase activity during Q1, exceeding net proceeds from our convertible note offering.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

We intend to continue repurchasing shares opportunistically as a core component of our capital allocation strategy.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

As of June 30, 2026 As of December 31, 2025 Assets Cash and cash equivalents $ 39,339 $ 30,935 Investments 20,294 19,964 Member receivables, net of allowance for credit losses 179,862 206,595 Debt facility commitment fee, current 80 162 Total assets $ 239,575 $ 257,656 Liabilities Accounts payable $ 534 $ 560 Debt facility, current 75,000 75,000 Total liabilities $ 75,534 $ 75,560 See accompanying notes to the condensed consolidated financial statements.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026

htm EX-99.1 EX-99.1 Exhibit 99.1 Dave Reports First Quarter 2026 Financial Results Q1 Revenue Grows 47% Y/Y to $158.4 Million Driven by Continued MTM Growth and ARPU Expansion 28-DPD Rate Reaches Record Q1 Low of 1.69%, While Net Monetization Expands to 5.1%, Marking Its Highest Level in Over Four Years Q1 Net Income Grows 101% Y/Y to $57.9 Million; Adj.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

Despite the typical dynamics of tax refund season and elevated refunds, demand remained strong with 18% year-over-year MTM and 24% year-over-year ARPU expansion – both above our stated targets.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

These results reflect what we believe is durable, structurally strong member demand: customer acquisition efficiency is nearing all-time highs with payback periods at nearly 3 months, and our growing product roadmap — with Pay in 4 card member testing underway — gives us strong conviction in our ability to deliver on our growth algorithm for many years to come.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

We intend to continue repurchasing shares opportunistically as a core component of our capital allocation strategy.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

All statements contained in this report other than statements of historical fact, including statements regarding our future results of operations, financial position, market size and opportunity, our business strategy and plans, the factors affecting our performance and our objectives for future operations are forward-looking statements.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026

The Company defines and 4 calculates adjusted EBITDA as GAAP net income before the impact of interest income or expense, provision for income taxes, depreciation and amortization, and adjusted to exclude non-recurring legal settlement and litigation expenses, stock-based compensation expense, discretionary or non-recurring income, changes in fair value of earnout liability and changes in fair value of public and private warrant liabilities.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

The Company defines and calculates adjusted net income as GAAP net income adjusted to exclude stock-based compensation, discretionary or non-recurring income, non-recurring legal settlement and litigation expenses, the income tax impact related to the release of the valuation allowance, the income tax impact related to stock-based compensation, changes in fair value of earnout liability and changes in fair value of public and private warrant liabilities.

SEC original ↗Dave Inc./De — Earnings release (8-K exhibit)EX-99May 5, 2026

Legal Proceedings 62 Item 1A.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026

These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the section titled Risk Factors set forth in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the Securities and Exchange Commission (the SEC ) on March 2, 2026 (the Annual Report ), as further updated in Part II, Item 1A "Risk Factors" of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and this Form 10-Q and in our other filings with the SEC.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026

In light of these risks, uncertainties and assumptions, the future events and trends discussed in this report may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026

We caution you that the foregoing list of judgments, risks and uncertainties that may cause actual results to differ materially from those in the forward-looking statements may not be complete.

SEC original ↗Dave Inc./De — 10-Q Quarterly report10-QAug 5, 2026