DAVEW - Dave Inc. (DAVE) Q1 2024 Earnings Call Transcript
2024-05-07 13:28:39 ET
Dave Inc. (DAVE)
Q1 2024 Earnings Conference Call
May 07, 2024 08:30 AM ET
Company Participants
Jason Wilk - Chief Executive Officer
Kyle Beilman - Chief Financial Officer
Conference Call Participants
Devin Ryan - JMP Securities
Gary Prestopino - Barrington Research
Zachary Gunn - FT Partners
Presentation
Operator
Good morning, everyone, and thank you for participating in today's conference call to discuss Dave's Financial Results for the First Quarter Ended March 31, 2024. Joining us today are Dave's CEO, Mr. Jason Wilk; and the company's CFO, Mr. Kyle Beilman. By now, everyone should have access to the first quarter 2024 earnings press release, which was issued earlier today. This release is available in the Investor Relations section of Dave's website at investors.dave.com. In addition, this call will also be available for webcast replay on the company's website. Following management's remarks, we'll open the call to your questions.
Certain comments made on this conference call and webcast are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC. Do not place undue reliance on forward-looking statements, which are being made only as of the date of this call. Except as required by law, the company undertakes no obligation to revise or publicly release the results of any revision to any forward-looking statements.
The company's presentation also includes certain non-GAAP financial measures, including adjusted EBITDA as supplemental measurements of performance of our business. All non-GAAP measurements have been reconciled to the most directly comparable GAAP measure in accordance with the SEC rules. You'll find reconciliation charts and other important information in the earnings press release Form 8-K furnished by the SEC.
I would now like to turn the call over to Dave's CEO, Mr. Jason Wilk. Please go ahead.
Jason Wilk
Thank you, and good morning, everyone. Dave's strong business performance from last year continued into 2024, as we exceeded our growth and profitability targets in the first quarter. Revenue grew by 25% year-over-year, our second consecutive quarter of accelerating revenue growth and our operating expenses declined on a year-over-year basis for the fourth consecutive quarter, as we continue to lean into the operating leverage inherent in our business model....
Dave Inc. (DAVE) Q1 2024 Earnings Call Transcript