DAVE - Dave reports Q4 results
2023-03-06 16:45:57 ET
- Dave press release ( NASDAQ: DAVE ): Q4 Revenue of $59.6M (+44.7% Y/Y) misses by $0.37M .
- Added 543,000 Net New Members while reducing customer acquisition cost by 31%. Total members increased 7% to 8.3 million.
- Monthly Transacting Members (“MTMs”) increased 4% to 1.9 million. Transactions per MTM increased 12% to 5.2.
- ExtraCash originations increased 6% to $801 million while the 28-Day delinquency rate improved 49 basis points to 3.58%.
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For fiscal 2023, the Company expects the following:
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Non-GAAP operating revenue between $235 million - $260 million, reflecting annual growth of 11% - 23%;
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Non-GAAP variable margin to expand to 43% - 47%, representing approximately 200 bps - 600 bps improvement from 2022; and
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Adjusted EBITDA (Loss) between ($50) million - ($35) million, improving approximately 43% - 60% from 2022.
For further details see:
Dave reports Q4 results