Dave (DAVE) Q2 FY26 earnings call

Earnings call· Jun 2026 (Q2 FY26)· Information Technology· Aug 5, 2026

Source: earnings call transcript

Dave delivered robust Q2 FY26 results, driven by strong member acquisition and effective monetization strategies, leading to raised full-year guidance across all key metrics. The company is strategically increasing marketing investment and leveraging its new Cash AI V6 model and fee cap removals to drive higher ExtraCash limits and ARPU, while transitioning to a more capital-efficient funding model with Coastal Community Bank. The focus remains on credit product differentiation and expanding wallet share rather than direct deposit penetration.

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DAVE operating KPIs by quarter

DAVE operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2025 Q4 FY25	This call Jun 2026 Q2 FY26	Change vs prior quarter
Monthly transacting members	2.9M Our 2.9 million MTMs are still a small fraction of the overall $185 million customer TAM and we believe we're still early in our journey to drive incremental ARPU through underwriting enhancements, new ExtraCash features and price optimization and new credit products. Source: earnings call transcript	3.08M Growth was driven by a 17% increase in MTMs to $3.08 million and 11% ARPU growth. Source: earnings call transcript	+6.2%
New members acquired	867K In Q4, we acquired 867,000 new members, up 13% year-over-year at a $20 tax. Source: earnings call transcript	951K We added 951,000 new members in the quarter, up 32% year-over-year, our fastest growth in nearly four years, and we delivered it at many times the scale we had back then. Source: earnings call transcript	+9.7%
Originations ExtraCash	$2.2B Originations reached a record $2.2 billion, up 50% year-over-year, driven by 19% MTM growth and a 20% increase in average ExtraCash size of $214. Source: earnings call transcript	$2.3B Originations reached $2.3 billion, up 27% year-over-year as member engagement and overall demand remains very strong. Source: earnings call transcript	+4.5%
Average loan size ExtraCash	$214 Originations reached a record $2.2 billion, up 50% year-over-year, driven by 19% MTM growth and a 20% increase in average ExtraCash size of $214. Source: earnings call transcript	$215 Additionally, average ExtraCash size reached a new high of 215, meaning members are getting more of the short-term liquidity they need for gas, groceries and rent from Dave while also driving incremental monetization for us. Source: earnings call transcript	+0.5%
Total card spend Dave Card	$534M Total card spend grew 17% year-over-year to $534 million. Source: earnings call transcript	~$530M Dave Card was approximately $530 million, up 7% year-over-year as card volume continues to benefit from its natural synergy with ExtraCash. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.