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Dave Q3 Earnings Coming Up: What to Expect From the Stock?
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Key Takeaways
Dave's Q3 revenues are projected to rise 26.76% to $191.15 million, with EPS expected to grow 4.95% to $4.45.
Higher member activity, ExtraCash originations and improved monetization are likely to drive DAVE's Q3 growth.
Dave's higher marketing and AI spending could limit operating leverage, while credit trends remain in focus.
Dave Inc. (DAVE - Free Report) is slated to release third-quarter 2026 results on Nov. 4, after market close. The company’s quarterly results are likely to display an increase in both revenues and earnings per share.
In the last reported quarter, Dave reported adjusted earnings of $4.12 per share, beating the Zacks Consensus Estimate by 11.65%. The metric increased 48% from $2.78 in the year-ago quarter. Operating revenues rose 30% year over year to $170.8 million, surpassing the Zacks Consensus Estimate by 0.6%. Growth was supported by higher Monthly Transacting Members, increased ExtraCash originations and continued ARPU expansion.
Over the trailing four quarters, the company’s EPS surpassed the Zacks Consensus Estimate on each occasion, with an average beat of 32.38%. This is depicted in the graph below:
Dave is likely to report another quarter of solid revenue growth, supported by rising member activity and demand for short-term cash advances. Management expected monthly transacting member growth to accelerate in the second half of 2026, as increased marketing spending helped attract and activate customers during the third quarter.
ExtraCash originations are likely to have benefited from CashAI v6.0, designed to support larger advances and improve conversion. Easing fee caps is expected to have strengthened revenue per transaction, while subscriptions and greater engagement among existing members may have supported monetization. However, an influx of newer members could have tempered average revenue per user.
Credit quality will be important. Management specifically expected third-quarter loss rates to remain near second-quarter levels despite larger advances. The Wednesday quarter-end was also expected to be favorable for loss provisions relative to originations, supporting gross margins. Management projected non-GAAP gross margins reaching the mid-70% range during the second half versus 72% in the second quarter.
Profitability may have benefited from higher revenues and better ExtraCash monetization. However, management planned higher advertising and activation spending, alongside investments in product development and AI. These expenses were expected to moderate operating leverage during the third quarter, even as Dave sought to acquire customers efficiently and maintain healthy marketing returns.
Dave raised its full-year 2026 guidance to $725 million-$735 million in revenues, $315 million-$325 million in adjusted EBITDA and $17-$17.50 in adjusted earnings per share. While these are annual targets, not third-quarter forecasts, investors need to watch whether quarterly member growth, credit trends and margins support management's stronger outlook.
Q3 Projections for Dave
The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $191.15 million, indicating a 26.76% year-over-year increase. The consensus mark for service-based operating revenues is pegged at $179.74 million, up from $160.05 million in the prior quarter.
The company’s activities in the to-be-reported quarter were adequate to garner analysts’ confidence. The consensus mark for EPS has been revised two cents upward to $4.45 over the past 60 days. This also implies a year-over-year increase of 4.95%.
Here Is What Our Quantitative Model Predicts for DAVE
Our proven model does not conclusively predict an earnings beat for DAVE this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
DAVE currently carries a Zacks Rank of 2 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies — Hut 8 Corp. (HUT - Free Report) and StoneCo Ltd. (STNE - Free Report) — worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
View the Zacks #1 Rank List
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Dave Q3 Earnings Coming Up: What to Expect From the Stock?
Key Takeaways
Dave Inc. (DAVE - Free Report) is slated to release third-quarter 2026 results on Nov. 4, after market close. The company’s quarterly results are likely to display an increase in both revenues and earnings per share.
In the last reported quarter, Dave reported adjusted earnings of $4.12 per share, beating the Zacks Consensus Estimate by 11.65%. The metric increased 48% from $2.78 in the year-ago quarter. Operating revenues rose 30% year over year to $170.8 million, surpassing the Zacks Consensus Estimate by 0.6%. Growth was supported by higher Monthly Transacting Members, increased ExtraCash originations and continued ARPU expansion.
Over the trailing four quarters, the company’s EPS surpassed the Zacks Consensus Estimate on each occasion, with an average beat of 32.38%. This is depicted in the graph below:
Dave Inc. Price and EPS Surprise
Dave Inc. price-eps-surprise | Dave Inc. Quote
Key Factors to Watch Ahead of DAVE’s Q3 Results
Dave is likely to report another quarter of solid revenue growth, supported by rising member activity and demand for short-term cash advances. Management expected monthly transacting member growth to accelerate in the second half of 2026, as increased marketing spending helped attract and activate customers during the third quarter.
ExtraCash originations are likely to have benefited from CashAI v6.0, designed to support larger advances and improve conversion. Easing fee caps is expected to have strengthened revenue per transaction, while subscriptions and greater engagement among existing members may have supported monetization. However, an influx of newer members could have tempered average revenue per user.
Credit quality will be important. Management specifically expected third-quarter loss rates to remain near second-quarter levels despite larger advances. The Wednesday quarter-end was also expected to be favorable for loss provisions relative to originations, supporting gross margins. Management projected non-GAAP gross margins reaching the mid-70% range during the second half versus 72% in the second quarter.
Profitability may have benefited from higher revenues and better ExtraCash monetization. However, management planned higher advertising and activation spending, alongside investments in product development and AI. These expenses were expected to moderate operating leverage during the third quarter, even as Dave sought to acquire customers efficiently and maintain healthy marketing returns.
Dave raised its full-year 2026 guidance to $725 million-$735 million in revenues, $315 million-$325 million in adjusted EBITDA and $17-$17.50 in adjusted earnings per share. While these are annual targets, not third-quarter forecasts, investors need to watch whether quarterly member growth, credit trends and margins support management's stronger outlook.
Q3 Projections for Dave
The Zacks Consensus Estimate for third-quarter revenues is currently pegged at $191.15 million, indicating a 26.76% year-over-year increase. The consensus mark for service-based operating revenues is pegged at $179.74 million, up from $160.05 million in the prior quarter.
The company’s activities in the to-be-reported quarter were adequate to garner analysts’ confidence. The consensus mark for EPS has been revised two cents upward to $4.45 over the past 60 days. This also implies a year-over-year increase of 4.95%.
Here Is What Our Quantitative Model Predicts for DAVE
Our proven model does not conclusively predict an earnings beat for DAVE this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.
DAVE currently carries a Zacks Rank of 2 and has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies — Hut 8 Corp. (HUT - Free Report) and StoneCo Ltd. (STNE - Free Report) — worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Hut 8 currently has an Earnings ESP of +24.67% and a Zacks Rank #3. Hut 8 is scheduled to report third-quarter 2026 results on Nov. 4. You can see the complete list of today’s Zacks #1 Rank stocks here.
StoneCo currently has an Earnings ESP of +2.74% and a Zacks Rank #3. STNE is slated to report third-quarter 2026 results on Nov. 12.