Dave (DAVE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Dave (DAVE) Q3 2026 earnings results →

Q3 2026 Revenue up 31% year over year to $198M · 32¢ of every $1 of revenue kept as net profit · operating margin 37.7%

Dave made $198M in Q3 2026 (+31% Y/Y): Service Based Revenue $186M, Interchange Revenue Net $6.4M, Transaction Based Revenue Other Net $4.3M. Operating margin 37.7%, net earnings $63.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$198M

Year over year+31%

Operating margin37.7%

Net earnings$63.8M

Operating cash flow$81.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $197.7M in Q3 2026, up 31% year over year and up 16% from the previous quarter. Processing and Overdraft Service Fees Net was the largest line at 85% of revenue. Processing and Overdraft Service Fees Net added $39.8M year over year (up 31%), 85% of the total change. Transaction Based Revenue Other Net declined 7%.

Operating profit was $74.5M, a 37.7% margin (down 1.1 points year over year). Of the extra revenue versus Q3 2025, 34% reached operating profit, below the 39% margin then. Total costs grew 33% against revenue growth of 31%. Net earnings were $63.8M, down 31% year over year. The effective tax rate was 14.4%.

Operating cash flow was $81.4M (down 2% year over year), 128% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $22.0M of share-based compensation. Working capital and other items used $6.1M. Capital expenditures of −$44K left free cash flow of $81.4M.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Nov 4, 2026	$198M	+31%	37.7%	$63.8M	$81.4M
Q2 2026	10-Q	Aug 5, 2026	$171M	+30%	8.6%	$6.7M	$68.4M
Q1 2026	10-Q	May 5, 2026	$158M	+47%	44.3%	$57.9M	$82.0M
Q4 2025	10-K	Mar 2, 2026	$164M	+62%	39.2%	$65.9M	$93.3M
Q3 2025	10-Q	Nov 4, 2025	$151M	+63%	38.8%	$92.1M	$83.2M
Q2 2025	10-Q	Aug 6, 2025	$132M	+64%	8.7%	$9.0M	$68.2M
Q1 2025	10-Q	May 8, 2025	$108M	+47%	31.4%	$28.8M	$45.2M

Charts

Latest (Q3 2026): Y/Y +31%, Q/Q +16%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $63.8M, Operating cash flow $81.4M.

+13.1% since FY2021: more shares outstanding (issuance, stock pay); earlier years scaled for the 3-for-1 split before FY2022.

Finance Services; dot size is quarterly revenue; dashed lines are the industry's medians.