Filing Flows › Dave (DAVE) › Q1 2026
Dave (DAVE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Dave (DAVE) reported revenue of $158M for the first quarter 2026 (Q1 2026), +47% from a year earlier and -3% from the quarter before. Operating margin was 44.3%, net earnings $57.9M (36.6% of revenue).
Dave, Q1 2026: revenue $158M (+47% year over year), operating margin 44.3%, net earnings $57.9M, operating cash flow $82.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $158M | -3% | +47% |
| Operating profit | $70.2M | +9% | +107% |
| Net earnings | $57.9M | -12% | +101% |
| Operating cash flow | $82.0M | -12% | +81% |
| Free cash flow | $82.0M | -12% | +81% |
What changed
Revenue was $158.4M in Q1 2026, up 47% year over year and down 3% from the previous quarter. Processing and Overdraft Service Fees Net was the largest line at 84% of revenue. Processing and Overdraft Service Fees Net added $50.1M year over year (up 60%), 99% of the total change. Other declined 40%.
Operating profit was $70.2M, a 44.3% margin (up 12.9 points year over year). Of the extra revenue versus Q1 2025, 72% reached operating profit, above the 31% margin then. Total costs grew 19% against revenue growth of 47%. Net earnings were $57.9M, up 101% year over year. The effective tax rate was 17.4%.
Operating cash flow was $82.0M (up 81% year over year), 142% of net earnings. Non-cash charges added back $1.6M of depreciation and amortization and $7.1M of share-based compensation. Working capital and other items added $15.4M. Capital expenditures of $19K left free cash flow of $82.0M.
Questions
What was Dave's revenue in the first quarter 2026?
Dave (DAVE) reported revenue of $158M for the first quarter 2026 (Q1 2026), +47% from a year earlier and -3% from the quarter before.
Was Dave profitable in the first quarter 2026?
Operating profit was $70.2M (44.3% of revenue) and net earnings $57.9M.
Source: Dave 10-Q on SEC EDGAR.