Filing Flows › Dave (DAVE) › Q2 2025
Dave (DAVE) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Dave (DAVE) reported revenue of $132M for the second quarter 2025 (Q2 2025), +64% from a year earlier and +22% from the quarter before. Operating margin was 8.7%, net earnings $9.0M (6.9% of revenue).
Dave, Q2 2025: revenue $132M (+64% year over year), operating margin 8.7%, net earnings $9.0M, operating cash flow $68.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $132M | +22% | +64% |
| Operating profit | $11.5M | -66% | +151% |
| Net earnings | $9.0M | -69% | +42% |
| Operating cash flow | $68.2M | +51% | +143% |
| Free cash flow | $68.1M | +51% | +144% |
What changed
Revenue was $131.8M in Q2 2025, up 64% year over year and up 22% from the previous quarter. Processing and Service Fees Net was the largest line at 86% of revenue. Processing and Service Fees Net added $63.9M year over year (up 129%), 124% of the total change. Other declined 41%.
Operating profit was $11.5M, a 8.7% margin (up 3.0 points year over year). Of the extra revenue versus a year earlier, 13% reached operating profit, above the 6% margin then. Total costs grew 59% against revenue growth of 64%. Net earnings were $9.0M, up 42% year over year. The effective tax rate was 21.4%.
Operating cash flow was $68.2M (up 143% year over year), 755% of net earnings. Non-cash charges added back $1.6M of depreciation and amortization and $8.3M of share-based compensation. Working capital and other items added $49.3M. Capital expenditures of $127K left free cash flow of $68.1M.
Questions
What was Dave's revenue in the second quarter 2025?
Dave (DAVE) reported revenue of $132M for the second quarter 2025 (Q2 2025), +64% from a year earlier and +22% from the quarter before.
Was Dave profitable in the second quarter 2025?
Operating profit was $11.5M (8.7% of revenue) and net earnings $9.0M.
Source: Dave 10-Q on SEC EDGAR.