Dave Investor Presentation Deck
Reduced Adjusted
EBITDA losses
Adj. EBITDA loss improved 54% Y-o-Y driven by
revenue growth, variable margin expansion, and
marketing efficiencies. Excluding $4 million legal
settlement charge related to 2020 data breach, Adj.
EBITDA Loss would have improved by ~70%.
2Q23 Adj. EBITDA loss widened Q-o-Q due to:
Higher marketing related to ramping Member
acquisition; $1.4mm related to brand refresh and
creative assets which began airing in 3Q23
$4mm legal settlement charge
Higher provision expense related to greater
ExtraCash originations
We believe our existing team is sufficient to execute
our plan and deliver operating leverage as we scale.
$178mm of cash and securities as of 6/30/23 vs.
$196mm as of 3/31/23; reduction due largely to growth
in receivables funded with existing balance sheet cash.
Dave
Adjusted EBITDA (Non-GAAP) ($MM)
2Q22
($28.5)
3Q22
($28.5)
4Q22
Note: See Glossary for the definition of Adjusted EBITDA
Note: See Appendix for reconciliation of Non-GAAP measures.
($11.8)
1Q23
($4.5)
(54%) YoY reduction in EBITDA loss
2Q23
($13.1)
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