Dave Investor Presentation Deck
Strong growth while
improving CAC
Product enhancements and channel optimization
supported the Company's highly efficient CAC.
CAC improved 31% Y-o-Y: we acquired 5% more
Members for 28% less marketing spend. Excluding
$1.4mm of spend related to brand refresh and
TV/radio creative assets which began airing in 3Q23,
CAC improved 38%.
Excluding $1.4mm of marketing spend outlined
above, CAC in 2Q23 would have been $18 or 15%
higher than 1Q23 as we ramped acquisition by 26%.
We expect marketing spend in 2H23 to remain at
comparable levels to 1H23, albeit modestly
front-end loaded. We sequence marketing spend to
capitalize on favorable seasonal trends in order to
optimize returns on investment.
Dave
Customer Acquisition Cost
CAC and New Member Acquisition (000s)
$100
$90
$80
$70
$60
$50
$40
$30
$20
$10
$0
703
$30
2Q22
998
$24
715
Note: See Glossary for the definition of Customer Acquisition Costs
$17
5% Y-o-Y Growth
4Q22
3Q22
New Member Acquisition (000)
587
$16
1Q23
739
(31%) Y-o-Y
Improvement
ā CAC
$20
2Q23
1,200
1,000
800
600
400
200
O
15
New Member Acquisition (000s)View entire presentation