Dave SPAC Presentation Deck slide image

Dave SPAC Presentation Deck

Dave Financial Summary and Projections Profit & Loss Highlight ($mm) Total Revenue % Growth 1 Gross Profit¹ % Margin Operating Expenses (ex. Marketing) EBITDA pre-Marketing % Margin Marketing Spend EBITDA % Margin Dave 2018A $17 $8 45% 4 $4 20% 5 ($2) (11%) 2019A $76 340% $43 56% 13 $29 38% 23 $6 8% 2020P $122 60% $75 62% 29 $46 38% 38 $8 7% 2021E $193 59% $111 57% 58 $52 27% 61 ($9) (5%) 2022E $377 95% $223 59% 87 $137 36% 124 $12 3% 2023E $533 41% $329 62% 113 $216 40% 187 $29 5% Source: Dave Management. Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. Additionally, all information in Dave's financial statements for the years ended December 31, 2018 and 2019 are audited, but not to PCAOB standards. ¹ Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. 31
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