Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Dave Inc./DE files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
153
205
259
347
554
Selling and marketing
51.5
69
48.4
44.9
Operating expenses
200
339
301
312
368
Operating income
-6.38
Interest expense
2.55
9.2
11.8
7.99
7.04
Interest income
0.02
Other non-operating income
27
5.42
-6.2
25.7
-18.6
Pre-tax income
-19.9
-129
-48.4
60.4
168
Income tax
0.1
-0.07
0.12
2.48
-27.8
Net income
-20
-129
-48.5
57.9
196
EBITDA
-3.32
EPS, basic
-4.69
-11.12
-4.07
4.62
14.65
EPS, diluted
-4.69
-11.12
-4.07
4.19
13.53
Shares, basic (weighted)
4.27
11.6
11.9
12.5
13.4
Shares, diluted (weighted)
4.27
11.6
11.9
13.8
14.5
Balance sheet
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
32
22.9
41.8
49.7
80.5
Short-term investments
0
0.29
0.95
0.1
0
Other current assets
4.44
11.6
7.96
2.09
1.46
Total current assets
100
309
277
282
437
Property, plant and equipment
0.69
1.03
1.12
0.7
0.47
Lease right-of-use assets
2.7
0.74
0.77
0.51
0.2
Intangible assets
7.85
10.2
13.2
13.6
13.7
Long-term investments
0.13
0.08
0.32
0.16
0
Other non-current assets
0
0.14
0.4
0.38
0.36
Total assets
147
321
294
299
487
Accounts payable
13
11.4
5.49
6.77
8.36
Accrued liabilities
13
11
12.6
16.7
13
Deferred revenue
0.7
Total current liabilities
68.6
36.4
25.6
35.1
114
Long-term debt
35
75
75
75
0
Lease liabilities
0.97
0.55
0.54
0.2
0.14
Other non-current liabilities
0.12
0.12
0.13
3.03
4.48
Total liabilities
108
215
207
116
135
Total debt
35
75
75
75
0
Paid-in capital
86.8
270
297
335
353
Retained earnings
-32.9
-162
-210
-152
43.4
Treasury stock
-0.01
0
0
-43.7
Other comprehensive income
0
-1.68
0.65
0.22
0.37
Shareholders' equity
38.7
107
87.1
183
353
Total equity
38.7
107
87.1
183
353
Total liabilities and equity
147
321
294
299
487
Cash flow statement
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-20
-129
-48.5
57.9
196
Depreciation and amortization
3.06
7.13
5.54
7.68
7.13
Stock-based compensation
2.1
40.6
26.7
37.3
29.9
Deferred income tax
-0.06
0
0
0
-34.2
Change in payables
2.57
0.33
-5.94
1.28
1.59
Cash from operations
-0.54
-44.9
33.8
125
290
Capital expenditures
-0.37
-0.73
-0.69
-0.26
-0.32
Purchases of investments
-0.01
-202
-120
-111
-190
Sales and maturities of investments
9.44
326
33.7
60.1
0.1
Cash from investing
-37.2
-286
-14.4
-45.8
-203
Stock issued
249
0.62
0.03
1.27
0.76
Share buybacks
0
-0.54
0
0
-43.7
Cash from financing
65
322
0.02
-71
-56.3
Net change in cash
0.08
-8.7
19.4
8.3
31
Free cash flow
-0.91
-45.6
33.1
125
290
Interest paid
1.99
5.68
8.63
7.65
6.93
Income taxes paid
-0.59
0.11
5.58
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $324.88 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
32.2%
Pre-tax income / revenue.
Net margin
34.6%
Net income / revenue.
FCF margin
50.7%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
50.8%
Cash from operations / revenue.
Effective tax rate
-7.3%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
107.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
39.0%
Net income / average total assets.
Stock-based pay / revenue
5.8%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.1%
Capital expenditures / revenue.
D&A / revenue
1.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
59.7%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
39.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y
238.4%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
222.9%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
131.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
132.0%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
92.6%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
49.0%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
62.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
14.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
4.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
7.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
4.22x
Current assets / current liabilities.
Quick ratio
2.05x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.05x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
0.1%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$16.27
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$47.05
Revenue / diluted weighted shares.
FCF per share
$23.87
Free cash flow / diluted weighted shares.
Operating cash flow per share
$23.90
Cash from operations / diluted weighted shares.
Book value per share
$15.20
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Share buybacks / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$4.14B
Share price x shares outstanding.
Enterprise value
$3.89B
Market cap + total debt - cash - short-term investments.
P/E
18.6x
Market cap / net income. Only when net income is positive.
P/S
6.44x
Market cap / revenue.
P/B
19.9x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
21.4x
Market cap / tangible book value, when positive.
P/FCF
12.7x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
12.7x
Market cap / cash from operations, when positive.
EV/Sales
6.05x
Enterprise value / revenue.
EV/FCF
11.9x
Enterprise value / free cash flow, when both are positive.
FCF yield
7.9%
Free cash flow / market cap.
Earnings yield
5.4%
Net income / market cap (the inverse of P/E).
Shareholder yield
5.9%
(Dividends paid + share buybacks) / market cap.
What was Dave Inc./DE's revenue in fiscal 2025?
Dave Inc./DE reported revenue of $554.2M for fiscal 2025, 59.7% higher than the year before.
Was Dave Inc./DE profitable in fiscal 2025?
Yes. Net income was $195.9M, a net margin of 35.3%.
How much free cash flow did Dave Inc./DE generate in fiscal 2025?
Cash from operations of $290.0M minus capital expenditures of $317.0K left free cash flow of $289.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.