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# Dave Lifts 2026 Revenue Outlook To $746 Million-$750 Million As Third-Quarter Sales Climb 31%
- URL: https://www.bullished.co/dave-lifts-2026-revenue-outlook-to-746-million-750-million-as-third-quarter-sales-climb-31-5bd611cb/
- Published: 2026-11-04T22:15:56.000Z
- Updated: 2026-11-04T22:15:56.000Z
- Description: The neobank's net income fell 31% in the quarter, though adjusted EBITDA rose 39% to $82 million.
- Author: Matteo Parrino
- Tags: Earnings, DAVE, Industry: Financials

[Dave](https://www.bullished.co/tag/dave/), the mobile banking app that offers short-term credit and fee-free checking, raised its full-year 2026 forecast on Wednesday after [third-quarter revenue rose 31% to $198 million](https://www.sec.gov/Archives/edgar/data/0001841408/000119312526447333/dave-ex99%5F1.htm?ref=bullished.co), even as net income fell 31% to $64 million.

## A higher bar for 2026

The company now targets revenue of $746 million to $750 million, up from $725 million to $735 million. That works out to 35% growth, against a prior range of 31% to 33%.

Adjusted EBITDA guidance moved to $327 million to $330 million from $315 million to $325 million. Adjusted diluted earnings per share guidance rose to $17.45 to $17.65 from $17.00 to $17.50.

CEO Jason Wilk said the company is raising the outlook "based on this momentum," crediting faster growth in monthly transacting members and higher revenue per user.

## Sales up, profit mixed

Dave's release headlines the quarter as one of "Record New Member Acquisition." New members rose 35% to [1,135,000](https://www.prnewswire.com/news-releases/dave-reports-third-quarter-2026-financial-results-302929802.html?ref=bullished.co) at a customer acquisition cost of $22, and monthly transacting members rose 18% to 3.15 million.

Adjusted EBITDA rose 39% to [$82 million](https://www.prnewswire.com/news-releases/dave-reports-third-quarter-2026-financial-results-302929802.html?ref=bullished.co), a 41% margin. Adjusted net income fell 7% to $60 million, and GAAP net income dropped 31% from $92 million a year earlier, when the company booked a large tax benefit.

CFO Kyle Beilman said Dave raised marketing investment by more than 50% and still grew adjusted EBITDA. Non-GAAP gross margin was 70%, up from 69% a year ago but down from 72% last quarter. Beilman said Coastal funding costs explained about 100 basis points of that sequential drop.

## Credit quality and the ExtraCash engine

ExtraCash, Dave's advance of up to $500 with no interest or credit checks, saw originations grow 23% to $2.5 billion. The 28-day past due rate improved to 2.09% from 2.15% a year earlier, and the company said it fell below 2.00% in September. The net monetization rate rose to 5.2%, which Dave called its highest in five years.

Beilman said he expects the fourth-quarter 28-day past due rate to be below 2.00%. Wilk said Dave Flex, its new Pay in Four credit card, grew from single- to double-digit thousand actives, with a broader rollout planned for 2027.

## Funding and cash

Dave ended September with $315 million in cash, investments and restricted cash, up from $254 million at June 30\. In early October it repaid the $75 million outstanding on its Victory Park debt facility.

In an [8-K](https://www.sec.gov/Archives/edgar/data/0001841408/000119312526447333/dave-20261104.htm?ref=bullished.co), Dave said an amendment signed November 3 with Coastal Community Bank raises the ExtraCash receivables Coastal can carry to as much as $325 million, plus up to $25 million of credit card receivables. Dave spent about $20 million on share reductions in the quarter and has $88 million left on its buyback authorization.

Management said it will discuss the results on a conference call at 4:30 p.m. Eastern on Wednesday.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Dave Inc./DE (DAVE)](https://www.sec.gov/Archives/edgar/data/0001841408/000119312526447333/dave-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit dave-ex99\_1.htm — Dave Inc./DE 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001841408/000119312526447333/dave-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Dave Reports Third Quarter 2026 Financial Results](https://www.prnewswire.com/news-releases/dave-reports-third-quarter-2026-financial-results-302929802.html?ref=bullished.co) — prnewswire.com

### More on Dave

- [Dave Stock Surges 7%, Adding $274 Million, After Coastal Bank Lifts Receivables Cap](https://www.bullished.co/dave-stock-surges-7-adding-274-million-after-coastal-bank-lifts-receivables-cap-4f9dd74e/)

[All Dave (DAVE) coverage →](https://www.bullished.co/tag/dave/)