Shares of Dave Inc (NASDAQ: DAVE) are skyrocketing in Thursday's pre-market session, surging by 29.83% following the release of the company's outstanding first-quarter 2025 financial results and an upward revision of its full-year guidance. The fintech company, known for its banking app, significantly outperformed analysts' expectations across key metrics, igniting investor enthusiasm.

Dave reported a net income of $28.8 million for Q1 2025, more than doubling the IBES estimate of $10.7 million. The company's adjusted EBITDA also showcased robust performance, coming in at $44.2 million, substantially surpassing the IBES estimate of $25.1 million. Quarterly revenue reached $108 million, beating the analyst consensus estimate of $100.80 million by 7.14%, representing a 46.74% increase from the same period last year. Earnings per share stood at an impressive $2.48, significantly outpacing the analyst estimate of $0.79 and marking a 300% increase from $0.62 in the year-ago quarter.

Adding to the positive sentiment, Dave Inc raised its 2025 revenue guidance to a range of $460-$475 million. This upward revision suggests strong confidence in the company's growth trajectory and operational performance for the remainder of the year. Jason Wilk, Founder and CEO of Dave, expressed enthusiasm about the results, stating, "We knocked the cover off the ball in Q1." The combination of better-than-expected Q1 results and the optimistic outlook for 2025 appears to be the primary driver behind the significant stock price surge, as investors rush to capitalize on Dave's strong momentum and growth prospects.