Shares of Dave Inc (NASDAQ:DAVE) are soaring 29.83% in pre-market trading on Thursday, following the release of the company's impressive 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, igniting investor enthusiasm.
Dave reported quarterly earnings of $2.48 per share, dramatically beating the analyst consensus estimate of $0.79 by 213.92%. This represents a 300% increase over earnings of $0.62 per share from the same period last year. The company's Q1 revenue came in at $108.00 million, surpassing the analyst consensus estimate of $100.80 million by 7.14% and marking a 46.74% increase over sales of $73.60 million in the same period last year.
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. CEO Jason Wilk expressed his enthusiasm, 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 pre-market stock price surge, as investors rush to capitalize on Dave's strong performance and promising future.
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