Dave Inc (DAVE) shares surged 15.92% in pre-market trading on Thursday following the release of its 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 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. While the exact revenue figure was not provided in comparison to estimates, Dave disclosed Q1 revenue of $10.1 million.
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. 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.
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