Latest news with #JasonWilk
Yahoo
31-05-2025
- Business
- Yahoo
Dave Inc. (DAVE): A Bull Case Theory
We came across a bullish thesis on Dave Inc. (DAVE) on Substack by Next 100 Baggers. In this article, we will summarize the bulls' thesis on DAVE. Dave Inc. (DAVE)'s share was trading at $193.70 as of 21st May. DAVE's trailing and forward P/E were 54.41 and 22.73 respectively according to Yahoo Finance. A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. Dave Inc. (DAVE), a neobank fintech, is carving out a significant niche by addressing the financial needs of over 100 million underserved Americans living paycheck-to-paycheck. Through its mobile app, Dave offers instant 'ExtraCash' advances up to $500, spending accounts, and side gig discovery tools. With 2.5 million monthly transacting members and over 10 million users historically, Dave operates in a large and underpenetrated market. The company's pivot to a revised fee model in late 2024 has improved monetization without hurting user retention, and revenue per user is climbing. Backed by strong unit economics, Dave's Q1 2025 saw 47% revenue growth YoY, a 77% variable profit margin, and improved operating leverage. CEO Jason Wilk and insiders, holding 21% of shares, remain aligned with shareholder interests and have demonstrated confidence through share repurchases. The company is now free cash flow positive with $90M in cash and manageable debt, supporting a $50M buyback program. While competition is fierce from banks and other neobanks, Dave's AI-driven underwriting (CashAI) has kept delinquency rates low, giving it an edge. Regulatory risks remain, particularly a DOJ lawsuit over past fee practices, but the company has made compliance-driven changes. Trading at 23x forward earnings and 5.8% FCF yield, Dave's valuation remains attractive given its 30%+ growth and rising profitability. With a favorable risk/reward skew, continued ARPU expansion, and new growth avenues such as larger loans or partnerships, the stock could see significant upside. Even if growth moderates, current execution suggests strong durability and long-term shareholder value creation. Dave Inc. (DAVE) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held DAVE at the end of the fourth quarter which was 17 in the previous quarter. While we acknowledge the risk and potential of DAVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than DAVE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Dave Inc. (DAVE): A Bull Case Theory
We came across a bullish thesis on Dave Inc. (DAVE) on Substack by Next 100 Baggers. In this article, we will summarize the bulls' thesis on DAVE. Dave Inc. (DAVE)'s share was trading at $193.70 as of 21st May. DAVE's trailing and forward P/E were 54.41 and 22.73 respectively according to Yahoo Finance. A close-up of a financial advisor giving advice to a customer, demonstrating the importance of consumer and wealth management. Dave Inc. (DAVE), a neobank fintech, is carving out a significant niche by addressing the financial needs of over 100 million underserved Americans living paycheck-to-paycheck. Through its mobile app, Dave offers instant 'ExtraCash' advances up to $500, spending accounts, and side gig discovery tools. With 2.5 million monthly transacting members and over 10 million users historically, Dave operates in a large and underpenetrated market. The company's pivot to a revised fee model in late 2024 has improved monetization without hurting user retention, and revenue per user is climbing. Backed by strong unit economics, Dave's Q1 2025 saw 47% revenue growth YoY, a 77% variable profit margin, and improved operating leverage. CEO Jason Wilk and insiders, holding 21% of shares, remain aligned with shareholder interests and have demonstrated confidence through share repurchases. The company is now free cash flow positive with $90M in cash and manageable debt, supporting a $50M buyback program. While competition is fierce from banks and other neobanks, Dave's AI-driven underwriting (CashAI) has kept delinquency rates low, giving it an edge. Regulatory risks remain, particularly a DOJ lawsuit over past fee practices, but the company has made compliance-driven changes. Trading at 23x forward earnings and 5.8% FCF yield, Dave's valuation remains attractive given its 30%+ growth and rising profitability. With a favorable risk/reward skew, continued ARPU expansion, and new growth avenues such as larger loans or partnerships, the stock could see significant upside. Even if growth moderates, current execution suggests strong durability and long-term shareholder value creation. Dave Inc. (DAVE) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held DAVE at the end of the fourth quarter which was 17 in the previous quarter. While we acknowledge the risk and potential of DAVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than DAVE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
16-04-2025
- Business
- Associated Press
Dave Donates $1 Million to Los Angeles Regional Food Bank to Support Community Recovery Efforts
Dave continues long-standing commitment to charitable giving, surpassing $21 million in lifetime contributions. LOS ANGELES, April 16, 2025 /PRNewswire/ -- Dave Inc. ('Dave' or the 'Company') (Nasdaq: DAVE), one of the nation's leading neobanks, today announced a $1 million donation to the Los Angeles Regional Food Bank to support community recovery efforts following the recent natural disasters which affected the greater Los Angeles area. This donation was made pursuant to Dave's long-standing partnership with Feeding America®, through which the Company has contributed more than $21 million over the past five years to help address food insecurity nationwide. These contributions were member-funded through the Company's optional tipping experience which has been sunsetted as of February 19, 2025. Despite this change, the Company remains committed to giving back to charitable causes. 'Dave was founded in Los Angeles and we are honored to be able to help families facing hunger so close to home. Giving back has been in the Company's DNA since inception and we are committed to supporting causes aligned to our mission,' said Jason Wilk, Founder and CEO of Dave. 'We are deeply grateful for this extraordinary support from Dave,' said Michael Flood, President and CEO, Los Angeles Regional Food Bank. 'In the wake of recent natural disasters, this $1 million donation will provide critical nourishment to our neighbors who need it most.' About Dave Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. For more information about the company, visit: For investor information and updates, visit: and follow @ davebanking on X. About the Los Angeles Regional Food Bank The Los Angeles Regional Food Bank (the 'Food Bank') has been mobilizing resources to fight hunger in Los Angeles County for over 50 years. To support the Food Bank's vision that no one goes hungry in Los Angeles County, food and grocery products are distributed through a network of partner agencies and other Food Bank programs. The Food Bank also energizes the community to get involved and support hunger relief, especially through volunteerism, and conducts nutrition education campaigns and advocates for public policies that benefit people served and improve nutrition security. The Food Bank is rated at the highest level by Candid and Charity Navigator, and 96% of all revenue goes to programs. For more information, visit About Feeding America Feeding America is committed to an America where no one is hungry. Feeding America supports tens of millions of people who experience food insecurity to get the food and resources they say they need to thrive as part of a nationwide network of food banks, statewide food bank associations, food pantries and meal programs. Feeding America also invests in innovative solutions to increase equitable access to nutritious food, advocate for legislation that improves food security and work to address factors that impact food security, such as health, cost of living, and employment. Feeding America partners with people experiencing food insecurity, policymakers, organizations, and supporters, united with them in a movement to end hunger. Visit to learn more. Forward-Looking Statements This press release includes forward-looking statements, which are subject to the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as 'feels,' 'believes,' 'expects,' 'estimates,' 'projects,' 'intends,' 'remains,' 'committed,' 'should,' 'will,' 'is to be,' or the negative of such terms, or other comparable terminology and include, among other things, statements relating to Dave's future charitable giving, and any other statements about future events. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: the ability of Dave to compete in its highly competitive industry; the ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry; the ability of Dave to manage risks associated with providing ExtraCash; the ability of Dave to retain its current Members, acquire new Members and sell additional functionality and services to its Members; the ability of Dave to protect intellectual property and trade secrets; the ability of Dave to maintain the integrity of its confidential information and information systems or comply with applicable privacy and data security requirements and regulations; the reliance by Dave on a single bank partner; the ability of Dave to maintain or secure current and future key banking relationships and other third-party service providers, including its ability to comply with applicable requirements of such third parties; the ability of Dave to comply with extensive and evolving laws and regulations applicable to its business; changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business; the ability to attract or maintain a qualified workforce; the level of product service failures that could lead Members to use competitors' services; investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings, including the Department of Justice's lawsuit against Dave; the ability to maintain the listing of Dave Class A Common Stock on The Nasdaq Stock Market; the possibility that Dave may be adversely affected by other economic factors, including fluctuating interest rates, and business, and/or competitive factors; and other risks and uncertainties discussed in Dave's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the 'SEC') on March 4, 2025 and subsequent Quarterly Reports on Form 10-Q under the heading 'Risk Factors,' filed with the SEC and other reports and documents Dave files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Dave undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. Investor Relations Contact Sean Mansouri, CFA Elevate IR [email protected] Media Contact Dan Ury [email protected] View original content: SOURCE Dave Inc.
Associated Press
21-03-2025
- Business
- Associated Press
Bragar Eagel & Squire, P.C. Is Investigating Dave, Red Cat, Perpetua, and Voyager and Encourages Investors to Contact the Firm
NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Dave, Inc. (NASDAQ: DAVE), Red Cat Holdings, Inc. (NASDAQ: RCAT), Perpetua Resources Corp. (NASDAQ:PPTA), and Voyager Therapeutics, Inc. (NASDAQ:VYGR). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided. Dave, Inc. (NASDAQ: DAVE) On December 30, 2024, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and the Restore Online Shoppers' Confidence Act (ROSCA). The government's lawsuit alleges that the defendants misled consumers by deceptively advertising Dave's cash advances, charging hidden fees, misrepresenting how Dave uses customers' tips and charging recurring monthly fees without providing a simple mechanism to cancel them. On this news, Dave shares opened at $84.00 on December 31, 2024, representing a drop of over 10% from the day before. For more information on the Dave investigation go to: Red Cat Holdings, Inc. (NASDAQ: RCAT) On January 16, 2025, Kerrisdale Capital ('Kerrisdale') published a report alleging that Red Cat has overstated the revenue potential of its U.S. Army Short Range Reconnaissance ('SRR') drone contract and lacks the production capacity to deliver on its promises. The Kerrisdale report also raises concerns about the timing of executive departures and insider transactions that took place shortly after the announcement of the SRR contract. On this news, Red Cat's stock price fell $2.36 per share, or 21.63%, over the following two trading sessions, to close at $8.55 per share on January 17, 2025. Perpetua Resources Corp. (NASDAQ:PPTA) The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Perpetua files a current report on form 8-K with the SEC on February 13, 2025. The Company disclosed that it 'released an updated cash flow model for the Stibnite Gold Project (the 'Project'), which is based, in part, on basic engineering work completed by Ausenco Engineering USA South Inc. ('Ausenco') in January 2025 (the 'Financial Update').' The Company added that the 'Financial Update also applies fourth quarter 2024 cost estimates for construction and operations, consistent with the Basic Engineering analysis, as well as current and consensus commodity pricing for sales. While the Financial Model reflects an increase in initial and total capital expenditures and LOM AISC compared to the base model included in the 2020 Feasibility Study, the corresponding increase in commodity prices resulted in overall improvements to key economic metrics of Annual Average EBITDA and Annual Average Free Cash Flow while maintaining a similar after-tax NPV 5% at consensus pricing.' Based on this news, shares of Perpetua fell by 22.3% on February 14, 2025. For more information on the Perpetua investigation go to: Voyager Therapeutics, Inc. (NASDAQ:VYGR) On February 11, 2025, Voyager issued a press release 'announc[ing] it has decided to assess alternate payloads related to its gene therapy program for superoxide dismutase 1 (SOD1) amyotrophic lateral sclerosis (ALS)', stating that "[e]merging preclinical data indicate the siRNA payload component of VY9323 does not meet our high standards due to what appears to be an off-target effect resulting in a narrowed therapeutic window.' Voyager further stated that it 'no longer anticipates filing an investigational new drug (IND) application for VY9323 in mid-2025.' On this new, Voyager's stock price fell $1.11 per share, or 20.86%, to close at $4.21 per share on February 11, 2025. For more information on the Voyager investigation go to: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit Attorney advertising. Prior results do not guarantee similar outcomes. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq.
Yahoo
07-03-2025
- Business
- Yahoo
Dave, Coastal Community Bank team up in pivot away from Evolve
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. Neobank Dave has lined up Coastal Community Bank as a partner financial institution, and customer onboarding to that bank will begin as early as the second quarter, the companies said Monday. The Los Angeles-based fintech's partnership with Coastal Community Bank and CCBX, the lender's banking-as-a-service unit, will fuel Dave's business growth and expansion while offering competitive products in the market, the fintech said. 'This partnership marks a milestone moment for Dave,' Jason Wilk, the fintech's CEO and founder, said in a statement. 'Coastal Community Bank is the right partner for our company because of their customer-first mission, deep knowledge across credit and banking products, strong risk management, and our shared ambition to make a difference in the communities that need it most.' The partnership marks a pivot away from Evolve Bank & Trust. That bank has been the fintech's only bank partner for its ExtraCash and other deposit accounts, debit card services and other transaction services, Dave said Tuesday in its annual filing with the Securities and Exchange Commission. The fintech eventually plans to drop Evolve as its partner bank, Bloomberg reported. Dave underscored some risks when relying on one bank partner, including difficulties transitioning between bank partners that involve operational errors, data breaches and service disruptions; potential business differences with new partners and challenges operating with multiple bank partners during transitions. 'We currently rely on a single bank partner, and if our present or any future key banking relationships are terminated and we are not able to secure or successfully migrate client portfolios to a new bank partner or partners, or our bank partner becomes subject to regulatory restrictions or other operational disruptions, our business would be adversely affected,' Dave noted in the filing. The fintech also highlighted challenges Evolve has been grappling with for some time. The Federal Reserve issued an enforcement action against the lender last June, citing shortcomings in anti-money laundering, risk management and consumer compliance. The central bank alleged Evolve 'fail[ed] to have in place an effective risk management framework' for its fintech partnerships. Evolve was the partner bank of the bankrupt middleware firm Synapse. Though the Fed said Synapse's bankruptcy had nothing to do with the enforcement action issued against Evolve, Dave said Synapse's bankruptcy 'affected the ability of customers of financial technology companies that used Synapse as a service provider to access funds placed at Synapse's partner banks, including Evolve, for a number of months.' To add to Evolve's woes, the lender faced a data breach in which customer information was released to the dark web, two weeks after the Fed enforcement action. Dave, for its part, has had its share of challenges, as well. The Federal Trade Commission sued the fintech in November, alleging it misled consumers about its cash advance application. The FTC further alleged Dave charged consumers who needed financial assistance with undisclosed fees and 'tips' without their consent. Wilk said at the time that the lawsuit followed months of 'good-faith negotiations' and was 'another example of regulatory overreach by the FTC.' However, the FTC referred the case to the Justice Department, which filed an amended complaint against the firm and Wilk in December. Dave slammed the DOJ for its amended complaint and noted that it updated its mandatory fee structure to eliminate optional tips and express fees for the company's ExtraCash product. In its annual filing, the firm said its optimal fee revenue model, including tips and instant transfer fees for its ExtraCash product, was completed last month. The optional fee model was replaced with a 'simplified' 5% overdraft service fee structure including a minimum fee of $5 and a maximum of $15, starting with new customers in December 2024; existing customers were transitioned to that structure as of Feb. 19, according to the filing. Dave did not immediately respond to questions regarding its recent partnership. In November, Wilk hinted at diversifying Dave's key commercial relationships given the scale it's reached and the continued membership growth it's experienced. 'From our first discussions with their team, it was clear that we are aligned in bringing accessible, transparent financial services to traditionally underbanked populations,' Brian Hamilton, president of CCBX, said in a statement Monday. Recommended Reading Green Dot CHRO eyes 'engagement,' tech hires amid BaaS buildout Sign in to access your portfolio
