Dave Inc. reported strong Q3 2025 results with Total Operating Revenues reaching \(150.7M (up 63% YoY) and swinging to GAAP Net Income of \)92.1M, resulting in Diluted EPS of \(6.34. The 9-month Net Income was \)129.9M. This profitability led to the release of a $27.4M valuation allowance on deferred tax assets in Q3.
Business & Revenue Changes: The company discontinued optional tips in February 2025, causing Processing/Overdraft Fees to surge 120% to $129.2M (Q3), while Tip revenue dropped to zero. The company operates as a single reportable segment, with management using consolidated net in
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