Dave Inc-A 2025年季度报告

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT FINANCIAL INFORMATIONFinancial Statements (Unaudited) Unregistered Sales of Equity Securities and Use of Proceeds ExhibitsSignatures projections about future events and trends that we believe may affect our financial condition, results of operations, businessstrategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the section titled “Risk Factors” set forthin Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities andExchange Commission (the “SEC”) on March 4, 2025 (the “Annual Report”) and Part II, Item 1A "Risk Factors" in this Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-lookingstatements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this Form10-Q may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward-looking statements contained in this Form 10-Q involve a number of judgments, risks anduncertainties, including, without limitation, risks related 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 financialservices industry;•the ability of Dave to manage risks associated with providing ExtraCash;•the ability of Dave to retain its current customers, acquire new customers (collectively, "Members") and sell additional 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; 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, includingthe Department of Justice’s lawsuit against Dave; •the ability to maintain the listing of Dave Class A Common Stock on The Nasdaq Stock Market; and •the possibility that Dave may be adversely affected by other macroeconomic factors, including regulatory uncertainty,fluctuating interest rates, inflation, tariffs, unemployment rates, consumer sentiment, market volatility and business, and/or competitive factors. We caution you that the foregoing list of judgments, risks and uncertainties that may cause actual results to differ materially fromthose in the forward-looking statements may not be complete. You should not rely upon forward-looking statements as predictions we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, statements after the date of this report or to conform these statements to actual results or revised expectations. You should read this report with the understanding that our actual future results, levels of activity, performance and events andcircumstances may be materially different from what we expect. This report contains estimates, projections and other information concerning our industry, our business and the markets for ourproducts. We obtained the industry, market and similar data set forth in this report from our own internal estimates and researchand from industry research, publications, surveys and studies conducted by third parties, including governmental agencies. 2See accompanying notes to the condensed consolidated financial statements. Dave ("the Company") was launched in 2017 to provide a faster, more transparent, and lower-cost alternative to traditional Through its fully integrated, mobile-first platform, the Company delivers innovative financial products designed to helpunderserved consumers manage their money more effectively. The Company's mission is to level the financial playing field by providing intuitive, transparent, and accessible solutions that empower its Members to navigate life’s financial challenges withconfidence. ExtraCash is an overdraft product offered through the Company's bank partner that provides Members with up to $500of credit tobridge liquidity gaps between paychecks. Using its proprietary AI-powered underwriting system, CashAI, the Company analyzes aMember’s checking account transaction data to determine eligibility and set the credit amount. This fully automated processrequires no credit check and does not rely on FICO or credit bureau data. Once an ExtraCash transaction is initi