What is Dave, Inc.'s net debt?

Dave, Inc. (DAVE) reported net debt of -$132.9M in Q1 2026.

How has Dave, Inc.'s net debt changed year-over-year?

Dave, Inc.'s net debt decreased by 566.9% year-over-year, from $28.47M to -$132.9M.

What is the long-term trend for Dave, Inc.'s net debt?

Over 4 years (2021 to 2025), Dave, Inc.'s net debt has grown at a 20.2% compound annual growth rate (CAGR), from $38.51M to -$80.32M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Dave, Inc. DAVE Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$158.4M+46.7%

Operating income-$3.0M—

Net income$57.9M+101%

EPS (diluted)$4.02+104%

Balance sheet

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Cash & equivalents$133.3M+184%

Total debt$425.0K-99.4%

Total equity$203.8M+2.2%

Total assets$530.5M+68.1%

Cash flow

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Operating cash flow$82.0M+81.3%

CapEx$19.0K-48.6%

Free cash flow$82.0M+81.4%

Valuation

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Market cap$4B+113%

Enterprise value$3.86B+95.8%

P/E17.8×-18.0×

P/S6.6×+1.7×

Profitability

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Operating margin-4.2%—

Net margin37.2%+23.5pp

FCF margin54%+14.2pp

Returns & leverage

See full

Return on equity111.6%+79.5pp

Debt / equity0×-0.4×

Current ratio3.9×-4.7×

Where this comes from

Calculated from Dave, Inc.’s reported figures.

$425.0Ktotal debt−$133.3Mcash and equivalents=-$132.9M

The official record: Dave, Inc.’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Dave, Inc.'s net debt?: Dave, Inc. (DAVE) reported net debt of -$132.9M in Q1 2026.
How has Dave, Inc.'s net debt changed year-over-year?: Dave, Inc.'s net debt decreased by 566.9% year-over-year, from $28.47M to -$132.9M.
What is the long-term trend for Dave, Inc.'s net debt?: Over 4 years (2021 to 2025), Dave, Inc.'s net debt has grown at a 20.2% compound annual growth rate (CAGR), from $38.51M to -$80.32M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.