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  "documentTitle": "Dave | Results Presentation Deck | 37 slides",
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  "authorName": "Dave",
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  "presentationDate": "2024-07-01 00:00:00",
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      "text": "Variable Margin (non-GAAP) 17% Year-Over-Year Growth 58% 54% 57% 63% 68% 1Q23 2Q23 3Q23 4Q23 1Q24",
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      "text": "Variable margin expanded ~1,000bps (17%) YoY due to:\nLower provision expense as % of GAAP revenue as a result of significant improvements in credit performance driven by CashAI\nProcessing cost enhancements related to how we utilize payment networks to move money\nFavorable renegotiation with key vendor in 4Q23",
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      "text": "Variable margin expanded ~500bps QoQ due to declines in provision expense as a % of GAAP revenue based on sequential improvements in credit performance and seasonal benefits from tax refund season. Other Variable Expenses as a % of GAAP revenue increased modestly QoQ driven by a seasonal increase of dispute volume largely related to tax refund deposits on the Dave Card.",
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      "text": "Note: Non-GAAP Variable Profit Margin calculation has been revised (in all periods shown above) to reflect Non-GAAP Variable Profit as a percentage of GAAP Operating Revenues, Net. In prior disclosures, Non-GAAP Variable Profit Margin reflected Non-GAAP Variable Profit as a percentage of Non-GAAP Operating Revenues. See Glossary for the definition of Non-GAAP Variable Profit. Note: See Appendix for reconciliation of Non-GAAP measures.",
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      "text": "Provision for Credit Losses - % of GAAP Revenue 20% 26% 24% 20% 14% Other Variable Expenses - % of GAAP Revenue 22% 20% 19% 18% 19%",
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