Dave Inc. Announces $50 Million Share Repurchase Authorization
Dave Inc. (NASDAQ: DAVE) has announced a significant $50 million share repurchase program for its outstanding Class A common stock. The program, approved by the Board of Directors, has no fixed expiration date and will be implemented based on market conditions and strategic considerations.
The company's CFO, Kyle Beilman, emphasized that this initiative reflects confidence in Dave's financial strength, growth potential, and free cash flow generation capabilities. The repurchases will be executed through various methods, including open market and privately negotiated transactions, complying with Rule 10b-18 of the Securities Exchange Act of 1934.
Management will determine the timing, manner, and amount of repurchases based on market conditions, stock price, and business performance. The program can be suspended, modified, or terminated at the company's discretion.
Dave Inc. (NASDAQ: DAVE) ha annunciato un significativo programma di riacquisto di azioni da 50 milioni di dollari per le sue azioni ordinarie di Classe A in circolazione. Il programma, approvato dal Consiglio di Amministrazione, non ha una data di scadenza fissa e sarà attuato in base alle condizioni di mercato e alle considerazioni strategiche.
Il CFO dell'azienda, Kyle Beilman, ha sottolineato che questa iniziativa riflette la fiducia nella forza finanziaria di Dave, nel potenziale di crescita e nelle capacità di generazione di flusso di cassa libero. I riacquisti saranno eseguiti attraverso vari metodi, inclusi transazioni sul mercato aperto e negoziazioni private, in conformità con la Regola 10b-18 del Securities Exchange Act del 1934.
La direzione determinerà il momento, il modo e l'importo dei riacquisti in base alle condizioni di mercato, al prezzo delle azioni e alle performance aziendali. Il programma può essere sospeso, modificato o terminato a discrezione dell'azienda.
Dave Inc. (NASDAQ: DAVE) ha anunciado un significativo programa de recompra de acciones de 50 millones de dólares para sus acciones ordinarias Clase A en circulación. El programa, aprobado por la Junta Directiva, no tiene una fecha de vencimiento fija y se implementará según las condiciones del mercado y consideraciones estratégicas.
El CFO de la compañía, Kyle Beilman, enfatizó que esta iniciativa refleja confianza en la fortaleza financiera de Dave, su potencial de crecimiento y sus capacidades de generación de flujo de caja libre. Las recompras se llevarán a cabo a través de varios métodos, incluyendo transacciones en el mercado abierto y negociaciones privadas, cumpliendo con la Regla 10b-18 de la Ley de Valores de 1934.
La dirección determinará el momento, la forma y la cantidad de las recompras según las condiciones del mercado, el precio de las acciones y el desempeño empresarial. El programa puede ser suspendido, modificado o terminado a discreción de la empresa.
데이브 주식회사 (NASDAQ: DAVE)는 자사의 발행된 A 클래스 보통주에 대해 5천만 달러 규모의 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 이사회의 승인을 받았으며, 고정 만료일이 없고 시장 상황 및 전략적 고려에 따라 시행될 예정입니다.
회사의 CFO인 카일 베일먼은 이 이니셔티브가 데이브의 재무 건전성, 성장 잠재력 및 자유 현금 흐름 생성 능력에 대한 신뢰를 반영한다고 강조했습니다. 매입은 공개 시장 및 사적으로 협상된 거래를 포함한 다양한 방법을 통해 실행되며, 1934년 증권 거래법 제10b-18조를 준수합니다.
경영진은 시장 상황, 주가 및 사업 성과에 따라 매입의 시기, 방식 및 금액을 결정합니다. 이 프로그램은 회사의 재량에 따라 중단, 수정 또는 종료될 수 있습니다.
Dave Inc. (NASDAQ: DAVE) a annoncé un programme de rachat d'actions de 50 millions de dollars pour ses actions ordinaires de Classe A en circulation. Le programme, approuvé par le Conseil d'Administration, n'a pas de date d'expiration fixe et sera mis en œuvre en fonction des conditions du marché et des considérations stratégiques.
Le CFO de l'entreprise, Kyle Beilman, a souligné que cette initiative reflète la confiance dans la solidité financière de Dave, son potentiel de croissance et sa capacité à générer des flux de trésorerie disponibles. Les rachats seront effectués par divers moyens, y compris le marché ouvert et des transactions négociées en privé, conformément à la règle 10b-18 de la Loi sur les valeurs mobilières de 1934.
La direction déterminera le moment, la manière et le montant des rachats en fonction des conditions du marché, du prix des actions et des performances de l'entreprise. Le programme peut être suspendu, modifié ou résilié à la discrétion de l'entreprise.
Dave Inc. (NASDAQ: DAVE) hat ein bedeutendes Aktienrückkaufprogramm in Höhe von 50 Millionen Dollar für seine ausgegebenen Klasse-A-Stammaktien angekündigt. Das Programm, das vom Vorstand genehmigt wurde, hat kein festes Ablaufdatum und wird je nach Marktbedingungen und strategischen Überlegungen umgesetzt.
Der CFO des Unternehmens, Kyle Beilman, betonte, dass diese Initiative Vertrauen in die finanzielle Stärke von Dave, das Wachstumspotenzial und die Fähigkeit zur Generierung von freiem Cashflow widerspiegelt. Die Rückkäufe werden durch verschiedene Methoden durchgeführt, einschließlich des offenen Marktes und privat ausgehandelter Transaktionen, gemäß der Regel 10b-18 des Securities Exchange Act von 1934.
Das Management wird den Zeitpunkt, die Art und die Menge der Rückkäufe basierend auf den Marktbedingungen, dem Aktienkurs und der Unternehmensleistung bestimmen. Das Programm kann nach Ermessen des Unternehmens ausgesetzt, geändert oder beendet werden.
- Authorization of $50 million share repurchase program indicates strong financial position
- Company demonstrates ability to generate free cash flow
- Program expected to enhance shareholder value
- Management expresses confidence in long-term growth potential
- Capital allocated to buybacks reduces funds available for business growth
- No guaranteed minimum number of shares to be repurchased
- Program can be suspended or terminated at any time
Los Angeles, March 10, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (NASDAQ: DAVE), one of the nation’s leading neobanks, today announced that its Board of Directors has authorized a share repurchase program to buy back up to
Kyle Beilman, Dave’s Chief Financial Officer, commented: "Our Board’s approval of this share repurchase program reflects our confidence in Dave’s financial strength, long-term growth potential, and ability to generate free cash flow. We believe share repurchases are an effective capital allocation tool, providing a compelling opportunity to enhance shareholder value. Given our current valuation, liquidity position, and optimistic outlook for cash generation, we believe this is an opportune time to implement this program.”
Under the authorization, the Company may repurchase shares through a variety of methods, including open market transactions and privately negotiated transactions, in compliance with Rule 10b-18 of the Securities Exchange Act of 1934 and other applicable laws and regulations. The timing, manner, and total amount of repurchases will be determined by management based on market conditions, stock price, business performance, and alternative investment opportunities.
The repurchase program does not obligate Dave to acquire any specific number of shares, and it may be suspended, modified, or terminated at any time at the Company’s discretion.
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: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.
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,” “anticipates,” “estimates,” “projects,” “intends,” “remains,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, the expected impact and timing of share repurchases, quotations of our Chief Financial Officer relating to Dave’s future performance, growth and free cash flow, and 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.
Attachment
Investor Relations Contact Sean Mansouri, CFA Elevate IR DAVE@elevate-ir.com Media Contact Dan Ury press@dave.com
FAQ
What is the size of Dave Inc.'s (DAVE) new share repurchase program?
When will Dave Inc. (DAVE) begin its share buyback program?
What methods will Dave Inc. (DAVE) use for the share repurchases?
Does Dave's (DAVE) share repurchase program have an expiration date?
