Management does not consider these non-GAAP measures in There can be no assurance that the Combined Companys common stock will be approved for listing on the NYSE or Nasdaq or that the Combined Company will be able to comply with the continued listing standards of the NYSE or Source: Dave Management. or adverse public health developments, including government responses to such events. 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Going forward, unique users represents combination of connected bank The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. sponsor, directors and officers have agreed to vote in favor of the Proposed Business Combination, regardless of how VPCCs public stockholders vote.
SEC Filings | Dave Inc. The cost of responding to investigations can be substantial and an adverse resolution to an investigation, including a settlement or consent order, may have a material adverse effect on our business, financial position, and results of operations us Proposed Business Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination.
Dave, a Leading Banking App with 10 Million Customers, Announces Plans 3Q22 Shareholder Letter 5.8 MB. 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Our business, financial condition and results of operations may be adversely affected by the COVID-19 pandemic or Revenue Transaction Revenue ExtraCash: Dave Bank: We generate revenue when our users engage in cash We receive debit interchange fees when users pay with advances for overdraft protection their Dave debit card or fund their account via Debit rails also read VPCCs final prospectus dated March 4, 2021 (SEC File No. by banking regulators and Dave, as a service provider to its bank partner, undertakes certain compliance obligations. This Presentation does not constitute an offer, or a solicitation of an offer, to buy or sell any securities, investment or other Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December rights or the right of the applicable licensor to these trademarks, service marks and trade names. connection with the Proposed Business Combination. The combined companies would have an enterprise value of approximately $9.3 billion, the SPAC said. Dave Dave; SPAC Presentation Deck (June 2021) . 3Disclaimer INDUSTRY AND MARKET DATA Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, PARTICIPANTS IN THE SOLICITATION VPCC, Dave and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies Market data from FactSet as of June 1, 2021. Favorable Opinion of Each Brand Dave 42% 30% 73% Peer-to-Peer A 36% 32% measured as connected bank accounts. of VPCCs stockholders in connection with the Proposed Business Combination. The loss of such key personnel could negatively impact the operations and financial results of the Economic, political and other conditions may adversely affect trends in consumer spending. Marketing investment recovered in ~9 months on 1 a gross profit basis Business Combination is subject to a number of conditions and if those conditions are not satisfied or waived, the Proposed Business Combination agreement may be terminated in accordance with its terms and the Proposed Business Combination may not See Forward-Looking Statements paragraph above. up to $25,000,000 of Dave OD Fundings obligations under the Credit Facility, and currently that limited guaranty is secured by a first-priority lien against substantially all of Dave, Inc.s assets. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures. Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 Source: Dave Management projections. The interests of the sponsor. The risks described below There may be additional risks of which neither VPCC nor Dave presently are aware or that VPCC and Dave currently believe are immaterial that could also cause actual results to differ from The company through its brand aims to make its. ~20mm people who Need overdraft 10-20x per year Up N' Comers Underserved by existing ~20-25mm High In their 20s, making financial bank accounts People Need decisions for the first time Overdraft 3x+ / year Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. completion of the Proposed Business Combination. Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. Entry Proven SPAC Sponsor Demonstrated track record of executing SPAC transactions with significant PIPE activity Strong Unit Economics The VPC SPAC franchise has raised over $1.2 billion of primary capital since September transactions. all of the information that may be required to make a full analysis of Dave or the Proposed Business Combination. Instantly search thousands of Presentation Decks by world-leading companies on Slidebook Login. VPCC and Dave urge investors, stockholders and other interested persons to read, when available, the preliminary proxy statement/prospectus included in the Form S-4 and, when available, the 25Service forward-looking information, is for illustrative purposes only and should not be relied upon as necessarily being indicative of future results. Note: Dave has not yet completed its 2020 audit and therefore all financial statement not able to secure or successfully migrate client portfolios to a new bank partner or partners, we will not be able to conduct our business. Neither specific product, or a solicitation of any vote or approval, nor shall there be any sale of securities, investment or other specific product in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or Combination when it becomes available. 10Average fees paid per year by Dave customers to legacy banks Structurally High Fees, Low Created by Bloated Bank Cost Accessibility, and Poor Customer Structure & Innovators Service Dilemma Overdraft ($35) Dave Users have recorded in aggregate $300-400mm / year in fees from their legacy banks 8 in 2019 2020.1 Capital Raised / Users Acquired Dave: $6 Other into the gig economy for extra help Existing bank relationship ~100- not helping 120mm Getting Living paycheck-to- HIPP-sters People paycheck By High Income, Paycheck to Paycheck Building credit Dave - SPAC Presentation Deck. 03/22. Third-party consumer research commissioned by Dave. Compensation (0) (0) (2) (-) D&A (0) (1) (2) GAAP Operating Income ($2) $5 $5 Source: Dave Management. These statements are based on various and liabilities to Dave or inhibit sales of our products. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products offered by financial technology companies such as Dave is often Facebook; Twitter; . offered by financial technology companies such as Dave is often uncertain, evolving and unsettled. transactions between Dave and VPCC. 2Q21 & Beyond Feedback and Product Optimization ~31% penetration 1.3 mm Dave Bank Users Projected Dave Bank Users of Dave user base 1.2 mm 1.1mm 943k ~95% CAGR 784k 633k 273k 176k 141k 128k 114k 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug
Otonomo to List on Nasdaq with Software Acquisition Group Inc. II Dave CEO Jason Wilk on Saving Customers Billions and their SPAC Deal Combination (the Merger Agreement) and the Proposed Business Combination, and approval of the other proposals to be described in the proxy statement relating to the Proposed Business Combination. of the stockholders of VPCC, certain regulatory approvals, or the satisfaction of other conditions to closing in the Merger Agreement; (iv) the occurrence of any event, change, or other circumstance that could give rise to the termination of the Dave and VPCC have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. There is no guarantee that a stockholders decision whether to redeem its shares for a pro rata portion of the trust account will put the stockholder in a better future economic position. You can review a SPAC's proxy, information or tender offer statement in the SEC's EDGAR database. These statements are based on various assumptions, whether or not identified in this that advances Americas collective potential 1 Based on Center for Financial Services Innovation. additional tool for investors to use in evaluating projected operating results and trends in and in comparing Daves financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. completeness of this Presentation or any other information (whether written or oral) that has been or will be provided to you.
Jobs at Dave - Fintech Careers - Current Openings FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated substantial number of our users to repay funds they receive through the use of our overdraft protection product would harm our business and financial results.
Presentations | Dave Inc. depreciation and amortization, and excludes the impact of stock-based compensation and EBITDA Margin is defined as EBITDA divided by revenue. If our present or any future key banking relationships are terminated and we are Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB Failure by us, or any of our business partners, to comply with applicable laws and regulations could have a material adverse effect on our business, financial position and results of operations. of overdraft protection advances, typically avoiding ~$35 overdraft fee from their legacy bank. Dave and VPCC RISKS RELATED TO DAVES BUSINESS We have historically incurred losses in the operation of our business. 2, Disclaimer INDUSTRY AND MARKET DATA Although all information and Actual events and circumstances are difficult or impossible to fueling marketing spend 21Instant access to high-impact, low-CAC products More users and more data lead to more products with outstanding pricing Driving word-of-mouth, supporting brand halo Increasing engagement and enhancing user LTV at no There can be no assurance that VIH III will be able to raise sufficient capital in the Private Placement to consummate the Proposed Business Combination or for use by the combined company following the Proposed Business Combination (the Q1 2022 Earnings Supplement 562.6 KB. its consolidated subsidiaries. 102k 22k 2020A 2021E 2022E 2023E May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 2021A 2020A No concerted marketing effort all in-app Broad marketing campaign supported demand from existing users by targeted marketing to existing users from and be more extensive than those presented below. Dave - SPAC Presentation Deck.
Ex-99.2 - Sec Structure Implied Sources & Uses ($mm) Dave to merge with VPCC through a reverse-subsidiary merger Sources Dave to become a wholly-owned subsidiary of VPCC, which will be Existing Dave Shareholder Equity $3,500 renamed Dave and be
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