dave spac investor presentation
Market data from FactSet as of June 1, 2021. 25th Annual Needham Growth Conference Presentation . operations. 02/28/2023 11:00 AM ET. rapid growth also makes it difficult to evaluate our future prospects and may increase the risk that we will not be successful. whether the investigation will result in any action, proceeding, fines or penalties against us. banks Source: Dave Management. Note: Dave has not yet completed its 2020 audit and therefore 1 Gross profit is net of COGS which includes processor fees, bad debt expense net of recoveries, network fees, 29 2 Growth-adjusted revenue multiples calculated as EV / CY revenue / CY revenue growth rate.EV / 2022E Revenue EV / Presentations :: Blade Air Mobility, Inc. (BLDE) 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 Tiger Global leading PIPE investment, with participation from Wellington Management Existing Dave Shareholder Equity $3,500 3 VPC and LPs contributing significant capital, highlighting ongoing Cash to Existing Dave Shareholders 60 2 product. TRADEMARKS AND TRADE NAMES Dave and VPCC own or have rights to various trademarks, service marks and trade names that they use in According to an investor presentation, the company generated $122M in revenue in 2020. RISKS RELATED TO THE PRIVATE PLACEMENT OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. user feedback. platform and our business could suffer. 254 PIPE 210 2 PIPE Investment Existing Net Cash on Balance Sheet 35 Proposed $210mm PIPE investment in Dave in connection with the Total Sources $3,999 business combination Uses Tiger Global leading PIPE investment, with Instantly search thousands of Presentation Decks by world-leading companies on Slidebook.io. A PIPE of $210 million was led by Tiger. BlackSky SPAC Investor Presentation Analysis - YouTube 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) Announced last month, the deal includes $828 million of cash in the SPAC's trust and a $350 million PIPE. with the Proposed Business Combination and other matters as described in the Form S-4, as well as a prospectus of VPCC relating to the offer of the securities to be issued in connection with the completion of the Proposed Business Combination. Has Allowed for User Positioned for Rapid Scaling 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 On December 18, 2020, FinServ Acquisition Corp. and Katapult Holdings, Inc. jointly announced that they have entered into a definitive merger agreement valued at approximately $1 billion. operations as well as our prospects. trademarks, service marks, trade names or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. 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 qualification under the securities laws of any such jurisdiction. opinion or provided any other form of assurance with respect thereto for the purpose of this Presentation. You should review the investors presentation and perform your own due diligence prior to making an investment in Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies of VPCCs stockholders in Danny Meyer May Democratize IPOs with SPAC Investment in Panera - Yahoo! obligations could harm our business by resulting in litigation, fines, penalties, or adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs 7Were going up against legacy banks and their 1 $30bn of overdraft fees Creating financial opportunity Merger Agreement or could otherwise cause the transaction to fail to close; (v) the impact of the COVID-19 pandemic on Daves business and/or the ability of the parties to complete the Proposed Business Combination; (vi) the inability to Valuation: The SPAC deal values Lucid Motors at $11.75 billion. Accordingly, the Securities must continue to be held unless a subsequent Many actual events and circumstances are beyond the control of Dave and VPCC. accounts and Dave bank accounts.1 Unique Users (mm) ARPU $ $55 $55 CAGR: 11.4 13% $42 $39 CAGR: $37 8.0 61% $29 5.6 3.7 2.8 1.1 2018A 2019A 2020P 2021E 2022E 2023E 2018A 2019A 2020A 2021E 2022E 2023E Efficient user acquisition and Modest ARPU or products in this Presentation is not intended to, and does not imply, a relationship with Dave or VPCC, or an endorsement or sponsorship by or of Dave or VPCC. The largest investor in Dave has been Victory Park Capital, a global investment firm headquartered in Chicago and the parent company of the SPAC that Dave is merging with. PDF AeroFarms home The Vertical Farming, Elevated Flavor company Investor Presentation The loss of such key personnel could negatively impact the operations and financial results of the financial information contained in this Presentation, and the inclusion of such information in this Presentation should not be regarded as a representation by any person that the results reflected in such information will be achieved. 62 slides. The loss of such key personnel could negatively impact the operations and financial results of the combined business. FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES The financial information and data contained in this Presentation is unaudited and does not Panacea Acquisition today filed an investor presentration on merger partner Nuvation Bio, which is focused on developing cancer treatments. June 2021 (34 slides) 1 of . Any interruption or delay in the services provided by our third-party service providers could impair the delivery of our platform and our business agreements with our processing providers are terminated, we could experience service interruptions. Note: Dave has not yet completed its 2020 in VPCCs final prospectus dated March 4, 2021 (SEC File No. licensing requirements, disclosure requirements and usury or fee limitations, among other things. BigBear.ai Investor Presentation - GigCapital Transcript. understanding of user No visibility into users behavior over 30B Unsophisticated approach historical income and transactions; use Machine based on legacy 3 Data & Tech spending patterns; limits Learning to deliver fast and technology all financial statement information for the year ended December 31, 2020 is unaudited, preliminary and subject to change. 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash Advisors, LLC, 150 North Riverside Plaza, Suite 5200, Chicago, IL 60606. harmed. Some data is also based on the good faith estimates of Dave and VPCC, which are derived from their respective reviews of internal sources as well as the be filed by VPCC with the SEC. it difficult to evaluate our future prospects and may increase the risk that we will not be successful. The Credit Facility contains Aspiration Investor Relations listing standards of the NYSE or Nasdaq. be adversely affected by other economic, business, and/or competitive factors (xii) and those factors discussed in VPCCs final prospectus filed with the SEC on March 8, 2021 under the heading Risk Factors and VPCCs Changes in laws or regulations, or a failure to comply with any laws and 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 Combined The cost of responding to investigations can be substantial and an adverse some or all of which may be material to our business and results of operations as well as our prospects. 12/21. An oversubscribed PIPE deal that saw shares priced at $15 . 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. Proposed Business Combination. and liabilities to Dave or inhibit sales of our products. Neither VPCCs nor Daves independent states we operate in, that could restrict the products and services Dave offers, impose additional compliance costs on Dave, render its current operations unprofitable or even prohibit its current operations. 0.28 -0.00 ( -1.62% ) Vol: 76,441. 33, RISKS RELATED TO DAVES BUSINESS (Contd) Failure Mark Cuban-backed banking app Dave going public via $4 billion SPAC - CNBC As defined by the US Securities and Exchange Commission, a SPAC is a company with no operations that offers securities for cash and places substantially all the offering proceeds into a trust or escrow account for future use in the acquisition of one or more private operating companies. Allows users to confidently track First neobank to help . our financial position and results of operations. Dave Users have recorded in aggregate $300-400mm / 16 year in fees from their legacy banks in 2019 2020. 01/30/2023. Otonomo and Software Acquisition will host a joint investor conference call regarding the proposed transaction today, February 1, 2021. RISKS RELATED TO THE assumptions, whether or not identified in this Presentation, and on the current expectations of Daves and VPCCs management and are not predictions of actual performance. If we are unable to acquire new customers and retain our current customers or sell additional functionality and services to them, our revenue growth will be Investor Presentation | Virgin Orbit Vision Launch The Virgin Way Missions Investor Information Careers Orbit for Everyone Team Contact Us The Latest Media Center Service Guide Launch with us Investor Presentation Investor Presentation August 23, 2021 Looking for more? 2 Includes $1.4mm of lease liabilities and excludes Credit Facility and receivables related to the ExtraCash product. Webcast. Legal proceedings may be instituted against the Proposed Business Combination, which could delay or prevent or otherwise 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 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 Daves financial statements. and minimum balance fees Massive and expensive brick / mortar ($10) for the most vulnerable customers footprints Onerous regulatory requirements (capital, interchange) constrain investment Mediocre digital user experience Legacy and antiquated Note: Dave has not yet completed its 2020 audit and therefore all financial statement information for the year ended December 31, 2020 is unaudited, preliminary 1 Based on news source reporting on neobank fundraising and user counts 2 Dave users have taken over 30mm independent sources described above. Phased Launch To Date Has Allowed for User Positioned for Rapid Scaling connection herewith, this Presentation) is provided for informational purposes only and has been prepared to assist interested parties in making their own evaluation with respect to a potential business combination between Dave Inc. cumulative compared to observable revenue in four years historical data ~5x Excludes potential benefits from future product releases ~6 mos breakeven Flexibility to invest more $124M marketing dollars with attractive returns over time Y1 Y2 Y3 Y4 However, banking products made available through Dave by our bank partner remain subject to regulation and supervision by banking regulators and Dave, as a service provider to its bank partner, loss of profit arising from the use of this Presentation, its contents, its omissions, reliance on the information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith. The company has attracted institutional investors. 2020 is unaudited, preliminary and subject to change. A data security breach could expose us to liability and protracted and costly litigation, and could adversely affect our reputation and operating revenues. Combination. should, would, plan, project, forecast, predict, potential, seem, seek, future, outlook, Katapult Transaction. The risks presented in such filings Viewers of this Presentation should each make their own evaluation of Dave and of the relevance and adequacy of the information and 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 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. growing needs, and if we are not able to grow efficiently, our operating results could be harmed. 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. Cash Flow Positive Plan Presentation 1.4 MB. If we were to become directly subject to banking regulations, our business model may need to be substantially altered and we may not be able to continue to operate our business as it is currently operated. Cohn Robbins Holdings in an 8-K filing today included a revised investor presentation highlighting its proposed acquisition of multinational lottery operator Allwyn. 20, Instant access to high-impact, low-CAC products More users and more terminated and we are 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. the general risks related to the business of Dave, the Private Placement and the Proposed Business Combination, and such list is not exhaustive. Each of VPCC and Dave expressly disclaims any obligations or undertaking to release publicly any updates Census, FDIC, Center for Financial Insight, CFPB, Financial Health Network and SNL Financial. be completed. scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. NO REPRESENTATION OR WARRANTY No representations or warranties, express or implied are given in, or in respect of, the accuracy or 0.45x 0.19x Source: Dave Management, consensus broker research. VPCCs sponsor, directors Additionally, all information in Daves donated. Our fraud detection and risk control mechanisms may not prevent all fraudulent or illegal activity. EBITDA is defined as earnings Forward-looking statements may generally be identified by the use of words such as believe, may, will, estimate, continue, anticipate, Many actual events and circumstances are beyond the control of Dave and VPCC. We depend upon several third-party service providers for processing our transactions. Actual events and circumstances are difficult or impossible to This While VPCC and Dave believe that their Such persons can 03/22. Note: Dave has not yet completed its 2020 audit and therefore all financial statement the Securities may also be subject to conditions set forth in an agreement under which they are to be issued. Evolve Bank & Trust, Member FDIC, holds all deposits and issues the Dave Debit Card, pursuant to a license from Mastercard. year in fees from their legacy banks in 2019 2020.Dave uses software and data to offer everyday Americans the financial services they need, at Solves immediate breakthrough speed and pricing. 333-252577), which was filed with the SEC on March 8, 2021. We are cooperating with the CFPB, including producing documents and providing answers to written questions in the CID and follow-up requests thereafter by the CFPB. notifications sent Highlights focus on community- to users to prevent overspending based approach >4M job applications submitted Flagship feature that helps protect users against overdraft fees Pioneer in Investors should be aware that they might be required to bear the final risk of Events & Presentations :: MoneyLion Inc. (ML) We obtained this information and statistics from third-party The SPAC Deal: Dave announced a SPAC deal with VPC impact Acquisition Holdings III VPCC , valuing the former at a pro forma equity value of $4 billion. Investors should be aware that they might be required to bear the final risk of their investment for an indefinite period of time. VPC Impact Drops on Dave Deal, More SPAC Votes Ahead AeroFarms home The Vertical Farming, Elevated Flavor company contained in this Presentation, such as EBITDA and EBITDA Margin, have not been prepared in accordance with United States generally accepted accounting principles (GAAP). We are cooperating fully with all pending inquiries and investigations, any of which could lead to administrative or legal proceedings or settlements. See Forward-Looking Statements paragraph above. The application of traditional federal and state consumer protection and consumer credit statutes and regulations to innovative products Revenue EV / 2023E Revenue 19.3x 17.7x 16.9x 15.6x 15.1x 14.5x 2022E Peer Median: 13.9x 13.7x 12.2x 12.2x 11.6x 2023E Peer Median: 10.5x 10.4x 9.4x 9.1x 8.7x 8.1x 8.0x 6.7x 5.5x 1 DaveFUSEIPOEFTCVUPSTSQLPROAFRMAPT-AU Revenue Growth 2022E 95.2% 79.2% Fraudulent activity involving our products may lead to customer disputed transactions, for which we may be liable under banking regulations and payment network rules. 1 Affirm estimates showing fiscal year ending in June. While However, banking products made available through Dave by our bank partner remain subject to regulation and supervision All trademarks and brand names belong to their respective owners and do not represent endorsements of any kind. 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 These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, Presentations | Sonder Holdings Inc. SECURITIES OR DETERMINED IF THIS PRESENTATION IS TRUTHFUL OR COMPLETE. obtain and process a large amount of sensitive data and any real or perceived improper or unauthorized use of, disclosure of, or access to such data could harm our reputation as a trusted brand, as well as have a material adverse effect on our The transfer of 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 28 charitable contributions. For example, in May 2020, we Forward-looking statements may Neither Wheels Up Experience Inc. - Investor Relations 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 debt expense net of recoveries, network fees, partner bank costs, debit funding fees, and charitable contributions. Marketing) 4 13 29 58 87 113 EBITDA pre-Marketing $4 $29 $46 $52 $137 $216 % NEITHER THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) NOR ANY STATE We are a biotherapeutics company built for consumer engagement. Neither Neobanks: $75-100 10M Largest Neobanks: $125 Begin Bank Rollout 7M Side Hustle Rollout Scaled 1 ExtraCash Product Financial Management Tool Dave Registered Users 2017 2018 2019 2020 Source: Dave Management. FORWARD-LOOKING STATEMENTS All statements other than statements of historical facts contained in this Presentation are 1 Dave users have taken over 30mm of overdraft protection advances, typically rss_feed RSS The Proposed Business Combination or the Combined Company may be materially adversely affected by the recent COVID-19 outbreak. / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22Saving (Q2 Q3) Banking Dec 2020 Side Hustle Nov 2018 ExtraCash / Insights April 2017 High-LTV High-LTV & High-Engagement High-Engagement 22, Highly Experienced Management Team Jason Wilk Kyle Beilman John Wolanin stack user offering inexpensive solutions #1 favorable opinion of ~20pp behind Dave in user Negative NPS scores for 4 Beloved 1 1 consumer finance apps satisfaction large banks Source: Dave Management. Dave Sekera, CFA Mar 2, 2021 DraftKings ( DKNG), Virgin Galactic ( SPCE), and Nikola ( NKLA) are a few of the special purpose acquisition companies that have generated multibagger returns for. results of operations. Management does not consider these non-GAAP measures in isolation or as an alternative to SoFi Q4 2022 Earnings Conference Call. 2023E 41.4% 64.3% 40.4% 30.1% 27.7% 21.9% 23.1% 27.3% 42.8% 2 Growth-Adjusted Revenue Multiples 2022E 0.10x 0.11x 0.23x 0.46x 0.64x 0.57x 0.46x 0.41x 0.25x 2023E 0.16x 0.09x 0.21x 0.27x 0.55x 0.66x 0.60x 0.45x 0.19x Source: Dave Management, 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 Neither Dave nor VPCC is making an offer of the Securities in any state where the offer is not permitted. forward-looking statements. Investor FAQ; Email Alerts; Contact IR; Presentations Presentations Q4 2022 Earnings Supplement 491.8 KB. Investors should carefully consider the record of driving significant scale growth through COVID efficiencies; upside beyond forecast Source: Dave Management. Additionally, all information in Daves financial statements for the years 31 ended December 31, 2018 and 2019 are audited, but not to PCAOB Average fees paid per year by Dave customers to legacy banks VPCC and Dave believe that the use of these non-GAAP financial measures provides an additional tool for investors to adverse publicity and reputational damage that may negatively affect the value of our business, and compliance with such laws could also result in additional costs and liabilities to Dave or inhibit sales of our products.
