US fintech Dave shares fall 11% as investors sell the news after Q2 beat

Daves stock fell 11.4% in premarket trading after its Q2 2026 earnings report, triggering a sell-the-news reaction despite beating revenue and adjusted profit estimates. Revenue hit about $171 million, up 30% year over year, with adjusted EPS of $4.12 beating the $3.42 consensus, prompting raised 2026 guidance. But GAAP net income was just $6.7 million after $36.9 million in non-cash costs, yielding unadjusted EPS of only $0.49. The stock had surged about 176% over the past year, leaving little room for disappointment. B.Riley raised its price target to $449 from $370, while broader markets offered little support amid fintech sector rotation.