Greetings, and welcome to Dave's First Quarter 2022 Earnings Call. As a reminder, this conference is being recorded. This afternoon, Dave issued a press release announcing results for the first quarter ended March 31, 2022, which can be found on investors.dave.com. We would like to remind you that during this conference call management will be making forward-looking statements, including statements regarding expectations related to financial guidance, outlook for the sector and company, and the expected investment, and growth initiative. Please note these forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect the company's views only as of today, should not be relied upon as representative of view as of any subsequent date, and Dave undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For a further discussion of the material risks and other important factors that could affect our financial results, please refer to the company's filings with the SEC, including its Form 8-K filed with the SEC on March 25, 2022. In addition, during today's call, the company will discuss non-GAAP financial measures, which they believe are useful as a supplement measure of Dave's performance. These non-GAAP measures should be considered in addition to, and not as a substitute for or in isolation from GAAP results. You will find additional disclosures regarding the non-GAAP financial measures discussed on today's call in Dave's press release, issued this afternoon, and its filings with the SEC, each of which is posted on the Dave website. The webcast of this call will also be available on the Investor Relations section of the company website. It is now my pleasure to introduce your host, Mr. Jason Wilk, CEO, President, and Chairman of the Board. Thank you, Mr. Wilk. You may begin.

Thank you, operator. Good afternoon. And thank you for joining us for our first quarter earnings call. For today's call, I'd like to begin by providing some highlights on the quarter. And then we'll recap our growth strategy oriented towards driving shareholder value. After that, I will turn it to our CFO, Carl Bellman, who will discuss our first quarter results in more detail, as well as our outlook. Now on it some highlights from Q1 2022. During the quarter, we added 340,000 net new members in end of the quarter with approximately 6.4 million total members on the Dave platform. We had an average of 1.45 million monthly transacting members in Q1. As a reminder, a monthly transaction member if someone who makes a funding, spending, ExtraCash or subscription transaction with Dave. This is an important metric for us as we continue building towards becoming the primary banking product for our members and driving daily transactional engagement. Those numbers completed an average of 4.4 transactions per month during the quarter. Our non-GAAP total operating revenue for the quarter was $43.7 billion representing growth of 24% year-over-year. As a reminder, Q1 is historically our latest quarter due to tax refund season, reducing the need for credit amongst our target consumer. Adjusted EBITDA for Q1 was negative $18.3 million as we continue to invest in growth and product development. As we've previously mentioned, over the next eight to 10 quarters our focus continues to be making discipline investments and to achieve profitable growth and unit economics at scale. After this period, we believe will be well positioned to deliver positive adjusted EBITDA and free cash flow going forward. We're seeing encouraging trend through April with record origination volume and monthly transacting members. New member growth and efficiency is also trending favorably.…

Thank you, Jason. In terms of top line performance, total non-GAAP operating revenues were approximately $43.7 million in Q1 2022, representing 24% year-over-year growth compared to the same period last year. On a GAAP basis, service base revenue was up approximately 21% year-over-year compared to the same period last year, which was primarily driven by growth and ExtraCash originations. We had significant growth in transaction based revenue versus the prior year as our banking product continues to ramp. Q1 GAAP transaction based revenue was approximately $3.3 million, up approximately 64% year-over-year compared to the same period last year. We continue to believe in the opportunity to drive substantial growth in transaction revenue as we integrate the ExtraCash and spend experiences, which Jason mentioned previously, and roll out additional product enhancements throughout the year to drive recurring fan engagement. We think this is an important step towards our longer term ambition of winning primary account status with our members. In terms of key trends, Q1 is a seasonally slower from a growth and engagement perspective as tax refunds reduce the demand for the ExtraCash service. This trend plays itself out both in terms of top of funnel efficiency as well as existing member engagement. As such, we attempt to align our largest marketing and product investments and initiatives to peak demand cycles throughout the year, which are during the summer and holiday season. Next, I'll address our non-GAAP variable profit. This metric is used internally as a helpful indicator of the health and margin profile of our unit economics. To recap the key drivers of this metric, our ExtraCash credit performance, as well as the primary direct cost drivers associated with our broader product portfolio. For the quarter, non-GAAP variable profit was approximately $17.8 million representing of approximate 41% margin relative…

At this time, we will be conducting a question-and-answer session. [Operator Instructions] Our first question comes from Sagiv Hartmayer with Jefferies. Please proceed with your question.

Hey, this is [indiscernible]. Thank you for taking my questions. Just to start off a few questions in terms of modeling. Do you mind just confirming your diluted shares outstanding and EPS for the quarter and also when can we expect the balance sheet be released?

We will provide the balance sheet, I think we're posting the Q by Friday. And then we have a detailed share count breakdown on the IR page. So just pointing to that for more detailed breakdown there.

Okay, great. Thank you. And one more in terms of behavioral changes, are you noticing any changes in product set among your customer base? Are you seeing any customers utilizing more of your ancillary products, any color around that would be greatly appreciated.

Ancillary products in terms of like Side Hustle?

Right, right.

So I would say we're very focused on the top of funnel and our go-to-market strategy around that the credit first approach, we just find it with a macro environment around the stimulus waiting. In an inflationary environment, that product is really resonating more than ever with folks. We finish off our integration with ExtraCash in the banking business at the end of this quarter and early Q3. So that's where we do think there'll be more meaningful opportunity for people to [indiscernible] fashion further into banking from there. We don't report on Side Hustle stats, but we are looking to revamp that product and we'll probably -- there could be an opportunity later in the year to talk further about it.

Okay, great, thank you.

[Operator Instructions] At this time, it looks like we have no more questions in the queue and this does conclude today's conference and you may disconnect your lines at this time. Thank you for your participation.