Chime raised its full-year revenue growth outlook for 2026, citing sustained demand for its digital banking offerings, and said its chief financial officer of ten years, Matt Newcomb, will depart later this week. The company reported quarterly results that outpaced analyst estimates and highlighted growth in payments and membership-driven revenue streams.
Management said payments revenue - including outbound instant transfer fees - grew 21% in the second quarter, underscoring continued customer activity. "We continue to see signs of a healthy consumer," CEO Chris Britt said, noting resilience across income segments and spending categories both discretionary and non-discretionary.
Chime now expects revenue to increase 25% to 26% in 2026, above the 22.7% growth forecast compiled from analysts by LSEG. For the current quarter, the company projected revenue between $680 million and $690 million, exceeding analysts' consensus of $668.1 million.
Newcomb, who has served at Chime for about a decade and helped guide the company through its June 2025 IPO, will step down later this week. Chime's president, Mark Troughton, will assume the role of interim CFO while the company searches for a successor.
Operational and customer metrics
Chime targets customers with limited credit histories and those who primarily use debit products. This year the company has added paid membership tiers and launched investing features as it broadens its service mix. Active members grew 20% year-over-year to 10.4 million, while average revenue per active member rose 6% to $260.
Company commentary pointed to Chime Prime as a contributor to second-quarter growth, and said its fastest-growing cohort remains customers earning $75,000 or more annually.
Revenue for the three months ended June 30 rose 27% to $670 million, topping estimates of $640.4 million.
Profitability and cost actions
Chime reported net income of $28 million, marking its second straight profitable quarter. Last week the company announced a workforce reduction of roughly 10% as it seeks efficiencies, joining other firms that have reduced headcount while investing in AI-driven tools and process improvements.
The company emphasized ongoing demand for its mobile-first banking products and continued expansion into adjacent financial services such as investing as drivers of its performance.