Chime Boosts 2026 Revenue Forecast; CFO Matt Newcomb to Depart

Chime on Wednesday raised its full-year revenue growth forecast, signaling confidence in sustained consumer spending and robust demand for its digital banking products. The company also announced the departure of its longtime Chief Financial Officer, Matt Newcomb, who has been with the firm for a decade.

Upgraded Outlook and Leadership Change

Chime now projects its revenue will increase by 25% to 26% in 2026, a significant upgrade from the 22.7% growth anticipated by analysts in an LSEG-compiled consensus. The fintech firm also provided strong guidance for the current quarter, forecasting revenue between $680 million and $690 million, which is above the analyst estimate of $668.1 million.

Alongside the upgraded forecast, Chime announced that CFO Matt Newcomb will step down later this week. Newcomb was a key figure in leading the company through its June 2025 initial public offering. Company President Mark Troughton will assume the role of interim CFO.

Strong Q2 Performance

The optimistic outlook follows a strong second-quarter performance, driven by what the company described as a resilient U.S. consumer. "We continue to see signs of a healthy consumer," CEO Chris Britt stated, noting strength across various income levels and spending categories.

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Key financial highlights for the three months ended June 30 include:

• Revenue: Rose 27% year-over-year to $670 million, surpassing estimates of $640.4 million.
• Net Income: The company reported a profit of $28 million, marking its second consecutive profitable quarter.
• Payments Revenue: Increased by 21%, reflecting sustained customer activity.

Key Growth Metrics

Chime's growth was underpinned by an expanding user base and higher revenue per user. The company reported that its active members grew by 20% from the previous year to reach 10.4 million. Simultaneously, the average revenue per active member increased by 6% to $260.

The company credited its Chime Prime membership tier for helping to power its quarterly growth. It also noted that its fastest-growing user segment consists of customers with annual incomes of $75,000 or more. The strong results come shortly after Chime announced last week it would reduce its workforce by 10%, citing a move to streamline operations through AI-driven efficiencies.