Fintech Chime Announces Search for New CFO and Q2 Results

Fintech platform Chime has published its financial results for the second quarter of 2026, delivering top-line revenue growth and a second consecutive quarter of GAAP profitability. 

Alongside the earnings report, the business announced a transition within its executive team: Chief Financial Officer Matt Newcomb is stepping down from his role, effective Friday 7 August 2026.

Mark Troughton, Chime's President, has been appointed President & Interim Chief Financial Officer.

A decade of experience 

Mark, a Chartered Accountant and public company executive, currently oversees Operations, Risk, Lending, Corporate Development and Strategy. Chime confirmed it has initiated an executive search for a permanent CFO. 

To ensure continuity during the search and transition period, Matt will stay on as an advisor.

Chris Britt, CEO and Co-Founder of Chime comments: “Over his 10-year tenure, Matt has been instrumental to the success of Chime. He drove our financial and investment strategy as we pioneered a new category and scaled our business through multiple private financing rounds, and guided us through our IPO and transition to a public company. 

“His impact on Chime extended well beyond his role as CFO and, while we will all miss Matt, he has earned a well-deserved break. 

“Mark is one of Chime’s most seasoned executives with deep knowledge of our business and financials. Having worked alongside Mark for more than 20 years, I know he has the experience to lead our finance team through this transition to a new CFO.”

Financial performance and margin expansion

During the second quarter, Chime generated total revenue of US$670m, representing a 27% increase year over year. The performance exceeded company guidance, following a seasonally active first quarter linked to US tax refund volumes.

Payments revenue rose 17% year over year to US$430m – or 21% when combined with Outbound Instant Transfer (OIT) revenue. Purchase Volume (PV) rose 17% to US$38bn, expanding to US$39.4bn when accounting for OIT volume. Platform-related revenue recorded a 48% increase year over year, reaching US$240m.

Gross profit for the quarter stood at US$595m, reflecting an 89% gross margin, while non-GAAP transaction profit increased 36% year over year to US$492m, yielding a 73% transaction margin.

On a net basis, the company posted net income of US$28m with a 4% net margin. Adjusted EBITDA reached US$102m, reflecting a 15% margin that expanded by more than 12 percentage points year over year, translating to a 60% incremental adjusted EBITDA margin.

Chris continues: “We delivered another strong quarter, with accelerating revenue growth, expanding margins, and a second consecutive quarter of GAAP profitability.

“The strong adoption of Chime Prime, continued momentum across our liquidity products, and major new Chime Enterprise employer partnerships show that our strategy is working. 

“As we continue to expand our product portfolio and deepen member engagement, we believe we are well positioned to achieve our ambition to be the market leader in primary bank account relationships in the US.”

User base growth and strategic positioning

Chime reported a 20% year over year rise in Active Members, bringing the total to 10.4 million. 

Over the preceding 12 months, the firm added 1.7 million net new Active Members. 

Within the second quarter alone, net additions reached approximately 200,000 active members quarter over quarter, double the volume typical for the period. Average Revenue per Active Member (ARPAM) grew 6% year over year to US$260.