At a Glance

  • Chime announced on Wednesday that Chief Financial Officer Matt Newcomb will step down this Friday, August 7, 2026. The fintech companyofficial press releaseconfirmed this personnel change.
  • The company said that while it searches for a new CFO, PresidentMark Troughtonwill serve as interim CFO in addition to his existing responsibilities.
  • Chime also released its second-quarter earnings the same day, showing revenue up 27% year-over-year to $670 million, and active members up 20% from June 2025 to 10.4 million.

In-Depth Analysis

According to Chime CEO Chris Britt on Wednesday, Newcomb's departure marks the end of his decade-long tenure with the company. During this period, Newcomb led the company's financial and investment strategy and drove continued business expansion across multiple private financing rounds and theinitial public offering (IPO)conducted last year.

"His impact on Chime extends far beyond the CFO role. While we will miss Matt, he deserves a well-earned break," Britt said in a statement on Wednesday.

Meanwhile, Troughton will take on the additional role of interim CFO alongside his existing duties, which cover operations, risk, credit, corporate development, and strategy. Britt called him "one of Chime's most experienced executives with a deep understanding of our business and financial position."

"I have worked with Mark for over 20 years and know he has the ability to lead the finance team through a smooth transition to the new CFO," Britt added.

The company also revealed that Newcomb will serve as an advisor to Chime during the search for a successor and the transition period.

Thanks to strong second-quarter performance, Chime raised its full-year guidance. The company now expects full-year revenue growth of 25% to 26%, up to approximately $2.745 billion; it also expects adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) to be between $465 million and $475 million.

Based on this, the company projects third-quarter revenue of $680 million to $690 million and adjusted EBITDA of $105 million to $110 million.

Britt attributed the company's performance toChime Prime(the newly launched top-tier membership level) and its "strong adoption rate." Chime stated in Wednesday's announcement that Prime members "drove accelerated purchase volume growth, which in turn boosted payments revenue growth." Data shows payments revenue grew 17% year-over-year to $430 million.

Platform-related revenue grew 48% year-over-year to $240 million.

Additionally, Chime added 1.7 million net new active members over the past year, setting a company record for net member additions over a 12-month period. The second quarter alone saw approximately 200,000 net new active members. Average revenue per active member grew 6% year-over-year.