Financial Performance and Membership Growth
Chime reported a significant revenue growth of 32% to $518.7 million in the March quarter, with a net income of $12.4 million and an active membership base of 8.6 million, reflecting a 23% increase year-over-year.
The company's average revenue per active member rose to $251, indicating an upward trend in its financial performance and member engagement.
Market Position and IPO Plans
Chime, a fintech firm not classified as a bank, competes with major financial institutions like and , leveraging interchange fees from its debit and credit card transactions.
With the IPO filing under the ticker symbol "CHYM," Chime joins a wave of tech companies preparing for public offerings amidst a recovering market, aiming to capitalize on its inclusive, technology-driven consumer finance model.