CHYM•CHYM•Chime’s Q1 revenue climbed 25% to $647.4 million, led by $38.7 billion in card purchases and rising platform product usage. The fintech delivered its first GAAP profit of $53 million with active members at 10.2 million, and hundreds of thousands have started Trump Accounts ahead of July 4.
Chime reported Q1 revenue of $647.4 million, a 25% increase year-over-year, driven by $38.7 billion in card purchase volume and growth in platform products such as MyPay and Instant Loans. The fintech achieved its first positive GAAP net income of $53 million, marking a key milestone in its path to profitability.
Active members reached a record 10.2 million, up 700,000 from the prior quarter, representing 19% year-over-year growth and reflecting robust consumer adoption of Chime’s banking services. This expansion underscores strong engagement across core products, including checking accounts and instant transfers.
Chime reports that hundreds of thousands of its members have begun setting up Trump Accounts, custodial IRAs for children under 18 offering a $1,000 Treasury seed contribution for those born 2025–2028. The accounts, restricted to low-cost index funds and ETFs with no withdrawals before age 18, officially debut on July 4.
In the coming months, Chime plans to launch investing accounts for individual stocks, ETFs and a robo-adviser, challenging larger brokerage platforms. Management also sees a potential national bank charter approval within 18 months as a significant tailwind to broaden services and enhance revenue streams.
