Chime’s Chief Financial Officer Matt Newcomb is stepping down, effective Friday, the company announced Wednesday. The fintech named its president, Mark Troughton, as the interim finance chief while the company conducts an executive search.
Chime also reported a 27% year-over-year jump in second-quarter revenue to $670 million. The company highlighted a 20% increase in active members, bringing the total to 10.4 million compared with June 2025. Despite the leadership change, the fintech adjusted its full-year guidance upward.
Chime now expects revenue growth between 25% and 26% year over year, with a maximum of around $2.745 billion. The company projects adjusted earnings before interest, taxes, depreciation and amortization between $465 million and $475 million. That works out to a projected $680 million to $690 million in revenue and adjusted EBITDA of $105 million to $110 million for the third quarter.
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CEO Chris Britt said Newcomb’s departure ends a 10-year stint at Chime. During that time, the CFO drove the company’s financial and investment strategy and scaled its business through private financing rounds and last year’s initial public offering.
“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,” Britt said Wednesday.
Newcomb will serve as an adviser to Chime during the executive search and transition period. Troughton, who already oversees operations, risk, lending, corporate development and strategy, will add the interim CFO duties to his existing responsibilities.
Britt called Troughton “one of Chime’s most seasoned executives with deep knowledge of our business and financials.” The CEO noted that having worked alongside Troughton for more than 20 years, he has the experience to lead the finance team through the transition to a new CFO.
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Membership and revenue metrics
Britt attributed the strong second-quarter performance to the “strong adoption” of Chime Prime, the fintech’s new top membership tier. The Prime tier contributed to an acceleration in Purchase Volume growth, which in turn drove payments revenue growth. Chime reported 17% year-over-year growth in payments revenue, reaching $430 million.
Platform-related revenue grew 48% year over year to $240 million. Chime also added 1.7 million net new active members over the past year, a record for any consecutive 12-month span. That figure breaks down to roughly 200,000 net new active members in the second quarter alone. Average revenue per active member saw a 6% year-over-year increase.
The company’s rapid growth and expanded membership base place new demands on its financial management structure. While Troughton’s deep institutional knowledge provides a stable bridge during this interim period, the fintech must balance the immediate need for continuity with the strategic goal of finding a permanent replacement who can guide the organization through its next phase of expansion.
