Chime Files for Nasdaq IPO, Reports 2024 Results

Chime Financial, the largest U.S. neobank, has filed for an IPO with the SEC, aiming to list on Nasdaq under the ticker 'CHYM.' The company reported 2024 revenue of $1.7 billion with a net loss of $25 million, while achieving $518.7 million in revenue and $12.7 million in net income in the first quarter of 2025, showing a transition toward profitability. Chime serves 8.6 million active members, 67% of whom use its services as their primary account, and partners with FDIC-insured banks to deliver low-fee, mobile-first banking. The IPO, underwritten by Morgan Stanley, Goldman Sachs, and J.P. Morgan, has not yet disclosed the number of shares or price range. Chime’s business model focuses on interchange fees over traditional lending, and the company highlights regulatory risks tied to potential changes in fee rules. The filing reflects increased optimism toward tech IPOs amid Chime’s recent growth and profitability.