Chime CEO Says User Growth 'Seasonal’

Financial Performance - The company experienced a solid 37% revenue growth [1][2] - Gross margin stands at 87% [1] - The company exceeded expectations across the board on revenue growth and adjusted EBIT [2] Active Member Growth - Active member growth was 23% year-over-year in both Q1 and Q2, accelerating the rate [1][4] - Investors may be starting to understand the nuances of the business, including its seasonality [3] - Sequential quarter-to-quarter growth might be disappointing to some who don't understand the seasonality [4] Business Model & Strategy - The company focuses on serving everyday consumers and banking them in a primary account capacity [6] - The company is primarily a payments-driven business, not a lending business [7] - Credit and lending constitute a mid-teens percentage of the company's revenue [8] - The company aims to develop long-term partnerships with members, helping them avoid fees, build credit, and save [8] AI Integration - The company is leveraging AI to enhance the product experience and operations [11] - Over 70% of customer interactions are served with generative AI, leading to increased customer satisfaction [12] - The company envisions AI as a digital partner to help customers manage their day-to-day financial life [13]