ADDED
2 Class A common stock, $ 0.0001 par value: 5,000,000,000 shares authorized, 342,235,376 shares issued and outstanding as of September 30, 2025.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (In thousands) (unaudited) Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Net loss $ ( 54,722 ) $ ( 22,026 ) $ ( 965,159 ) $ ( 5,738 ) Other comprehensive income (loss): Net unrealized gain on marketable securities, net of tax 915 3,545 245 2,067 Foreign currency translation adjustments ( 878 ) 81 ( 527 ) ( 147 ) Total comprehensive loss $ ( 54,685 ) $ ( 18,400 ) $ ( 965,441 ) $ ( 3,818 ) The accompanying notes are an integral part of these condensed consolidated financial statements.
Significant Accounting Policies In addition to the significant accounting policies described in the Company s final prospectus filed in connection with its IPO, our significant interim accounting policies include the following: Outbound Instant Transfer Fees The Company provides members the ability to instantly transfer funds from their Chime account to an external account at a fixed rate.
The Company is the principal in these arrangements, as it controls the transfer service before it is provided to the member.
In partnership with its bank partners, card networks, and processors, the Company's performance obligation is to authorize and make funds instantly available in the member's external designated account.
Revenue is recognized at a point in time on a gross basis when the transfer of funds is completed.
Fees are remitted to the Company through its bank partners, generally collected monthly in arrears.
Market-based PSUs In addition, the Company granted restricted stock units with a service condition, a liquidity condition, and a stock price hurdle market-based vesting condition.
Accounts Receivable, Net Accounts receivable, net consisted of the following as of the following dates: September 30, 2025 December 31, 2024 Receivables due from bank partners (1) $ 97,867 $ 97,994 Network incentive receivable 128,746 111,097 Other receivables 11,039 7,070 Accounts receivable, net $ 237,652 $ 216,161 _________________ (1) Receivables due from bank partners are net of bank partner and network costs.
As of September 30, 2025 and December 31, 2024, $ 72.4 million and $ 42.8 million of gross receivables due from bank partners were pledged as collateral.
REMOVED
2 Class A common stock, $ 0.0001 par value: 5,000,000,000 shares authorized, 338,594,524 shares issued and outstanding as of June 30, 2025.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In thousands) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ ( 923,376 ) $ 385 $ ( 910,437 ) $ 16,288 Other comprehensive income (loss): Net unrealized loss on marketable securities, net of tax ( 752 ) ( 300 ) ( 670 ) ( 1,478 ) Foreign currency translation adjustments 342 ( 82 ) 351 ( 228 ) Total comprehensive income (loss) $ ( 923,786 ) $ 3 $ ( 910,756 ) $ 14,582 The accompanying notes are an integral part of these condensed consolidated financial statements.
PSUs Performance-based PSUs The Company granted restricted stock units with a service condition, a liquidity condition, and other operational performance-based vesting conditions.
Accounts Receivable, Net Accounts receivable, net consisted of the following as of the following dates: June 30, 2025 December 31, 2024 Receivables due from bank partners (1) $ 95,088 $ 97,994 Network incentive receivable 123,620 111,097 Other receivables 10,886 7,070 Accounts receivable, net $ 229,594 $ 216,161 _________________ (1) Receivables due from bank partners are net of bank partner and network costs.
As of June 30, 2025 and December 31, 2024, $ 56.8 million and $ 42.8 million of gross receivables due from bank partners were pledged as collateral.
government securities, which amounted to $ 209.9 million and $ 352.6 million, or 93 % and 96 %, of the investments in marketable securities.
As of June 30, 2025, the Company had receivables outstanding from two bank partners, that represent 41 % of receivables collectively ( 24 % and 17 % for each respective bank partner), and one card network partner that represented 52 % of receivables.
The following table provides information about the Company s disaggregated revenue streams: Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Payments revenue $ 366,101 $ 307,963 $ 741,413 $ 625,275 Platform-related revenue (1)(2) 162,048 76,251 305,480 150,911 Total revenue $ 528,149 $ 384,214 $ 1,046,893 $ 776,186 __________________ (1) In the three and six months ended June 30, 2025, platform-related revenue included $ 86.0 million and $ 157.7 million that was not derived from contracts with customers.
In the three and six months ended June 30, 2024, platform-related revenue included $ 14.4 million and $ 27.4 million that was not derived from contracts with customers.
(2) In the three and six months ended June 30, 2025, platform-related revenue included $ 77.7 million and $ 142.0 million related to MyPay receivables, which was comprised of $ 48.2 million and $ 87.1 million related to off-balance sheet MyPay receivables and $ 29.5 million and $ 54.9 million related to on-balance sheet MyPay receivables.