CHYMHIGH SIGNALFINANCIAL10-Q

CHYM experienced a massive deterioration in profitability with net losses exploding from $22M to $55M quarterly and $6M to $965M on a nine-month basis, despite strong 52% revenue growth.

The dramatic swing from near-breakeven to nearly $1 billion in nine-month losses, combined with a 49% cash burn dropping reserves to $445M, raises serious questions about the company's path to profitability and cash runway. While revenue growth of 52% is impressive, the inability to control losses at this scale suggests fundamental operational or strategic challenges that could threaten the business model.

Comparing 2025-11-10 vs 2025-08-11View on EDGAR →
FINANCIAL ANALYSIS

Despite strong top-line performance with revenue growing 52% to $1.6B and gross profit expanding proportionally, CHYM's financials deteriorated dramatically with nine-month net losses ballooning from $6M to $965M while R&D expenses increased 18% to $824M. The company's cash position collapsed 49% to $445M even as operating cash flow improved to $20M, and share count increased by 3.6M shares, indicating significant cash burn and potential dilution. This combination of massive loss expansion despite revenue growth, declining cash reserves, and increased spending suggests serious profitability challenges that could jeopardize the company's financial stability.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+637.4%
$2.7M$20.2M

Operating cash flow surged 637.4% — exceptional cash generation, highest quality earnings signal.

Capital Expenditure
Cash Flow
+56.7%
$3.6M$5.7M

Capital expenditure jumped 56.7% — major investment cycle underway; assess returns on deployment.

Revenue
P&L
+51.9%
$1.0B$1.6B

Strong top-line growth of 51.9% — accelerating demand or successful expansion into new markets.

Gross Profit
P&L
+51.6%
$919.4M$1.4B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Cash & Equivalents
Balance Sheet
-48.7%
$868.3M$445.0M

Cash declined 48.7% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.

R&D Expense
P&L
+17.7%
$699.6M$823.6M

R&D investment increased 17.7% — signals commitment to future product development, though near-term margin impact.

LANGUAGE CHANGES
NEW — 2025-11-10
PRIOR — 2025-08-11
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.
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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.
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