Chime Raises Guidance, Details $590M Stride Bank Acquisition
CHYM has more than doubled off its 52-week low of $15.88.
Summary
Chime raised Q3 revenue guidance to $705 million (30% YoY) and full-year to $2.76-2.77 billion (26-27% YoY), with adjusted EBITDA of $117-120 million and $481-489 million respectively. The $590 million cash acquisition of Stride Bank is expected to be immediately accretive to EPS, with over $100 million in net synergies from sponsor bank fee savings, expanded lending, and lower cost of funds. The deal values Stride at 1.5x tangible book value and is expected to close in H1 2027 pending regulatory approval. This follows the initial announcement yesterday and pre-market 11% jump; shares are now up 9.84% at $35.49, near the 52-week high of $35.55. The specific guidance figures and synergy estimates provide concrete upside beyond the initial headline.
At the time of this announcement, CHYM was trading at $34.30 on NASDAQ in the Finance sector, with a market capitalization of approximately $13B. The 52-week trading range was $15.88 to $35.55. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.