Neutron Holdings (LIME) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $304 million, up 24% year-over-year, driven by fleet growth, operational scale, and rider engagement initiatives.

• Average operational fleet grew 22% year-over-year to over 407,700 vehicles; monthly active users rose 22% to 5 million.

• LimePrime subscription program exceeded expectations, contributing to higher engagement and retention.

• Adjusted EBITDA for Q2 2026 was $84.2 million (28% margin), up from $76 million in Q2 2025.

• Completed IPO in July, strengthening the balance sheet and eliminating long-term debt.

Financial highlights

• Q2 2026 revenue: $304.2 million, up 24% year-over-year; gross profit: $129.1 million (42.4% margin).

• Adjusted Gross Profit: $158.4 million (52.1% margin); Adjusted EBITDA: $84.2 million.

• Net income: $295.4 million, EPS $4.73, including one-time IPO-related items and a discrete tax benefit.

• Free cash flow for Q2 2026 was negative at $(4.1) million, but last twelve months reached $40 million.

• CapEx: $75.7 million in Q2, with full-year guidance of $180–$185 million.

Outlook and guidance

• Q3 2026 revenue guidance: $340–$360 million; Adjusted EBITDA: $120–$130 million.

• Full-year 2026 revenue expected at $1.04–$1.1 billion; Adjusted EBITDA: $265–$285 million; CapEx: $180–$185 million.

• Expect to be free cash flow positive for the full year.

• Positive unit economics and significant growth potential in both mature and new markets.