Neutron Holdings, Inc., the parent company of Lime, reported significant financial performance improvements in its latest quarterly filing. For the three months ended June 30, 2026, the company generated revenue of $304.2 million, a 24% increase from $246.1 million in the same period last year. The six-month revenue also rose by 26% to $474.4 million, compared to $375.1 million in the prior year. The gross profit for the second quarter was $129.1 million, up 18% from $109.1 million, while the six-month gross profit increased by 26% to $173.6 million.
The company experienced a notable shift in profitability, reporting a net income of $295.4 million for the second quarter, a substantial increase from $20.5 million in the same quarter of 2025. This dramatic rise in net income was attributed to a discrete tax benefit of $289.1 million resulting from the release of a valuation allowance on deferred tax assets. The net income for the first half of 2026 was $234.1 million, compared to a loss of $35.5 million in the same period last year.
Operationally, Neutron Holdings expanded its average operational fleet by 22% year-over-year, reaching 407,707 vehicles. Monthly Active Users (MAU) also increased by 22%, reaching 5.0 million. The company reported a revenue per vehicle per day (RVD) of $8.20, reflecting a slight increase from $8.10 in the previous year. The growth in user engagement and fleet size indicates a successful strategy in expanding its market presence.
Strategically, the company completed its initial public offering (IPO) on July 2, 2026, raising approximately $141.7 million in net proceeds. This capital infusion is expected to enhance liquidity, with cash and cash equivalents totaling $278.1 million as of June 30, 2026. Additionally, the company repaid its Senior Secured Term Loan in full following the IPO, alleviating previous concerns regarding its ability to continue as a going concern. Looking ahead, Neutron Holdings aims to leverage its strengthened financial position to further expand its operations and enhance its service offerings in the micromobility sector.
About Neutron Holdings, Inc.
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