Neutron Holdings, Inc. (LIME) Stock Price & How to Invest

Lime, legally Neutron Holdings, Inc., rents electric scooters and e-bikes by the minute through its own app and through partner apps including Uber. Riders unlock a vehicle parked on a city street, take a short trip (typically a mile or two), and end the ride in a permitted area. Lime operates in roughly 230 cities across 29 countries, served about 19 million riders in 2025, and holds around 27% share of docked and dockless shared micromobility worldwide. Revenue is essentially the sum of many small rides, so the economics come down to how many vehicles are on the street, how often each one is ridden, and what it costs to charge, repair, and rebalance them. Lime discloses revenue per vehicle per day (about $8.20 in the second quarter of 2026) as its core unit measure, and the average operational fleet reached roughly 408,000 vehicles, up 22% year over year.

The investment picture is a turnaround that reached the public market. Revenue went from about $521 million in 2023 to $686.6 million in 2024 to $886.7 million in 2025, and trailing twelve-month revenue is now around $986 million after a record second quarter of $304 million. Lime came into the IPO carrying roughly $845 million of debt maturing in 2026, including convertible notes and a $115 million term loan that Uber had guaranteed, and management says the offering let it clear its outstanding long-term debt; it ended June with about $339 million of cash and restricted cash and roughly $682 million of positive stockholders' equity. At about $37.66 a share the market cap is near $2.41 billion, or roughly 2.4x trailing sales and about 7.5x the midpoint of 2026 adjusted EBITDA guidance on an enterprise basis. The reported trailing net income of about $210 million is not what it looks like: most of it is a one-time $298.4 million non-cash tax benefit from releasing a valuation allowance, while second-quarter GAAP operating profit was $12.8 million on $304 million of revenue.

Seasonality is the number the guidance turns on. First-half revenue was $474.4 million against full-year guidance of $1.04 billion to $1.10 billion, and third-quarter guidance of $340 million to $360 million leaves an implied fourth quarter of roughly $230 million to $265 million, well below the summer peak. First-half adjusted EBITDA was only $91.7 million against a full-year target of $265 million to $285 million, so almost the entire year's profit has to arrive in the second half, and a cold or wet autumn in the northern hemisphere is a real revenue variable rather than a rounding error. Adjusted EBITDA also excludes the depreciation of a 400,000-unit vehicle fleet, which is a genuine recurring cost in an asset-heavy model: second-quarter GAAP operating profit was $12.8 million, a 4% margin, against the 27.7% adjusted figure. Regulatory permission is not owned, it is granted, and cities can cap fleet sizes, retender routes, or ban operators outright, as several have. Insider lockups from the July 1 IPO run about 160 days for directors, officers and key holders (with a separate staggered arrangement for Uber), so a large block of the roughly 64 million shares outstanding becomes sellable around late 2026 against a small current float. Finally, hardware is manufactured abroad and exposed to tariffs and supply chains, and rider injury claims are an ongoing liability in a business that puts vehicles on public streets.

7 analysts publish price targets on LIME, averaging $39.43 against a $37.66 price as of August 2026, or +4.7%. The published targets run from $36.00 to $45.00, a narrow spread, and the ratings split 8 buy, 0 hold, 0 sell. Over the last six months there has been 1 raise and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full LIME forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Neutron Holdings, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. The competitive field thinned out before Lime listed. The 2018 to 2022 scooter boom ended with Bird in bankruptcy and a penny-stock merger, Spin sold to Tier, and Voi and Dott combining in Europe. The most optimistic published target, $45.00, assumes this works close to its best case.

The case against. Seasonality is the number the guidance turns on. The most pessimistic target, $36.00, is roughly what LIME is worth if this bites instead.

Read the full bull and bear case on LIME, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Neutron Holdings, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$986M
• Q2 2026 revenue: ~$304M, up ~24% year over year
• Q2 2026 adjusted EBITDA: ~$84M (~28% margin); GAAP operating profit ~$13M
• Market cap: ~$2.41B (~2.4x trailing sales)
• Cash and debt: ~$339M cash and restricted cash, long-term debt paid down after the IPO
• 2026 guidance: revenue ~$1.04B to ~$1.10B, adjusted EBITDA ~$265M to ~$285M, capex ~$180M to ~$185M

The headline trailing PE near 5x is misleading, because roughly $298 million of the ~$210 million trailing net income comes from a single non-cash tax benefit (the release of a deferred tax valuation allowance) rather than operations. The multiples that describe the business are about 2.4x trailing sales and, netting out cash, roughly 7.5x the midpoint of 2026 adjusted EBITDA guidance. Whether that is cheap depends on how much of adjusted EBITDA survives the depreciation of a fleet that has to be replaced on a multi-year cycle, and on the ~$180 million of annual capex it takes to keep that fleet on the street.

Other names that sit close to LIME: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get LIME exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so LIME sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where LIME fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

LIME is a newly public, category-leading micromobility operator with genuine scale and positive adjusted EBITDA, but the depreciation-heavy fleet model, a seasonally thin fourth quarter, and an insider lockup expiry later in 2026 are what a valuation near 2.4x sales has to absorb.

Whether LIME is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is LIME a buy or a sell?, and where the stock could go from here in the LIME stock forecast.

For income investors, whether LIME pays a dividend and how the payout looks is covered in does LIME pay a dividend? And to weigh LIME against a peer, read the full side-by-side comparisons: LIME vs BEAM and LIME vs LYFT.