Electric scooter and bicycle rental company Lime has officially moved forward with plans to become a publicly traded business after filing for an initial public offering with the US Securities and Exchange Commission. The company, formally known as Neutron Holdings, had previously hinted at ambitions to enter the stock market as far back as 2021.

Founded in 2017, Lime rapidly expanded its short-term scooter and e-bike rental services across major cities worldwide, attracting support from large investors including Uber. Its bright green vehicles have become a familiar sight in urban centres, although the company has also faced criticism over scooters being left scattered across footpaths and public spaces.

Financial documents submitted as part of the IPO filing revealed strong revenue growth over recent years. Lime generated approximately A$801 million in revenue during 2023 before increasing to around A$1.06 billion in 2024. Revenue climbed again in 2025 to roughly A$1.37 billion as demand for micromobility services continued to rise.

Photo by Lime

The company said it was operating in nearly 230 cities across 29 countries by the end of last year. Chief executive Wayne Ting also highlighted a major milestone in a letter attached to the filing, confirming Lime surpassed one billion total trips during 2025.

Despite the rapid expansion and growing revenue, Lime continues to struggle with profitability. The filing showed the company recorded net losses of around A$91 million during 2025. Financial pressure has continued into 2026, with Lime reporting a further A$94 million in losses during the first quarter alone.

The IPO paperwork also warned potential investors about several risks linked to the business. Lime acknowledged its long-running history of financial losses and admitted there is no certainty the company will achieve or maintain profitability in the future.

The wider micromobility industry has faced similar difficulties in recent years. Rival company Bird previously went public but later filed for bankruptcy in 2023 after failing to build a sustainable business model.

Featured photo by Lime