The company specializing in electric scooter and bike rentals, Lime, has submitted paperwork for an initial public offering. Formally called Neutron Holdings, the urban transport provider made the announcement to the U.S. Securities and Exchange Commission on Friday, following earlier hints of public listing plans from 2021.
Established in 2017, the service for temporary access to its distinctive green vehicles gained significant investment from entities such as Uber. In its disclosure to regulators, Lime disclosed annual income of $521 million for 2023, which rose to $686.6 million in 2024 and further to $886.7 million in 2025. By the close of 2025, the firm was active in about 230 urban areas spanning 29 nations. In a message included with the submission, Chief Executive Wayne Ting highlighted that the company had exceeded one billion rides that year.
Despite growth, Lime continues to operate at a deficit, and the public offering could provide needed capital. The documents reveal net shortfalls of $59.3 million for 2025, plus an additional $61.3 million in the opening three months of 2026. Potential shareholders are warned of hazards, such as the firm's track record of deficits and uncertainties around reaching or sustaining profits going forward. Rivals in the sector have struggled similarly, with Bird pursuing a public debut only to enter bankruptcy proceedings in 2023.