The electric scooter rental company Lime has filed for IPO
Source: Engadget
Background
Lime, the micromobility company known for its electric scooters and bicycles that are often dumped across city streets[¹], has filed for an initial public offering. The rental startup, officially named Neutron Holdings, filed with the U.S. Securities and Exchange Commission on Friday after teasing ambitions of going public back in 2021[²].
Founded in 2017, Lime quickly secured backing from major companies like Uber[³] and now operates its bright‑green scooters and bicycles in approximately 230 cities across 29 countries.
Financial performance
- 2023 revenue: $521 million
- 2024 revenue (projected): $686.6 million
- 2025 revenue (projected): $886.7 million
The company’s CEO, Wayne Ting, noted that Lime surpassed one billion trips in 2025 in the letter accompanying the IPO filing.
IPO filing
The filing reveals that Lime is still operating at a loss:
- Net loss in 2025: $59.3 million
- Net loss in Q1 2026: $61.3 million
Investors buying Lime’s common stock could face risk factors such as the company’s history of net losses and the uncertainty of achieving or maintaining profitability in the future.
Competition and profitability challenges
Lime’s competitors have struggled to become profitable. For example, Bird went public and later filed for bankruptcy in 2023[⁴].
References
[¹] https://www.engadget.com/transportation/lime-announces-25-million-action-plan-to-help-fix-londons-e-bike-chaos-141559309.html
[²] https://www.reuters.com/business/autos-transportation/e-scooter-startup-lime-raises-523-mln-eyes-going-public-2022-2021-11-05/
[³] https://www.engadget.com/uber-lime-investment-144314796.html
[⁴] https://www.engadget.com/bird-files-for-bankruptcy-after-going-public-in-2021-092905867.html