Lime, the Uber-backed micromobility company, files for IPO

Lime, the electric bike and scooter rental company supported by Uber, has officially filed for an initial public offering (IPO). This move comes after years of speculation and strategic preparations, with the company aiming to enter the public market under the name Neutron Holdings Inc. CEO Wayne Ting previously discussed the potential for an IPO in 2023, highlighting that Lime was equipped with the necessary growth, economics, and profitability to make the leap to public trading. With favorable market conditions seemingly in place, the time has come for Lime to take this significant step. The company plans to list on Nasdaq with the ticker symbol "LIME." While the specifics of the offering remain undisclosed, the IPO filing submitted to the U.S. Securities and Exchange Commission reveals promising growth in revenue, although profitability is still on the horizon. In 2023, Lime reported revenues of $521 million, which increased to $686.6 million in 2024, and reached $886.7 million last year. However, the company faced net losses amounting to $122.3 million in 2023, though these figures have shown improvement over the past two years, with losses narrowing to $33.9 million in 2024 and $59.3 million in 2025. Lime has also achieved positive free cash flow for the past three years, boasting $104 million in 2025, nearly doubling from the previous year, thanks to a rise in operating cash. Founded in 2017, Lime has a strong partnership with Uber, which played a pivotal role in its growth by leading a $170 million funding round in 2020. This collaboration also involved Lime taking over Jump, Uber's electric bike and scooter division, enhancing Lime’s capabilities and market presence. Today, Lime operates in 230 cities across 29 countries, benefiting from its close ties to Uber. The exclusive partnership ensures that Lime vehicles are integrated into the Uber app as a ride option in most shared markets, with approximately 14.3% of Lime's revenue generated through this collaboration in the last year. As the company prepares for its IPO, all eyes will be on its ability to capitalize on its growth trajectory and expand further in the competitive micromobility landscape.