In a significant stride towards public markets, 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 preparation and anticipation.
Operating under the name Neutron Holdings Inc., Lime has been eyeing the IPO landscape for over five years. CEO Wayne Ting highlighted the company's readiness for this transition, emphasizing that Lime possesses the necessary economic strength, growth potential, and profitability metrics to embark on this public journey, contingent on favorable market conditions.
That moment appears to have arrived, as Lime plans to list on Nasdaq with the ticker symbol "LIME." While the company has not disclosed specific terms for the offering, it has submitted its filing to the U.S. Securities and Exchange Commission.
The IPO documentation reveals a company experiencing revenue growth, although it has yet to achieve profitability. In 2023, Lime reported revenues of $521 million, which increased to $686.6 million in 2024 and further to $886.7 million in 2025. Despite this upward trend, the company faced net losses of $122.3 million in 2023, although these losses have been decreasing over the past two years, with figures of $33.9 million in 2024 and $59.3 million in 2025. Notably, Lime has generated free cash flow for the past three years, culminating in $104 million in 2025, nearly doubling its cash flow from the previous year.
Founded in 2017, Lime has established strong ties with Uber, which led a $170 million funding round in 2020. This partnership allowed Lime to acquire Jump, Uber's electric bike and scooter division, enhancing Lime's service offerings. Over the years, Lime has integrated its operations more closely with Uber, further solidifying its market position.
As a result of this collaboration, Lime now operates in 230 cities across 29 countries, making it a prominent player in the micromobility sector. The partnership has proven beneficial, with approximately 14.3% of Lime's revenue last year stemming from its relationship with Uber, according to SEC filings.
As Lime prepares for its IPO, this development could herald a new era for micromobility solutions, potentially influencing urban transportation dynamics and encouraging further innovation in sustainable transit options.