Lime targets $1.66 billion valuation in Nasdaq IPO

Lime targets a $1.66 billion valuation in its Nasdaq IPO, seeking to raise over $180 million as it expands its electric bike business.

"Lime has built a global micromobility network, but the path to sustained profitability remains uncertain given the capital-intensive nature of fleet operations," said Tom Brennan, an IPO and M&A analyst at Edgen. "The company's reliance on Uber for roughly 15 percent of revenue also raises questions about customer concentration risk."

The San Francisco-based company plans to offer 6.96 million shares at $24 to $26 apiece, with underwriters holding a 30-day option to buy an additional 1.04 million shares. Lime reported revenue of $886.7 million in 2025, up 29 percent from $686.6 million in 2024, but posted a net loss of $59.3 million — widening from a $33.9 million loss the prior year. The company has powered more than 1 billion rides across 230 cities in 29 countries.

The IPO will test investor appetite for shared micromobility, a sector that has struggled with high fleet costs and city permit restrictions. Lime's electric bike segment could benefit from a global e-bike market projected to grow from $65.8 billion in 2026 to $193.2 billion by 2034, according to Fortune Business Insights. Uber Technologies Inc., which invested in Lime starting in 2018 and transferred its own scooter division to the company in 2020, has committed to buying $20 million of shares in the offering. The ride-hailing giant accounted for 14.3 percent of Lime's revenue in 2025.

This article is for informational purposes only and does not constitute investment advice.