Key Takeaways:
Uber-backed micromobility firm Lime filed for an initial public offering after boosting revenue 29% to $886.7 million in 2025, signaling growing investor confidence in the scooter and e-bike rental market despite the company's continued losses.
"We have the economics, the growth, and the profitability to take the startup public," Chief Executive Officer Wayne Ting told TechCrunch in 2023, indicating the company's long-held ambition for an IPO.
The San Francisco-based company, incorporated as Neutron Holdings Inc., has seen its net losses narrow from $122.3 million in 2023 to $59.3 million in 2025, while free cash flow nearly doubled to $104 million in the last year. The filing with the U.S. Securities and Exchange Commission did not disclose the number of shares to be offered or the proposed price range.
Lime's IPO will test the public market's appetite for a high-growth, yet unprofitable, tech company in the post-pandemic era. The offering's success could pave the way for other micromobility companies to go public, while a failure could signal a more challenging road ahead for the sector. The company's close ties to Uber, which holds a significant stake and accounts for over 14% of its revenue, will be a key factor for investors to watch.
Lime's journey to an IPO has been significantly shaped by its relationship with Uber. The ride-hailing giant led a $170 million funding round in 2020, which included Lime's acquisition of Uber's own micromobility division, Jump. This move not only eliminated a major competitor but also integrated Lime's services directly into the Uber app, providing a steady stream of revenue and user growth. In 2025, 14.3% of Lime's revenue came through its partnership with Uber.
Founded in 2017, Lime has expanded its footprint to approximately 230 cities in 29 countries. The company's revenue has grown steadily, from $521 million in 2023 to $886.7 million in 2025. While the company has not yet achieved profitability, its narrowing losses and positive free cash flow may be enough to convince investors of its long-term viability. The company intends to list on the Nasdaq Global Select Market under the symbol LIME.
This article is for informational purposes only and does not constitute investment advice.
