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

After years of hints and preparation, the Uber-backed electric bike and scooter rental startup Lime has filed for an initial public offering.

The company, which is incorporated as Neutron Holdings, Inc., has eyed the public markets for at least five years. CEO Wayne Ting last spoke to TechCrunch in 2023 about the prospect of an IPO, noting at the time that Lime had the economics, the growth, and the profitability to take the startup public. All that was required was proper market conditions.

That day has apparently arrived.

The company intends to list on ​Nasdaq under the ticker symbol “LIME.” Lime did not share terms of the offering, which was filed Friday with the U.S. Securities and Exchange Commission.

Lime’s IPO filing shows a company with growing revenue, but not yet profitability. The company generated $521 million in revenue in 2023, $686.6 million in 2024, and $886.7 million last year.

Its net losses were $122.3 million in 2023, but that line item has narrowed the past two years. Lime reported net losses of $33.9 million in 2024 and $59.3 million in 2025. Lime also reported it had free cash flow the past three years; its free cash flow was $104 million in 2025, nearly double from the previous year due to an increase in cash provided by operating activities.

And yet, the company has a significant amount of debt. Lime reported around $1 billion in current liabilities in the filing. Roughly $846 million of that is due 12 months from now. About $675.8 million is due by the end of 2026. The company wrote that it does not have “sufficient liquidity” to pay that. (Lime reported having $261 million in cash on March 31, 2026.) As a result, the company warned investors that it has “substantial doubt” that it can continue as a going concern, and that it needs to go public to raise funds to pay that debt — or find other sources of financing.

Lime, which was founded in 2017, has deep ties to Uber. The ride-hailing and delivery giant led Lime’s $170 million funding round in 2020. As part of that deal, Lime acquired Jump, the electric bike and scooter division that Uber bought back in 2018 for around $200 million. After the acquisition Jump’s name disappeared and its assets were absorbed by Lime. In the years since, Lime has integrated more closely with Uber.

The acquisition also propelled Lime’s expansion. The company, which lets users rent scooters and e-bikes through its app, is now in 230 cities and 29 countries.

Lime’s relationship with Uber has also been a steady tailwind for the business. Under its exclusive relationship, Lime vehicles are featured as a ride option within the Uber app in nearly all of its shared markets. A chunk of Lime’s revenue — about 14.3% last year — came through its partnership with Uber, the SEC document shows.