After years of hints and preparation, Uber-backed electric bike and scooter rental startup Lime has filed for an initial public offering.
The company, incorporated as Neutron Holdings, Inc., has been eyeing 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 finances, growth and profitability to take the startup. All that was required was the right market conditions.
That day has apparently arrived.
The company plans to list on the Nasdaq under the symbol “LIME.” Lime didn’t share the terms of the offer, which it was filed Friday with the US 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 over the past two years. Lime reported net losses of $33.9 million in 2024 and $59.3 million in 2025. Lime also reported that it had free cash flow for the past three years. Its free cash flow was $104 million in 2025, nearly double the previous year due to an increase in cash provided by operating activities.
And yet, the company has significant debt. Lime reported about $1 billion in current liabilities in the filing. About $846 million of that is due by the end of 2026, and the company wrote that it does not have “sufficient liquidity” to pay it. (Lime reported that it had $261 million in cash as of 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 capital to pay that debt — or find other sources of financing.
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Founded in 2017, Lime 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 in 2018 for about $200 million. After the acquisition, Jump’s name disappeared and its assets were absorbed by Lime. Over the years, Lime has become more closely integrated with Uber.
The acquisition also spurred 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 tailwind for the business. As part of its exclusive relationship, Lime vehicles are featured as a ride option on the Uber app in nearly all of its shared markets. A portion of Lime’s revenue — about 14.3 percent last year — came from its partnership with Uber, the SEC filing shows.
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