Uber-backed micromobility company Lime files for IPO

After years of tips and preparations, 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 focused on the public markets for at least five years. When CEO Wayne Ting last spoke to TechCrunch about the prospect of an IPO, he noted that at the time, Lime had the economics, growth potential, and profitability to take the startup public. All that was needed was the right market environment.

It looks like that day has come.

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

According to Lime’s IPO filing, the company is not yet profitable, although its revenue is increasing. The company generated revenue of $521 million in 2023, $686.6 million in 2024, and $886.7 million last year.

Net losses in 2023 were $122.3 million, but those losses have narrowed over the past two years. Lime reported a net loss of $33.9 million in 2024 and a net loss of $59.3 million in 2025. Lime also reported having free cash flow for the past three years. Free cash flow in 2025 was $104 million, nearly double the prior year’s increase due to increased cash provided by operating activities.

Despite this, the company has a large amount of debt. Lime reported approximately $1 billion in current liabilities in its filing. About $846 million of that amount is due by the end of 2026, but the company wrote that it does not have “sufficient liquidity” to pay it. (Lime reported having $261 million in cash as of March 31, 2026.) As a result, the company warned investors that there were “significant questions” about its ability to continue as a going concern and that it would need to go public or find other sources of financing to raise money to pay its debt.

Lime was founded in 2017 and 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, whose electric bike and scooter division was acquired by Uber in 2018 for about $200 million. After the acquisition, the Jump name disappeared and its assets were absorbed by Lime. Since then, Lime has integrated more closely with Uber.

The acquisition also propelled Lime’s expansion. The company allows users to rent scooters and electric bikes through its app, and is currently present in 230 cities in 29 countries.

Lime’s relationship with Uber also provides a steady boost for the business. Based on our exclusive relationship, Lime vehicles are featured as a ride option within the Uber app in nearly every shared market. According to SEC documents, the bulk of Lime’s revenue (about 14.3% last year) came from its partnership with Uber.