Electric scooter company Lime, backed by Uber, submitted its U.S. initial public offering paperwork on Friday, aiming to trade on Nasdaq with the ticker symbol “LIME” in what represents the first significant micromobility public market debut in eight years.
The San Francisco-headquartered firm generated $887 million in 2025 revenue, representing a 29% increase from the prior year, potentially signaling a recovery for an industry that witnessed Bird’s bankruptcy filing in 2023.
Key Takeaways
- Lime revenue surged 29% to $887 million in 2025
- Company posted positive free cash flow for third consecutive year
- Goldman Sachs and JPMorgan leading the IPO syndicate
Market Context and Financial Performance
The IPO filing arrives during a period when the public offering market has recovered following an earlier downturn this year attributed to Middle East tensions and unstable equity markets 1. Lime’s financial metrics present a sharp contrast to its challenged competitors—Bird entered Chapter 11 bankruptcy proceedings in December 2023, while Tier consolidated with Dott following workforce reductions of 22%.
Trading under the corporate name Neutron Holdings Inc., Lime recorded a net loss of $59.3 million against revenue of $886.7 million in 2025, versus a net loss of $33.9 million on $686.6 million in revenue during the prior year 2. While losses expanded, the company maintained positive free cash flow for its second straight full year.
Strategic Positioning and Market Reach
Lime currently maintains operations across roughly 280 cities spanning 30 countries, accommodating over 24 million riders during 2024 3. The enterprise has distinguished itself from unsuccessful rivals by emphasizing municipal partnerships and fleet ownership instead of depending exclusively on venture capital financing.
A notable competitive advantage stems from Lime’s partnership with Uber’s platform, which now features Lime services across more than 55 cities worldwide. Uber made an investment in Lime at a $510 million post-money valuation in 2020 while transferring its Jump bike-and-scooter operations to the company.
Management Vision and Growth Strategy
Chief Executive Wayne Ting, who has guided the company since May 2020, indicated the offering would support operational funding and debt reduction 1. “Lime’s mission is to build a future where transportation is shared, affordable and carbon-free,” the company stated in its filing.
Goldman Sachs and J.P. Morgan are serving as lead book-running managers, with Jefferies as book-running manager. Additional bookrunners include Evercore ISI, Citizens Capital Markets, KeyBanc Capital Markets, Needham & Company, and William Blair.
Industry Outlook and Investor Considerations
This filing marks the first major urban-mobility IPO effort since 2018, when Bird and other micromobility operators secured significant valuations before the sector’s subsequent difficulties. Banking sources familiar with the process have pointed to a target valuation in the $4-5 billion range, though official terms remain undisclosed 4.
Lime’s capacity to showcase viable unit economics and regulatory stability may determine whether micromobility returns to public market discussions or continues serving as a warning for growth-oriented investors.
Not investment advice. For informational purposes only.
References
1Reuters (May 8, 2026). “Uber-backed Lime reveals revenue surge in US IPO filing”. Yahoo Finance. Retrieved May 8, 2026.
2Jordan Fitzgerald (May 8, 2026). “Uber-Backed Electric Scooter Rental Firm Lime Files for IPO”. Bloomberg. Retrieved May 8, 2026.
3Allison Steffens Herrera (May 8, 2026). “Lime files for a Nasdaq IPO under the LIME ticker, the first big micromobility test in eight years”. The Next Web. Retrieved May 8, 2026.
4Business Wire (May 8, 2026). “Lime Files Registration Statement for Proposed Initial Public Offering”. Morningstar. Retrieved May 8, 2026.