Electric scooter company Lime, which has backing from Uber, submitted paperwork for a U.S. initial public offering on Friday, planning to trade on Nasdaq with the 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, signaling a possible 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 as public offerings have recovered following earlier disruptions this year caused by Middle East tensions and unstable equity markets 1. Lime’s financial standing contrasts sharply with competitors facing difficulties-Bird entered Chapter 11 bankruptcy proceedings in December 2023, while Tier combined operations 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 preceding year 2. While losses expanded, the company maintained positive free cash flow for its second complete year running.
Strategic Positioning and Market Reach
Currently, Lime maintains operations across roughly 280 cities spanning 30 countries, accommodating over 24 million riders throughout 2024 3. The company has distinguished itself from unsuccessful rivals by emphasizing municipal partnerships and maintaining direct fleet ownership instead of depending exclusively on venture capital.
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 assumed leadership in May 2020, indicated the public 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 public offering attempt since 2018, when Bird and other micromobility operators secured significant valuations before the industry’s later 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 decide whether micromobility returns to public market discussions or continues serving as a warning for growth-focused 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.