After five years of public-market flirtation, Lime has officially filed for an initial public offering. The Uber-backed micromobility company, incorporated as Neutron Holdings Inc., submitted its S-1 registration statement to the SEC on Friday and intends to list on the Nasdaq under the ticker symbol "LIME."
The filing reveals a business that has scaled rapidly while narrowing its losses. Revenue grew from $521 million in 2023 to $686.6 million in 2024, then jumped again to $886.7 million in 2025. Net losses, meanwhile, shrank from $122.3 million in 2023 to $33.9 million in 2024, before ticking up slightly to $59.3 million last year. More encouraging for investors, Lime has generated positive free cash flow for three consecutive years, hitting $104 million in 2025—nearly double the prior-year figure.
Founded in 2017, Lime operates electric bikes and scooters in 230 cities across 29 countries. Its reach was amplified in 2020 when Uber led a $170 million funding round and Lime acquired Jump, Uber's own bike and scooter division. Today, Lime vehicles appear as a ride option inside the Uber app in nearly all shared markets, a partnership that drove roughly 14.3 percent of Lime's 2025 revenue.
CEO Wayne Ting has long argued that Lime possessed the unit economics, growth trajectory, and profitability profile to be a public company. What was missing, he told TechCrunch in 2023, was simply the right market window. With the S-1 now filed, that window appears to have opened.
Lime did not disclose the size or pricing of the offering, leaving those details for a later amendment. The company also faces lingering questions about regulatory caps on scooter deployments in major cities and the seasonal volatility that comes with outdoor transportation.
Why it matters
Lime's IPO is a litmus test for micromobility as a standalone public investment. Previous entrants in the space burned through cash and retreated; Lime is betting that disciplined expansion, Uber distribution, and a clear route to profitability will write a different ending. For startup founders and venture investors, the offering will set valuation benchmarks across the shared-mobility ecosystem.