Lime, the electric bike and scooter rental company backed by Uber, has officially filed for an initial public offering. The company, incorporated as Neutron Holdings Inc., submitted its S-1 registration statement with the U.S. Securities and Exchange Commission on Friday, marking a significant milestone for the micromobility sector. Lime intends to list on the Nasdaq under the ticker symbol “LIME.” The company did not disclose the terms of the offering, including the number of shares or expected price range.
A Long-Awaited Public Debut
Lime has been signaling its intention to go public for at least five years. CEO Wayne Ting told TechCrunch in 2023 that the company had the economics, growth trajectory, and profitability profile necessary to take the startup public, but was waiting for the right market conditions. That moment has apparently arrived. The filing reveals a company with strong revenue growth but persistent net losses. Lime generated $521 million in revenue in 2023, $686.6 million in 2024, and $886.7 million in 2025. Net losses narrowed from $122.3 million in 2023 to $33.9 million in 2024, before widening slightly to $59.3 million in 2025. The company reported positive free cash flow for the past three years, reaching $104 million in 2025—nearly double the previous year—driven by an increase in cash provided by operating activities.
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Deep Ties to Uber
Lime’s relationship with Uber is central to its business model. The ride-hailing giant led Lime’s $170 million funding round in 2020. As part of that deal, Lime acquired Jump, Uber’s electric bike and scooter division, which Uber had purchased for around $200 million in 2018. After the acquisition, Jump’s branding was phased out and its assets were absorbed into Lime. Since then, the two companies have integrated more closely. Under an exclusive partnership, Lime vehicles are featured as a ride option within the Uber app in nearly all of their shared markets. According to the SEC filing, approximately 14.3% of Lime’s revenue in 2025 came through its partnership with Uber.
Expansion and Market Reach
The acquisition of Jump also accelerated Lime’s geographic expansion. The company now operates in 230 cities across 29 countries. Its app-based rental model allows users to unlock and ride electric scooters and e-bikes, paying by the minute. Lime competes with other micromobility operators such as Bird, Spin, and Veo, but its deep integration with Uber gives it a unique distribution advantage. The IPO filing underscores the growing maturity of the micromobility industry, which has faced challenges including regulatory hurdles, vehicle durability, and profitability concerns. Lime’s ability to generate positive free cash flow while still reporting net losses reflects the capital-intensive nature of the business.
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What the IPO Means for the Industry
Lime’s public listing is a bellwether for the broader micromobility sector. If successful, it could pave the way for other shared mobility companies to pursue public offerings. Investors will be watching closely to see whether Lime can sustain its revenue growth trajectory and achieve consistent profitability. The company’s reliance on Uber for a significant portion of its revenue also raises questions about dependency risk. However, the partnership has provided a steady tailwind, and Lime’s expanding global footprint suggests it is not solely reliant on its relationship with Uber. The IPO also comes at a time when urban transportation is evolving rapidly, with cities around the world seeking sustainable alternatives to cars. Electric scooters and e-bikes offer a low-carbon, space-efficient mode of transport for short trips, and Lime has positioned itself as a leader in this space.
Conclusion
Lime’s IPO filing represents a decisive moment for the micromobility industry. The company has demonstrated strong revenue growth and positive free cash flow, though it remains unprofitable. Its deep integration with Uber provides a competitive edge, but also introduces concentration risk. The public markets will now decide whether Lime’s business model can deliver long-term value. The offering is expected to proceed in the coming months, subject to market conditions and SEC review.
FAQs
Q1: When will Lime’s IPO price be announced?
The IPO price and share count have not yet been disclosed. Lime filed its S-1 confidentially and will release pricing details closer to the listing date, which is expected in the coming months.
Q2: Is Lime profitable?
No. Lime reported net losses of $33.9 million in 2024 and $59.3 million in 2025. However, it has generated positive free cash flow for the past three years, reaching $104 million in 2025.
Q3: How does Lime’s partnership with Uber work?
Lime vehicles are available as a ride option within the Uber app in nearly all markets where both companies operate. Approximately 14.3% of Lime’s 2025 revenue came through this partnership.
