Electric bike and scooter rental company Lime has filed for an initial public offering after years of preparing for a public market debut, with the company seeking new funding as it manages growing liabilities and continuing losses.
The company, formally incorporated as Neutron Holdings, Inc., plans to list on the Nasdaq stock exchange under the ticker symbol “LIME.”
Lime submitted its filing to the U.S. Securities and Exchange Commission on Friday but did not disclose pricing terms for the offering.
The IPO filing provides a detailed look at Lime’s financial performance as the company expands globally across shared electric transportation services.
Revenue Continues Rising
According to the filing, Lime generated $521 million in revenue during 2023.
Revenue increased to $686.6 million in 2024 before reaching $886.7 million last year.
Despite the revenue growth, the company has not yet achieved profitability.
Lime reported net losses of $122.3 million in 2023, improving to $33.9 million in 2024 before widening again to $59.3 million in 2025.
The company also reported positive free cash flow over the past three years.
Free cash flow reached $104 million in 2025, nearly doubling from the prior year due to increased cash generated from operating activities.
Debt Creates Financial Pressure
The filing also highlighted substantial debt obligations facing the company.
Lime reported approximately $1 billion in current liabilities.
Of that amount, roughly $846 million becomes due within the next 12 months, while about $675.8 million is due by the end of 2026.
The company disclosed that it does not currently have enough liquidity to meet those obligations.
As of March 31, 2026, Lime reported holding approximately $261 million in cash.
The filing warned investors that there is “substantial doubt” about the company’s ability to continue operating without raising additional financing through the IPO or alternative funding sources.
Uber Relationship Remains Central
Lime was founded in 2017 and maintains close ties with Uber Technologies.
Uber led Lime’s $170 million funding round in 2020.
As part of that agreement, Lime acquired Jump, Uber’s electric bike and scooter division that Uber had originally purchased in 2018 for around $200 million.
Following the acquisition, Jump’s operations and assets were integrated into Lime’s platform.
The company now operates in 230 cities across 29 countries.
Lime’s partnership with Uber continues contributing significantly to the business.
Under an exclusive arrangement, Lime scooters and e-bikes are integrated into the Uber app in nearly all shared markets.
According to the SEC filing, approximately 14.3% of Lime’s revenue last year came through its partnership with Uber.
Wayne Ting previously told TechCrunch in 2023 that Lime already had the growth, profitability trends, and financial structure needed for a public listing, pending favorable market conditions.
Featured image credits: Flickr
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