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Lime, the Uber-backed micromobility company, files for IPO
Lime, backed by Uber, has filed for an IPO after years of planning, seeking to raise funds amid $1 billion in liabilities. Despite strong revenue growth, the company reported net losses and warns of liquidity issues. Lime plans to list on Nasdaq under 'LIME.'
Key points
- Lime, incorporated as Neutron Holdings Inc., has filed for an IPO after preparing for about five years.
- CEO Wayne Ting indicated the company has favorable growth conditions to go public, citing improved economics and profitability.
- The company generated $521 million in 2023, and revenue increased to $886.7 million in 2025, but net losses remain significant.
- Lime reported net losses of $122.3 million in 2023, narrowing to $59.3 million in 2025, yet has significant debt with around $1 billion in current liabilities.
- With only $261 million in cash as of March 31, 2026, Lime expressed 'substantial doubt' about ongoing operations without raising funds.
- Lime is deeply integrated with Uber, benefiting from revenue generated through their partnership, which accounted for about 14.3% of its revenue.
Why it matters
- The IPO comes amidst a wave of other tech companies seeking public offerings, reflecting investor interest in micromobility solutions as cities focus on sustainable transportation.
- Lime's financial struggles highlight broader concerns within the startup ecosystem about sustainability and profitability in gig economy businesses.
- In 2025, the trend of micromobility continued to grow, with a push for electric vehicles and eco-friendly transport options aligning with global sustainability goals.
Lime's IPO filing marks a significant step for the electric mobility sector, emphasizing the need for innovation in urban transport, while its financial challenges underline the critical balance between growth and sustainability in start-ups.