Micromobility provider Lime prepares for IPO

Lime has filed documents with the US stock exchange regulator SEC for an IPO. How many shares are to be issued at what price is still open. According to the Financial Times, a valuation of around 2 billion dollars is being sought. The company plans to list on the Nasdaq under the ticker “LIME”.

The company's revenue has grown significantly in recent years: from 522 million US dollars in 2023 to 687 million US dollars in 2024 and 887 million US dollars in 2025. Nevertheless, Lime remains unprofitable. The net loss was 122 million US dollars in 2023, 34 million US dollars in 2024, and 59 million US dollars in 2025.

In the SEC filings, Lime points out that it has recorded net losses every year since its founding and may not be able to achieve sustainable profitability. At the same time, the company expects rising expenses.

For Lime, the IPO is also a way to reduce financial pressure. At the end of March 2026, according to SEC filings, the company had 261 million US dollars in freely available cash. This is offset by payments due from bonds and loans of around 846 million US dollars within twelve months. Lime admits that it currently does not have enough liquidity for this. Without an IPO or other financing, “substantial doubt exists about the company's ability to continue.” The proceeds are to be used, among other things, to repay debt. Further funds are intended for operations, investments, and possible acquisitions.

Micromobility remains a risky business

Lime was founded in 2017 and rents out e-scooters and e-bikes for short distances. According to its statements, the San Francisco-based company is active in around 230 cities in 29 countries and had about 19 million riders in 2025. Lime is led by Wayne Ting, a former Uber executive.

The connection to Uber is also close beyond that: in 2020, Uber led a funding round of 170 million US dollars, during which Lime took over Uber's micromobility business Jump. According to SEC filings, Uber holds more than 5 percent of Lime. The partnership is also important operationally: Lime vehicles appear as a booking option in the Uber app in almost all joint markets. In 2025, around 14.3 percent of Lime's revenue came from bookings via this partnership.

Lime is aiming for an IPO in an industry that continues to be under pressure. In its SEC filings, the company describes the shared micromobility industry as young, fragmented, and heavily regulated. Operations often depend on municipal permits. In addition, there is price pressure and high costs for maintenance, replacement, theft, and vandalism. For investors, the question remains whether Lime can generate lasting profits from increasing revenues.

An IPO is anything but a guarantee of success. The case of Bird shows this: the former Lime rival went public in 2021 with a valuation of 2.3 billion US dollars but had to file for insolvency at the end of 2023 after high losses.

(dahe)