Lime Files for Nasdaq IPO as Neutron Holdings Inc. Seeks Public Markets
The Uber-backed company intends to list under the ticker symbol "LIME" following five years of preparation and operational expansion across 29 countries.
Lime, the Uber-backed micromobility operator incorporated as Neutron Holdings Inc., has officially filed for an initial public offering with the U.S. Securities and Exchange Commission. The company intends to list on Nasdaq under the ticker symbol "LIME", marking a significant step in its transition from a private startup to a public entity after at least five years of preparation.
While the specific terms of the offering were not disclosed in the filing, the document highlights Lime's growing revenue base. The company reported revenue of $886.7 million for 2025, a substantial increase from $521 million in 2023. This growth has occurred alongside a narrowing of net losses, which fell from $122.3 million in 2023 to $59.3 million in 2025.
Despite the reduction in losses, Lime has not yet achieved profitability. However, the filing confirms that the business has generated positive free cash flow for three consecutive years. In 2025, free cash flow reached $104 million, a figure that is nearly double the amount reported the previous year, driven by an increase in cash provided by operating activities.
Founded in 2017, Lime operates on a significant global scale, maintaining a presence in 230 cities across 29 countries. The company's operational footprint was bolstered by its acquisition of Jump, Uber's electric bike and scooter division, in 2020. This deal, which was part of a $170 million funding round led by Uber, allowed Lime to absorb Jump's assets and integrate them into its own platform.
The relationship with Uber remains a critical component of Lime's financial model. Under an exclusive partnership, Lime vehicles are featured as a ride option within the Uber app in nearly all shared markets. This integration contributed approximately 14.3 per cent of Lime's revenue last year, serving as a steady tailwind for the business since the two entities deepened their ties following the 2020 acquisition.
CEO Wayne Ting had previously indicated in 2023 that Lime possessed the necessary economics and growth to go public, pending proper market conditions. With the filing now submitted to the SEC, the company moves forward with its public listing plans, aiming to capitalise on its expanding infrastructure and established market position.
