finance
Lime Files for Nasdaq IPO Under Ticker LIME
The Uber-backed micromobility company incorporated as Neutron Holdings, Inc. filed its S-1 with the U.S. Securities and Exchange Commission on Friday. Lime reported revenue growth to $886.7 million last year while posting positive free cash flow, yet flagged substantial doubt about its ability to continue as a going concern amid nearly $1 billion in current liabilities.
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U.S. Securities and Exchange Commission. , intends to list on Nasdaq under the ticker symbol LIME. Lime did not share terms of the offering in its filing.
Goldman Sachs and JPMorgan Chase are joint book-runners for the IPO. 7 million in 2025. 7 million in fiscal year 2025.
015 million in the same period a year earlier. Revenue grew 32% year-on-year in 2024 to $686 million. 3 million in 2025.
The company remains loss-making. Profit growth outpaced revenue growth in 2024 according to Lime’s own characterisation. Lime had positive free cash flow for the past three years and has posted positive free cash flow for three consecutive years.
Its free cash flow was $104 million in 2025, nearly doubled from the previous year. The company served more than 24 million riders in 2024. Lime reported around $1 billion in current liabilities. Roughly $846 million of Lime's liabilities is due within 12 months.
Lime reported having $261 million in cash on March 31, 2026. Lime stated it does not have sufficient liquidity to pay its debt due within 12 months.
The company warned it has substantial doubt that it can continue as a going concern. Lime said it needs to go public to raise funds to pay that debt or find other sources of financing. Founded in 2017, Lime was led into its latest chapter by Wayne Ting, who has been CEO since May 2020.
Wayne Ting is a former Uber executive. Uber led Lime’s $170 million funding round in 2020. As part of that deal, Lime acquired Uber’s Jump electric bike and scooter division, which Uber had bought in 2018 for around $200 million.
