Lime, the electric bike and scooter rental company, successfully priced its initial public offering on Nasdaq at $25 per share. This was the midpoint of its marketed range of $24 to $26, and the company sold 6.68 million shares, raising a total of $167 million. This IPO marks a significant event for the micromobility sector, with shares expected to trade under the ticker LIME.
The pricing of $25 per share gives Lime a valuation between approximately $1.66 billion and $1.8 billion. This valuation is a substantial recovery from its pandemic-era low of $510 million in 2020, although it remains below its 2019 private valuation of $2.4 billion. Uber, a key investor that owns over 10% of Lime, played an anchoring role in the offering and plans to purchase up to $20 million in shares, reinforcing its commitment to the micromobility company.
Financially, Lime reported strong revenue growth, reaching $886.7 million in 2025, a nearly 30% increase from $686.6 million in 2024. However, the company is not yet profitable, with its net loss widening to $59.3 million in 2025, up from $33.9 million the previous year. This indicates that while revenue is scaling, the company continues to bleed cash. Despite these losses, monthly active users have grown by over 20% year-on-year, showing increasing rider numbers.
The IPO was underwritten by Goldman Sachs, JPMorgan, and Jefferies. The market is now effectively pricing Lime as a mature, high-revenue operator, rather than a hypergrowth startup. This offering is seen as a crucial test for the micromobility industry, as Lime aims to demonstrate that rising ridership can translate into consistent profit amidst operational challenges and regulatory hurdles. The company, formerly known as Neutron Holdings, had previously disclosed a significant debt load and potential liquidity shortfall, making this IPO critical for its financial stability.
Uber's continued involvement and the integration of Lime's services into the Uber app have provided a vital distribution channel, feeding demand from Uber's existing rider base. This strategic partnership has been instrumental in Lime's recovery and growth. The successful IPO, despite Lime's lack of profitability, highlights investor appetite for exposure to urban mobility, albeit with an understanding of the high operating costs and regulatory challenges inherent in the business.
