Lime, an electric bike and scooter rental startup backed by Uber, has filed for an initial public offering (IPO) and plans to list on Nasdaq under the ticker “LIME.” CEO Wayne Ting indicated that the company has been preparing for this move for at least five years, highlighting Lime’s potential for growth and profitability, although it is currently not profitable.
The IPO filing revealed that Lime generated revenues of approximately $521 million in 2023, with projections of $686.6 million for 2024 and $886.7 million for 2025. Despite increasing revenue, Lime reported net losses of $122.3 million in 2023, though those losses have narrowed in subsequent years. As of March 31, 2026, Lime disclosed significant debt, with about $1 billion in current liabilities, raising concerns about its liquidity and ability to continue operations without going public or securing additional financing.
Founded in 2017 and closely tied to Uber, Lime expanded through its acquisition of Jump, a previous Uber asset. The integration with Uber not only helps to sustain Lime’s business but also represents a significant portion of its revenue, with 14.3% of its income coming from its partnership with Uber. Lime’s offerings are available in 230 cities across 29 countries.
Source link
