The electric bike and scooter rental network Lime is aiming for a market valuation of up to $1.66 billion in its upcoming US initial public offering (IPO). Capitalizing on a rebounding listings market, the company and certain selling shareholders plan to offer approximately 6.96 million shares priced between $24 and $26 each, targeting a maximum raise of $181.9 million.
The offering will serve as a crucial barometer for investor appetite in the micromobility sector, which is notorious for high operational costs, seasonal demand, and strict municipal regulatory hurdles.
Key Financials & Operational Footprint
Despite maintaining a massive global footprint, Lime’s path to profitability remains a work in progress. As of late 2025, the company’s metrics highlighted a mix of rapid scale and lingering capital costs:
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Global Reach: Operates in roughly 230 cities across 29 countries.
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Revenue (2025): $886.7 million, driven by strong growth over the last three years.
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Net Loss (2025): $59.3 million. The company has posted annual net losses every year since its inception in 2017.
Market Insight: “The valuation does not look excessive because Lime is already large, global, and cash-generative… However, the stock may still trade at a discount because the business is seasonal, regulated, asset-heavy, and exposed to city-level permit risk.” — Lukas Muehlbauer, IPOX Research Associate
Strategic Backing and Listing Details
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The Uber Connection: Uber, which led a pivotal funding round for Lime in 2020, remains a core backer. Led by former Uber executive Wayne Ting, Lime disclosed that Uber has indicated an interest in purchasing up to $20 million worth of shares in the IPO.
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Market Context: The broader US IPO market is showing signs of recovery. Issuers are pushing ahead with public debuts, buoyed by strong equity markets and blockbuster listings that have effectively shored up investor confidence following earlier geopolitical volatility.
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Ticker and Underwriters: Lime plans to list on the Nasdaq under the ticker symbol “LIME.” The offering is being steered by top-tier Wall Street underwriters, including Goldman Sachs, J.P. Morgan, and Jefferies.
