Electric bike and scooter rental company Lime has officially filed for an initial public offering, marking a significant milestone for the firm after years of preparation. The company, incorporated as Neutron Holdings Inc., intends to list on the Nasdaq exchange under the ticker symbol “LIME.” While the specific terms of the offering have not been disclosed, the filing with the U.S. Securities and Exchange Commission provides a detailed look at the company’s recent financial trajectory.

Lime has demonstrated consistent top-line growth, reporting $886.7 million in revenue for the most recent year, a steady climb from $521 million in 2023. Despite this expansion, the company has grappled with net losses, which reached $59.3 million in 2025. However, the firm has achieved positive free cash flow over the past three years, reaching $104 million in 2025, largely driven by improved operating activities.

Despite these operational improvements, the company faces a substantial debt burden, with approximately $1 billion in current liabilities. With roughly $846 million of that total due by the end of 2026 and only $261 million in cash reported as of March 31, Lime has acknowledged that it lacks sufficient liquidity to cover its upcoming obligations. The company explicitly warned investors that there is “substantial doubt” regarding its ability to continue as a going concern, highlighting the urgent need for the IPO to raise necessary capital.

Founded in 2017, Lime has maintained a close strategic relationship with Uber, which led a major funding round for the startup in 2020. This partnership has been instrumental to Lime’s growth, as its electric vehicles are integrated directly into the Uber app, accounting for approximately 14.3% of Lime’s total revenue last year. Currently operating in 230 cities across 29 countries, Lime is now looking to the public markets to stabilize its balance sheet and support its long-term operational goals.