Lime begins life as a public company after years of uncertainty

Key Points:

• Lime raised $167 million in its IPO by selling 6.68 million shares at $25 each, with shares trading on Nasdaq under the ticker "LIME" and rising about 9% in the first hour, valuing the company at approximately $1.66 billion.
• The company, backed by Uber which owns 24%, went public after demonstrating three consecutive years of free cash flow positive results, aiming to prove its durability compared to competitors like Bird.
• Lime faces significant financial pressure, needing IPO proceeds to address around $1 billion in liabilities, over half due by the end of the year, and expressed doubts about continuing as a going concern without the IPO.
• Despite industry challenges, Lime has grown revenue from $521 million in 2023 to $886.7 million in 2025, while trimming losses and expanding operations to 230 cities in 29 countries, leveraging software and machine learning for efficiency.
• CEO Wayne Ting expects being public will provide capital for growth, improve partnerships with cities seeking stable operators, and amplify Lime’s competitive advantages in the micromobility market.