Neutron Holdings, the parent company of Lime, launched its initial public offering roadshow on Monday with shares priced between $24 and $26 per share, targeting a valuation of approximately $1.8 billion at the midpoint of the range.
The San Francisco-based electric bike and scooter rental company plans to offer approximately 6.7 million shares and expects to raise roughly $200 million from the offering, according to multiple sources tracking the IPO.
Lime reported $886.7 million in revenue for 2025, a 29 percent increase from $686.6 million the prior year, demonstrating sustained growth in the micromobility sector. The company operates across 230 cities globally and has achieved positive free cash flow for three consecutive years, according to its IPO filing.
Uber’s Continued Backing Signals Confidence
Uber Technologies plans to serve as an anchor investor in the IPO, according to reports from The Information and other sources tracking the deal. Uber holds more than 10 percent of Lime and has maintained a deep relationship with the company dating back to 2020.
In May 2020, Uber led a $170 million funding round in Lime and transferred its own electric bike and scooter division, Jump, to the company as part of the transaction. Jump had been acquired by Uber in April 2018 for approximately $200 million. The integration consolidated Lime’s position as the dominant player in shared micromobility.
Goldman Sachs and JPMorgan are serving as lead underwriters for the offering, which will trade on the Nasdaq under the ticker symbol LIME.
Growth and Financial Challenges
Lime’s revenue growth reflects broader expansion in the micromobility market, which is projected to grow at a compound annual growth rate of 12.7 percent through 2034, according to market research data. The company has expanded aggressively in international markets, with its UK subsidiary reporting £111.3 million in revenue for 2024, a 75 percent year-over-year increase.
The company faces significant debt obligations, with approximately $846 million due within 12 months, according to its SEC filing. The IPO proceeds will help Lime refinance this debt and strengthen its balance sheet as it pursues profitability at scale.
Sources
- GuruFocus — Confirmed IPO roadshow launch with $24–$26 price range and $1.8 billion valuation at midpoint
- The Information — Reported Uber’s role as anchor investor in the IPO
- Quartz — Detailed share count and fundraising target of approximately $200 million
- TechCrunch — Covered Lime’s IPO filing, Uber’s 2020 $170 million investment, and Jump acquisition details
- Reuters — Confirmed 2025 revenue of $886.7 million and 29 percent growth rate
- Micromobility Industries — Reported Lime’s 230-city global footprint and 2025 financial metrics
- Morningstar — Documented debt obligations and going-concern disclosures in IPO filing
- Zag Daily — Reported UK revenue surge of 75 percent for 2024
