Uber-Backed Lime's $174M IPO Signals Micromobility Revival

Lime, an Uber-backed electric scooter and bike-sharing firm, has raised $174 million in its initial public offering, placing the company at approximately $1.6 billion in valuation. The IPO is a major milestone for both Lime and the broader micromobility sector, which has spent several years battling regulatory uncertainty, safety concerns, and investor scepticism.

Priced at $25 per share — the mid-point of its offering range — Lime sold 7 million shares. The stock opened above the offering price on its first day of trading on the Nasdaq, indicating a positive reception from institutional and retail investors alike.

A Strong Financial Turnaround

Lime reported $886.7 million in revenue for 2025, a 30% increase compared with the previous year. Although it posted a net loss of $59.3 million, the company noted that much of the loss was due to accounting adjustments related to convertible debt rather than its underlying operations.

On an adjusted EBITDA basis, Lime has been profitable for several consecutive quarters — a metric the company has emphasised as evidence of operational sustainability. The trajectory stands in contrast to its earlier years, when heavy losses and fleet abandonment in unprofitable cities raised serious questions about the business model.

Expanding Into New Markets

One of the company's latest initiatives is a pilot programme in Mexico City, where it hopes to tap into rising demand for sustainable transportation. Latin America represents one of micromobility's fastest-growing opportunity areas, with dense urban populations, warm climates, and growing middle classes driving adoption.

As more cities invest in cleaner transport options and seek ways to reduce traffic congestion, Lime believes there is significant room for further growth. The company operates in over 300 cities across 30 countries, with a fleet of more than 200,000 e-scooters and e-bikes.

What the IPO Signals for the Sector

Lime's successful listing reflects a changing investment climate, with investors showing renewed interest in companies that have demonstrated they can grow responsibly while improving their financial performance. Several peers — including Bolt and Tier in Europe — are watching the reception closely as they consider their own public market options.

With fresh capital from the IPO and demand for urban mobility solutions continuing to rise, Lime is focused on expanding its reach and strengthening its role in the future of cleaner transportation. The company has indicated it will use proceeds primarily for fleet expansion and technology investment.