Lime Files for Nasdaq IPO to Clear Debt After $59.3 Million Loss

Context Lime, officially Neutron Holdings Inc., is backed by Uber and plans to list on Nasdaq with Goldman Sachs, J.P. Morgan, and Jefferies as underwriters. The company says IPO funds will repay all outstanding debt, support operations, and finance tech acquisitions. Lime has generated positive free cash flow for three straight years, even as its net loss widened.

Key Facts Revenue reached $886.7 million in 2025, up 29.1% year‑over‑year. Net loss totaled $59.3 million for the same period. Using the average enterprise‑value‑to‑revenue multiple of comparable mobility peers (~2.5), Lime’s 2025 revenue implies an implied market cap of roughly $2.2 billion. Bird’s stock fell about 90% after its 2021 SPAC debut, leading to bankruptcy and delisting by 2024.

What It Means The IPO reflects a liquidity‑driven strategy: Lime hopes public markets will provide the cash needed to eliminate debt and sustain growth, a path Bird failed to follow. Investors will weigh Lime’s revenue momentum against its persistent losses and the scooter sector’s volatile track record.

Watch for the IPO pricing range and underwriter roadshow commentary, which will signal investor appetite for Lime’s debt‑repayment plan and its path to profitability.