Uber-Backed Lime Files For IPO After 29% Revenue Growth In FY25

The electric bike and scooter operator backed by Uber Technologies (NYSE:UBER), Lime, filed for a U.S. initial public offering on Friday, disclosing 29.1% revenue growth to $886.7 million in fiscal year 2025, planning to list on Nasdaq under the ticker “LIME.”

IPO Amid Strong Revenue Growth

Founded in 2017 and led by former Uber executive Wayne Ting, Lime operates in roughly 230 cities across 29 countries and has posted positive free cash flow for three consecutive years. It remains loss-making.

Lime's revenue for the three months ended Mar. 31 was $170.15 million, up from $129.015 million in the same period a year earlier.

Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM), Jefferies (NYSE:JEF), Evercore Inc. (NYSE:EVR), Citizens Financial Group (NYSE:CFG), KeyCorp (NYSE:KEY), Needham & Company and William Blair are underwriters on the offering.

2026 Pipeline And Saturation Concerns

U.S. IPO activity has rebounded after a slowdown tied to volatile equity markets and the war in the Middle East, with several AI infrastructure providers, defense startups and biotech firms recently filing for listings.

A wave of high-profile IPOs is expected in 2026, with SpaceX, OpenAI, Anthropic and Databricks among the companies anticipated to go public, potentially adding trillions in market value.

However, venture capitalist Chamath Palihapitiya has warned that the IPO pipeline risks becoming overcrowded, saying "the risk is that diners will run out of space."

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