The shared power travel company Lime formally entered the open market after several delays, with an updated estimate of approximately $16.6 billion. For this company, listing is not only about financing, but also about whether it can prove that its business has stabilized after continuous business shuffles.
You're still under pressure until you're on the market.
Lime had indicated in a stock call filed in May that there were “significant doubts” about the company's sustainability. As disclosed by the company, some $1 billion of the liability needs to be mitigated through IPO fund-raising, more than half of which will expire before the end of the year, and some of the debt could be converted into equity.
The company ' s management had mentioned the listing plan on several previous occasions but had not advanced. CEO Wayne Ting stated that management wished to demonstrate to the market that Lime already had a self-sustaining, profitable and free-flowing business capacity before choosing to enter the capital market.
Three-year increase.
In terms of financial performance, Lime ' s income has continued to rise in recent years. The company received $521 million in 2023, rising to $686.6 million in 2024 and further to $886.7 million in 2025, indicating that its operations were still expanding.
- Net loss in 2023 $122.3 million
- Net loss decreased to $33.9 million in 2024
- Net loss recovered to $59.3 million in 2025
By company calibre, when items such as depreciation are excluded, the adjusted gross profit in 2025 exceeds $400 million. Although the losses had not yet been fully offset, the financial position had improved significantly compared with previous years.
Industry shuffles and expands.
Over the past few years, the micro-movement industry has experienced a major shock. Bird filed for bankruptcy protection and reorganization after listing, while the other competitors were merged, discharged or closed. By contrast, Lime continues to expand its coverage, reaching 29 countries and 230 cities.
However, the company still relies on Uber. Uber holds 24 per cent of Lime shares and provides Lime car reservation services in some municipalities through its own applications. In 2025, income from Uber represented more than 14 per cent of the total income received by Lime.
Ting indicated that Lime has gradually built more sustainable business models over the past few years by lowering the cost of bicycles and using software and machine learning to optimize city operations. Companies also believe that the new funds available on the market will be used for expansion and technical inputs and will help to increase the confidence of urban regulators in their long-term capacity to cooperate.