Lime, the company that rents out electric scooters and bicycles in partnership with Uber, has filed for an initial public offering on Nasdaq. Formally registered as Neutron Holdings, it will trade under the ticker "LIME." It's the moment CEO Wayne Ting announced back in 2023 - but waited for the market to open.

The numbers Lime put in the prospectus show a company that's finally getting its profit model under control. Revenue grew from 521 million dollars in 2023 to 686 million in 2024, and reached 886 million in 2025 - nearly doubling in two years. Free cash flow for 2025 is 104 million dollars.

The losses are shrinking, but they haven't disappeared. From 122 million dollars in net loss in 2023 to 33.9 million in 2024 - but then jumped back up to 59.3 million in 2025. Total debt is around 1 billion dollars, with 261 million in cash. The real test of the IPO will be whether investors pay up for growth or start demanding profitability.

Lime operates in 230 cities across 29 countries, including major European capitals - Paris, Berlin, Madrid, London. They've had an integrated partnership with Uber since 2020, when Lime bought the bike company Jump from Uber through a financing round worth 170 million dollars. Lime rides show up inside the Uber app, and Uber takes 14.3 percent of Lime's revenue in shared markets.

For the Balkan cities, the question is different. Lime's scooters don't exist in Skopje, Belgrade or Zagreb. The market here is smaller, the regulation is half-baked, and bike infrastructure barely exists - it's hard to run a service when half the road is a pothole. But the IPO means Lime will be hunting for new markets to feed the shareholders. Maybe the Balkans will find themselves on that map - the question is whether the cities here are ready, or whether it'll be just another scooter on the grass.