Lime files for IPO after years-long road to public markets

Summary

Lime has filed for an IPO on the Nasdaq after years of preparation, showcasing strong revenue growth and sustained cash flow positivity, but also revealing large liabilities and a going-concern warning. The company relies on the IPO or alternative financing to address its debt due by year-end.

• Lime filed for an IPO to list on the Nasdaq under ticker RIME.
• Goldman Sachs and JP Morgan are among the underwriters.
• Revenue is up 70% over the last two years and the company has been cash flow positive for three years.
• Lime is still not profitable, though losses have decreased from 2023 levels.
• The company has about $1 billion in current liabilities, mostly due by year-end.
• Lime warns there is substantial doubt about its ability to continue as a going concern without IPO proceeds or other financing.
• Uber is a key strategic backer of Lime.