‘First in the micromobility industry’ – Lime announces its first fully profitable year

Shared micromobility brand Lime has announced its first fully profitable year of operation, which it says makes it the first in the micromobility industry to reach this target.

The US-based shared transport provider recorded its best ever year in 2022, recording $466 million in gross bookings in 2022, a 33% increase from 2021.

Lime also reached an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $15 million, and was also profitable on an unadjusted EBITDA basis.

Wayne Ting, CEO of Lime, said: “I’m proud and grateful that together with our riders and city partners, we delivered a record year for Lime and our effort to replace car trips with cleaner forms of transportation.

“It’s encouraging as we work to decarbonise transportation to see more than 20 percent year-over-year growth in gross bookings every quarter last year.”

Read more: Micromobility start-up Dance secures €12 million in funding 

“As countries globally are battling economic downturns, we continue to expand and see our shared e-bikes and e-scooters as not only part of the solution to the climate crisis, but also a more affordable and convenient option to cars,” said Ting. “We strive to provide riders and cities with the best shared electric vehicle experience out there and get closer to fulfilling our mission.” 

Key stats from Lime’s 2022 financial reporting include: 

• 2022 Gross Bookings record of $466 million, representing 33% year-over-year (YoY) growth
• 2022 Adjusted EBITDA of $15 million
• Lime was also profitable on an unadjusted EBITDA basis
• More than 20% YoY growth in gross bookings every quarter in 2022
• Completed nearly 120 million trips in 2022 (about 1 trip every 3 seconds for the entire year), bringing total rides to 400 million
• More than 35 markets doubled in trips YoY
• 1.5 million new riders Limed for the first time in 2022, with Lime’s monthly active riders surpassing the 4 million threshold for the first time
• Won over 90% of competitive permits 

Overall company stats:

• E-bikes and e-scooters available in more than 250 cities in nearly 30 countries

• 400 million rides

• 85 million car trips replaced

• 32,000 metric tons of CO2 avoided

• 425 million miles travelled

• 11 million litres of petrol saved