Lime, the shared electric vehicle company, has unveiled new global financial and ridership figures from the first half of 2023 that demonstrate demand for shared e-bikes and e-scooters continues to grow around the world.
In the first half of the year, Lime achieved more than $250 million in gross bookings, a 45% increase over the same period in 2022.
Lime also achieved positive Adjusted global EBITDA of $27 million during this period, the first time it has reached this milestone in the first half of any year to date, with a margin improvement of 29 percentage points. Lime also achieved positive EBITDA on an unadjusted basis during this period.
The H1 results highlight Lime’s continued momentum following a 2022 in which it achieved positive Adjusted EBITDA over the full year.
Wayne Ting, CEO of Lime, said: “Coming off a record year for Lime, we are proud to have achieved an acceleration in our strong performance in 2023.
“Riders around the world are demonstrating strong demand for low-cost, reliable and emissions-free transportation. We are encouraged that cities also recognise this as they continue to welcome and expand e-bike and e-scooter programs globally.
“Our year-over-year revenue growth and ability to operate profitably are strong signals for the long-term viability of Lime’s business. This record first half is a strong endorsement of our investments in in-house hardware design, operational excellence and cultivating strong relationships with cities.”
The company’s growth in 2023 is powered by its highest ever ridership in a single quarter, with more than 40 million trips taken globally in Q2 alone, besting its previous record quarter of Q3 in 2022.
This record ridership stems from Lime’s growth within existing markets and into new markets, leading to higher average trips-per-vehicle-per-day and improved supply and reliability for riders.
In London, Lime is seeing similar growth.
Riders have taken more than 12 million e-bike trips between January 2019 – March 2023 – with e-bike usage growing by an average of 10% each month as demand for shared micromobility grows.
As a result of more people choosing shared e-bikes, Lime trips have prevented more than one million motor vehicle trips in London, replacing an estimated 2.6 million car/taxi kms-travelled and approximately 370 tonnes of CO2 and 48kgs of particulate matter (PM2.5) savings.
In the UK outside of London, Lime is also seeing strong growth, with the business having recently achieved one million total rides in Milton Keynes where it has operated its shared e-scooter service since 2020.
It also successfully expanded its UK footprint in H1 2023, launching new shared e-bike schemes in both Nottingham and Derby.