Lime surpasses 150 million total rides, over $600 million in gross bookings in 2023
Lime boosts Adjusted EBITDA to over $90 million in 2023, an increase of more than 500% year-over-year
Lime continues to lead the pursuit of shared, affordable, carbon-free travel in cities, while building toward long-term sustainability
San Francisco, CA (April 8, 2024) – Lime, a leading global provider of shared electric vehicles, achieved a consecutive record year in gross bookings, Adjusted EBITDA1 and total rides, building on Lime’s record-setting 2022. The year reflected Lime’s continued emergence in the shared electric vehicle industry and positions it for long-term sustainability. Lime provides shared e-bikes and e-scooters in 280 cities in nearly 30 countries as it continues its mission to decarbonize transportation globally and serve as an alternative to car trips. Lime looks forward to building on this success by continuing to invest in its services to its home city of San Francisco, a key part of its leadership in the pursuit of building a sustainable business in the field of shared, affordable, and carbon-free travel in cities.
Lime is proud to have never wavered in its service to San Francisco, even as other shared electric vehicle providers have pulled out of the city. Lime has doubled down on providing residents and visitors with a safe, affordable, and sustainable transportation option and has kept its headquarters up and running downtown. Serving a complex city like San Francisco requires significant investment, which Lime has been proud to provide over the years in both its hardware and on its employees, creating jobs and supporting the city’s post-pandemic economic recovery. Lime looks forward to its ongoing leadership in terms of financial stability allowing it to continue investing in its services in San Francisco.
“Lime is proud to have doubled down on serving San Francisco when other shared electric vehicle providers left the city. We have worked closely with the SFMTA and community leaders to show that micromobility remains a key part of how the city can meet its equity and climate goals, using e-scooters as a first and last-mile transit option. We look forward to continuing our work with the city of San Francisco to ensure our shared e-scooters continue to connect our neighbors to public transit, to jobs, and to events and small businesses, supporting the city’s post-pandemic economic recovery while working towards our goal of decarbonizing transportation,” said Charlie Mastoloni, Senior Manager of Government Relations at Lime.
Key San Francisco highlights include:
- Since Lime launched in October 2019, 600,000 riders have taken over 3 million rides on Lime e-scooters.
- Lime riders have traveled over 6.2 million miles and have shifted an estimated 750,000 trips away from cars.
- By shifting trips away from cars, Lime riders have saved an estimated 330 metric tons of carbon emissions and an estimated 40,000 gallons of gas.
Key global 2023 highlights include:
- Gross Bookings record of $616 million, a 32% increase over 2022
- Full-year positive EBITDA, and Adjusted EBITDA in excess of $90 million, a more-than 500% increase over 2022
- Completed a record 156 million trips in 2023 (about 5 trips every second for the entire year), while surpassing 500 million lifetime trips
- More than 42 cities saw trips double year over year
- 9.2 million new riders took their first Lime ride in 2023,
- Over 3.1 million monthly riders active on average, with a peak surpassing 4.3 million in July
- Won over 90% of competitive permits
“Last year marked a watershed moment for Lime and the shared electric vehicle industry,” said Wayne Ting, CEO of Lime. “We achieved significant growth in our gross bookings and Adjusted EBITDA. This is a strong affirmation that our team is building a resilient business capable of achieving our long-term mission. More riders took more rides on our e-bikes and e-scooters than ever before. I’m also heartened by cities’ continued embrace of our zero-emission, two wheeled transportation options as solutions to poor air quality, crippling congestion, inequitable transit services and the existential threat of climate change. On the heels of another record setting year, Lime is poised to continue our growth in 2024, with new vehicle options and plans for expansion to new cities.”
Lime achieved this breakthrough as a result of its vertically-integrated approach across three key areas: hardware development, software-enabled operations and local government relations. Keeping these core functions in-house enables Lime to deliver a differentiated experience for its riders and city partners. The outcome is a reliable, convenient and comparatively-affordable transportation service.
Lime’s ability to drive significant financial growth is a major step forward in achieving its mission to build a future where transportation is shared, affordable and carbon-free. As Lime continues to prove the viability of operating shared bikes and scooters as a business, this milestone unlocks opportunities to consider what comes next. To continue toward its mission in 2024, Lime plans to explore new cities and business lines, expand AI-integrations into its business, launch a new vehicle type, and deepen its presence in existing cities.
Extending Lime’s social and environmental impacts in 2023
Lime’s steadfast commitment to the local communities it serves is exemplified through its community impact work. Lime’s impact extends beyond its short-term rentals to address critical issues in cities around the world. These include improving equitable access to affordable and sustainable transportation via its reduced-price Lime Access program; removing barriers to voting via its Lime to the Polls initiative to support local democracy; and supporting dozens of local community partners and service organizations globally through its round-up donation program, Lime Hero. In 2023, Lime provided more than four million community impact rides across these three programs, a 45% increase over 2022.
Additionally, Lime continued to make strides in reducing its Scope 1, 2 and 3 carbon emissions in 2023, achieving a 37% reduction from its 2019 baseline. Lime became the first shared electric vehicle company to set a Net Zero carbon target by 2030, and have it independently validated by the Science Based Targets Initiative. In pursuit of this target, Lime surpassed 50% of its operational vans being converted to electric vans and e-cargo bikes in 2023. As a validation of its progress, Lime also pioneered a new pathway for micromobility through the rigorous California Low Carbon Fuel Standard in 2023.
About Lime
Lime’s mission is to build a future where transportation is shared, electric and carbon-free. As a leading global provider of shared electric vehicles, Lime partners with cities to deploy electric bikes and scooters to serve any trip under five miles. A Time Magazine 100 Most Influential Companies and Fast Company Brand that Matters, Lime has powered more than 500 million rides in more than 280 cities across five continents, spurring a new generation of clean alternatives to car ownership.
