Lime, the world’s largest shared electric vehicle company, today reported strong financial and operational results for 2024, underscoring the company’s continued growth and market leadership in the global micromobility sector.
Lime’s unaudited financial highlights for 2024 show impressive growth across key metrics. The company recorded gross bookings of $810 million, a 31% increase compared to 2023, and net revenue of $686 million, reflecting a 32% growth year-over-year. Additionally, Lime posted a 49% increase in adjusted EBITDA, reaching more than $140 million compared to $94 million in 2023. The company’s adjusted EBITDA margin expanded by over 200 basis points, reaching more than 20%. For the second consecutive year, Lime achieved positive free cash flow, signaling the company’s operational and financial strength.
Wayne Ting, CEO of Lime, commented, “2024 was an exceptional year for Lime, with record financial results and continued global leadership. We grew profits faster than revenue, serving over 24 million riders across hundreds of communities worldwide. Our continued expansion into new cities and fleet growth highlights Lime’s position as the leading choice for cities aiming to reduce traffic congestion and meet carbon emission goals. With record demand in 2024, we are just scratching the surface of micromobility’s transformative potential.”
Key Operating Highlights for 2024
- Lime provided over 200 million rides, up 30% from 2023, averaging more than six rides per second.
- The company surpassed 750 million lifetime rides, demonstrating its deep market penetration.
- Lime secured over 90% of competitive permits to operate in top-tier cities.
- The company expanded into more than 20 new cities globally, including launches in Japan and Greece.
- Lime’s global fleet grew by nearly 20%, with over 270,000 vehicles now operating worldwide.
In 2024, Lime also bolstered its leadership team with strategic hires, including Chief Legal Officer Susie Giordano, who brings over 30 years of experience in capital markets and governance, and Chief Technology Officer Jon Jenkins, who previously led engineering at Pinterest and Amazon.
Ann Gugino, CFO of Lime, remarked, “In 2024, we invested for growth while simultaneously increasing profitability and positive free cash flow. We are exceeding the ‘rule of 40’ and remain focused on scaling our unit economics. With a strong roadmap and multiple growth opportunities ahead, Lime is well-positioned for continued success in 2025 and beyond.”
Environmental Impact and Sustainability
Lime’s commitment to sustainability remains at the core of its mission. In 2024, Lime riders avoided an estimated 20,000 metric tons of CO2 emissions, saved 2.2 million gallons of gas (8.5 million liters), and replaced more than 43 million car trips with two-wheeled, emissions-free rides. Lime also made significant strides in reducing its own carbon intensity, achieving a 59.5% reduction in carbon emissions from its 2019 baseline, and will release its 2024 carbon inventory later this spring.
As Lime continues to innovate and expand its global presence, the company is positioned for durable growth, transforming the future of urban mobility with affordable, shared, and carbon-free transportation solutions.
For further information, visit Lime’s official website.
