Lime begins life as a public company after years of uncertainty

Amid the chaos, Lime has managed to improve its revenue over the last few years. It generated $521 million in 2023, $686.6 million in 2024, and $886.7 million last year. The company also trimmed its losses from $122.3 million in 2023, to just $33.9 million in 2024, though that figure edged back up in 2025 to $59.3 million. (The company reported adjusted gross profit in 2025 of more than $400 million, when discounting costs like depreciation.)

That growth has come largely from Lime’s ability to scale globally. It now operates in 230 cities across 29 countries. But the company is also somewhat dependent on Uber, which owns 24% of Lime and accounted for more than 14% of its revenue last year. (Uber allows people to book Lime rides through its app in some cities.)

Ting said Lime’s focus on driving down unit costs and its ability to use software and machine learning to manage city-by-city operations are what helped Lime create a more financially sustainable business. And he said he only expects those advantages to improve now that Lime has access to the public markets.

“It’s more capital for us to invest in growth and expanding Lime, in investing back into our technology. I feel like a lot of the advantages that we have being the only skilled operator, the only profitable operator, is only going to amplify now that we’re public,” he said. “It’s a real game of inches business, and we’re constantly looking for this 1%, 2% improvement.”

Ting also said he believes being a public company will encourage more cities to partner with Lime.

“I know a lot of cities don’t like the fact that they sometimes would bring an operator into the market and that operator will go out of business in six to 12 months. They want a long-term sustainable partnership, and now that we’re public, our financials are available to any city regulator looking to decide who’s going to be a good long-term partner,” he said.

This story has been updated with information about Lime’s stock starting to trade and from an interview with CEO Wayne Ting.