Lime plans to boost scooter and bike fleets in its current U.S. markets

Lime announced that its growth focus will be on deepening service in the about 60 U.S. cities where it already runs, adding more scooters and bikes to improve availability. CEO Wayne Ting linked this approach to boosting rider frequency and supporting the LimePass subscription, which offers discounted per-minute rates. In its inaugural quarterly earnings release, Lime said revenue grew 24% to $304 million and net income reached $295 million, reflecting benefits from its July IPO.

The company’s monthly active users rose 22% to exceed five million for the first time. Ting described Lime as “AI-resilient” but noted the firm employs a machine-learning algorithm to allocate vehicles based on demand, enhancing both reliability and profitability. Shares edged up about 2% in after-hours trading following the report.