Share micromobility operator Lime reported a sharp rise in its UK revenues for 2024, reflecting strong demand for e-bikes, especially in London.

Strong UK Financial Performance

Lime’s UK subsidiary recorded £111.3 million in revenue for 2024, an increase of 75% year over year and nearly six times higher than in 2022. The UK accounted for about 20% of Lime’s global net revenue of $686 million (approximately £542 million), underscoring its position as one of the company’s most important international markets.

Net profit declined slightly to £1.25 million from £1.71 million in 2023. Lime’s current assets rose from £17.8 million to £24.9 million, driven largely by an increase in cash reserves from £6.8 million to £16 million. Amounts owed to the company fell from £7.5 million to £4.6 million, suggesting improved receivables collection. Current liabilities rose from £28.1 million to £43.4 million, mostly short-term obligations to group undertakings, resulting in net current liabilities of £18.4 million. Total equity stood at £3.6 million at year-end.

Expense Breakdown and Workforce

Reseller fees represented the largest share of Lime UK’s operating costs in 2024 at 46%, followed by operational expenses at 25.7%. The company employed an average of 39 people, including directors.

Global Context

Lime’s global business recorded $810 million in gross bookings and $686 million in net revenue in 2024, both up more than 30 percent year over year, marking its fourth consecutive year of double-digit growth. Adjusted EBITDA reached over $140 million, up 49 percent from 2023, with margins above 20 percent. The company also remained free-cash-flow positive for the second consecutive year.

Against this backdrop, the UK continues to be a key contributor to Lime’s overall performance, alongside other strong European markets such as France and Germany.

Market Developments in the UK

Lime currently operates in six UK cities: London, Bristol, Manchester, Milton Keynes, Oxford, and Nottingham. Within London, the company’s e-bikes are available across 17 boroughs, giving it the largest footprint of any shared operator in the capital.

Not all developments went Lime’s way in 2024. Hounslow Council ended its two-year e-bike trial and awarded the new contract to Forest and Voi, citing the need for stricter parking enforcement and improved affordability. CEO Wayne Ting reaffirmed Lime’s ambition to expand to all 33 London boroughs in the near future.

£20 Million Commitment to London

To strengthen its presence in the capital, Lime has launched a £20 million London Action Plan aimed at tackling parking challenges and improving operational efficiency. Of the total investment, £5 million is allocated to building more than 2,500 new parking bays, while £13.4 million will go toward hiring new staff and enhancing fleet management systems. The remaining funds will support technology upgrades, rider safety programs, and community cycling initiatives.

By September 2025, Lime had already installed 930 additional e-bike parking bays, bringing the total to 3,250, a 40 percent increase since January. The company is also inviting local businesses to convert unused outdoor areas into parking zones, covering all implementation costs itself.