Key Partners
- City governments — each city sets fleet caps, parking rules and permit fees; Lime added 19 new cities in 2025 and says 116% operational fleet retention shows caps are growing in existing cities (FACT).
- Uber — Lime is in the Uber app in nearly all its shared markets; the agreement was renewed in May 2025 through 2028 and Uber can terminate it in certain circumstances (FACT).
- Vehicle and parts suppliers — hardware and components come from a limited number of third parties; tariffs and memory-chip prices are named as risks (FACT).
- Logistics providers and contingent workers — they charge, repair and reposition the fleet, and labor classification rules in places like France, Spain and Switzerland are a stated risk (FACT).
- Lenders and investors — the 10% term loan was repaid after the IPO and a new $200.0M revolving facility has leverage and fixed-charge covenants starting Sep 30, 2026 (FACT).
Key Activities
- Design and R&D — R&D was $54.0M in 2025, including work on the new LimeGlider vehicle (FACT).
- Permitting and city relations — a dedicated government-relations team secures permits and fleet-cap expansions (FACT).
- Fleet operations — charging, battery swaps, repair, deployment and retrieval, done by employees, logistics providers and contingent workers (FACT).
- Pricing and fleet placement — data from the app and vehicle sensors guide where vehicles go and what plans to offer (FACT).
- Capital allocation — Lime bought $97.9M of vehicles in 2025 and $122.6M in H1 2026 (FACT).
Key Resources
- Fleet — 325,137 vehicles on average in 2025; 407,707 in Q2 2026 (FACT).
- Permits — each city caps fleet size; 116% fleet retention in 2025 (FACT).
- Technology — Rider App, Supply App and vehicle sensors (FACT).
- Scale — about 19M riders in 2025; 27% share, company estimate (FACT).
- Cash — $278.1M at Jun 30, 2026, plus a new $200.0M revolver (FACT).
Value Propositions
- No ownership — pay for a short ride and walk away; no parking, charging or repair (FACT).
- Pricing choices — pay as you go, minute bundles of 1 to 30 days, or the LimePrime monthly subscription (FACT).
- Fleet variety — scooters, bikes and seated scooters suit different trips and riders (FACT).
- City benefits — first- and last-mile access, less car congestion and zero tailpipe emissions (FACT, company claim).
- Compliance by design — geofenced parking and speed rules that follow local requirements (FACT).
Customer Relationships
- Start easy — Pay-As-You-Go needs no commitment, usually an unlock fee plus per-minute pricing (FACT).
- Move to bundles — minute packs expire in 1 to 30 days and cut the per-minute price (FACT).
- Subscribe — LimePrime gives unlimited unlocks, and a flat-rate version for rides up to 20 minutes began in Q1 2026 (FACT).
- Referrals and word of mouth — a key way new riders arrive (FACT).
- Support and safety — in-app tutorials and city-specific rules, plus customer service and trust and safety teams (FACT).
Channels
- Lime Rider App — unlock, ride, pay and buy bundles (FACT).
- Uber app — Lime appears as a ride option in nearly all shared markets; the integration agreement runs through 2028 (FACT).
- Street presence — vehicles on the street act as advertising (FACT).
- Pilot channels — corporate campuses, universities and delivery-courier passes (FACT, planned or pilot).
- Low marketing spend — about 2% of revenue in 2025 (FACT).
Customer Segments
- Routine riders — commuters, students and errand-runners who ride often (FACT).
- Casual riders and tourists — pay-as-you-go users who ride when visiting a city or attending an event (FACT).
- Uber app users — riders who find Lime through the Uber app (FACT).
- City governments — set permits, fleet caps and fees (FACT).
- Emerging groups — delivery couriers, corporate campuses and universities (FACT, pilot or planned).
Cost Structure
- Cost of revenue — $541.3M in 2025 (61% of revenue), up 33% (FACT).
- Selling, general and administrative — $169.5M in 2025; Q2 2026 rose 68% on stock compensation and public-company costs (FACT).
- Research and development — $54.0M in 2025 and $46.5M in H1 2026 (FACT).
- Vehicle purchases — $97.9M in 2025 and $122.6M in H1 2026, at about $1,300 per vehicle landed (FACT).
- Financing and non-cash items — interest expense of $20.6M in 2025, plus a $125.0M non-cash loss on the fair value of the 2021 convertible notes inside 'other expense' (FACT).
Revenue Streams
- Pay-As-You-Go — 72% of 2025 revenue: unlock fee plus per-minute (FACT).
- LimePass — 28% of 2025 revenue: minute bundles and LimePrime subscriptions (FACT).
- Growth drivers — fleet +18%, monthly users +21%, revenue per vehicle per day +10% in 2025 (FACT).
- Mix by country — U.S. 32%, U.K. 22%, France 10% of 2025 revenue (FACT).
- Seasonality — Q1 and Q4 are weaker in the Northern Hemisphere; the prospectus warns against multiplying a quarter by four (FACT).