Lime and its financial backers had every intention of pulling off an initial public offering this year. But as the market for new stocks cratered, the e-scooter maker had little choice but to postpone those plans and focus on finally achieving profitability and fine-tuning its operations.
It's since accomplished that mission, seeing profits every month this year—at least by one measure (adjusted earnings before interest, taxes, depreciation, and amortization)—says Lime CEO Wayne Ting. Time will tell what the annual profit will show, given that usage drops in cold months like November and December.
