Lime achieves profitability

December 04, 2020
Last Updated:
December 04, 2020
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by Chad Goldberg
Very important

The scooter giant recently announced it had become the first micromobility company to become cash flow positive for a full quarter, signaling a key milestone for one of the early scooter pioneers and the industry as a whole. Lux sees the news as a validation that these new mobility solutions are in fact here to stay, a concern long held by skeptics and supporters alike. While the new financial stability will likely not alter current business models or strategies significantly, it will allow for easier reinvestment and further focus on optimizing the company's next-generation scooter, the Gen4, which boasts key features like a swappable battery, enhanced suspension, and tougher aluminum frame that intends to extend operating life. 

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