Lime unveiled its fourth-generation electric scooter with a swappable battery and enhanced safety features. The company also announced it was “cash flow positive” in the third quarter of 2020 — a sign that the scooter sharing giant is getting closer to becoming profitable for the first time.
In an appearance at The Wall Street Journal’s “Future of Everything” conference, Lime CEO Wayne Ting claimed to be the first mobility company to have a cash flow-positive quarter.
Being cash flow positive means Lime has more money going into the business at a given time than going out. But it’s not the same as having net income or being profitable after adjusting your earnings for interest and taxes, also known as EBIT. Lime expects to be…tech, The Verge