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Bike Share Toronto will deploy more electric bikes and docks this year as revenue “is scaling faster than costs.” The Toronto Parking Authority (TPA), which manages the program, revealed those details in its 2025 Business Review and 2026 Annual Operating Plan presentation to the TPA board of directors on Wednesday.That presentation stated e-bikes are driving a “positive shift” within the network, improving customer experience and accessibility.And despite operating at a financial loss for years, revenue growth will keep pace with cost pressures this year, given that Bike Share is forecasting 8.6 million rides, it detailed.“Total ridership is expected to increase 0.79M (10 per cent) led by e-bikes,” the presentation reads.“Electrification is driving incremental demand faster than the system average.” Story continues below advertisement View image in full screen Bike Share Toronto users are seen riding in a green bike lane on Davenport Road in Toronto, Sept. 22, 2024. Rachel Verbin/The Canadian Press Bike Share Toronto began as Bixi Toronto in 2011, with 1,000 bicycles available from 80 locations primarily in the downtown core.The TPA took over the program in 2014, giving it its current name and expanding it into a citywide network.Bike share users can access the system by either using the mobile application or purchasing passes at a physical station. Pass options include pay-as-you-go, day trips or annual memberships, which include a certain number of unlimited-minute rides.Ridership has soared annually over the past five years. In 2020, 2.9 million rides were logged. By 2024, that figure sat at 6.9 million, staff said in the 2024 Cycling Year in Review report. Get breaking National news Get breaking Canada news delivered to your inbox as it happens so you won't miss a trending story. Sign up for breaking National newsletter Get Started By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy. The TPA revealed Wednesday that 7.8 million rides occurred last year – 231,000 of them involving first-time riders, a 39 per cent increase from 2024. Story continues below advertisement “Revenue is scaling faster than costs – driven by favourable mix (27 per cent casual trips; 19 per cent e-bike trips),” it said, adding that 2025 actual revenue was $17.1 million — $2.3 million more than forecasted. Total expenses came in at $20 million — $400,000 more than anticipated. 2:14 Toronto Council approves budget during tame session Nearly eight per cent of that total revenue came from Bike Share Toronto’s deployment on the Toronto Island. Between May 16 and Oct. 15, the 250 bikes and four docking stations installed there generated 216,256 trips and $1.4 million in revenue.However, e-bike demand is exceeding supply; only 20 per cent of the total bike fleet is electric.The authority has said electrification is key for future growth. Last December, it said it would need $41.7 million over five years for e-bike fleet expansion, e-charging docking points, station densification and supporting digital infrastructure. Story continues below advertisement To begin executing on that, the authority said in its presentation that it’s planning to deploy 1,250 solar docks, 350 electric docks, 200 new e-bikes and 750 traditional bikes. It is also planning on bringing in 100 next-generation e-bikes and installing 1,500 pillar docking points to minimize mis-docking.Jarrett McDonald, vice-president of operations with the Toronto Parking Authority, told the board Wednesday that the authority is prototyping the e-bike with its supplier, and Bike Share Toronto is one of the first programs in the world to get them. 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Currently, users on the bike share mobile app can see if an e-bike is available but not its battery status; it’s only when they arrive at the bike that they are able to find out if its battery is charged enough to undock. Story continues below advertisement Bike Share Toronto also revealed last December that it would be creating a “sustainable funding model” through new revenue streams as part of its new five-year plan.Those streams could include a loyalty program, feature upsells, advanced reservations, strategic partnerships, sponsorships and fare integration.Wednesday’s presentation said staff have begun targeted market testing and research regarding reservations and are working “in close alignment” with the TPA’s Green P loyalty program to drive integration, among other measures.Bike Share Toronto is also looking at capitalizing on the city’s busy summer schedule, and is planning special promotions around Toronto Tech Week, the FIFA World Cup and Canada Day, among others.“Where available, we will make the opportunity to expand faster and work harder on the electrification factor,” McDonald said.“Right now, what you see is a conservative outline.”