FLYE

NEW YORK, April 21, 2026 /PRNewswire/ -- Fly-E Group, Inc. (Nasdaq: FLYE) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters, today announced its unaudited financial results for the third quarter and nine months of fiscal year 2026 ended December 31, 2025. Third Quarter of Fiscal Year 2026 Financial Summary Net revenues were $2.6 million, compared to $5.7 million in the same period last year. Gross profit was $1.0 million, compared to $2.6 million in the same period last year. Gross margin was 39.6%, compared to 45.1% in the same period last year. Net loss was $1.9 million, compared to $0.7 million in the same period last year. Basic and diluted losses per share were $1.18, compared to $2.78 in the same period last year. Mr. Zhou (Andy) Ou, Chief Executive Officer of Fly-E, commented, "During the third quarter of fiscal year 2026, we remained focused on executing our strategy and advancing initiatives to navigate a challenging environment with cautious consumer demand. We continued to strengthen our business mix and saw meaningful momentum in select areas. Net revenues were $2.6 million for the quarter. Wholesale revenue increased 153.4% to $1.8 million. Rental services revenue also increased 288.6% to $0.2 million, reflecting continued growth of our service offerings. Looking ahead, we remain committed to improving execution and governance, strengthening commercial relationships, and optimizing operations, with an aim to support long-term value creation. We appreciate the continued support of our shareholders, customers, and partners as we work through this period and position Fly-E for greater resilience over time." Third Quarter of Fiscal Year 2026 Financial Results Net Revenues Net revenues were $2.6 million in the third quarter of fiscal year 2026, a decrease of 53.3% from $5.7 million in the same period last year. The decrease in net revenues was primarily driven by decrease in quantity of EVs sold which dropped by 87% and as a result of reductions in selling prices to reduce aged inventory for the third quarter of fiscal year 2026. Retail sales revenue was $0.6 million in the third quarter of fiscal year 2026, a decrease of 86.8% from $4.9 million in the same period last year. Wholesale revenue was $1.8 million in the third qua...

NEW YORK, Dec. 18, 2025 /PRNewswire/ -- Fly-E Group, Inc. (Nasdaq: FLYE) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters, today announced its unaudited financial results for the second quarter and first half of fiscal year 2026 ended September 30, 2025. Second Quarter of Fiscal Year 2026 Financial Summary Net revenues were $3.9 million, compared to $6.8 million in the same period last year. Gross profit was $1.0 million, compared to $2.9 million in the same period last year. Gross margin was 25.0%, compared to 42.6% in the same period last year. Net loss was $1.8 million, compared to $1.1 million in the same period last year. Basic and diluted losses per share were $2.18, compared to $4.65 in the same period last year. Mr. Zhou (Andy) Ou, Chairman and Chief Executive Officer of Fly-E, commented, "We navigated the second quarter of fiscal year 2026 with discipline and focus, despite a challenging retail environment. Our wholesale business continued to demonstrate strong momentum as we strategically shift our focus to this segment, with wholesale revenue increasing 91.3% year-over-year to $1.7 million. In addition, our rental business achieved a gross margin of 79.8%, demonstrating the potential to be a key profitability driver. At the same time, total operating expenses declined by 51.0% compared to the same period last year, reflecting the impact of our cost-optimization measures and our more efficient operations. While market conditions remain dynamic, particularly within the retail E-Bike segment, we are encouraged by the early traction of our rental business, our improving operational efficiency, and the resilience of our wholesale channel. Looking ahead, we will stay focused on enhancing profitability, strengthening our product and service portfolio, and improving operational efficiency as we position Fly-E for sustainable long-term growth." Second Quarter of Fiscal Year 2026 Financial Results Net Revenues Net revenues were $3.9 million in the second quarter of fiscal year 2026, a decrease of 42.7% from $6.8 million in the same period last year. The decrease in net revenues was primarily driven by a decrease in average unit price of EVs, which dropped by 61% as a result of lowering the selling prices to reduce aged inventory fo...

NEW YORK, Aug. 19, 2025 /PRNewswire/ -- Fly-E Group, Inc. (Nasdaq: FLYE) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters, today announced its unaudited financial results for the first quarter of fiscal year 2026 ended June 30, 2025. First Quarter of Fiscal Year 2026 Financial Summary Net revenues were $5.3 million, compared to $7.9 million in the same period last year. Gross profit was $2.3 million, compared to $3.1 million in the same period last year. Gross margin was 42.4%, increased from 39.4% in the same period last year. Net loss was $2.0 million, compared to $0.20 million in the same period last year. Basic and diluted losses per share were $0.30, compared to $0.04 in the same period last year. Mr. Zhou (Andy) Ou, Chairman and Chief Executive Officer of Fly-E, commented, "In the first quarter of fiscal year 2026, we achieved meaningful progress in areas that support our long-term growth. Our wholesale revenue grew by 42.3% year-over-year, driven by the expansion of our dealer network, and our gross margin improved to 42.4%, supported by our rental services business, which achieved a gross margin of 79.8%. We believe our continuous optimization of our product and service portfolio, along with unwavering dedication to quality and safety, will help us navigate the challenging market environment as the industry responds to recent safety concerns. We plan to continue to focus on expanding our geographic presence, enhancing our product and service offerings, and upholding rigorous product safety standards, while pursuing opportunities to meet growing demand for eco-friendly mobility solutions. We are confident that these initiatives will lay a solid foundation for sustainable growth." First Quarter of Fiscal Year 2026 Financial Results Net Revenues Net revenues were $5.3 million in the first quarter of fiscal year 2026, a decrease of 32.3% from $7.9 million in the same period last year. The decrease in net revenues was primarily driven by a decrease in sales volume by 6,432 units, from 16,880 units in the first quarter of fiscal year 2025 to 10,448 units for the three months ended June 30, 2025 and the decreased average sales price of EV, which decreased by $93 per EV, from $1,053 in the three months ended June 30, 2024 to $960 in...

NEW YORK, July 15, 2025 /PRNewswire/ -- Fly-E Group, Inc. (Nasdaq: FLYE) ("Fly-E" or the "Company"), an electric vehicle company engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, and electric scooters, today announced its financial results for the fiscal year ended March 31, 2025. Fiscal Year 2025 Financial Summary Net revenues were $25.4 million in fiscal year 2025, compared to $32.2 million in fiscal year 2024. Gross profit was $10.5 million in fiscal year 2025, compared to $13.1 million in fiscal year 2024. Gross margin was 41.1% in fiscal year 2025, increased from 40.7% in fiscal year 2024. Net Loss was $5.3 million in fiscal year 2025, compared to net income of $1.9 million in fiscal year 2024. Basic and diluted losses per share were $1.10 in fiscal year 2025, compared to basic and diluted earnings per share of $0.43 in fiscal year 2024. Mr. Zhou (Andy) Ou, Chairman and Chief Executive Officer of Fly-E, remarked, "Fiscal year 2025 was a pivotal year for Fly-E as we navigated a complex and evolving market landscape. We achieved an improvement in gross margin to 41.1%, supported by cost reductions and more favorable pricing obtained from our suppliers, particularly in battery sourcing. We are positive about our growth prospects despite the dip in revenue caused by short-term external factors, as we have established solid reputation and continued to invest in marketing and product diversification. With a focus on innovation, we now offer a broad and growing product portfolio of over 100 models across E-motorcycles, E-bikes, and E-scooters. Our rental service, which is already active in New York City, Toronto, and Los Angeles, is gaining strong traction, and we are excited to extend it to Miami and other markets in the near future." Mr. Ou added, "Following our successful registered direct public offering in June 2025, we believe we are well-capitalized to invest in inventory, vehicle production, and working capital. Looking forward, we remain focused on improving product safety, expanding our geographic reach, and investing in digital platforms such as the Go Fly app to enhance the customer experience and operational visibility. We believe our continued investment in safety, service, and innovation will prepare Fly-E for sustained long-term growth." Fiscal Year 2025 Financial Results Net Revenues Net revenue...