Press Release: Fly-E Group, Inc. Announces Second Quarter and First Half of Fiscal Year 2026 Financial Results

Dow Jones12-19

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 for the second quarter of fiscal year 2026.

Retail sales revenue was $2.0 million in the second quarter of fiscal year 2026, a decrease of 65.8% from $5.9 million in the same period last year. Wholesale revenue was $1.7 million in the second quarter of fiscal year 2026, an increase of 91.3% from $0.9 million in the same period last year. Rental services revenue was $0.2 million in the second quarter of fiscal year 2026. The Company did not generate revenue from rental services in the second quarter of fiscal year 2025. The decrease in retail sales revenue is mainly due to recent lithium-battery accidents involving E-Bikes and E-Scooters. With an increasing number of lithium-battery explosion incidents in New York, customers are less inclined to purchase E-Bikes. Consequently, sales have declined as customers opt for oil-powered vehicles over electric vehicles. The decrease in retail sales also attributed in part to the closures and disposition of the Company's retail stores during the second quarter of fiscal year 2026. The increase in wholesales revenue was driven primarily by revenue contribution from the disposed entities during the second quarter of fiscal year 2026. Although certain retail stores were sold, these stores continued to purchase products from the Company, which contributes an increase of wholesale revenue.

Cost of Revenues

Cost of revenues was $2.9 million in the second quarter of fiscal year 2026, a decrease of 25.2% from $3.9 million in the same period last year. The decrease in cost of revenues was primarily attributable to a reduction in sales volume.

Gross Profit

Gross profit was $1.0 million in the second quarter of fiscal year 2026, a decrease of 66.4% from $2.9 million in the same period last year. Gross margin was 25.0% in the second quarter of fiscal year 2026, decreased from 42.6% in the same period last year. The decrease in gross margin was mainly due to a combined effect of decrease in average unit price of EVs, which dropped by 61% for the second quarter of fiscal year 2026 and the increased revenues from rental business with higher margin than our other businesses. Gross margin of rental business was 79.8% in the second quarter of fiscal year 2026. The Company did not generate profit from rental services in the second quarter of fiscal year 2025.

Operating Expenses

Total operating expenses were $2.0 million in the second quarter of fiscal year 2026, a decrease of 51.0% from $4.1 million in the same period last year.

   -- Selling expenses were $1.0 million in the second quarter of fiscal year 
      2026, a decrease of 49.7% from $2.0 million in the same period last year. 
      Selling expenses primarily consist of payroll expenses, rent, and 
      advertising expenses of retail stores. Total payroll expenses were $0.6 
      million in the second quarter of fiscal year 2026, compared to $0.9 
      million in the same period last year. Rent was $0.3 million in the second 
      quarter of fiscal year 2026, compared to $0.8 million in the same period 
      last year. Advertising expenses were $15,457 in the second quarter of 
      fiscal year 2026, compared to $0.1 million in the same period last year. 
      The decrease in these expenses was primarily due to the closures and 
      dispositions of retail stores during this quarter. 
 
   -- General and administrative expenses were $1.0 million in the second 
      quarter of fiscal year 2026, a decrease of 52.4% from $2.1 million in the 
      same period last year. Professional fees decreased to $0.5 million in the 
      second quarter of fiscal year 2026, compared to $0.9 million in the same 
      period last year, primarily attributable to the decrease in audit fee, 
      consulting fee, legal fee and IR expenses associated with the Company's 
      public offering and ongoing reporting obligations. Payroll expenses 
      decreased to $0.1 million in the second quarter of fiscal year 2026 from 
      $0.4 million in the same period last year primarily due to decrease in 
      headcount of office assistants. Depreciation expense increased to $0.06 
      million in the second quarter of fiscal year 2026, compared to $0.04 
      million for the same period in prior year due to the increasing cost 
      basis of fixed assets. 

Net Loss

Net loss was $1.8 million in the second quarter of fiscal year 2026, an increase of 55.4% from $1.1 million in the same period last year.

Basic and Diluted Losses per Share

Basic and diluted losses per share were $2.18 in the second quarter of fiscal year 2026, compared to $4.65 in the same period last year.

EBITDA

EBITDA was negative $1.0 million in the second quarter of fiscal year 2026, compared to negative EBITDA of $1.2 million in the same period last year.

First Half of Fiscal Year 2026 Financial Results

Revenue

Net revenues were $9.2 million in the first half of fiscal year 2026, a decrease of 37.2%, from $14.7 million in the same period last year. The decrease in net revenues was driven primarily by a decrease in total units sold, which decreased by 2,924 units, from 31,936 units for first half of fiscal year 2025 to 29,012 units for the first half of fiscal year 2026, and as a result of lowering the selling prices to reduce aged inventory. From the first half of fiscal year 2025 to the first half of fiscal year 2026, while the number of units sold of certain other types of products increased, the quantities of motorcycles and batteries sold, which normally contribute significantly to revenues, decreased by 641 units and 5,332 units, respectively, thereby resulting in an overall decrease in the total number of units sold.

Retail sales revenue was $5.8 million in the first half of fiscal year 2026, a decrease of 54.7%, from $12.8 million in the same period last year. Wholesale revenue was $3.2 million in the first half of fiscal year 2026, an increase of 65.5% from $1.9 million in the same period last year. The decrease in retail sales revenue is mainly due to decrease in number of retail stores during the first half of fiscal year 2026. The increase in wholesales revenue was driven primarily by contributions from the disposed entities during the first half of fiscal year 2026. Although certain retail stores were sold, these stores continued to purchase products from the Company, which contributed to the increase of wholesale revenue.

Cost of Revenues

Cost of revenues was $6.0 million in the first half of fiscal year 2026, a decrease of 31.0%, from $8.7 million in the same period last year. The decrease in cost of revenues was primarily attributable to reduction in battery sales volume.

Gross Profit

Gross profit was $3.2 million in the first half of fiscal year 2026, a decrease of 46.1%, from $6.0 million in the same period last year. Gross margin was 35.1% in the first half of fiscal year 2026, decreased from 40.9% in the same period last year.

Operating Expenses

Total operating expenses were $5.8 million in the first half of fiscal year 2026, a decrease of 20.5%, from $7.3 million in the same period last year.

   -- Selling expenses were $2.3 million in the first half of fiscal year 2026, 
      a decrease of 35.7% from $3.7 million in the same period last year. 
      Selling expenses primarily consist of payroll expenses, rent, utilities 
      expenses, and advertising expenses of retail stores. Total payroll 
      expenses were $1.2 million in the first half of fiscal year 2026, 
      compared to $1.5 million in the same period last year. Rent expenses were 
      $0.7 million in the first half of fiscal year 2026, compared to $1.5 
      million in the same period last year. Utilities expenses were $81,468 in 
      the first half of fiscal year 2026, compared to $0.1 million in the same 
      period last year. Advertising expenses were $32,870 in the first half of 
      fiscal year 2026, compared to $0.2 million in the same period last year. 
      The decrease in these expenses was primarily due to the closures and 
      dispositions of retail stores in the first half of fiscal year 2026. 
 
   -- General and administrative expenses were $3.4 million for the first half 
      of fiscal year 2026, a decrease of 5.1% from $3.6 million in the same 
      period last year. Professional fees increased to $2.0 million in the 
      first half of fiscal year 2026, compared to $1.3 million in the same 
      period last year, primarily attributable to the increase in audit fee, 
      consulting fee, legal fee and IR expenses associated with the Company's 
      initial public offering and ongoing reporting obligations. Payroll 
      expenses decreased to $0.4 million in the first half of fiscal year 2026, 
      from $0.8 million in the same period las year primarily due to employees 
      terminated in operation and accounting departments. Insurance expenses 
      decreased to $0.3 million in the first half of fiscal year 2026, compared 
      to $0.5 million in the same period of prior year as a result of less 
      insurance policies purchased for closed stores during the first half of 
      fiscal year 2026. Software development fee decreased to $0.27 million in 
      the first half of fiscal year 2026, compared to $0.31 million in the same 
      period last year as a result of less maintenance services required for 
      Fly E-Bike app as a result of the closures and dispositions of retail 
      stores during the first half of fiscal year 2026. 

Net Loss

Net loss was $3.8 million in the first half of fiscal year 2026, an increase of 186.2% from $1.3 million in the same period last year.

Basic and Diluted Losses per Share

Basic and diluted losses per share were $6.58 in the first half of fiscal year 2026, compared to $5.60 in the same period last year.

EBITDA

EBITDA was negative $2.2 million in the first half of fiscal year 2026, compared to negative EBITDA of $1.1 million in the same period last year.

Financial Condition

As of September 30, 2025, the Company had cash of $2.5 million, increased from $0.8 million as of March 31, 2025.

About Fly-E Group, Inc.

Fly-E Group, Inc. is an electric vehicle company that is principally engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes and electric scooters under the brand "Fly E-Bike." The Company's commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately contributing towards building a more environmentally friendly future. For more information, please visit the Company's website: https://investors.flyebike.com.

Non-GAAP Financial Measures

To supplement the Company's financial information presented in accordance with the generally accepted accounting principles in the United States (the "U.S. GAAP"), management periodically uses certain "non-GAAP financial measures," as such term is defined under the rules of the SEC, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company's operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with U.S. GAAP. For example, non-GAAP measures may exclude the impact of certain items such as acquisitions, divestitures, gains, losses and impairments, or items outside of management's control. Management believes that the following non-GAAP financial measure provides investors and analysts useful insight into its financial position and operating performance. Any non-GAAP measure provided should be viewed in addition to, and not as an alternative to, the most directly comparable measure determined in accordance with U.S. GAAP. Further, the calculation of these non-GAAP financial measures may differ from the calculation of similarly titled financial measures presented by other companies and therefore may not be comparable among companies.

The Company uses EBITDA (earnings before interest, taxes, depreciation, and amortization) to evaluate its operating performance. The Company believes EBITDA provides additional insight into its underlying, ongoing operating performance and facilitates year-to-year comparisons by excluding the earnings impact of interest, tax, depreciation and amortization and that presenting EBITDA is more representative of its operational performance and may be more useful for investors.

The Company reconciles its non-GAAP financial measure to its net income, which is its most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. EBITDA includes adjustments for provision for income taxes, as applicable, interest income and expense, depreciation, and amortization. EBITDA does not represent and should not be considered an alternative to net income as determined by U.S. GAAP, and its calculations thereof may not be comparable to those reported by other companies. The Company believes EBITDA is an important measure of operating performance and provides useful information to investors because it highlights trends in its business that may not otherwise be apparent when relying solely on U.S. GAAP measures and because it eliminates items that have less bearing on its operating performance. EBITDA, as presented herein, is a supplemental measure of its performance that is not required by, or presented in accordance with, U.S. GAAP. The Company uses non-GAAP financial measures as supplements to its U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting its business. EBITDA is a measure of operating performance that is not defined by U.S. GAAP and should not be considered a substitute for net (loss) income as determined in accordance with U.S. GAAP.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and that the forward-looking statements contained in this press release are subject to the risks set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the section under "Risk Factors" of its most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2025, filed with the SEC on July 15, 2025, as amended by the Company's subsequent filings, including updates to the Risk Factors. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

For investor and media inquiries, please contact:

Fly-E Group, Inc.

Investor Relations Department

Email: ir@flyebike.com

Ascent Investor Relations LLC

Tina Xiao

Phone: +1-646-932-7242

Email: investors@ascent-ir.com

 
                          FLY-E GROUP, INC. 
 
           UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 
     (Expressed in U.S. dollars, except for the number of shares) 
 
                                         September 30,    March 31, 
                                              2025           2025 
                                        ---------------  ----------- 
ASSETS 
Current Assets 
Cash                                     $    2,538,076  $   840,102 
Accounts receivable, net                      1,474,637      466,187 
Accounts receivable, net -- a related 
 party                                           32,030       37,465 
Inventories, net                              6,548,287    6,397,274 
Prepayments and other receivables             5,923,496    3,676,986 
Prepayments and other 
 receivables -- related parties                 236,826      120,000 
Assets held for sale                                 --    2,462,502 
                                            -----------   ---------- 
Total Current Assets                         16,753,352   14,000,516 
Property and equipment, net                   6,826,815    7,287,213 
Security deposits                               518,908      728,450 
Deferred tax assets, net                        152,212       94,983 
Operating lease right-of-use assets           6,891,886   10,933,068 
Intangible assets, net                          486,581      525,865 
Long-term prepayment for software 
 development -- a related party                      --      136,580 
                                            -----------   ---------- 
Total Assets                             $   31,629,754  $33,706,675 
                                            -----------   ---------- 
 
LIABILITIES AND STOCKHOLDERS' EQUITY 
Current Liabilities 
Accounts payable                         $      550,249  $ 1,272,305 
Short-term loan payables                      5,532,230    5,191,058 
Current portion of long-term loan 
 payables                                       222,479      100,835 
Accrued expenses and other payables             484,236    1,366,968 
Accrued expenses and other payables 
-- related parties                                  225           -- 
Operating lease liabilities -- current        1,819,911    2,617,762 
Liabilities held for sale                            --    2,152,447 
                                            -----------   ---------- 
Total Current Liabilities                     8,609,330   12,701,375 
Long-term loan payables                       2,004,123    2,065,040 
Operating lease 
 liabilities -- non-current                   5,718,256    9,106,928 
                                            -----------   ---------- 
Total Liabilities                            16,331,709   23,873,343 
                                            -----------   ---------- 
 
Commitment and Contingencies 
 
Stockholders' Equity 
Preferred stock, $0.01 par value, 
10,000,000 shares authorized and nil 
outstanding as of September 30, 2025 
and March 31, 2025*                                  --           -- 
Common stock, $0.01 par value, 
 300,000,000 shares authorized and 
 1,632,351 shares outstanding as of 
 September 30, 2025 and 300,000,000 
 shares authorized and 245,875 shares 
 outstanding as of March 31, 2025*               16,324        2,459 
Additional paid-in capital                   27,826,643   10,987,440 
Shares subscription receivable              (7,816,556)    (219,998) 
Accumulated deficit                         (4,680,283)    (895,510) 
Accumulated other comprehensive loss           (48,083)     (41,059) 
                                            -----------   ---------- 
Total FLY-E Group, Inc. Stockholders' 
 Equity                                      15,298,045    9,833,332 
                                            -----------   ---------- 
Total Liabilities and Stockholders' 
 Equity                                  $   31,629,754  $33,706,675 
                                            -----------   ---------- 
 
*Shares and per share data are presented on a retroactive basis to 
reflect the 1-for-5 reverse stock split completed on July 3, 2025 and 
the 1-for-20 reverse stock split completed on November 4, 2025. 
 
 
                            FLY-E GROUP, INC. 
 
      UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 
                            COMPREHENSIVE LOSS 
       (Expressed in U.S. dollars, except for the number of shares) 
 
                  For the Three Months Ended   For the Six Months Ended 
                         September 30,               September 30, 
                  --------------------------  -------------------------- 
                      2025          2024          2025          2024 
                  ------------  ------------  ------------  ------------ 
Revenues          $  3,908,862  $  6,824,406  $  9,237,060  $ 14,697,832 
Cost of Revenues     2,932,341     3,919,952     5,999,164     8,693,744 
                   -----------   -----------   -----------   ----------- 
Gross Profit           976,521     2,904,454     3,237,896     6,004,088 
                   -----------   -----------   -----------   ----------- 
 
Operating 
Expenses 
Selling Expenses     1,027,726     2,041,435     2,348,943     3,653,930 
General and 
 Administrative 
 Expenses              997,218     2,094,078     3,442,151     3,626,716 
                   -----------   -----------   -----------   ----------- 
Total Operating 
 Expenses            2,024,944     4,135,513     5,791,094     7,280,646 
                   -----------   -----------   -----------   ----------- 
Loss from 
 Operations        (1,048,423)   (1,231,059)   (2,553,198)   (1,276,558) 
                   -----------   -----------   -----------   ----------- 
 
Other Expenses, 
 net                 (148,153)      (53,929)     (156,051)      (47,411) 
Interest 
 Expenses, net       (539,537)      (23,795)   (1,085,771)      (91,877) 
                   -----------   -----------   -----------   ----------- 
Loss Before 
 Income Taxes      (1,736,113)   (1,308,783)   (3,795,020)   (1,415,846) 
Income Tax 
 (Expense) 
 Benefit              (40,012)       165,935        10,247        93,490 
                   -----------   -----------   -----------   ----------- 
Net Loss          $(1,776,125)  $(1,142,848)  $(3,784,773)  $(1,322,356) 
                   -----------   -----------   -----------   ----------- 
 
Other 
Comprehensive 
(Loss) Income 
Foreign currency 
 translation 
 adjustment           (29,378)         4,298       (7,024)         2,974 
                   -----------   -----------   -----------   ----------- 
Total 
 Comprehensive 
 Loss             $(1,805,503)  $(1,138,550)  $(3,791,797)  $(1,319,382) 
                   -----------   -----------   -----------   ----------- 
 
Losses per 
 Share*           $     (2.18)  $     (4.65)  $     (6.58)  $     (5.60) 
Weighted 
Average Number 
of Common 
Stock 
-- Basic and 
 Diluted*              813,922       245,875       575,463       236,226 
                   -----------   -----------   -----------   ----------- 
 
*Shares and per share data are presented on a retroactive basis to reflect 
the 1-for-110,000 stock split completed on April 2, 2024, the 1-for-5 
reverse stock split completed on July 3, 2025 and the 1-for-20 reverse 
stock split completed on November 4, 2025. 
 
 
                         FLY-E GROUP, INC. 
 
     UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
    (Expressed in U.S. dollars, except for the number of shares) 
 
                                         For the Six Months Ended 
                                               September 30, 
                                        -------------------------- 
                                            2025          2024 
                                        ------------  ------------ 
Cash flows from operating activities 
Net loss                                $(3,784,773)  $(1,322,356) 
Adjustments to reconcile net loss to 
net cash used in operating 
activities: 
Loss on disposal of property and 
equipment                                     68,188            -- 
Gain on disposal of subsidiaries            (64,452)            -- 
Depreciation expense                         417,258       180,910 
Amortization expense                          54,761         8,846 
Deferred income taxes benefits              (42,251)     (462,740) 
Amortization of operating lease 
 right-of-use assets                       2,699,632     1,676,991 
Inventories impairment loss                  569,758       330,823 
Changes in operating assets and 
liabilities: 
Accounts receivable                      (1,031,989)     (154,034) 
Accounts receivable -- a related party         5,435       235,029 
Inventories                              (1,107,359)   (3,562,871) 
Prepayments and other receivables        (1,371,452)   (1,864,681) 
Prepayments for operation services to 
 a related party                              45,000     (180,000) 
Security deposits                             41,550      (55,598) 
Accounts payable                           (722,056)     (815,667) 
Accrued expenses and other payables        (793,623)     (380,183) 
Accrued expenses and other payables - 
related parties                                  225            -- 
Operating lease liabilities              (2,676,403)   (1,516,198) 
Taxes payable                               (14,978)   (1,530,416) 
                                         -----------   ----------- 
Net cash used in operating activities    (7,707,529)   (9,412,145) 
                                         -----------   ----------- 
 
Cash flows from investing activities 
Purchases of properties and equipment       (44,661)   (1,575,936) 
Purchase of software from a related 
 party                                            --     (500,000) 
Payments of property rights                 (15,477)            -- 
Prepayment for purchasing software 
 from a related party                             --     (801,980) 
Cash released from disposal of 
entities                                   (230,076)            -- 
Repayment from a related party                    --       510,381 
Advance to a related party                 (161,826)     (477,933) 
                                         -----------   ----------- 
Net cash used in investing activities      (452,040)   (2,845,468) 
                                         -----------   ----------- 
 
Cash flows from financing activities 
Proceeds from borrowings                   1,917,100     3,737,500 
Repayments of borrowings                 (1,370,591)     (391,308) 
Repayments on other payables - related 
 parties                                          --      (92,229) 
Payments of offering cost                  (516,490)     (282,403) 
Net proceeds from issuance of common 
 stock                                     9,773,000     9,154,500 
                                         -----------   ----------- 
Net cash provided by financing 
 activities                                9,803,019    12,126,060 
                                         -----------   ----------- 
Net changes in cash including cash 
 classified within current assets held 
 for sale                                  1,643,450     (131,553) 
Effect of exchange rate changes on 
 cash                                        (7,024)         2,974 
Less: net increase in cash classified 
within current assets held for sale           61,548            -- 
Cash at beginning of the period              840,102     1,403,514 
                                         -----------   ----------- 
Cash at the end of the period           $  2,538,076  $  1,274,935 
                                         -----------   ----------- 
 
Supplemental disclosure of cash flow 
information 
Cash paid for interest expense          $  1,085,771  $     91,877 
                                         -----------   ----------- 
Cash paid for income taxes              $     42,640  $  1,940,595 
                                         -----------   ----------- 
 
Supplemental disclosure of non-cash 
investing and financing activities 
Subscription receivables from share 
 placement                              $  7,596,558  $         -- 
Purchase of vehicle funded by loan      $         --  $    219,668 
Purchase of office funded by loan       $         --  $  1,800,000 
Purchase of software by using previous 
 prepayments                            $    136,580  $  1,975,000 
Properties used for rental services     $     49,811  $         -- 
Deferred IPO cost recognized as 
 additional paid-in capital             $         --  $    502,198 
Uncollected proceeds from disposal of 
 subsidiaries                           $    860,754  $         -- 
Termination of operating lease 
 right-of-use assets and operating 
 lease liabilities                      $  3,187,864  $  (280,087) 
Right-of-use assets obtained in 
 exchange for operating lease 
 liabilities                            $         --  $  1,394,682 
 

The following table sets forth the components of our EBITDA for the three months ended September 30, 2025 and 2024:

 
                         For the Three Months Ended September 30, 
                ---------------------------------------------------------- 
                                                                Percentage 
                    2025              2024            Change      Change 
                ------------      ------------      ----------  ---------- 
Net loss        $(1,776,125)      $(1,142,848)      $(633,277)        55.4% 
Income tax 
 provision 
 (benefit)            40,012         (165,935)         205,947     (124.1)% 
Depreciation         204,466            85,859         118,607       138.1% 
Interest 
 Expenses            539,537            23,795         515,742     2,167.4% 
Amortization          27,446             7,895          19,551       247.6% 
                 -----------       -----------       --------- 
EBITDA          $  (964,664)      $(1,191,234)      $  226,570      (19.0)% 
Percentage of 
 Revenue              (24.7)%           (17.5)%                      (7.2)% 
 

The following table sets forth the components of our EBITDA for the six months ended September 30, 2025 and 2024:

 
                           For the Six Months Ended September 30, 
                ------------------------------------------------------------ 
                                                                  Percentage 
                    2025              2024             Change       Change 
                ------------      ------------      ------------  ---------- 
Loss from 
 Operations     $(3,784,773)      $(1,322,356)      $(2,462,417)       186.2% 
Income Tax 
 Benefit            (10,247)          (93,490)            83,243      (89.0)% 
Depreciation         417,258           180,910           236,348       130.6% 
Interest 
 Expenses          1,085,771            91,877           993,894      1081.8% 
Amortization          54,761             8,846            45,915       519.0% 
EBITDA          $(2,237,230)      $(1,134,213)      $(1,103,017)        97.2% 
Percentage of 
 Revenue              (24.2)%            (7.7)%                       (16.5)% 
 

View original content:https://www.prnewswire.com/news-releases/fly-e-group-inc-announces-second-quarter-and-first-half-of-fiscal-year-2026-financial-results-302646476.html

SOURCE Fly-E Group, Inc.

 

(END) Dow Jones Newswires

December 18, 2025 19:00 ET (00:00 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment