<div><div></div><div>Fly-E reported quarterly net revenue of $2.65 million and a net loss of $1.92 million (loss per share of $1.18) for the quarter, reflecting a sharp decline in sales and higher interest costs. For the nine months, net revenue was $11.89 million with a net loss of $5.71 million (loss per share of $6.14), as lower volumes, margin pressure and elevated costs weighed on results. Management cited reduced units sold, inventory clearance pricing and increased legal/impairment and interest expenses as primary drivers of the weaker financial performance.Financial Highlights<ul><li>Revenues, Net: $2.65 million (Quarter); $11.89 million (Nine months); down 53.3% quarter-over-quarter and 41.7% year-to-date due to lower units sold.</li><li>Gross Profit: $1.05 million (Quarter); $4.29 million (Nine months). Gross margin was 39.6% for the quarter and 36.1% year-to-date, showing margin contraction versus the prior year.</li><li>Loss from Operations: $(1.56) million (Quarter); $(4.11) million (Nine months). Operating expenses declined year-to-date but were impacted by impairment and legal costs that increased general and administrative expenses.</li><li>Net Loss: $(1.92) million (Quarter); $(5.71) million (Nine months). The increased loss was driven by the revenue decline and higher interest expense.</li><li>Losses per Share: $(1.18) per share (Quarter); $(6.14) per share (Nine months). Weighted average shares outstanding: 1,632,391 (Quarter) and 930,332 (Year-to-date).</li></ul>Business Highlights<ul><li>Revenue Trend and Channel Mix: Net revenue fell approximately 42% year-to-date and about 53% quarter-over-quarter, driven by steep declines in units sold and pricing actions to clear aged inventory. Retail sales collapsed (63.6% year-to-date decline) while wholesale and rental channels grew materially as the company shifted away from physical retail presence.</li><li>Operational Footprint: The company streamlined operations by selling or closing multiple stores and now operates six U.S. retail locations, with centralized assembly operations in Maspeth, New York.</li><li>Brand, Safety and Legal: Multiple lithium-battery incidents prompted regulatory scrutiny, dented consumer retail demand and led to litigation and reputational challenges that affected sales trends.</li><li>Product and Technology: Expanded product SKUs across categories (including motorcycles, e-bikes and scooters) and launched a rental program. The company is continuing ERP implementation and ongoing enhancements to its GO FLY app to support operations and customer engagement.</li></ul>Original SEC Filing: Fly-E Group, Inc. [ FLYE ] - 10-Q - Apr. 21, 2026<section>Disclaimer<div>This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.</div></section></div></div>

FLYE

ONLN

IBUY

Fly-E reported a quarterly net revenue of $2.65 million and a net loss of $1.92 million, with a loss per share of $1.18. Year-to-date, net revenue was $11.89 million, resulting in a net loss of $5.71 million and a loss per share of $6.14. The decline in revenue was attributed to lower units sold, inventory clearance pricing, and increased legal and interest expenses. Retail sales saw a significant drop of 63.6% year-to-date, while wholesale and rental channels grew. The company streamlined operations, now operating six retail locations in the U.S.

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FLY E GROUP INC

Fly-E 10-Q: Revenue $2.65M Q / $11.89M YTD; EPS $(1.18) Q / $(6.14) YTD