Fly-E Group, Inc. Announces Second Quarter and First Half of Fiscal Year 2027 Financial Results

Rhea-AI Summary

Fly-E Group (FLYE) reported second-quarter fiscal 2027 revenue of $2.6 million, down from the same period last year. Revenue fell 33.7% for the quarter ended September 30, 2026. Retail revenue dropped 77.4% to $0.5 million, while wholesale revenue rose 21.4% to $2.1 million. Gross margin fell to 8.1% from 25.0%, reflecting the shift toward lower-priced wholesale sales and retail discounts. Net loss narrowed to $1.7 million from $1.8 million; basic and diluted loss per share improved to $1.07 from $2.18.

First-half revenue declined 42.2% to $5.3 million, and net loss widened to $5.6 million from $3.8 million. First-half gross margin fell to 9.5% from 35.1%. Cash increased to $504,721 at September 30 from $265,236 at March 31, 2026, while notes payable rose to $1.2 million from zero. Results are unaudited.

10 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 17 points

How the balance works

Positive

• Moderate pointSecond-quarter wholesale revenue increased 21.4% to $2.1 million year over year.
• Moderate pointSecond-quarter selling expenses decreased 74.3% to $0.3 million year over year following store reductions.
• Minor pointFirst-half wholesale revenue increased 33.0% to $4.2 million year over year.
• Minor pointSecond-quarter net loss narrowed to $1.7 million from $1.8 million a year earlier.
• Minor pointSecond-quarter basic and diluted loss per share improved to $1.07 from $2.18 a year earlier.

5 minor points

• Minor pointFirst-half basic and diluted loss per share improved to $3.48 from $6.58 a year earlier.
• Minor pointFirst-half selling expenses decreased 68.1% to $0.8 million year over year following store reductions.
• Minor pointSecond-quarter cost of revenues decreased 18.8% to $2.4 million year over year, reflecting lower sales volume.
• Minor pointFirst-half cost of revenues decreased 19.5% to $4.8 million year over year, reflecting lower sales volume.
• Minor pointCash increased to $504,721 at September 30, 2026, from $265,236 at March 31, 2026.

Negative

• Major pointFirst-half net loss widened to $5.6 million from $3.8 million a year earlier.
• Moderate pointSecond-quarter revenue decreased 33.7% to $2.6 million year over year.
• Moderate pointSecond-quarter gross margin fell to 8.1% from 25.0% a year earlier.
• Moderate pointSecond-quarter general and administrative expenses rose 56.6% to $1.5 million year over year.
• Moderate pointSecond-quarter EBITDA, earnings before interest, taxes, depreciation and amortization, worsened to negative $1.3 million versus negative $1.0 million.
• Moderate pointFirst-half EBITDA worsened to negative $4.7 million from negative $2.2 million a year earlier.
• Moderate pointNotes payable increased to $1,200,000 at September 30, 2026, from zero at March 31, 2026.
• Moderate pointStockholders' equity fell to $11,759,392 at September 30, 2026, from $17,442,404 at March 31, 2026.

9 minor points

• Minor pointFirst-half revenue decreased 42.2% to $5.3 million year over year.
• Minor pointSecond-quarter retail revenue fell 77.4% to $0.5 million year over year.
• Minor pointFirst-half retail revenue fell 81.9% to $1.0 million year over year.
• Minor pointSecond-quarter sales volume fell to 7,392 units from 18,564 a year earlier.
• Minor pointFirst-half sales volume fell to 14,950 units from 29,012 a year earlier.
• Minor pointSecond-quarter gross profit fell to $0.2 million from $1.0 million a year earlier.
• Minor pointFirst-half gross profit fell to $0.5 million from $3.2 million a year earlier.
• Minor pointFirst-half gross margin fell to 9.5% from 35.1% a year earlier.
• Minor pointFirst-half general and administrative expenses rose 42.7% to $4.8 million year over year.

News Explained

At the September 30, 2026 quarter-end, Fly-E's $504,721 cash balance equaled 122.7 days of second-quarter operating cash use.

Sources and calculations

• Fly-E Group second-quarter and first-half fiscal 2027 results (2026-11-13)
• Fly-E Group fiscal 2027 second-quarter fundamentals (2026-09-30)

• Available liquidity against the last reported quarterly operating outflow, in days at that rate $504,721 / ($378,352 / 92) = 122.7 days

Key Figures

Quarterly net revenue: $2.6 million, down 33.7% from $3.9 million Quarterly gross margin: 8.1% vs. 25.0% Quarterly net loss: $1.7 million vs. $1.8 million +5 more

Quarterly net revenue

$2.6 million, down 33.7% from $3.9 million

Second quarter FY2027 vs. the same period last year

Quarterly gross margin

8.1% vs. 25.0%

Second quarter FY2027 vs. the same period last year

Quarterly net loss

$1.7 million vs. $1.8 million

Second quarter FY2027 vs. the same period last year

Quarterly loss per share

$1.07 vs. $2.18

Basic and diluted, second quarter FY2027 vs. the same period last year

First-half net revenue

$5.3 million, down 42.2% from $9.2 million

First half FY2027 vs. the same period last year

First-half net loss

$5.6 million vs. $3.8 million

First half FY2027 vs. the same period last year

First-half EBITDA

Negative $4.7 million vs. negative $2.2 million

First half FY2027 vs. the same period last year

Cash

$0.5 million vs. $0.3 million

As of September 30, 2026 vs. March 31, 2026

Previous Earnings Reports

2 past events · Latest: Dec 18

Same Type 2 events

1. Dec 18

   Q2 FY2026 earnings

   24h Move

   +1.8%

   Prior-year Q2 revenue fell, while wholesale grew and gross margin was 25.0%.

2. Sep 01

   Q1 FY2027 earnings

   24h Move

   +9.1%

   Q1 revenue fell and net loss widened as wholesale gains offset retail contraction.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebitda, u.s. gaap, non-gaap financial measures

3 terms

ebitda financial

"We use EBITDA (earnings before interest, taxes, depreciation, and amortization)"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

u.s. gaap financial

"presented in accordance with the generally accepted accounting principles in the United States (the "U.S. GAAP")"

U.S. GAAP is a set of rules and standards that companies in the United States follow to prepare their financial reports. It helps ensure that financial information is consistent and clear, so investors and others can compare and understand a company's financial health easily.

non-gaap financial measures financial

"management periodically uses certain "non-GAAP financial measures,""

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Nov. 13, 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 second quarter and first half of fiscal year 2027 ended September 30, 2026.

Second quarter of Fiscal Year 2027 Financial Summary

• Net revenues were $2.6 million, compared to $3.9 million in the same period last year.
• Gross profit was $0.2 million, compared to $1.0 million in the same period last year.
• Gross margin was 8.1%, compared to 25.0% in the same period last year.
• Net Loss was $1.7 million, compared to $1.8 million in the same period last year.
• Basic and diluted losses per share were $1.07, compared to $2.18 in the same period last year.

Mr. Zhou (Andy) Ou, Chief Executive Officer of Fly-E, commented, "During the second quarter, our operational network stabilized following the retail restructuring, with our top-line revenue holding steady sequentially. Our wholesale revenues grew 21.4% year-over-year and accounted for a significantly higher proportion of our total revenue. This evolving revenue mix, combined with promotional pricing in our retail business, naturally influenced our overall margin profile for the period. Meanwhile, we continued to control store-level costs and address corporate matters carefully to strengthen the Company's foundation for the future. By maintaining our operational network and disciplined cost management, we are dedicated to preserving business stability while positioning Fly-E to explore strategic opportunities for long-term growth."

Second quarter of Fiscal Year 2027 Financial Results

(Three Months Ended September 30, 2026)

Net Revenues

Net revenues were $2.6 million in the second quarter of fiscal year 2027, a decrease of 33.7% from $3.9 million in the same period last year. The decrease was primarily driven by a lower sales volume of 7,392 units in the second quarter of fiscal year 2027, compared to 18,564 in the same period last year, resulting from the reduction in our direct retail store count to four stores as of September 30, 2026, compared to 11 stores as of September 30, 2025.

• Retail sales revenue was $0.5 million in the second quarter of fiscal year 2027, a decrease of 77.4% from $2.0 million in the same period last year. The decline was primarily driven by planned store reductions, promotional pricing strategies in response to market competition, and softened consumer demand for E-Bikes and E-Scooters following industry-wide lithium-ion battery safety concerns in the New York market.

• Wholesale revenue was $2.1 million in the second quarter of fiscal year 2027, an increase of 21.4% from $1.7 million in the same period last year. This growth was primarily due to ongoing product purchases from previous company-owned retail stores that transitioned to independent operations during the period.

Cost of Revenues

Cost of revenues was $2.4 million in the second quarter of fiscal year 2027, a decrease of 18.8% from $2.9 million in the same period last year, primarily aligning with lower sales volume driven by the downsizing of our retail store network.

Gross Profit and Margin

Gross profit was $0.2 million in the second quarter of fiscal year 2027, compared to $1.0 million in the same period last year. Gross margin was 8.1% in the second quarter of fiscal year 2027, compared to 25.0% in the same period last year. The decrease in gross margin was primarily attributable to a structural mix shift from direct retail toward lower-priced wholesale channels, further impacted by competitive retail pricing and inventory clearance discounts.

Total Operating Expenses

Total operating expenses were $1.8 million in the second quarter of fiscal year 2027, a decrease of 9.8% compared to $2.0 million in the same period last year. The decrease was primarily attributable to store-level operational savings, which were partially offset by increases in expected credit losses and professional fees.

• Selling expenses were $0.3 million in the second quarter of fiscal year 2027, a significant decrease of 74.3% from $1.0 million in the same period last year, primarily driven by the reduction of retail stores which significantly lowered associated payroll, rental and utility expenses.

• General and administrative expenses were $1.5 million in the second quarter of fiscal year 2027, an increase of 56.6% from $1.0 million in the same period last year. The increase was primarily attributable to expected credit losses on prepayments and receivables and litigation-related legal fees, which were partially offset by cost savings in payroll and software development expenses.

Net Loss

Net loss was $1.7 million in the second quarter of fiscal year 2027, compared to $1.8 million in the same period last year.

Basic and Diluted Earnings (Losses) per Share

Basic and diluted losses per share were $1.07 in the second quarter of fiscal year 2027, compared to $2.18 in the same period last year.

EBITDA

EBITDA was negative $1.3 million in the second quarter of fiscal year 2027, compared to negative EBITDA of $1.0 million in the same period last year.

First Half of Fiscal Year 2027 Financial Results

(Six Months Ended September 30, 2026)

Net Revenues

Net revenues were $5.3 million in the first half of fiscal year 2027, a decrease of 42.2% from $9.2 million in the same period last year. The decrease was primarily driven by a significant reduction in direct retail store counts, resulting in a lower sales volume of 14,950 units in the first half of fiscal year 2027, compared to 29,012 in the same period last year.

• Retail sales revenue was $1.0 million in the first half of fiscal year 2027, a decrease of 81.9% from $5.8 million in the same period last year. The decline was primarily due to significant retail store downsizing, promotional pricing adjustments, and lithium-ion battery safety headwinds in the New York market.

• Wholesale revenue was $4.2 million in the first half of fiscal year 2027, an increase of 33.0% from $3.2 million in the same period last year. This increase was primarily attributable to ongoing product purchases from the retail stores that were streamlined and transitioned to independent operations during the period.

Cost of Revenues

Cost of revenues was $4.8 million in the first half of fiscal year 2027, a decrease of 19.5% from $6.0 million in the same period last year, primarily reflecting lower sales volume following the downsizing of our retail store network.

Gross Profit and Margin

Gross profit was $0.5 million in the first half of fiscal year 2027, compared to $3.2 million in the same period last year. Gross margin was 9.5% in the first half of fiscal year 2027, compared to 35.1% in the same period last year. The decrease in gross margin was primarily attributable to the greater revenue percentage of wholesale channels at lower-priced wholesale pricing, as well as promotional retail pricing adjustment and inventory clearance discounts.

Total Operating Expenses

Total operating expenses were $5.7 million in the first half of fiscal year 2027, a decrease of 2.2% compared to $5.8 million in the same period last year. The decrease was primarily attributable to operational cost savings from retail store reductions, which were offset by increases in expected credit losses and software development fees.

• Selling expenses were $0.8 million in the first half of fiscal year 2027, a significant decrease of 68.1% from $2.3 million in the same period last year, primarily driven by the reductions in store-level payroll and rental expenses following retail store network downsizing.

• General and administrative expenses were $4.8 million in the first half of fiscal year 2027, an increase of 42.7% from $3.4 million in the same period last year. The increase was primarily attributable to expected credit losses on prepayments and receivables and software development fees for our ERP and mobile applications, which were partially offset by decreases in professional fees, payroll and insurance expenses.

Net Loss

Net loss was $5.6 million in the first half of fiscal year 2027, compared to $3.8 million in the same period last year.

Basic and Diluted Earnings (Losses) per Share

Basic and diluted losses per share were $3.48 in the first half of fiscal year 2027, compared to $6.58 in the same period last year.

EBITDA

EBITDA was negative $4.7 million in the first half of fiscal year 2027, compared to negative EBITDA of $2.2 million in the same period last year.

Financial Condition

As of September 30, 2026, the Company had cash of $0.5 million, compared to $0.3 million as of March 31, 2026.

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 our 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 our 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.

We use EBITDA (earnings before interest, taxes, depreciation, and amortization) to evaluate our operating performance. We believe EBITDA provides additional insight into our 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 our operational performance and may be more useful for investors.

We reconcile our non-GAAP financial measure to our net income, which is our 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 our calculations thereof may not be comparable to those reported by other companies. We believe EBITDA is an important measure of operating performance and provides useful information to investors because it highlights trends in our 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 our operating performance. EBITDA, as presented herein, is a supplemental measure of our performance that is not required by, or presented in accordance with, U.S. GAAP. We use non-GAAP financial measures as supplements to our U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting our 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, 2026, filed with the SEC on July 23, 2026, 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 subsequently 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

Seaquant Consulting
Email: investors@sea-quant.com

 

FLY-E GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. dollars, except for the number of shares)
		As of September 30, 2026				As of March 31, 2026
ASSETS
Current Assets
Cash		$	504,721			$	265,236
Accounts receivable, net			9,614,683				7,049,592
Accounts receivable, net – a related party			32,030				32,030
Inventories, net			1,783,574				2,334,484
Prepayments and other receivables			3,848,174				6,967,596
Prepayments and other receivables – related parties			237,034				161,560
Total Current Assets			16,020,216				16,810,498
Property and equipment, net			5,483,835				5,792,915
Security deposits			332,132				369,249
Operating lease right-of-use assets			3,387,955				4,289,237
Intangible assets, net			375,789				431,193
Long-term prepayment for software development			—				1,800,000
Total Assets		$	25,599,927			$	29,493,092
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable		$	1,549,917			$	433,188
Short-term loan payables			3,936,058				3,936,058
Current portion of long-term loan payables			80,120				93,980
Accrued expenses and other payables			787,043				680,200
Notes payable			1,200,000				—
Accrued expenses and other payables – a related party			—				225
Operating lease liabilities – current			1,431,132				1,507,340
Taxes payable			541,241				151,930
Liabilities held for sale			—				—
Total Current Liabilities			9,525,511				6,802,921
Long-term loan payables			1,909,424				1,945,442
Operating lease liabilities – non-current			2,405,600				3,302,325
Total Liabilities			13,840,535				12,050,688
Commitment and Contingencies
Stockholders' Equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized and nil outstanding as of September 30, 2026 and March 31, 2026*			—				—
Common stock, $0.01 par value, 300,000,000 shares authorized and 1,632,386 shares outstanding as of September 30, 2026 and March 31, 2026*			16,324				16,324
Additional paid-in capital			27,826,643				27,826,643
Shares subscription receivable			(219,998)				(219,998)
Accumulated deficit			(15,836,330)				(10,153,318)
Accumulated other comprehensive loss			(27,247)				(27,247)
Total FLY-E Group, Inc. Stockholders' Equity			11,759,392				17,442,404
Total Liabilities and Stockholders' Equity		$	25,599,927			$	29,493,092

*	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 September 30,								For the Six Months Ended September 30,
		2026				2025				2026				2025
Revenues		$	2,590,216			$	3,908,862			$	5,338,356			$	9,237,060
Cost of Revenues			2,380,990				2,932,341				4,829,266				5,999,164
Gross Profit			209,226				976,521				509,090				3,237,896
Operating Expenses
Selling Expenses			264,540				1,027,726				750,004				2,348,943
General and Administrative Expenses			1,561,585				997,218				4,912,256				3,442,151
Total Operating Expenses			1,826,125				2,024,944				5,662,260				5,791,094
Loss from Operations			(1,616,899)				(1,048,423)				(5,153,170)				(2,553,198)
Other Income (Expenses), net			164,695				(148,153)				42,300				(156,051)
Interest Expenses, net			(211,725)				(539,537)				(403,142)				(1,085,771)
Loss Before Income Taxes			(1,663,929)				(1,736,113)				(5,514,012)				(3,795,020)
Income Tax (Expense) Benefit			(80,000)				(40,012)				(169,000)				10,247
Net Loss		$	(1,743,929)			$	(1,776,125)			$	(5,683,012)			$	(3,784,773)
Other Comprehensive (Loss) Income
Foreign currency translation adjustment			—				(29,378)				—				(7,024)
Total Comprehensive Loss		$	(1,743,929)			$	(1,805,503)			$	(5,683,012)			$	(3,791,797)
Losses per Share*		$	(1.07)			$	(2.18)			$	(3.48)			$	(6.58)
Weighted Average Number of Common Stock
– Basic and Diluted*			1,632,351				813,922				1,632,351				575,463

*	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.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. dollars, except for the number of shares)
		For the Six Months Ended September 30,
		2026				2025
Cash flows from operating activities
Net loss		$	(5,683,012)			$	(3,784,773)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of property and equipment			—				68,188
Gain on termination of operating lease			(28,084)				(64,452)
Expected credit losses			1,702,439				—
Depreciation expense			318,785				417,258
Amortization expense			55,404				54,761
Deferred income taxes benefits			—				(42,251)
Amortization of operating lease right-of-use assets			621,222				2,699,632
Inventories reserve			290,935				569,758
Changes in operating assets and liabilities:
Accounts receivable			(2,619,486)				(1,031,989)
Accounts receivable – a related party			—				5,435
Inventories			259,975				(1,107,359)
Prepayments and other receivables			1,471,378				(1,371,452)
Prepayments for operation services to a related party			—				45,000
Security deposits			37,117				41,550
Long-term prepayment for software development			1,800,000				—
Accounts payable			1,116,729				(722,056)
Accrued expenses and other payables			363,789				(793,623)
Accrued expenses and other payables – a related party			(225)				225
Operating lease liabilities			(664,789)				(2,676,403)
Taxes payable			389,311				(14,978)
Net cash used in operating activities			(568,512)				(7,707,529)
Cash flows from investing activities
Purchases of properties and equipment			(9,705)				(44,661)
Payments of property rights			—				(15,477)
Cash released from disposal of entities			—				(230,076)
Repayment from a related party			—				—
Advance to a related party			(75,474)				(161,826)
Net cash used in investing activities			(85,179)				(452,040)
Cash flows from financing activities
Proceeds from borrowings			—				1,917,100
Repayments of borrowings			(6,824)				(1,370,591)
Loan from a third party			900,000				—
Payments of offering cost			—				(516,490)
Net proceeds from issuance of common stock			—				9,773,000
Net cash provided by financing activities			893,176				9,803,019
Net changes in cash including cash classified within current assets held for sale			239,485				1,643,450
Effect of exchange rate changes on cash			—				(7,024)
Less: net change in cash classified within current assets held for sale			—				61,548
Cash at beginning of the period			265,236				840,102
Cash at the end of the period		$	504,721			$	2,538,076
Supplemental disclosure of cash flow information
Cash paid for interest expense		$	256,562			$	1,085,771
Cash paid for income taxes		$	—			$	42,640
Supplemental disclosure of non-cash investing and financing activities
Subscription receivables from share placement		$	—			$	7,596,558
Purchase of vehicle funded by loan		$	—			$	—
Purchase of office funded by loan		$	—			$	—
Purchase of software by using previous prepayments		$	—			$	136,580
Properties used for rental services		$	—			$	49,811
Deferred IPO cost recognized as additional paid-in capital		$	—			$	—
Uncollected proceeds from disposal of subsidiaries		$	1,946,648			$	860,754
Termination of operating lease right-of-use assets and operating lease liabilities		$	280,060			$	3,187,864
Right-of-use assets obtained in exchange for operating lease liabilities		$	—			$	—

EBITDA

The following table sets forth the components of our EBITDA for the three months ended September 30, 2026 and 2025:

		For the Three Months Ended September 30,
														Percentage
		2026				2025				Change				Change
Net Loss		$	(1,743,930)			$	(1,776,125)			$	32,195				(1.8)	%
Income Tax Expense			80,000				40,012				39,988				99.9	%
Depreciation			159,343				204,466				(45,123)				(22.1)	%
Interest Expenses			211,725				539,537				(327,812)				(64.8)	%
Amortization			27,702				27,446				256				0.9	%
EBITDA		$	(1,265,160)			$	(964,664)			$	(300,496)				31.2	%
Percentage of Revenue			(48.8)	%			(24.7)	%							97.6	%

The following table sets forth the components of our EBITDA for the six months ended September 30, 2026 and 2025:

		For the Six Months Ended September 30,
														Percentage
		2026				2025				Change				Change
Net Loss		$	(5,683,013)			$	(3,784,773)			$	(1,898,240)				50.2	%
Income Tax Expenses/(Benefit)			169,000				(10,247)				179,247				(1,749.3)	%
Depreciation			318,785				417,258				(98,473)				(23.6)	%
Interest Expenses			403,142				1,085,771				(682,629)				(62.9)	%
Amortization			55,404				54,761				643				1.2	%
EBITDA		$	(4,736,682)			$	(2,237,230)			$	(2,499,452)				111.7	%
Percentage of Revenue			(88.7)	%			(24.2)	%							266.5	%

 

View original content:https://www.prnewswire.com/news-releases/fly-e-group-inc-announces-second-quarter-and-first-half-of-fiscal-year-2027-financial-results-302939337.html

SOURCE FLY-E GROUP, INC.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Fly-E Group's second-quarter fiscal 2027 results?

Fly-E reported revenue of $2.6 million and a net loss of $1.7 million for the three months ended September 30, 2026. Revenue declined 33.7% year over year, while net loss narrowed from $1.8 million. Basic and diluted loss per share was $1.07, compared with $2.18 a year earlier.

Why did Fly-E Group's wholesale revenue increase in fiscal 2027?

Wholesale revenue growth primarily reflected continued product purchases by former company-owned retail stores that transitioned to independent operations. Second-quarter wholesale revenue increased 21.4% to $2.1 million year over year, while first-half wholesale revenue increased 33.0% to $4.2 million.

Why did Fly-E Group's administrative expenses rise in fiscal 2027?

Second-quarter general and administrative expenses increased primarily because of expected credit losses on prepayments and receivables and litigation-related legal fees. First-half expenses increased primarily because of expected credit losses and software development fees for enterprise resource planning software and mobile applications. These expenses reached $1.5 million for the quarter and $4.8 million for the first half.