Financial Performance: Fly-E Group reported a net revenue of $5.3 million for Q1 FY 2026, down 32.3% from $7.9 million in the same period last year, with a net loss increasing to $2.0 million compared to $0.2 million previously.
Sales and Revenue Breakdown: Retail sales revenue fell by 45.2% to $3.8 million, while wholesale revenue increased by 42.3% to $1.4 million, attributed to an expanded dealer network despite challenges from safety concerns regarding lithium-battery products.
Gross Margin Improvement: The gross margin improved to 42.4%, up from 39.4% last year, primarily due to higher margins from the rental services segment, which generated a gross margin of 79.8%.
Operational Challenges: The company faced operational challenges including increased operating expenses by 19.7% to $3.8 million, driven by rising professional fees and depreciation costs, alongside a significant decline in retail sales linked to recent safety incidents involving electric vehicles.
FLYE
$7.05+Infinity%1D
Analyst Views on FLYE
About FLYE
Fly-E Group, Inc. is an electric vehicle (EV) company, which is engaged in designing, installing, selling, and renting smart electric motorcycles, electric bikes, electric scooters and related accessories under the brand Fly E-Bike. The Company has approximately 36 stores, including 35 retail stores in the United States and one retail store in Canada. The Company offers rental services from selected locations in New York and Los Angeles. It also sells its products through its online store at flyebike.com. The Company offers 25 E-motorcycle products, 28 E-bike products and 37 E-scooter products. It has a diversified product portfolio that is designed to satisfy the various demands of its customers and address different urban travel scenarios. The Company has produced approximately 3,842 E-motorcycles, 5,713 E-bikes and 1,480 E-scooters. It sources vehicle components from China and the United States and then assembles them into its vehicles in a facility located in Maspeth, New York.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
