Fly-E Group Reports Q3 and Nine-Month Financial Results for Fiscal Year 2026

Written by Emily J. Thompson, Senior Investment Analyst

Source: Yahoo Finance

Updated: Apr 21 2026

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Source: Yahoo Finance

Significant Revenue Decline: Fly-E reported net revenues of $2.6 million for Q3 2026, a 53.3% decrease year-over-year, primarily driven by an 87% drop in EV sales and price reductions to clear aged inventory, indicating a direct impact of weak market demand on the company's performance.
Growth in Wholesale and Rental Services: Despite retail revenue plummeting 86.8% to $0.6 million, wholesale revenue surged 153.4% to $1.8 million, and rental services revenue skyrocketed 288.6% to $0.2 million, demonstrating initial success in diversifying revenue streams.
Declining Gross Margin: The gross profit for Q3 was $1.0 million, with a gross margin of 39.6%, down from 45.1% in the prior year, primarily due to the sharp decline in EV sales and the higher margin from rental services, indicating pressure on profitability.
Widening Net Loss: The company reported a net loss of $1.9 million for Q3, an increase of 181% year-over-year, with a loss per share of $1.18, reflecting intensified challenges in operations and market conditions, necessitating improved governance and execution to achieve long-term value creation.

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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.

Fly-E Group Reports Q3 Financial Highlights

Apr 22 2026seekingalpha

Earnings Performance: Fly-E Group reported a GAAP EPS of $1.18 for Q3, which, while within market expectations, still reflects significant profitability pressure compared to the previous year, indicating challenges ahead.
Revenue Decline: The company's revenue for the third quarter was $2.6 million, representing a staggering 54.2% year-over-year decline, highlighting major challenges faced by Fly-E Group in a competitive market that could impact investor confidence.
Market Environment Impact: The sharp revenue drop may be attributed to weak overall market demand and intensified industry competition, prompting Fly-E Group to reassess its market strategies to navigate the current economic landscape.
Uncertain Future Outlook: Given the significant revenue decline, Fly-E Group's future financial performance remains uncertain, necessitating effective measures from management to restore growth and enhance shareholder value.

Fly-E Group Reports Q3 2026 Financial Results with Significant Revenue Declines

Apr 21 2026PRnewswire

Significant Revenue Decline: Fly-E Group reported net revenues of $2.6 million for Q3 2026, a 53.3% decrease year-over-year, primarily driven by an 87% drop in EV sales and price reductions to clear aged inventory, highlighting severe challenges in consumer demand.
Wholesale Revenue Growth: Despite the overall revenue decline, wholesale revenue surged by 153.4% to $1.8 million, largely due to contributions from disposed entities, indicating the company's ability to identify growth opportunities even in adversity.
Surge in Rental Services Revenue: Rental services revenue skyrocketed by 288.6% to $0.2 million in Q3, demonstrating significant progress in diversifying service offerings, which may provide new revenue streams for future growth.
Widening Net Loss: The company reported a net loss of $1.9 million for Q3, an increase of 181% year-over-year, with a loss per share of $1.18, reflecting ongoing pressures as the company adjusts its business structure and navigates market challenges.

Fly-E Group Reports Q3 2026 Financial Results with Significant Revenue Decline

Apr 21 2026Newsfilter

Significant Revenue Decline: Fly-E Group reported net revenues of $2.6 million for Q3 2026, a 53.3% decrease year-over-year, primarily driven by an 87% drop in electric vehicle sales, indicating weak market demand and pricing pressures.
Wholesale and Rental Growth: While retail revenue plummeted 86.8% to $0.6 million, wholesale revenue surged 153.4% to $1.8 million, and rental services revenue skyrocketed 288.6% to $0.2 million, showcasing the company's potential in service offerings.
Declining Gross Margin: The gross profit for Q3 was $1.0 million, with a gross margin of 39.6%, down from 45.1% in the previous year, primarily due to reduced sales volume and the impact of retail store closures.
Widening Net Loss: The company reported a net loss of $1.9 million for Q3, an increase of 181% year-over-year, with a loss per share of $1.18, reflecting operational challenges and the need for improved governance and execution to support long-term value creation.