Fly-E Group, Inc. Announces Third Quarter and Nine Months Financial Results of Fiscal Year 2025
1. Q3 revenue fell 23.6% with sales down by 3,511 units. Net loss emerged versus prior net income. 2. Gross margin improved from 39.0% to 45.1%, reflecting cost management. This partially offsets volume concerns. 3. Lithium-battery accidents have dampened E-bike consumer demand in New York. Sales shifted toward oil-powered vehicles. 4. Fly-11 PRO was selected for NYC DOT’s $2M trade-in program. This highlights a strategic government partnership.