Fly-E Group, Inc. Announces Third Quarter and Nine Months Financial Results of Fiscal Year 2025
1. Q3 revenue fell 23.6% with 3,511 fewer units sold. Battery incidents reduced buyer confidence. 2. Gross margin improved to 45.1% from 39.0% last year. Efficiency gains partly counterbalance lower sales. 3. Net loss of $0.7M contrasts with prior net income. Rising operating expenses eroded profitability. 4. Fly-11 PRO wins NYC DOT $2M trade-in program slot. Government endorsement boosts safety credentials and visibility. 5. Company emphasizes innovation and diversification. Plans include expanding products and digital marketing initiatives.