Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 64

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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. 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.

EBITDA along with a reconciliation to net income
is shown within the Results of Operations below.

Results of Operations for the Three Months
Ended December 31, 2024 and 2023

The following table sets forth the components
of our results of operations for the three months ended December 31, 2024 and 2023:

    For the Three Months Ended December 31, 

    2024  
    2023  
    Change  
    Percentage  Change 
  
    Revenues, Net 
    $5,678,010  
    $7,428,212  
    $(1,750,202) 
     (23.6)%
  
    Cost of Revenues 
     3,116,940  
     4,455,399  
     (1,338,459) 
     (30.0)%
  
    Gross Profit 
     2,561,070  
     2,972,813  
     (411,743) 
     (13.9)%
  
    Operating Expenses 

    Selling Expenses 
     1,943,633  
     1,935,498  
     8,135  
     0.4%
  
    General and Administrative Expenses 
     1,557,716  
     843,326  
     714,390  
     84.7%
  
    Total Operating Expenses 
     3,501,349  
     2,778,824  
     722,525  
     26.0%
  
    (Loss) Income from Operations 
     (940,279) 
     193,989  
     (1,134,268) 
     (584.7)%
  
    Other Income (Expenses), Net 
     (16,699) 
     (53,824) 
     37,125  
     (69