Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 57

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 57
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 non-GAAP financial measures may differ from the calculation of similarly titled financial measures presented by other companies and therefore may not be comparable among companies. We use EBITDA (earnings before interest, taxes, depreciation, and amortization) to evaluate our operating performance. We believe EBITDA provides additional insight into our underlying, ongoing operating performance and facilitates year-to-year comparisons by excluding the earnings impact of interest, tax, depreciation and amortization and that presenting EBITDA is more representative of our operational performance and may be more useful for investors. We reconcile our non-GAAP financial measure to our net income, which is our most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. EBITDA includes adjustments for provision for income taxes, as applicable, interest income and expense, depreciation, and amortization. EBITDA does not represent and should not be considered an alternative to net income as determined by U.S. GAAP, and our calculations thereof may not be comparable to those reported by other companies. We believe EBITDA is an important measure of operating performance and provides useful information to investors because it highlights trends in our business that may not otherwise be apparent when relying solely on U.S. GAAP measures and because it eliminates items that have less bearing on our operating performance. EBITDA, as presented herein, is a supplemental measure of our performance that is not required by, or presented in accordance with, U.S. 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. 36 Results of Operations for the Years Ended March 31, 2024 and 2023 The following table sets forth the components of our results of operations for the years ended March 31, 2024 and 2023:

|                                     |     | For the Year Ended March 31, |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     | Percentage 
     Change |   |
|:------------------------------------|:----|:-----------------------------|-----------:|:--|:----|