Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 175

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 8
Chunk 175
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     882.7%
  
    Interest Expenses 
     155,673  
     31,558  
     124,115  
     393.3%
  
    Amortization 
     21,985  
     —  
     21,985  
     100.0%
  
    EBITDA 
    $(804,993) 
    $153,394  
    $(958,387) 
     (624.8)%
  
    Percentage of Revenue 
     (14.2)% 
     2.1% 
        
     (16.2)%

Before
interest expenses, income tax, depreciation, and amortization, for the three months ended December 31, 2024, our net loss was $0.8
million, a change of $1.0 million, compared to net income of $0.2  million for
the three months ended December 31, 2023, which was mainly attributable to the decrease in the cost of revenue, increase in selling
and general and administrative expense described above. The ratio of EBITDA to revenue was negative 14.2% and 2.1% for the three
months ended December 31, 2024 and 2023, respectively.

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

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

    For the Nine Months Ended December 31, 

    2024  
    2023  
    Change  
    Percentage  Change 
  
    Revenues, Net 
    $20,375,842  
    $24,034,397  
    $(3,658,555) 
     (5.2)%
  
    Cost of Revenues 
     11,810,684  
     14,577,570  
     (2,766,886) 
     (19.0)%
  
    Gross Profit 
     8,565,158  
     9,456,827  
     (891,669) 
     (9.4)%
  
    Operating Expenses 

    Selling Expenses 
     5,597,563  
     4,637,043