Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 197

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 197
---
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations   

The following discussion of our financial condition and results of
operations should be read in conjunction with the financial statements and the notes thereto included in this quarterly report. The following
discussion contains forward-looking statements. Actual results could differ materially from the results discussed in the forward-looking
statements. See “Item 1A. Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements”.

Overview

We are an EV company that is principally engaged
in designing, installing, selling and renting E-motorcycles, E-bikes, E-scooters and related accessories under the brand “Fly E-Bike.”
At Fly E-Bike, our commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately
contributing towards building a more environmentally friendly future.

Fly E-Bike was
established in 2018 with its first store opened in New York. Our business has grown rapidly since then and we are now one of the
leading providers of E-bikes for food delivery workers in New York City. As of August 19, 2025, we have 16 stores, including 15
retail stores in the U.S and one retail store in Canada. The Company offers rental services from selected locations in New York,
Toronto, and Los Angeles. We also operate one online store at flyebike.com, focusing on selling E-motorcycles, E-bikes and E-scooters,
serving customers in the United States. In addition, we plan to open a second online store focusing on selling gas bikes in the future.
We plan extend our business into South America and Europe in the future.

We have a diversified
product portfolio that is designed to satisfy the various demands of our customers and address different urban travel scenarios. Additionally,
we aim to refresh our product offerings continuously to align with evolving market trends. As of August 19, 2025, we offered 27 E-motorcycle
products, 36 E-bike products and 38 E-scooter products.

We also operate a rental program to meet the increasing market demand
for safe, UL-certified e-bikes in compliance with New York State regulations. The rental service, now available in New York
City, Toronto, and Los Angeles via the Go Fly rental service mobile app and select Fly E-Bike stores, provides users with a flexible and
affordable e-bike rental option