Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 206

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 206
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 term is defined under the rules of the SEC, to clarify and enhance understanding
of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company’s
operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most
directly comparable measure calculated and presented in accordance with U.S. GAAP. For example, non-GAAP measures may exclude
the impact of certain items such as acquisitions, divestitures, gains, losses and impairments, or items outside of management’s
control. Management believes that the following non-GAAP financial measure provides investors and analysts useful insight into our financial
position and operating performance. Any non-GAAP measure provided should be viewed in addition to, and not as an alternative to, the
most directly comparable measure determined in accordance with U.S. GAAP. Further, the calculation of these 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.

37

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-G