Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 62

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 62
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 months ended December 31, 2023, to $91 in the nine months ended December 31, 2024. Gross Margin The following table shows our gross profit and gross margin for the nine months ended December 31, 2024 and 2023:

|              |     | For the Nine Months Ended December 31, |      2024 |   |     |     |      2023 |   |     |     | Change   |   |     |     | Percentage 
 Change     |    |
|:-------------|:----|:---------------------------------------|----------:|:--|:----|:----|----------:|:--|:----|:----|:---------|:--|:----|:----|:-----------|:---|
| Gross Profit |     | $                                      | 8,565,158 |   |     |     | 9,456,827 |   |     |     | (891,669 | ) |     |     | (9.4       | )% |
| Gross Margin |     |                                        |      42.0 | % |     |     |      39.3 | % |     |     |          |   |     |     |            |    |

Gross profit for the nine months ended December 31, 2024 and 2023 was $8.6 million and $9.5 million, respectively. Gross margin was 42.0% and 39.3% for the nine months ended December 31, 2024 and 2023, respectively. The increase in gross margin was driven primarily by the decrease of the sales of our batteries by $0.9 million, from $2.9 million in the nine months ended December 31, 2023 to $2.0 million in the nine months ended December 31, 2024, and the decrease of the cost for batteries by $1.0 million, from $2.6 million in the nine months ended December 31, 2023, to $1.6 million in the nine months ended December 31, 2024. The decrease in gross profit was driven by the decrease of the sales of E-motorcycles by $3.2 million, from $7.2 million in the nine months ended December 31, 2023 to $4.0 million in the nine months ended December 31, 2024, and the decrease of the cost for E-m