Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 232

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 2
Chunk 232
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 $1,943,633  
     1,935,498  
     8,135  
     0.4%
  
    General and Administrative Expenses 
     1,557,716  
     843,326  
     714,390  
     84.7%
  
    Total Operating Expenses 
    $3,501,349  
     2,778,824  
     722,525  
     26.0%
  
    Percentage of Revenue 
     61.7% 
     37.4% 

Total operating expenses were $3.7 million
for the three months ended December 31, 2024, an increase of $0.7 million, or 26.0%, compared to $2.8 million for the three months
ended December 31, 2023. The increase in operating expenses was attributable to the increase in our payroll expenses, rent expenses, advertising
expenses, professional fees, and insurance expenses as we expanded our business as discussed below.

37

Selling Expenses

Selling
expenses primarily consist of payroll expenses, rent, utilities expenses, and advertising expenses of retail stores. Total payroll expenses
were $0.9 million for the three months ended December 31, 2024, compared to $0.5 million for the three months ended December 31, 2023.
Rent expenses were $0.7 million for the three months ended December 31, 2024, compared to $0.7 million for the three months
ended December 31, 2023. Advertising expenses were $32,681 for the three months ended December 31, 2024, compared to $6,629 for the three
months ended December 31, 2023. The increase in these expenses was primarily due to the increased number of new employees hired for repair
and maintenance business operation in the three months ended December 31, 2024. Total commission expenses were nil for the three months
ended December 31, 2024, compared to $0.6 million for the three months ended December 31, 2023. The decrease in the commission expenses
was primarily due to the Company’s discontinuation of marketing referral expenses for promotions as of January 1, 2024.

General and Administrative Expenses

Various
general and administrative expenses increased during the three months ended December 31, 2024 compared to the same