Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 490

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 490
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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-GAAP
financial measures as supplements to our U.S. GAAP results in order to provide a more complete understanding of the factors and
trends affecting our business. EBITDA is a measure of operating performance that is not defined by U.S. GAAP and should not be considered
a substitute for net (loss) income as determined in accordance with U.S. GAAP.

EBITDA along with a reconciliation to net income
is shown within the Results of Operations below.

Results of Operations for the Years Ended
March 31, 2025 and 2024

The following table sets forth the components
of our results of operations for the years ended March 31, 2025 and 2024:

    For the Year Ended March 31, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    Revenues, Net 
    $25,427,163  
    $32,205,666  
    $(6,778,503) 
     (21.0)%
  
    Cost of Revenues 
     14,976,266  
     19,099,120  
     (4,122,854) 
     (21.6)%
  
    Gross Profit 
     10,450,897  
     13,106,546  
     (2,655,649) 
     (20.3)%
  
    Operating Expenses 

    Selling Expenses 
     7,403,374  
     5,914,786  
     1,488,588  
     25.2%
  
    General and Administrative Expenses 
     7,607,489  
     3,931,203  
     3,676,286  
     93.5%
  
    Total Operating Expenses 
     15,010,863  
     9,845,989  
     5,164,874  
     52.5%
  
    (Loss) Income from Operations 
     (4,559,966) 
     3