Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 164

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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Income Tax Benefits (Provisions)  

Income taxes benefit was $50,259 for the three months ended June 30,
2025, a change from $72,445 income tax provision for the three months ended June 30, 2024. Although the Company incurred pre-tax losses
in both periods, the change was primarily because of differences in the recognition of deferred tax assets and related valuation allowance.

Net Loss

Net loss was $2.0 million for the three months ended June 30,
2025, an increase of $1.7 million, or 1,019.0%, from net loss of $0.2 million for the three months ended June 30, 2024, which was mainly
attributable to the reasons discussed above.

EBITDA

The following table sets forth the components of our EBITDA for the
three months ended June 30, 2025 and 2024:

    For the Three Months Ended June 30, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    Net loss 
    $(2,008,648) 
    $(179,508) 
    $(1,829,140) 
     1019.0%
  
    Income Tax provision 
     (50,259) 
     72,445  
     (122,704) 
     (169.4)%
  
    Depreciation 
     212,792  
     95,051  
     117,741  
     123.9%
  
    Interest Expenses 
     546,234  
     68,082  
     478,152  
     702.3%
  
    Amortization 
     27,315  
     951  
     26,364  
     2,772.2%
  
    EBITDA 
    $(1,272,566) 
    $57,021  
    $(1,329,587) 
     (2,331.7)%
  
    Percentage of Revenue 
     (23.9)% 
     0.7% 
        
     (24.6)%

Before
interest expenses, income tax, depreciation, and amortization, for the three months ended June 30, 2025, our net loss was $1.3 million,
a change