Company: FLYE
Filing Date: 2025-02-19
Form Type: 10-Q
Source: 0001213900-25-015334
Chunk: 228

Company: Fly-E Group, Inc.
Filing Date: 2025-02-19
Form: 10-Q
Item: Part I, Item 2
Chunk 228
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, 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.

35

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-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 Three Months
Ended