Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 55

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 55
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|:----|-----:|:-----------|
| Sales-Retail       |     | $                            | 26,389,720 |     | $ | 18,844,921 |     | $ |  7,544,799 |     | 40.0 | %          |
| Sales-Wholesale    |     | $                            |  5,815,946 |     | $ |  2,930,016 |     | $ |  2,885,930 |     | 98.5 | %          |
| Total Net Revenues |     | $                            | 32,205,666 |     | $ | 21,774,937 |     | $ | 10,430,729 |     | 47.9 | %          |

Our net revenues were $32.2 million for the year ended March 31, 2024, an increase of $10.4 million, or 47.9%, from $21.8 million for the year ended March 31, 2023. The increase in our net revenues was driven primarily by the increase of the average sale price of our EVs by $19 or 2.0%, from $941 in the year ended March 31, 2023 to $960 in the year ended March 31, 2024, and our sales volume of EVs increased by 7,389 units, from 11,263 units in the year ended March 31, 2023 to 18,652 units in the year ended March 31, 2024.

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Our retail sales revenue increased by $7.5 million, or 40.0%, from $18.8 million for the year ended March 31, 2023 to $26.4 million for the year ended March 31, 2024. Our wholesale revenue increased by $2.9 million, or 98.5%, from $2.9 million for the year ended March 31, 2023 to $5.8 million for the year ended March 31, 2024. Cost of Revenues Cost of revenues increased by $5.6 million, or 41.6%, from $13.5 million for the year ended March 31, 2023, to $19.1 million for the year ended March 31, 2024. The increase in cost of revenues was primarily attributable to the increase in sales volume mentioned above and increase in