Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 159

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 159
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 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.

37

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 June 30, 2025 and 2024

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

    For the Three Months Ended June 30, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    Revenues, Net 
    $5