Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 226

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1A
Chunk 226
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 fee of Fly E-Bike app and the increasing maintenance fee of Go Fly App. There were settlement
payments of $1.0 million for the year ended March 31, 2025, in connection with the UL Litigation.

Income Tax Provisions  

Income taxes provision was $0.3 million for the
year ended March 31, 2025, a change from $1.2 million income tax provision for the year ended March 31, 2024. This change was due
to our pre-tax loss for the year ended March 31, 2025.

Net Income (Loss)

Net loss was $5.3 million for the year ended
March 31, 2025, a change of $7.2 million, or 379.2%, from net income of $1.9 million for the year ended March 31, 2024, which was
mainly attributable to the reasons discussed above.

EBITDA

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

    For the Year Ended March 31, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    (Loss) Income from Operations 
    $(5,291,159) 
    $1,895,222  
    $(7,186,381) 
     (379.2)%
  
    Income Tax provision 
     336,166  
     1,182,933  
     (846,767) 
     (71.6)%
  
    Depreciation 
     631,280  
     272,708  
     358,572  
     131.5%
  
    Interest Expenses 
     405,615  
     152,050  
     253,565  
     166.8%
  
    Amortization 
     65,091  
     1,648  
     63,443  
     3849.7%
  
    EBITDA 
    $(3,853,007) 
    $3,504,561  
    $(7,357,568) 
     (209.9)%
  
    Percentage of Revenue 
     (15.2)% 
     10.9%