Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 256

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 2
Chunk 256
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Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations   

The following discussion of our financial condition and results of
operations should be read in conjunction with the unaudited condensed consolidated financial statements and the notes thereto included
in this quarterly report. The following discussion contains forward-looking statements. Actual results could differ materially from the
results discussed in the forward-looking statements. See “Item 1A. Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements”.

Overview

We are an EV company that is principally engaged
in designing, installing, selling and renting E-motorcycles, E-bikes, E-scooters and related accessories under the brand “Fly E-Bike.”
At Fly E-Bike, our commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately
contributing towards building a more environmentally friendly future.

Fly E-Bike was established in 2018 with its first
store opened in New York. Our business has grown rapidly since then and we are now one of the leading providers of E-bikes for food
delivery workers in New York City. As of December 16, 2025, we have 13 stores, including 12 retail stores in the U.S and one
retail store in Canada. The Company offers rental services from selected locations in New York, Toronto, and Los Angeles. We also operate
one online store at flyebike.com, focusing on selling E-motorcycles, E-bikes and E-scooters, serving customers in the United States.
In addition, we plan to open a second online store focusing on selling gas bikes in the future. We plan to extend our business into South
America and Europe in the future.

We have a diversified product portfolio that
is designed to satisfy the various demands of our customers and address different urban travel scenarios. Additionally, we aim to refresh
our product offerings continuously to align with evolving market trends. As of December 16, 2025, we offered 27 E-motorcycle products,
37 E-bike products and 38 E-scooter products.

We also operate a rental program to meet the
increasing market demand for safe, UL-certified e-bikes in compliance with New York State regulations. The rental service, now available
in New York City, and Los Angeles via the Go Fly rental service mobile app and select Fly E-Bike stores, provides users with a flexible
and affordable