Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 61

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 61
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 revenues decreased by 19.0%, from $14.6 million for the nine months ended December 31, 2023, to $11.8 million for the nine months ended December 31, 2024. The decrease in cost of revenues was primarily attributable to more favorable pricing obtained from our suppliers, particularly for batteries, as well as a reduction in battery sales volume, as discussed previously. These factors collectively contributed to the overall decrease in cost of revenues. The unit cost for battery decreased by 25%, from $121 in the nine months ended December 31, 2023, to $91 in the nine months ended December 31, 2024.

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Gross Margin The following table shows our gross profit and gross margin for the nine months ended December 31, 2024 and 2023:

|              |     | For the Nine Months Ended December 31, 
 2024                                   |           |   |     |      2023 |   |     | Change   |   |     | Percentage 
 Change     |    |
|:-------------|:----|:---------------------------------------|----------:|:--|:----|----------:|:--|:----|:---------|:--|:----|:-----------|:---|
| Gross Profit |     | $                                      | 8,565,158 |   |     | 9,456,827 |   |     | (891,669 | ) |     | (9.4       | )% |
| Gross Margin |     |                                        |      42.0 | % |     |      39.3 | % |     |          |   |     |            |    |

Gross profit for the nine months ended December 31, 2024 and 2023 was $8.6 million and $9.5 million, respectively. Gross margin was 42.0% and 39.3% for the nine months ended December 31, 2024 and 2023, respectively. The increase in gross margin was driven primarily by the decrease of the sales of our batteries by $0.9 million, from $2.9 million in the nine months ended December 31, 2023 to $2.0 million in the nine months ended December 31, 2024, and the decrease of the cost for batteries by $1.0 million, from $2.6 million in the nine months ended December 31, 2023, to