Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 210

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 210
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 was 79.8% and nil for the three months ended June 30, 2025 and 2024,
respectively.

Total Operating Expenses

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

    For the Three Months Ended June 30, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    Selling Expenses 
    $1,321,217  
     1,612,495  
     (291,278) 
     (18.1)%
  
    General and Administrative Expenses 
     2,444,933  
     1,532,638  
     912,295  
     59.5%
  
    Total Operating Expenses 
    $3,766,150  
     3,145,133  
     621,017  
     19.7%
  
    Percentage of Revenue 
     70.7% 
     39.9% 

Total operating
expenses were $3.8 million
for the three months ended June 30, 2025, an increase of $0.6 million, or 19.7%, compared to $3.1 million for the three months
ended June 30, 2024. The increase in operating expenses was attributable to the increase in our depreciation expense, professional fees,
product and software development expenses, as more fully discussed below.

39

Selling Expenses 

Selling expenses primarily consist of payroll expenses, rent, and
advertising expenses of retail stores. Total payroll expenses were $0.6 million for the three months ended June 30, 2025, compared to
$0.6 million for the three months ended June 30, 2024. Rent was $0.4 million for the three months ended June 30, 2025, compared
to $0.7 million for the three months ended June 30, 2024. Advertising expenses were $17,413 for the three months ended June 30,
2025, compared to $68,519 for the three months ended June 30, 2024. The decrease in rental expense was primarily due to the closures
and dispositions of retail stores during this quarter.

General and Administrative Expenses

General and
administrative expenses increased during the three months ended