Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 63

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 63
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otorcycles by $2.3 million, from $5.0 million in the nine months ended December 31, 2023, to $2.8 million in the nine months ended December 31, 2024. Total Operating Expenses The following table sets forth the components of our total operating expenses for the nine months ended December 31, 2024 and 2023:

|                                     |     | For the Nine Months Ended December 31, |       2024 |   |     |     |      2023 |   |     |     |    Change |     |     | Percentage 
     Change |   |
|:------------------------------------|:----|:---------------------------------------|-----------:|:--|:----|:----|----------:|:--|:----|:----|----------:|:----|:----|-----------:|:--|
| Selling Expenses                    |     | $                                      |  5,597,563 |   |     |     | 4,637,043 |   |     |     |   960,520 |     |     |       20.7 | % |
| General and Administrative Expenses |     |                                        |  5,184,432 |   |     |     | 2,773,626 |   |     |     | 2,410,806 |     |     |       86.9 | % |
| Total Operating Expenses            |     | $                                      | 10,781,995 |   |     |     | 7,410,669 |   |     |     | 3,371,326 |     |     |       45.5 | % |
| Percentage of Revenue               |     |                                        |       52.9 | % |     |     |      30.8 | % |     |     |           |     |     |            |   |

Total operating expenses were $10.9 million for the nine months ended December 31, 2024, an increase of $3.4 million, or 45.5%, compared to $7.4 million for the nine months ended December 31, 2023. The increase in operating expenses was attributable to the increase in our payroll expenses, rent expenses, meals and entertainment expenses, professional fees, and development expenses as we expanded our business as discussed below. Selling Expenses Selling expenses primarily consist of payroll expenses, rent, utilities expenses, and advertising expenses of retail stores. Total payroll expenses