Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 281

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 2
Chunk 281
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,258  
     180,910  
     236,348  
     130.6%
  
    Interest Expenses 
     1,085,771  
     91,877  
     993,894  
     1081.8%
  
    Amortization 
     54,761  
     8,846  
     45,915  
     519.0%
  
    EBITDA 
    $(2,237,230) 
    $(1,134,213) 
    $(1,103,017) 
     97.2%
  
    Percentage of Revenue 
     (24.2)% 
     (7.7)% 
        
     (16.5)%

Before interest expenses, income tax, depreciation,
and amortization, for the six months ended September 30, 2025, our net loss was $2.2 million, an increase of $1.1 million, compared
to net loss of $1.1 million for the six months ended September 30, 2024, which was mainly attributable to the decrease in revenue,
decrease in selling and general and administrative expense described above. The ratio of EBITDA to revenue was negative 24.2% and 7.7%
for the six months ended September 30, 2025 and 2024, respectively.

Liquidity and Capital Resources

As of September 30, 2025, we had cash of $2.5
million. We had working capital of $8.1 million and $1.3 million as of September 30, 2025 and March 31, 2025, respectively. We had
net loss of $3.7 million and $1.3 million for the six months ended September 30, 2025 and 2024, respectively. During the six months
ended September 30, 2025, net cash used in operating activities of the Company was approximately $7.7 million. As of September 30, 2025,
the Company had a current portion of contractual obligation of approximately $7.8 million, including short-term loan payables of approximately
$5.5 million, current portion of long-term loan payables of approximately $0.2 million, accrued UL penalty of $0.2 million and current
portion of operating lease liabilities of approximately $1.8 million