Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 491

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 491
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,260,557  
     (7,820,523) 
     (239.9)%
  
    Other Income (Expenses), Net 
     10,588  
     (30,352) 
     40,940  
     (134.9)%
  
    Interest Expenses, Net 
     (405,615) 
     (152,050) 
     (253,565) 
     166.8%
  
    Income Taxes Expense 
     (336,166) 
     (1,182,933) 
     846,767  
     (71.6)%
  
    Net (Loss) Income 
    $(5,291,159) 
    $1,895,222  
    $(7,186,381) 
     (379.2)%

Revenues

    For the Year Ended March 31, 

    2025  
    2024  
    Change  
    Percentage  Change 
  
    Sales-Retail 
    $21,725,817  
    $26,389,720  
    $(4,663,903) 
     (17.7)%
  
    Sales-Wholesale 
    $3,529,479  
    $5,815,946  
    $(2,286,467) 
     (39.3)%
  
    Sales-Rental services 
     171,867  
     —  
     171,867  
     100.0%
  
    Total Net Revenues 
    $25,427,163  
    $32,205,666  
    $(6,778,503) 
     (21.0)%

Our net revenues were $25.4 million for
the year ended March 31, 2025, a decrease of 21.0%, from $32.2 million for the year ended March 31, 2024. The decrease in our net
revenues was primarily driven by a decrease in sales volume by 10,846 units, from 69,611 units for the year ended March 31, 2024, to
58,765 units for the year ended March 31, 2025.

37

Our retail sales revenue decreased by $4.7 million,
or 17.7%, from $26.4