Fly-E Group’s quarterly Revenue fell 48.4% to $2,748,140 from $5,328,198, while net loss widened 96.1% to $3,939,083 and loss per share was $2.41. The results matter to investors because Gross Profit of $299,864 was below total operating expenses of $3,836,135, leaving a $3,536,271 operating loss.

Key Highlights

  • Fly-E Group’s net loss widened 96.1% to $3,939,083 from $2,008,648.
  • General and administrative expenses increased 37.0% to $3,350,671.
  • Revenue decreased 48.4% to $2,748,140 from $5,328,198.

Revenue and Gross Profit

Gross profit fell to $299,864 from $2,261,375. Total operating expenses reached $3,836,135. General and administrative expenses moved in the opposite direction, rising 37.0% from $2,444,933 to $3,350,671. Total operating expenses increased 1.9% to $3,836,135 from $3,766,150. Fly-E Group (NASDAQ: FLYE) reported a loss from operations of $3,536,271, compared with $1,504,775 in the comparable period.

Loss Before Income Taxes and Net Loss

Other expenses, net, increased to $122,395 from $7,898, a 1,449.7% rise. Loss before income taxes reached $3,850,083, compared with $2,058,907. Income tax expense was $89,000, while the comparable period showed an income tax benefit of $50,259. Net loss rose by $1,930,435, or 96.1%, to $3,939,083. Total comprehensive loss was also $3,939,083, compared with $1,986,294, after the prior period included a foreign-currency translation adjustment of $22,354.

Per-Share Loss And Share Count

The weighted-average number of common shares used for basic and diluted calculations was 1,632,351, compared with 334,839.