Fly-E Group Reports Q1 Loss and Revenue Decline
Fly-E Group (NASDAQ:FLYE) reported a significant loss in its first-quarter financial results, with GAAP earnings per share of -$2.41 on revenue of $2.7 million, representing a 49.1% year-over-year decline. The company's gross profit dropped to $0.3 million from $2.3 million last year, and the gross margin fell sharply to 10.9%, down from 42.4%. Additionally, Fly-E Group recorded a net loss of $3.9 million compared to $2.0 million in the same period last year. The company's cash reserves also declined significantly, with only $60 thousand remaining as of June 30, 2026, down from $0.3 million on March 31, 2026. These results highlight ongoing financial challenges for Fly-E Group and raise concerns about its ability to sustain operations without additional funding or strategic adjustments.
Tickers: $FLYE