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Fly-E Group, Inc. Financial Results for Fiscal Year 2026

On July 23, 2026, Fly-E Group, Inc. (Nasdaq: FLYE) unveiled its financial results for the fiscal year ended March 31, 2026. The company, a key player in the electric vehicle sector, which designs, sells, and rents smart electric motorcycles, bikes, and scooters, faced significant challenges in a shifting market landscape.

Financial Overview

Fly-E reported net revenues of $19.1 million for FY 2026, a sharp decline from $25.4 million in FY 2025, representing a decrease of 25%. The dip was largely due to a significant drop in sales volume, which fell from 58,765 units in the previous year to 42,101 units. The decline was compounded by promotional pricing strategies aimed at clearing aged inventory, reflecting a proactive response to changing consumer demands.

In terms of profitability, the gross profit for FY 2026 stood at $4.7 million, down from $10.5 million the year prior, resulting in a gross margin of 24.4%, a notable decline from 41.1% in FY 2025. The increased cost of revenues and a shift in sales channel mix contributed to this drop, with higher wholesale sales, typically generating lower margins, becoming a larger portion of total sales. The financial summary also indicated a net loss of $9.3 million, compared to $5.3 million in FY 2025, reflecting the ongoing pressures on the company's financial health.

Strategic Response and Outlook

In response to these challenges, CEO Andy Ou emphasized that FY 2026 represented a critical transition for Fly-E, focusing on optimizing retail presence and enhancing administrative efficiency. The company aims to rebuild consumer trust through improved product safety measures and innovative solutions, such as their battery swap system and Go Fly app. Furthermore, there’s been a positive shift in the revenue mix, particularly in wholesale and rental services, which saw a remarkable year-over-year growth.

Moving forward, Fly-E is committed to refining its service portfolio and enhancing its online retail presence. This strategic framework aims at establishing a more resilient and efficient company capable of driving sustainable long-term growth despite recent setbacks.

Detailed Financial Results

• - Net Revenues: $19.1 million in 2026 vs. $25.4 million in 2025
• - Sales Volume: 42,101 units sold in 2026 vs. 58,765 units in 2025
• - Gross Profit: $4.7 million in 2026 vs. $10.5 million in 2025
• - Net Loss: $9.3 million in 2026 vs. $5.3 million in 2025
• - Basic and Diluted Losses per Share: $8.38 in 2026 vs. $21.95 in 2025
• - EBITDA: -$6.3 million in 2026 vs. -$3.9 million in 2025

Conclusion

Fly-E Group, Inc. has navigated a tumultuous year marked by market fluctuations and challenges in consumer confidence. Nevertheless, the company is proactively adapting to the changing landscape, as evidenced by its strategic initiatives and restructuring efforts. By investing in innovation and focusing on safety, Fly-E aims to foster a revitalized growth trajectory for the future, all while promoting sustainable and eco-friendly transportation solutions globally.

For further insights on the company's offerings and strategic direction, visit Fly-E Group’s official website.