Tue, Nov 19, 9:55 PM (230 days ago)
**FLY-E Group, Inc. (FLYE) 10-Q Summary for Q2 2025 (ended September 30, 2024)** FLY-E Group reported a significant decline in revenues, totaling $6.8 million for Q2 2025, down 22.1% from $8.8 million in Q2 2024. The decrease was attributed to a 5,850-unit drop in total sales volume. Gross profit also fell to $2.9 million, with a stable gross margin of 42.6%. Operating expenses surged by 54.5% to $4.1 million, driven by increased selling and administrative costs, leading to a net loss of $1.1 million compared to a profit of $0.7 million in the prior year. Cash flow from operations was negative at $9.4 million, highlighting liquidity challenges as the company navigates a current obligation of approximately $9.6 million. The company’s liquidity is under scrutiny, and management plans to address ongoing concerns through equity financing and potential debt options. With a current cash balance of $1.3 million, FLYE faces substantial doubt regarding its ability to continue as a going concern. The company is also addressing compliance issues with Nasdaq regarding stock price requirements. Future operations may be impacted by market conditions and regulatory changes in the EV sector.