PR Newswire·Nov 13, 2026, 5:05 PM ET

Fly-E Group, Inc. Announces Second Quarter and First Half of Fiscal Year 2027 Financial Results

FLYE

Fly-E Group, Inc. reported unaudited financial results for the second quarter & first half of fiscal year 2027 ending September 30, 2026.
Second quarter net revenues decreased 33.7% to $2.6 million from $3.9 million in the prior year period.
First half net revenues decreased 42.2% to $5.3 million from $9.2 million in the prior year period.
Retail sales revenue declined significantly in both periods due to store reductions from 11 to 4 locations, promotional pricing, & lithium-ion battery safety concerns in New York.
Wholesale revenue increased 21.4% to $2.1 million in the second quarter & 33.0% to $4.2 million in the first half, driven by product purchases from stores transitioning to independent operations.
Gross margin dropped to 8.1% in the second quarter (from 25.0%) & 9.5% in the first half (from 35.1%) due to a shift toward lower-priced wholesale channels.
Total operating expenses decreased 9.8% to $1.8 million in the second quarter & 2.2% to $5.7 million in the first half, primarily from retail store downsizing.
General & administrative expenses rose 56.6% to $1.5 million in the second quarter & 42.7% to $4.8 million in the first half due to expected credit losses & litigation fees.
Net loss was $1.7 million for the second quarter & $5.6 million for the first half of fiscal 2027.
Basic & diluted losses per share were $1.07 for the quarter & $3.48 for the first half.
EBITDA was negative $1.3 million for the quarter & negative $4.7 million for the first half.
Cash balances increased to $0.5 million as of September 30, 2026, from $0.3 million as of March 31, 2026.
The company reduced sales volume by 60% in the first half, with unit sales dropping to 14,950 from 29,012 in the prior year.
Selling expenses fell 74.3% in the quarter & 68.1% in the first half due to lower payroll, rental, & utility costs from store closures.
Financial results reflect a strategic restructuring focused on stabilizing the operational network & shifting revenue mix toward wholesale.

Company: FLY-E GROUP, INC.
Keywords: FLY-E GROUP, INC.