Fly-E Group Inc. Reports 21% Drop in Net Revenues for Fiscal Year Ending March 31, 2025
Fly-E Group Inc., an electric vehicle company specializing in E-motorcycles, E-bikes, and E-scooters, reported a 21.0% decline in net revenues for the fiscal year ending March 31, 2025. The company's revenues fell from $32.2 million in 2024 to $25.4 million in 2025, reflecting a decrease of $6.8 million. The cost of revenues also decreased by 21.6%, totaling $15.0 million in 2025, down from $19.1 million the previous year. Consequently, gross profit declined by 20.3%, from $13.1 million in 2024 to $10.5 million in 2025. Fly-E Group Inc. continues to focus on encouraging eco-friendly transportation through its Fly E-Bike brand, offering a range of electric transportation solutions. The company did not provide a specific outlook or guidance for the upcoming fiscal year in this report.
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