FLY-E GROUP Revenue Drops 53% to $2.6M in Q3 FY2026 as Net Loss Widens

FLY-E GROUP, INC., a Delaware-incorporated company, reported revenue of $2.65 million for the quarter ending December 31, 2025, a 53% decline from $5.68 million in the same period last year. The company recorded a net loss of $1.92 million for the quarter, nearly triple the $684,487 loss posted in the prior-year period. Read more earnings reports.

For the nine months ending December 31, 2025, total revenue fell 42% to $11.89 million from $20.38 million in the comparable period of fiscal 2025. The company's net loss for the nine-month period widened to $5.71 million from $2.01 million a year earlier.

Gross profit for the December quarter came in at $1.05 million, down 59% from $2.56 million in the prior-year quarter. Gross margin compressed to 39.6% from 45.1% as cost of revenue fell less sharply than top-line sales. For the nine-month period, gross profit totaled $4.29 million versus $8.57 million in the prior year.

Operating expenses for the December quarter reached $2.61 million, down from $3.50 million a year earlier. The company reported an operating loss of $1.56 million for the quarter, wider than the $940,279 operating loss in the prior-year period. For the nine months, the operating loss expanded to $4.11 million from $2.22 million.

Cash and restricted cash stood at $295,674 as of December 31, 2025, down from $840,102 at the end of March 2025 and $1.37 million at December 31, 2024. Cash used in operations totaled $13.97 million for the nine-month period compared to $9.41 million in the prior year. Cash from financing activities provided $15.69 million during the nine months, up from $12.23 million a year earlier.

Total assets as of December 31, 2025 were $33.96 million, up slightly from $33.71 million at March 31, 2025. Current assets increased to $20.67 million from $14.00 million over the same period, while property, plant and equipment declined to $6.00 million from $7.29 million. Inventory dropped to $5.08 million from $6.40 million.

Total liabilities fell to $12.96 million as of December 31, 2025 from $23.87 million at March 31, 2025. Current liabilities decreased to $7.29 million from $12.70 million. Long-term debt stood at $1.98 million compared to $2.07 million at the prior fiscal year-end.

Stockholders' equity more than doubled to $20.99 million as of December 31, 2025 from $9.83 million at March 31, 2025. Additional paid-in capital increased to $27.83 million from $10.99 million. Retained deficit widened to $6.60 million from $895,510. The company had 1,632,386 common shares outstanding as of December 31, 2025 compared to 245,875 shares at the end of March 2025.

For the December quarter, basic and diluted loss per share were $1.18 on 1,632,391 weighted average shares outstanding, compared to a loss of $2.78 per share on 245,875 shares in the prior-year quarter. For the nine-month period, loss per share was $6.14 on 930,332 weighted average shares versus $8.38 on 239,466 shares a year earlier.

Financial Summary

Balance Sheet Highlights