Fly-E Group swings to Q1 net loss of $0.2M; revenue flat at $7.9M

Fly-E Group, Inc.

Net loss of $0.2M vs net income of $0.4M YoY; diluted EPS -$0.01 vs +$0.02.
Revenue $7.9M (+0.4% YoY); gross profit $3.1M (+13.8%); gross margin 39.4% vs 34.7%.
Operating expenses surged 60.9% to $3.1M, driven by store expansion and IPO-related costs.
EBITDA fell to $57k from $820k; cash $4.5M vs $1.4M a year ago.
Launched NYC e-bike rental program; plans to expand to Miami, Toronto, LA.

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