secwatch.observer — SEC 8-K summary
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Issuer:     Fly-E Group, Inc. (FLYE)
CIK:        0001975940
Form:       8-K
Filed at:   2024-08-19T23:59:59+00:00
Accession:  0001213900-24-070438
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1975940/000121390024070438/0001213900-24-070438-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1975940/000121390024070438/ea0211492-8k_flyegroup.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-070438

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer