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Fly - E Group , Inc. Announces First Quarter of Fiscal Year 2027 Financial Results PR Newswire NEW YORK , Sept. 1 , 2026 / PRNewswire / -- Fly - E Group , Inc. ( Nasdaq : FLYE ) ( " Fly - E " or the " Company " ) , an electric vehicle company engaged in designing , installing , selling , and renting smart electric motorcycles , electric bikes , and electric scooters , today announced its financial results for the first quarter of fiscal year 2027 ended June 30 , 2026 . First Quarter of Fiscal Year 2027 Financial Summary • Net revenues were $ 2.7 million , compared to $ 5.3 million in the same period last year . • Gross profit was $ 0.3 million , compared to $ 2.3 million in the same period last year . • Gross margin was 10.9 % , compared to 42.4 % in the same period last year . • Net Loss was $ 3.9 million , compared to $ 2.0 million in the same period last year . ⚫ Basic and diluted losses per share were $ 2.41 , compared to $ 6.00 in the same period last year . Mr. Zhou ( Andy ) Ou , Chief Executive Officer of Fly - E , commented , " In the first quarter , we continue to realign our business toward a leaner and asset - light operational model . While our revenue and margin profile reflect the deliberate contraction of our direct retail footprint alongside ongoing promotional pricing to clear inventory , we grew our wholesale revenues by 46.9 % and made continued investments in technology advancement . By upgrading our operational systems and advancing our mobile applications , we are better positioned to drive efficiency and improve user experiences across our riding and rental services . Together with our focus on service quality and lean management , these efforts position Fly - E for long - term growth . " First Quarter of Fiscal Year 2027 Financial Results ( Three Months Ended June 30 , 2026 ) Net Revenues