Fly-E Group, Inc. reported fiscal 2026 revenue of $19.06M and a net loss of ($9.26M), compared with $25.43M in revenue and a net loss of ($5.29M) a year earlier; diluted loss per share was ($8.38) in 2026. The results reflect a significant shift in channel mix, inventory actions and retail consolidation implemented during the year.
Financial Highlights
| MetricCurrent yearPrior yearYoY change | Revenue¹$19.06M$25.43M(25%) | Net income²($9.26M)($5.29M)(75%) | Diluted EPS³($8.38)($21.95)61.8% |
¹ Reported as “Revenues”. ² Reported as “Net Loss”. ³ Reported as “Losses per Share*”.
Business Highlights
- Revenue trend and channel shift: Net revenue fell 25% year over year; retail sales dropped about 68% while wholesale increased roughly 227%, indicating a marked shift toward wholesale channels.
- Product and inventory actions: Management reduced prices to clear aged inventory, recorded inventory reserves and clearance losses, and streamlined product offerings.
- Retail footprint and operations: The U.S. retail network was consolidated to four stores after selling or closing more than 24 locations; the company emphasized online and rental channels.
- Technology and services: Launched the GO FLY rental app in September 2024 and completed an ERP implementation in May 2025; work continues on customer management applications.
- Safety and regulatory impacts: Lithium-battery safety concerns and a UL trademark settlement affected consumer demand, product compliance and operations.
Original SEC Filing:
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