FLYE Fly-E Group, Inc.

Overview and Growth

Fly-E Group, Inc. generated $19.06M of revenue in fiscal 2026, with net loss of $9.26M and an operating cash outflow of $13.85M. The $19.06M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Compared with $25.43M in fiscal 2025, revenue decreased 25.0%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$8.38, which connects the reported earnings outcome with the company’s diluted share count. At period end, total assets were $29.49M, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.65x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $4.66M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 24.4% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced a $6.44M operating loss before non-operating and tax effects. An operating margin of -33.8% reflected costs exceeding revenue-level gross profit by 33.8% of sales. The company ended the period with a net loss of $9.26M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 48.6% after all recognized items. The pretax result was a loss of $8.93M, establishing the deficit before tax effects. Pretax margin was -46.8%, reflecting a pre-tax loss equal to 46.8% of revenue. Income tax expense totaled $328.68K, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 53.1%, placing the bottom-line deficit against shareholder capital. The loss-to-assets relationship was 31.4%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

The company held $29.49M of assets against $12.05M of liabilities and $17.44M of equity, revealing how the asset base was financed. Current assets were $16.81M against $6.80M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 2.47x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $265.24K, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 3.9% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $6.07M of total debt at period end, which frames its leverage and debt-service burden. The debt-to-equity relationship was 0.35x, showing how much debt the company carried for each unit of book equity. Debt represented 20.6% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 40.9%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 0.9%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 12.5% from $33.71M in fiscal 2025, leaving current total assets lower year over year. Against $9.83M of equity in fiscal 2025, the current book-equity balance moved 77.4% and ended higher.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $13.85M, showing that operations absorbed cash during the period. Capital spending of $74.61K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $13.92M cash deficit after capital spending. The free-cash-flow deficit equaled 73.0% of revenue, showing the post-investment cash shortfall relative to sales. The cash deficit after capital spending represented 47.2% of the period-end asset base.

Based on the annual report for the fiscal year ending Mar 31, 2026. Analysis generated Oct 21, 2026.