Fly-E Group, Inc. (Nasdaq: FLYE) has announced its unaudited financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The company reported net revenues of $5.3 million, a 32.3% decrease from $7.9 million in the same period last year. This decline was primarily due to a reduction in sales volume by 6,432 units and a decrease in the average sales price of electric vehicles. The company's gross profit stood at $2.3 million, down from $3.1 million in the same period last year, although the gross margin improved to 42.4% from 39.4%. Fly-E Group reported a net loss of $2.0 million, a significant increase from the $0.2 million loss in the same period of the previous year. EBITDA was negative $1.3 million, compared to a positive $57,021 in the same period last year. In terms of business operations, Fly-E's wholesale revenue saw a year-over-year increase of 42.3%, driven by an expanded dealer network, while its rental services business achieved a gross margin of 79.8%. The company emphasized its focus on enhancing its geographic presence, product and service offerings, and maintaining rigorous product safety standards to support long-term growth in response to industry safety concerns. Fly-E aims to capitalize on the growing demand for eco-friendly mobility solutions as part of its strategic initiatives for sustainable growth.