Fly-E Group reports Q2 EPS (5c) vs. 3c last year

Reports Q2 revenue $6.8M vs. $8.8M last year. Mr. Zhou Ou, CEO, remarked, “Despite recent market challenges, we remain committed to driving growth and expanding our market presence. In the second quarter of fiscal year 2025, we held a stable gross margin above 40%, even as operating expenses increased with our efforts to add e-bike rental business. For the first half of fiscal 2025, our gross margin improved to 40.9%, up from 39.0% last year, reflecting disciplined cost management and a commitment to profitability. While we saw a dip in revenue due to external factors, these stable margins underscore the effectiveness of our approach. On the product and market side, we’re energized by the success of our recent initiatives. At October’s Electrify Expo in New York, our product lineup- featuring 11 models spanning e-bikes, e-motorcycles, and e-scooters, with three newly launched models in the e-motorcycles-drew strong interest and received highly positive feedback. Additionally, the launch of our e-bike Rental Service offers customers a flexible, affordable way to experience our products and positions us well to meet shifting consumer needs. As part of our growth strategy, we’re expanding into key markets like Miami, Los Angeles and Toronto and broaden our presence . On the technological front, we are leveraging innovation to enhance customer convenience, including ongoing development of our mobile apps designed to streamline user experiences and provide more features for our customers. Our involvement in New York City’s Trade-in Program for e-bikes and batteries is aligned with our commitment to setting high safety standards in the electric vehicle industry, helping provide UL-certified e-bikes for delivery workers. Moving forward, our dedication to innovation, safety, and superior customer experience is expected to continue to drive growth and enhance value for our shareholders.”