Fly-E Group (FLYE) Sees Gross Margin Improvement

Fly-E Group, Inc. (NASDAQ:FLYE) is one of the Best Performing EV Stocks So Far in 2025. The company has released its financial results for the fiscal year ended March 31, 2025, with net revenues coming at $25.4 million versus $32.2 million in FY 2024. Fly-E Group, Inc. (NASDAQ:FLYE) saw an improvement in gross margin to 41.1% (up from 40.7% in FY 2024), thanks to the cost reductions and more favorable pricing obtained from its suppliers, mainly in battery sourcing.

With an emphasis on innovation, Fly-E Group, Inc. (NASDAQ:FLYE) provides a broad and growing product portfolio of more than 100 models throughout E-motorcycles, E-bikes, and E-scooters. Its rental service, which is active in New York City, Toronto, and Los Angeles, continues to gain strong traction.

Fly-E Group, Inc. (NASDAQ:FLYE) remains well-capitalized to invest in inventory, vehicle production, and working capital. Moving forward, it remains focused on improving product safety, expanding the geographic reach, and investing in digital platforms. Fly-E Group, Inc. (NASDAQ:FLYE) remains optimistic about its growth prospects despite the decline in revenue, considering it has established a strong reputation and invested in marketing and product diversification.

Fly-E Group, Inc. (NASDAQ:FLYE) is an EV company that is mainly engaged in designing, installing, and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories.

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Disclosure: None. This article is originally published at Insider Monkey.