Fly-E Group, Inc. (NASDAQ: FLYE)

Fly-E Group, Inc. designs, installs and sells smart electric motorcycles, electric bikes, electric scooters and related accessories under the brand Fly E-Bike.

The company’s mission is to encourage eco-friendly transportation integration into active lifestyles to support a more environmentally friendly future.

Founded in 2018 with its first store in New York, Fly-E Group, Inc. now operates 20 retail locations including 19 in the United States and one in Canada.

In addition to physical stores, the company offers rental services from selected sites in New York, Toronto, and Los Angeles and maintains an online store at flyebike.com serving customers nationwide.

As of July 15, 2025, the product portfolio comprises 27 e-motorcycle models, 36 e-bike models, and 38 e-scooter models.

The firm continues to expand its footprint by planning additional stores in underserved urban corridors and exploring opportunities in South America and Europe.

Fly-E Group, Inc. generates revenue primarily from retail sales, wholesale sales, and rental services.

For the fiscal year ended March 31, 2025, net revenues totaled approximately $25.4 million, of which retail sales contributed about $21.7 million, wholesale sales contributed about $3.5 million, and rental services contributed $171,867.

For the fiscal year ended March 31, 2024, net revenues were approximately $32.2 million, consisting of retail sales of about $26.4 million and wholesale sales of about $5.8 million.

The company’s revenue model benefits from diversified channels including direct consumer sales business to business distribution and short term rental offerings.

The company operates through the following segments: E-motorcycles, E-bikes, and E-scooters.

Each segment encompasses distinct product lines designed to meet specific urban transportation requirements.

• E-motorcycles: This segment offers 27 different models including e-mopeds, e-motorcycles, and e-tricycles with travel ranges of 20 to 80 miles per charge, top speeds up to 59 miles per hour, and payload capacities ranging from 185 to 1,239 pounds.

• E-bikes: This segment provides 36 models ranging from city e-bikes, foldable e-bikes, and standard e-bikes with travel ranges of 15 to 60 miles per charge, top speeds up to 32 miles per hour, and payload capacities between 180 and 250 pounds.

• E-scooters: This segment includes 38 models with travel ranges of 15 to 45 miles per charge, top speeds up to 40 miles per hour, weight capacities from 250 to 330 pounds, and features such as hydraulic disc brakes, regenerative braking, and anti lock braking systems.

Fly-E Group, Inc. holds a niche position as a leading provider of electric two-wheelers for food delivery workers in New York City, competing with established brands such as Trek Bicycle Corporation, Specialized Bicycle Components Inc, and Rad Power Bikes Inc.

The company differentiates itself through early market entry dating back to 2018, strong brand recognition among delivery personnel, and a focus on user centric innovations such as removable batteries and swap stations.

Additional competitive advantages include a vertically integrated supply chain that sources components from the United States and China, and an in house assembly facility in Maspeth, New York that ensures quality control.

The firm’s emphasis on safety compliance and customization for heavy duty usage helps it maintain loyalty among professional riders.

The majority of Fly-E Group, Inc.'s customers are food delivery workers in New York City representing approximately 72 percent of its client base.

The company also serves individual commuters, recreational riders, and rental customers in New York, Toronto, Los Angeles, and throughout its United States online store.

Additional customers include small businesses that purchase fleets for delivery operations and municipalities that explore electric micromobility programs.