Fly-E Group Posts $3.9M Quarterly Loss, Cash Dwindles to $60K, Loan Default Persists
FLYE sits 87% above its 52-week low of $1.36 on elevated volume (59× avg).
Summary
Fly-E Group's quarterly report shows revenue down 48%, a $3.9M net loss, cash of only $60K, and an ongoing loan default with no resolution. Going concern risk is acute.
Key Events · Earnings and Guidance · FLYE
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Revenue Collapses 48.4%
Net revenues fell to $2.7M from $5.3M a year ago, driven by an 84.3% drop in retail sales after the company shrank from 36 stores to 4.
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Net Loss Nearly Doubles
Net loss widened to $3.9M from $2.0M, with gross margin collapsing from 42.4% to 10.9% as sales shifted to lower-margin wholesale.
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Cash Drops to $60,281
Cash on hand fell from $265K at March 31 to just $60K at June 30, 2026, while current contractual obligations total $5.4M.
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Loan Default Continues
The Peapack-Gladstone forbearance expired June 30, 2026. As of September 1, the company remains in default on the $5M facility secured by substantially all assets.
Analysis · FLYE · Manufacturing
The Q1 FY2027 10-Q from Fly-E Group confirms severe financial distress. Revenue collapsed 48.4% to $2.7 million, while the net loss nearly doubled to $3.9 million. Cash on hand is just $60,281 — barely enough to cover a few days of operations. The company remains in default on its $5 million Peapack-Gladstone credit facility after the June 30, 2026 forbearance deadline passed, and the lender has reserved the right to accelerate and foreclose on substantially all assets. Management reiterates substantial doubt about its ability to continue as a going concern. A new Nasdaq deficiency notice for the late 10-Q filing adds delisting risk. The company is attempting to sell a building for $1.23 million at a $200K loss to raise cash.
How filings like this one have moved
In the 30 days to Sep 12, 2026, 42.3% of the 496 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FLYE was trading at $2.55 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $3.6M. The 52-week trading range was $1.36 to $22.00. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.