Fly-E Group, Inc. — Cyborg Score 3/10

Strategic Profile

The company has pursued wholesale expansion with dealer network growth contributing to 42.3% revenue growth in that segment. A new rental services business achieved a 79.8% gross margin, contributing to overall margin improvement to 42.4%. However, retail sales faced headwinds with a 45.2% decline primarily due to safety concerns following lithium-battery accidents.

Cyborg Score Rationale

Net revenues decreased 32.3% to $5.3 million from $7.9 million year-over-year in Q1 FY2026. Volatility has increased from 44% to 76% over the past year. The company received a Nasdaq Listing Qualifications notice on November 25, 2025 for failing to timely file Form 10-Q, with 60 days to submit a compliance plan.

Top Insights

• Safety concerns from lithium-battery incidents severely impacted retail sales (down 45.2% YoY)
• Wholesale revenue surge (42.3% growth) and high-margin rental services offer strategic diversification opportunities
• Stock experienced 87% crash in August 2025 following pump-and-dump allegations, with ongoing class action litigation
• Nasdaq compliance filing delinquency creates near-term delisting risk if corrective actions not resolved by May 2026

Named Competitors

• Electric Scooter/Bike Rental Platform — Leading micro-mobility rental service
• Personal Electric Vehicles — Global leader in scooter and balance vehicle technology
• Electric Scooter Manufacturer — Established consumer electric scooter brand

Recent Developments

• (December 2025) New retail store opening in Boston, Massachusetts expanding North American footprint
• (August 2025) Severe stock collapse following pump-and-dump scheme allegations, triggering multiple class action lawsuits
• (June 2025) Q1 FY2026 results showed revenue decline with retail sales weakness offset by wholesale growth and rental margin strength
• (November 2025) Nasdaq Listing Qualifications notice issued for Form 10-Q filing delinquency

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