FlyE Group Inc Common (FLYE) Q4 2024 Earnings Report

FlyE Group reported QQ4 2024 revenue of $8.17 million, up 53.68% year over year and 10.00% quarter over quarter, driven by stronger demand for the Fly EBike platform and continued expansion in smart mobility products. Gross profit reached $3.65 million with a margin of 44.65%, underscoring a stable product mix despite a mid-to-late-stage inventory cycle. Operating income was $1.21 million (operating margin ~14.86%), with EBITDA of $1.76 million and a net income of $0.69 million (EPS $0.028). Notably, free cash flow was modest at $0.16 million for the quarter, while cash provided by operating activities was $2.56 million, supporting capex and debt service needs in the near term.

From a balance sheet perspective, FlyE carries a sizable debt load: total debt stood at $18.47 million with a debt-to-capitalization ratio of approximately 0.73 and a long-term debt balance of $14.40 million. Cash and cash equivalents totaled $1.40 million, yielding a current ratio of 1.04 and a quick ratio of 0.34, signaling limited near-term liquidity headroom despite positive operating cash flow. The company’s asset base is anchored by $19.48 million in property, plant and equipment, and a total asset base of about $35.2 million. The earnings performance, while positive, remains highly dependent on ongoing scale-up of product volumes and favorable cost control as the company navigates capital intensity in a rapidly evolving electric mobility market.

Overall, the QQ4 2024 results reflect a meaningful step forward in revenue and profitability for FlyE, but the elevated debt burden and tighter liquidity metrics imply that execution on working capital optimization and margin preservation will be critical to sustaining growth. Investors should monitor the trajectory of operating cash flow, capital expenditure efficiency, and any steps management takes to de-leverage or manage working capital in the coming quarters.