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New Horizon Aircraft (HOVR) investor relations material
New Horizon Aircraft Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Significant progress on the hybrid-electric Cavorite X7 eVTOL, with prototype assembly targeted for 2026 and initial testing in early 2027.
Focused on all-weather, IFR-capable aircraft for both civilian and military markets, with plans to sell aircraft and license technology.
Strategic partnerships with Pratt & Whitney and McLaren Applied to advance propulsion and systems integration.
Awarded a $10.5 million non-dilutive INSAT grant for sustainable aviation technology.
Engineering team doubled year-over-year, with further expansion planned to support development.
Financial highlights
Ended the quarter with over $24 million in cash, the strongest liquidity position to date.
Net loss of $8.7 million for the quarter and $19.6 million for the six months ended November 30, 2025, driven by higher R&D and prototype development costs.
Raised $19.1 million through equity sales and $3.3 million from warrant exercises in the six months.
Total operating expenses for the quarter were $5.1 million, with R&D costs of $2.6 million and general/admin expenses of $2.5 million.
Shareholders’ equity rose to $14.5 million from $2.6 million over the six-month period.
Outlook and guidance
Targeting completion of the full-scale X7 prototype by end of 2026, with initial ground testing in early 2027.
Sufficient capital runway to achieve development and testing milestones through 2026, but additional financing will be required for long-term objectives.
Certification work underway, leveraging expertise from Certification Center Canada.
Operating costs expected to double over the next year as development and certification ramp up.
Focused on disciplined execution and advancing toward commercial operations before 2030.
Next New Horizon Aircraft earnings date
Next New Horizon Aircraft earnings date
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