New Horizon Aircraft Financials
This page shows New Horizon Aircraft (HOVR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A financing-driven asset build dominates the picture, while core operations remain cash-consuming and thinly liquid for now.
Reported profit diverged from operating reality: the later FY2023 filing shows$8.6M of net income alongside an-$1.7M operating loss, and operating cash flow was also negative, so the year's bottom line did not come from the underlying business running at a profit. At the same time,$118.8M of financing inflow was almost entirely matched by$116.7M of investing outflow, which means the balance sheet expanded through capital transactions rather than through a self-funding business engine.
Liquidity is the tighter constraint than asset size: despite
Between the June and December FY2023 balance sheets, negative equity moved from
Financial Health Signals
New Horizon Aircraft does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
For every $1 of reported earnings, New Horizon Aircraft used $0.25 of operating cash (-$2.1M OCF vs $8.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
New Horizon Aircraft reported $8.6M in net income in fiscal year 2023.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Cash & Balance Sheet
New Horizon Aircraft held $16K in cash as of fiscal year 2023; long-term debt is not reported for that period.
Not reported for fiscal year 2023.
Not reported for fiscal year 2023.
Margins & Returns
None of these metrics is reported for fiscal year 2023.
Capital Allocation
None of these metrics is reported for fiscal year 2023.
HOVR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY23 | FY23 |
|---|---|---|---|
| Operating Income | N/A | -$1.7M | N/A |
| Income Tax | N/A | $1.1M | N/A |
| Net Income | -$4.8M | $8.6M | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Interest Expense, EPS (Diluted).
TTM is the trailing twelve months, Q2 FY2023 through Q1 FY2024, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOVR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY23 | FY23 |
|---|---|---|
| Total Assets | $122.1M | $120.4M |
| Current Assets | $122K | $502K |
| Cash & Equivalents | $16K | $228K |
| Accounts Receivable | N/A | $15K |
| Total Liabilities | $128.9M | $123.4M |
| Current Liabilities | $986K | $161K |
| Total Equity | -$6.9M | -$3.0M |
| Retained Earnings | -$6.9M | -$3.0M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
HOVR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY23 | FY23 |
|---|---|---|---|
| Operating Cash Flow | N/A | -$2.1M | N/A |
| Investing Cash Flow | N/A | -$116.7M | N/A |
| Financing Cash Flow | N/A | $118.8M | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q2 FY2023 through Q1 FY2024, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOVR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY23 | FY23 |
|---|---|---|
| Return on Assets | 7.1% | N/A |
| Current Ratio | 0.12 | 3.12 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, FCF Margin.
Note: Shareholder equity is negative (-$6.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.12), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Where New Horizon Aircraft Ranks
Frequently Asked Questions
Is New Horizon Aircraft profitable?
Yes, New Horizon Aircraft (HOVR) reported a net income of $8.6M in fiscal year 2023.
What is New Horizon Aircraft's operating cash flow?
New Horizon Aircraft (HOVR) recorded an outflow of $2.1M in operating cash flow during fiscal year 2023, representing cash used by core business activities.
What are New Horizon Aircraft's total assets?
New Horizon Aircraft (HOVR) had $122.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What is New Horizon Aircraft's current ratio?
New Horizon Aircraft (HOVR) had a current ratio of 0.12 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.
What is New Horizon Aircraft's return on assets (ROA)?
New Horizon Aircraft (HOVR) had a return on assets of 7.1% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.
What is New Horizon Aircraft's cash runway?
Based on fiscal year 2023 data, New Horizon Aircraft (HOVR) had $16K in cash against an annual operating cash burn of $2.1M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is New Horizon Aircraft's debt-to-equity ratio negative or not reported?
New Horizon Aircraft (HOVR) has negative shareholder equity of -$6.9M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
Are New Horizon Aircraft's earnings high quality?
For every $1 of reported earnings, New Horizon Aircraft (HOVR) used $0.25 of operating cash (-$2.1M OCF vs $8.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.