New Horizon Aircraft Ltd. (HOVR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for Q1 FY2024, filed Apr 22, 2024. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HOVR SEC filings page.
This page shows New Horizon Aircraft Ltd. (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).
Financing-dependent balance sheet with negative equity leaves limited short-term financial flexibility.
Reported net income of$8.6M coexisted with operating cash flow of-$2.1M , so accounting earnings did not become operating cash. Financing inflows of$118.8M nearly matched investing outflows of$116.7M , pointing to funding activity—not operations—as the cash engine.
The balance sheet is thinly positioned for short-term obligations: the current ratio was 0.1x, while total liabilities of
Some figures from recent filings were inconsistent and were omitted from this summary.
Financial Health Signals
New Horizon Aircraft Ltd. 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 Ltd. 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 Ltd.'s EBITDA was -$1.2M in Q1 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 993.0% from the same quarter a year earlier.
New Horizon Aircraft Ltd. reported -$5.3M in net income in Q1 2024. Against the prior quarter it is down 617.0%.
New Horizon Aircraft Ltd. earned -$0.45 per diluted share (EPS) in Q1 2024. This represents a decrease of 1025.0% from the same quarter a year earlier.
Not reported for Q1 2024.
Cash & Balance Sheet
New Horizon Aircraft Ltd. held $4.4M in cash as of Q1 2024; long-term debt is not reported for that period.
Not reported for Q1 2024.
Not reported for Q1 2024.
Margins & Returns
None of these metrics is reported for Q1 2024.
Capital Allocation
New Horizon Aircraft Ltd. invested $270K in research and development in Q1 2024. This represents an increase of 95.7% from the same quarter a year earlier.
Not reported for Q1 2024.
Not reported for Q1 2024.
HOVR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2410-K | Q4'2310-K | Q3'2310-Q | Q2'2310-K | Q1'2310-Q | Q4'2210-K | Q3'2210-Q | Q2'2210-K |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $270K+95.7% | N/A | N/A | N/A | $138K | N/A | N/A | N/A |
| SG&A Expenses | $989K+538.1% | N/A | N/A | N/A | $155K | N/A | N/A | N/A |
| Operating Income | -$1.3M-866.5% | N/A | -$612K-43031.5% | -$296K-27064.1% | -$130K | N/A | -$1K | -$1K |
| EBITDA | -$1.2M-993.0% | N/A | N/A | N/A | -$113K | N/A | N/A | N/A |
| Interest Expense | $15K-28.6% | N/A | N/A | N/A | $21K | N/A | N/A | N/A |
| Income Tax | N/A | N/A | $757K | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$5.3M | -$740K-92.2% | $113K+8033.9% | $1.1M+102687.1% | N/A | -$385K | -$1K | -$1K |
| EPS (Basic) | -$0.45-1025.0% | N/A | N/A | N/A | -$0.04 | N/A | N/A | N/A |
| EPS (Diluted) | -$0.45-1025.0% | N/A | N/A | N/A | -$0.04 | N/A | N/A | N/A |
| Diluted Shares (Avg) | 12M+85.5% | 5M | 5M | N/A | 6M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
HOVR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2410-K | Q4'2310-K | Q3'2310-Q | Q2'2310-K | Q1'2310-Q | Q4'2210-K | Q3'2210-Q | Q2'2210-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.8M-94.3% | $122.1M+26529.5% | $121.7M | $120.4M | $119.3M | $458K | N/A | N/A |
| Current Assets | $6.6M+741.6% | $122K+35.8% | $223K | $502K | $780K | $90K | N/A | N/A |
| Cash & Equivalents | $4.4M+3296.2% | $16K-81.7% | $68K-67.0% | $228K+5600.0% | $130K | $88K | $207K | $4K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $127K | N/A | N/A | $15K | N/A | N/A | N/A | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $23.0M-81.2% | $128.9M+29064.6% | $134.2M | $123.4M | $122.0M | $442K | N/A | N/A |
| Current Liabilities | $2.3M+1684.8% | $986K+123.0% | $1.3M | $161K | $129K | $442K | N/A | N/A |
| Non-Current Liabilities | $20.7M-83.0% | $128.0M | $133.0M | $123.3M | $121.9M | $0 | N/A | N/A |
| Total Equity | -$16.1M-495.0% | -$6.9M-42179.2% | -$12.5M-56576.0% | -$3.0M-12863.1% | -$2.7M | $16K | $22K | $24K |
| Retained Earnings | -$13.0M-378.6% | -$6.9M-78925.5% | -$12.5M | -$3.0M | -$2.7M | -$9K | N/A | N/A |
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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2410-K | Q4'2310-K | Q3'2310-Q | Q2'2310-K | Q1'2310-Q | Q4'2210-K | Q3'2210-Q | Q2'2210-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | -$1.4M-31242.8% | -$215K-135861.4% | -$239K-4184.8% | -$314K | -$4K | -$158 | -$6K |
| Depreciation & Amortization | $21K+23.5% | N/A | N/A | N/A | $17K | N/A | N/A | N/A |
| Stock-Based Compensation | $10K-37.5% | N/A | N/A | N/A | $16K | N/A | N/A | N/A |
| Investing Cash Flow | N/A | $1.1M | $0 | $0 | -$117.9M | N/A | N/A | N/A |
| Financing Cash Flow | N/A | $175K+253.1% | $0+100.0% | $206-99.9% | $118.6M | -$114K | -$27K | $239K |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
HOVR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| New Horizon Aircraft Ltd. HOVR | FY2023 | N/A | $8.6M | N/A | $102.7M | — |
| Mobilicom Limited MOB | FY2025 | $3.4M | -$23.7M | N/A | $52.9M | 40/100 |
| Optex Systems Holdings, INC OPXS | FY2025 | $41.3M | $5.1M | 12.4% | $70.9M | 79/100 |
| Draganfly Inc. DPRO | FY2023 | N/A | N/A | N/A | $184.0M | — |
| Coda Octopus Group, Inc. CODA | FY2025 | $26.6M | $4.1M | 15.6% | $119.7M | 79/100 |
| VisionWave Holdings, Inc. VWAV | FY2025 | N/A | -$6.5M | N/A | $11.6M | — |
Where New Horizon Aircraft Ltd. Ranks
Frequently Asked Questions
Is New Horizon Aircraft Ltd. profitable?
Yes, New Horizon Aircraft Ltd. (HOVR) reported a net income of $8.6M in fiscal year 2023.
What is New Horizon Aircraft Ltd.'s operating cash flow?
New Horizon Aircraft Ltd. (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 Ltd.'s total assets?
New Horizon Aircraft Ltd. (HOVR) had $122.1M in total assets as of fiscal year 2023, including both current and long-term assets.
What is New Horizon Aircraft Ltd.'s current ratio?
New Horizon Aircraft Ltd. (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 Ltd.'s return on assets (ROA)?
New Horizon Aircraft Ltd. (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 Ltd.'s P/E ratio?
New Horizon Aircraft Ltd. (HOVR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to February 29, 2024). The market capitalization is $102.7M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is New Horizon Aircraft Ltd.'s price-to-sales ratio?
New Horizon Aircraft Ltd. (HOVR) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $102.7M as of Oct 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does New Horizon Aircraft Ltd.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2023, New Horizon Aircraft Ltd. (HOVR) held $16K in cash, cash equivalents and investments, and reported an operating cash outflow of $2.1M over that year. Dividing the one by the other, the reported balance equals about 0 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is New Horizon Aircraft Ltd.'s debt-to-equity ratio negative or not reported?
New Horizon Aircraft Ltd. (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 Ltd.'s earnings high quality?
For every $1 of reported earnings, New Horizon Aircraft Ltd. (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.