New Horizon Aircraft Ltd. reports company developments tied to its work as an advanced aerospace company developing a hybrid-electric vertical takeoff and landing aircraft for regional air mobility. News commonly centers on the Cavorite X7 program, including engineering progress, prototype and full-scale aircraft development, projected operating characteristics, and the company’s intended markets among regional operators, emergency service providers, and military customers.
Coverage also includes financial and operating results, management presentations, industry-event participation, collaborations supporting aircraft development, and capital actions used to fund the Cavorite X7 program and general corporate purposes.
Horizon Aircraft (NASDAQ:HOVR) reported Q2 fiscal 2026 results and a business update for the period ended November 30, 2025. Key items: full-scale Cavorite X7 prototype assembly expected in 2026 with initial testing targeted in early 2027; > $24 million cash on hand to fund operations through 2026; receipt of an estimated $10.5 million non-dilutive INSAT grant for an all-weather eVTOL project; increased R&D as full-scale production advances; and engineering headcount doubled year-over-year with plans to double again by end-2026.
The company will host a conference call on January 14, 2026 at 8:30 a.m. ET and will post a webcast archive on its investor site.
Horizon Aircraft (NASDAQ:HOVR) will release its fiscal second quarter 2026 financial results on January 14, 2026 at 8:30 AM EST. Management will discuss the results and additional business and strategic information during a live conference call and webcast.
Investors can join by phone (North America: 888-506-0062; International: 973-528-0011; Access Code: 953458) or via the live webcast on Horizon Aircraft's investor relations site at https://ir.horizonaircraft.com/events-presentations. A replay will be available after the call.
Shareholders are invited to submit questions to hovr@fnkir.com by Friday, January 9, 2026; investors who submit questions will be added to the IR mailing list.
Horizon Aircraft (NASDAQ:HOVR) announced a partnership with Motion Applied to develop a custom motor drive inverter for the hybrid-electric VTOL Cavorite X7 on December 4, 2025. Motion Applied will design, manufacture, and test a compact air-cooled silicon carbide inverter based on its MCU-X platform that converts DC battery power to AC for the vertical lift motors.
The inverter is stated to weigh less than 3kg and aims to improve power efficiency, reduce cooling needs, and increase power density and range as Horizon moves toward a full-scale prototype and aircraft certification.
Horizon Aircraft (NASDAQ:HOVR) announced on November 26, 2025 that test pilot-astronaut Jameel Janjua joined its Board of Directors.
Janjua brings expertise in experimental test flight, military operations, aerospace engineering and business growth, with more than 5,500 flight hours in over 65 aircraft, service as a Royal Canadian Air Force fighter pilot and instructor at USAF Test Pilot School, and current work as a test pilot for Virgin Galactic.
The company said his experience will support Horizon as it builds a full-scale prototype of the Cavorite X7 and prepares for the aircraft certification process.
Horizon Aircraft (NASDAQ:HOVR) said its Cavorite X7 is being developed to operate under IFR (fly in clouds) and to certify for Flight Into Known Icing (FIKI), capabilities that the company says are rare among modern VTOLs and held mainly by heavyweight helicopters.
The company received a non-dilutive grant from Canada’s INSAT program to support all-weather vertical propulsion work, including ice-phobic and electrothermal coatings, and says it is building a full-scale aircraft while increasing its engineering team by 50% this year.
Horizon Aircraft (NASDAQ:HOVR) hosted Brigadier General Brendan Cook, RCAF Director General Space, Combat and Support, at its Lindsay, Ontario hangar on November 6, 2025 for a tour and briefing on the hybrid eVTOL Cavorite X7.
BGen Cook reviewed the X7's hybrid-electric architecture and cited potential defence and dual-use roles including contested logistics, MEDEVAC, remotely piloted and loyal wingman missions, and maritime surveillance. He also noted potential NATO collaboration opportunities. Horizon said the visit signals growing interest in Canadian aerospace innovation for defence applications.
Horizon Aircraft (NASDAQ:HOVR) announced management will attend multiple industry conferences in November and December 2025, offering investor and partner access for meetings and discussions.
Key events and dates: Helicopter Association Canada Annual Conference & Trade Show (Abbotsford, B.C., Nov 4-6, 2025) with 1x1 meeting availability; Corporate Jet Investor – Miami 2025 (Miami, Nov 4-6, 2025) with 1x1 meeting availability; MINERVA (Ottawa, Dec 2, 2025) with informal discussions; and OAC Aerospace Unplugged & AGM 2025 (Toronto, Dec 9, 2025), which Horizon sponsors and where management will participate in informal discussions.
Horizon Aircraft (NASDAQ:HOVR) was awarded a non-dilutive $2.0 million INSAT grant to support Project CRYSTAL, an estimated $10.5 million program to develop an all-weather eVTOL vertical propulsion and ice-protection system in partnership with Certification Center Canada (3C) and the University of Toronto.
Phase one will characterize ice-detection and protective coatings from UofT; phase two will test viability on Horizon's hybrid eVTOL, the Cavorite X7. Horizon plans to pursue Flight Into Known Icing (FIKI) certification for the X7. Management cites projected benefits including up to 75% lower cost per kilometer versus helicopters and an asserted annual CO2e reduction of 2.6 billion pounds if X7s replace 4% of the global helicopter fleet.
Horizon Aircraft (NASDAQ:HOVR) announced on October 14, 2025 a signed purchase agreement to equip its full-scale hybrid eVTOL, the Cavorite X7, with Pratt & Whitney Canada's PT6A turboprop engine.
The company says the PT6A's proven modular design will simplify installation and maintenance, enable higher speed and range versus purely electric eVTOLs, and reduce hydrocarbon emissions by up to 30% versus comparable conventional aircraft. The deal is presented as strengthening Horizon's development program and Canada’s advanced air mobility presence.
Horizon Aircraft (NASDAQ:HOVR) reported first quarter fiscal 2026 results for the three months ended August 31, 2025, and provided a business update on its hybrid eVTOL program.
Key points: Horizon completed a fan-in-wing forward transition flight in May 2025 and is building a full-scale Cavorite X7 prototype targeted to be ready for initial testing in 18 months. In Q1 2026 the company completed platform-level architecture and fabricated main wing propulsion units that are under active testing. Management says Horizon has >18 months of working capital, streamlined operations, prioritized engineering spending, ongoing non-dilutive government funding, and added technical talent. Company focus for Q2 FY2026 is full-scale power and aerodynamic development, technical partnerships, and supply chain expansion.