Horizon Aircraft Provides Business Update and Fourth Quarter and Full Year 2025 Results
Horizon Aircraft (NASDAQ: HOVR), a developer of hybrid electric Vertical Take-Off and Landing (VTOL) aircraft, has released its Q4 and full-year 2025 business update. The company achieved a significant milestone by completing one of the world's first successful fan-in-wing forward transition flights with their large-scale prototype in May 2025.
The company reported a strong financial position with $17 million in cash, providing 18+ months of liquidity. Horizon has strengthened its engineering team with four key hires and secured significant non-dilutive government funding grants. The company's Cavorite X7 aircraft is positioned to lead in key performance metrics including speed, range, and payload capacity.
Horizon Aircraft (NASDAQ: HOVR), sviluppatore di velivoli VTOL (decollo e atterraggio verticale) ibridi-elettrici, ha pubblicato l'aggiornamento aziendale per il quarto trimestre e l'intero anno 2025. La società ha raggiunto un importante traguardo completando, a maggio 2025, una delle prime transizioni forward con fan-in-wing riuscite al mondo sul proprio prototipo in scala reale.
L'azienda ha dichiarato una solida posizione finanziaria con 17 milioni di dollari in contanti, sufficienti per oltre 18 mesi di liquidità. Horizon ha rafforzato il team di ingegneria con quattro assunzioni chiave e ha ottenuto finanziamenti governativi non diluitivi significativi. Il velivolo Cavorite X7 è posizionato per primeggiare in metriche chiave di prestazione, tra cui velocità, autonomia e capacità di carico utile.
Horizon Aircraft (NASDAQ: HOVR), desarrolladora de aeronaves VTOL (despegue y aterrizaje vertical) híbridas eléctricas, ha publicado su actualización comercial del cuarto trimestre y del año completo 2025. La compañía alcanzó un hito importante al completar, en mayo de 2025, una de las primeras transiciones hacia adelante con fan-in-wing exitosas del mundo con su prototipo a gran escala.
La empresa informó una posición financiera sólida con 17 millones de dólares en efectivo, que proporcionan más de 18 meses de liquidez. Horizon ha reforzado su equipo de ingeniería con cuatro contrataciones clave y ha asegurado subvenciones gubernamentales significativas no dilutivas. La aeronave Cavorite X7 está posicionada para liderar en métricas clave de rendimiento, incluidas velocidad, alcance y capacidad de carga útil.
Horizon Aircraft (NASDAQ: HOVR)는 하이브리드 전기 수직이착륙(VTOL) 항공기를 개발하는 회사로, 2025년 4분기 및 연간 사업 업데이트를 발표했습니다. 회사는 2025년 5월에 대형 프로토타입으로 세계 최초 수준의 팬인윙(fan-in-wing) 전방 전환 비행 중 하나를 성공적으로 완수하는 중요한 이정표를 달성했습니다.
회사는 현금 1,700만 달러로 18개월 이상 유동성을 확보한 견실한 재무 상태를 보고했습니다. Horizon은 엔지니어링 팀을 핵심 인력 4명으로 보강했으며 비희석(non-dilutive) 정부 보조금도 확보했습니다. Cavorite X7 항공기는 속도, 항속거리, 유효 탑재량 등 주요 성능 지표에서 선도할 위치에 있습니다.
Horizon Aircraft (NASDAQ: HOVR), développeur d'aéronefs VTOL (décollage et atterrissage verticaux) hybrides électriques, a publié sa mise à jour commerciale pour le quatrième trimestre et l'ensemble de l'année 2025. La société a franchi une étape importante en réalisant, en mai 2025, l'une des premières transitions avant avec fan-in-wing réussies au monde sur son prototype à grande échelle.
L'entreprise a annoncé une situation financière solide avec 17 millions de dollars en liquidités, assurant plus de 18 mois de trésorerie. Horizon a renforcé son équipe d'ingénierie par quatre recrutements clés et obtenu des subventions gouvernementales non dilutives significatives. L'appareil Cavorite X7 est positionné pour dominer les principaux indicateurs de performance, notamment la vitesse, l'autonomie et la capacité utile.
Horizon Aircraft (NASDAQ: HOVR), ein Entwickler hybrider elektrischer VTOL-Flugzeuge (senkrechter Start und Landung), hat sein Geschäftsupdate für das 4. Quartal und das Gesamtjahr 2025 veröffentlicht. Das Unternehmen erreichte einen bedeutenden Meilenstein: Im Mai 2025 führte sein großmaßstäblicher Prototyp einen der weltweit ersten erfolgreichen fan-in-wing Vorwärtsübergangsflüge durch.
Die Gesellschaft berichtet über eine starke Finanzlage mit 17 Millionen US-Dollar in bar, was für mehr als 18 Monate Liquidität sorgt. Horizon hat sein Engineering-Team um vier Schlüsselpositionen verstärkt und bedeutende nicht verwässernde staatliche Fördermittel erhalten. Das Flugzeug Cavorite X7 ist darauf ausgelegt, in wichtigen Leistungskennzahlen wie Geschwindigkeit, Reichweite und Nutzlastkapazität führend zu sein.
- Successfully completed one of world's first fan-in-wing forward transition flights
- Strong balance sheet with $17 million cash providing 18+ months of liquidity
- Secured significant non-dilutive government funding grants
- Lower aircraft development costs compared to other eVTOL companies
- Strategic expansion of engineering team with four key hires
- Still in prototype phase with commercial production not yet initiated
- Dependent on future funding beyond 18-month runway
Insights
Horizon Aircraft achieved significant technical milestone with fan-in-wing transition flight while maintaining 18+ months of runway with $17M cash.
Horizon Aircraft has reached a critical technical milestone by completing one of the world's first successful fan-in-wing forward transition flights with their large-scale prototype. This achievement significantly validates their Cavorite X7 aircraft design and positions them competitively in the eVTOL market.
From a financial perspective, the company reports a strong balance sheet with approximately $17 million in cash, providing an 18+ month runway. This positions Horizon well compared to many eVTOL startups that typically burn through capital at alarming rates during development phases.
Particularly noteworthy is their claim of an efficient approach to commercialization that has resulted in substantially lower aircraft development costs compared to competitors. This capital efficiency could prove crucial in the capital-intensive aerospace sector where development costs frequently spiral.
The company has also strengthened its technical capabilities through strategic talent acquisition, bringing on several key engineering personnel. Additionally, they've secured non-dilutive funding commitments from government agencies, though specific amounts weren't disclosed.
Their primary focus appears to be completing a full-scale demonstrator aircraft within the next 18 months, which aligns with their stated cash runway. This timeline suggests they're progressing methodically toward commercialization, though still years away from potential revenue generation.
The successful transition flight represents a technical de-risking event, as this complex maneuver has historically been a significant engineering challenge in VTOL development. If the Cavorite X7 can indeed deliver industry-leading performance in speed, range, and payload as claimed, it could potentially establish a competitive advantage in the increasingly crowded eVTOL market.
TORONTO, Aug. 22, 2025 (GLOBE NEWSWIRE) -- New Horizon Aircraft (NASDAQ: HOVR), doing business as Horizon Aircraft (“Horizon” or the “Company”), an advanced aerospace engineering company and developer of one of the world’s first hybrid electric Vertical Take-Off and Landing (VTOL) aircraft, today provided its business update and financial results for the fourth quarter and year ended May 31, 2025.
Highlights include the following:
- One of the world’s first ever successful fan-in-wing forward transition flights in May 2025 with the Company’s large-scale prototype aircraft;
- Strong balance sheet with 18+ months of liquidity;
- Efficient approach to commercialization resulting in significantly reduced aircraft development costs relative to other eVTOL organizations;
- World-class talent acquisition with the additions of Thomas Brassington, Justin Chapman, Andrea Mocellin, and John Wyzykowski to the engineering team; and
- Significant commitments from government agencies for non-dilutive funding grants.
"This was a pivotal year across all facets of our business – design, technical testing, personnel hires, and funding,” said Brandon Robinson, CEO of Horizon Aircraft. “Our achievements were highlighted in May 2025 by being one of the first eVTOL companies to successfully achieve forward transition flight of a large-scale prototype that uses fan-in-wing technology. This milestone lends tremendous credibility to the design of our Cavorite X7 aircraft that is expected to lead the industry in all major performance categories, including speed, range, and payload.”
Horizon Aircraft CFO Brian Merker added, “With added resources from funding efforts in both fiscal 2025 and Q1 of fiscal 2026, we now have approximately
About Horizon Aircraft
Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace engineering company that is developing one of the world’s first hybrid eVTOL that is to be able to fly most of its mission exactly like a normal aircraft while offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety, performance, and utility. Horizon intends to successfully complete testing and certification of its Cavorite X7 eVTOL and then scale unit production to meet expected demand from regional operators, emergency service providers, and military customers.
Visit www.horizonaircraft.com for more information.
Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Horizon competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) the lack of useful financial information for an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Horizon’s industry and market size; (v) financial condition and performance of Horizon, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon; (vi) Horizon’s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon’s Cavorite X7 eVTOL; (viii) the targeted future production of Horizon’s Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company’s public filings with the Securities and Exchange Commission (“SEC”), including the disclosures under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2024, filed with the SEC on August 15, 2024, as amended on March 17, 2025, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and accessible at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by applicable law. Horizon does not give any assurance that Horizon will achieve its expectations.
Contacts
Investors:
Matt Chesler, CFA
FNK IR
(646) 809-2183
HOVR@fnkir.com
Media:
Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com
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