Every 10-Q that New Horizon Aircraft Ltd. (HOVR) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow HOVR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HOVR filings page.
New Horizon Aircraft Ltd. reported a much larger loss as it ramps up development of its hybrid‑electric eVTOL aircraft. For the nine months ended February 28, 2026, net loss was C$26.5 million, compared with net income of C$11.8 million a year earlier, driven mainly by higher research and development spending of C$9.6 million and general and administrative costs of C$9.0 million.
Cash and cash equivalents rose to C$19.7 million, helped by C$21.4 million of equity raised under a sales agreement and C$3.3 million from warrant exercises. Management believes this cash funds the current plan for at least 12 months but discloses substantial doubt about the ability to continue as a going concern beyond that without new capital. The company remains pre‑revenue and is building a full‑scale demonstrator targeted to begin flight testing in 2027.
New Horizon Aircraft Ltd. is a pre-revenue aerospace company developing a hybrid-electric eVTOL aircraft and reported a net loss of 19,553 (in thousands of Canadian dollars) for the six months ended November 30, 2025, compared with net income of 16,753 in the prior-year period, largely due to higher research and development and the absence of prior-period fair value gains.
Cash and cash equivalents increased to 24,304 (in thousands of Canadian dollars) from 7,547 as the company raised 19,092 through its at-the-market Sales Agreement and 3,282 from warrant exercises in the six-month period. Research and development spending rose to 5,327 from 724, reflecting hiring and full-scale prototype work, while general and administrative expenses were 5,700 versus 5,255.
Management states it has sufficient cash for at least 12 months but notes substantial doubt about meeting the going concern assumption beyond that without additional capital. The company successfully secured participation in Canada’s INSAT program for a 10,500 project (with up to 40% reimbursement) and remains in a research and flight-testing phase, targeting a full-scale demonstrator by 2027. Management also discloses a material weakness in internal control over financial reporting related to separation of financial responsibilities and is working toward remediation.
New Horizon Aircraft Ltd. reported interim results showing operating losses as it continues in a pre-revenue stage. Total operating expenses were 5,909 and loss from operations was (5,909), compared with 2,705 and (2,705) in the prior period. Net loss drivers include a change in fair value of warrants of 5,137 and net interest income of (118), producing a loss before taxes of (10,903) versus (2,911) previously. Basic weighted-average shares outstanding rose to 37,135,908, producing basic and diluted net loss per share of $(0.29) versus $(0.15).
The company remains pre-revenue with cash-raising activity: proceeds from a Sales Agreement were 8,253 and 2,900,000 Class A shares issued for proceeds of 2,970. As of August 31, 2025, $14.8 million remained eligible under the Sales Agreement. Outstanding warrants totaled 12,375,375 with weighted exercise price shown as $11.23 average and remaining term around 3.7 years. The filing notes stock-based compensation and PSU-related charges recorded against equity and accrued liabilities.