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Horizon Aircraft (NASDAQ: HOVR) highlights Q4 results, $78.3M and X7 progress

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(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

New Horizon Aircraft Ltd., an advanced aerospace company developing one of the first hybrid-electric VTOL aircraft, reported financial and operational results for the fourth quarter and fiscal year ended May 31, 2026. It highlighted a strengthened balance sheet of $78.3 Million and continued progress on full-scale development of its Cavorite X7 aircraft.

The company scheduled a webcast and conference call on July 16, 2026 at 8:30 a.m. Eastern Time, featuring CEO Brandon Robinson and CFO Brian Merker, to discuss results and provide a business update. The accompanying press release also includes extensive forward-looking statements about funding, testing, certification, production and market opportunities, all subject to significant risks and uncertainties.

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Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Balance sheet level $78.3 Million Headline description of the company’s strengthened balance sheet.
Warrant exercise price $11.50 per share Each whole warrant exercisable for one Class A Ordinary Share.
Fiscal year end May 31, 2026 Fiscal year for which financial and operating results were reported.
Earnings call time 8:30 a.m. Eastern Time Scheduled start time for the July 16, 2026 webcast and conference call.
Conference call access code 442619 Access code for the audio-only telephone version of the earnings call.
hybrid-electric VTOL technical
"developing one of the world’s first hybrid-electric VTOL aircraft"
A hybrid-electric vertical takeoff and landing (VTOL) is a type of aircraft that combines traditional engines with electric power to lift off, hover, and land vertically. This technology can make short-distance travel faster and quieter while reducing fuel consumption and emissions. For investors, it represents a growing area of innovation in transportation, offering potential for more sustainable and efficient air mobility solutions.
eVTOL technical
"Horizon Aircraft’s Cavorite X7 eVTOL demonstrator aircraft"
eVTOL stands for "electric vertical takeoff and landing" aircraft, which are small, electric-powered vehicles capable of taking off and landing vertically like a helicopter. They are designed to provide quick, on-demand transportation within cities or between locations, potentially transforming urban mobility. For investors, eVTOLs represent a growing segment of innovative transportation technology with potential for significant market impact and future growth.
forward-looking statements regulatory
"This press release contains certain forward-looking statements within the meaning"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Private Securities Litigation Reform Act of 1995 regulatory
"within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995"
Risk Factors regulatory
"including the disclosures under the heading Risk Factors in the Company’s Annual Report"
Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.
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FAQ

What did Horizon Aircraft (HOVR) disclose in its latest results update?
Horizon Aircraft reported financial and operational results for the fourth quarter and fiscal year ended May 31, 2026. The update highlighted a strengthened balance sheet of $78.3 Million and ongoing progress in full-scale development of its Cavorite X7 hybrid-electric VTOL aircraft.

What is the key financial highlight mentioned for Horizon Aircraft (HOVR)?
The company emphasized that it had strengthened its balance sheet to $78.3 Million. This figure is presented alongside operational updates as a headline indicator of financial position, though detailed revenue and earnings figures are not included in this summary disclosure.

When is Horizon Aircraft’s (HOVR) earnings webcast for fiscal 2026 results?
Horizon Aircraft scheduled its webcast and conference call for July 16, 2026 at 8:30 a.m. Eastern Time. Management plans to discuss fourth-quarter and full-year results and provide a broader business update during this event, with an archived replay available afterward.

What product development progress did Horizon Aircraft (HOVR) highlight?
The company reported advancing full-scale development of its Cavorite X7 hybrid-electric VTOL aircraft. Management referenced upcoming milestones including continued subsystem integration, full-scale prototype build progress, engineering team expansion, and engagement with certification authorities and strategic suppliers.

How does Horizon Aircraft (HOVR) describe its core business?
Horizon Aircraft describes itself as an advanced aerospace company developing one of the world’s first hybrid-electric VTOL aircraft. Its Cavorite X7 is designed to fly most of its missions in wing-borne flight, aiming for high speed, range, and operational utility across multiple customer segments.

What risks and uncertainties does Horizon Aircraft (HOVR) reference in this update?
The company notes numerous forward-looking statements covering funding, certification, testing, production, partnerships and market opportunities. It cautions that actual outcomes may differ materially due to factors detailed under Risk Factors in its Annual Report on Form 10-K for the year ended May 31, 2026.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 16, 2026

 

NEW HORIZON AIRCRAFT LTD.

(Exact name of registrant as specified in its charter)

 

British Columbia   001-41607   98-1786743
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification No.)

 

3187 Highway 35, Lindsay, Ontario   K9V 4R1
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (613) 866-1935

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Class A Ordinary Share, no par value   HOVR   The Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share   HOVRW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 
 

 

Item 2.02. Results of Operations and Financial Condition.

 

On July 16, 2026, New Horizon Aircraft Ltd. (the “Company”) issued a press release announcing its financial and operating results for the fiscal year ended May 31, 2026. The Company will also host an earnings call on July 16, 2026, during which the Company will discuss its financial results for the fiscal year ended May 31, 2026 and provide a business update. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in Item 2.02 of this Current Report on Form 8-K and the press release furnished as Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed herewith:

 

Exhibit No.   Description
99.1   Press Release, dated July 16, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  NEW HORIZON AIRCRAFT LTD.
     
Date: July 16, 2026 By: /s/ E. Brandon Robinson
  Name: E. Brandon Robinson
  Title: Chief Executive Officer

 

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Exhibit 99.1

 

Horizon Aircraft Reports Fiscal 2026 Fourth Quarter Results, Strengthens Balance Sheet to $78.3 Million, and Advances Full-Scale Cavorite X7 Development

 

TORONTO, July 16, 2026 - New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ: HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today reported its financial and operational results for the fourth quarter of fiscal 2026 ending May 31, 2026.

 

Recent Highlights:

 

●Strengthened balance sheet with $78.3 million in cash providing more than 24 months of liquidity to complete the full-scale demonstrator aircraft assembly and advance certification and manufacturing efforts;
   
●Technical progress toward the full-scale aircraft continues, with the first full-scale prototype on track to begin initial testing in the first quarter of calendar 2027;

 

●BETA Technologies’ advanced flight control computers will be used on the Cavorite X7. Through this partnership, BETA’s fly-by-wire (FBW) platform will provide precision, stability, safety and efficiency as the Company advances aircraft development, testing, and certification activities;

 

●Full-scale prototype development continues to advance through strategic manufacturing partnerships with RAMPF Composite Solutions for the main fuselage and empennage structures, and North Aircraft Industries for Horizon Aircraft’s patented wing architecture;

 

●Bolstered the leadership team with the appointment of Richard Alexander as Chief Engineer of Certified Programs and continued scaling engineering and certification capabilities. Headcount is expected to increase from 56 employees today to over 100 by summer 2027.

 

“This year marked a transformational period in which Horizon Aircraft moved from technology validation to full-scale aircraft development,” said Brandon Robinson, Co-Founder and CEO of Horizon Aircraft. “With our strong balance sheet, increasing strategic partnerships, and a technical team that is executing our development roadmap, I couldn’t be happier about the future.”

 

Management expects key upcoming milestones to include continued subsystem integration, advancement of the full-scale prototype build, expansion of the engineering organization, and ongoing engagement with certification authorities and strategic suppliers.

 

For more information, visit Horizon Aircraft’s website or watch its innovative technology in action on the Company’s YouTube channel. Information on Horizon Aircraft’s website does not constitute a part of and is not incorporated by reference into this press release.

 

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Webcasted Earnings Call

 

New Horizon Aircraft will host a webcast and conference call on Thursday, July 16, 2026 at 8:30 a.m. Eastern Time to discuss its financial results and provide a business update. The webcast will feature a video presentation by Horizon Aircraft CEO Brandon Robinson and CFO Brian Merker, accompanied by supporting visual content.

 

Guests can join the live webcast on Horizon Aircraft’s investor relations website at https://ir.horizonaircraft.com/events-presentations or access an audio-only version by telephone at 888-506-0062 from North America and at 973-528-0011 from international numbers (Access Code: 442619). An archive of the earnings call will be available shortly after the call.

 

About Horizon Aircraft

 

Horizon Aircraft (NASDAQ: HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.

 

For further information, visit:

 

Website www.horizonaircraft.com
LinkedIn https://www.linkedin.com/company/horizon-aircraft-inc

 

For further information, contact:

 

Investors:

 

Kathryn Burns
ir@horizonaircraft.com

 

Media:

 

Edwina Frawley-Gangahar
EFG Media Relations
+44 7580 174672
edwina@efgmediarelations.com

 

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Forward-Looking Statements

 

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 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). 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,” “target,” “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 herein include, but are not limited to, statements relating to the targeted readiness of the full-scale hybrid Cavorite X7 eVTOL demonstrator aircraft for initial testing, development priorities and technical milestones; the Cavorite X7’s design specifications, anticipated operational parameters and projected performance, including assumptions regarding operating costs, fuel consumption, maintenance costs and utilization rates; funding and liquidity sufficiency and runway; certification and testing plans; and potential production, partnership, supply chain and market opportunities.

 

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 Aircraft competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Horizon Aircraft 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 Aircraft’s industry and market size; (v) financial condition and performance of Horizon Aircraft, including the condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Horizon Aircraft; (vi) Horizon Aircraft’s ability to develop, certify, and manufacture an aircraft that meets its performance expectations; (vii) successful completion of testing and certification of Horizon Aircraft’s Cavorite X7 eVTOL; (viii) the targeted future production of Horizon Aircraft’s Cavorite X7 aircraft; and (ix) other factors detailed by us in the Company’s public filings with the SEC and under the Company’s profile on sedarplus.ca, 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, 2026, filed with the SEC and filed under the Company’s profile on sedarplus.ca on July 16, 2026. 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 Aircraft does not give any assurance that Horizon Aircraft will achieve its expectations.

 

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Source: View Original Filing on SEC EDGAR

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