New Horizon Aircraft Reports Q1 2027 Earnings, Highlights R&D Progress and Liquidity
New Horizon Aircraft (HOVR) reported its first-quarter earnings for fiscal year 2027 on October 9, 2026. The company narrowed its net loss to $4.1 million or $0.06 per share compared to a prior-year loss of $10.9 million or $0.29 per share. This improvement was driven by higher non-cash gains and reduced general administrative expenses. HOVR also reported over $70 million in cash, which management expects will fund operations for at least 24 months. The company is advancing its full-scale Cavorite X7 demonstrator aircraft with a target completion date of late Q1 2027 followed by ground and flight testing. Certification is expected around early 2030 through partnerships in Canada. HOVR has secured letters of intent for up to $1 billion from potential buyers, including an agreement worth approximately $600 million for emergency services aircraft in Australia.
Tickers: $HOVR
Topics: aircraft manufacturing cash liquidity net loss R&D expenses