Quarterly ResultJul 16, 2026, 08:26 AM
Horizon Aircraft Q4 2026 Results: $78.3M Cash, Cavorite X7 Progress
AI Summary
New Horizon Aircraft Ltd. reported its financial and operational results for the fourth quarter of fiscal year 2026, ended May 31, 2026. The company strengthened its balance sheet with $78.3 million in cash, providing over 24 months of liquidity for development. Key operational highlights include advancing the full-scale Cavorite X7 demonstrator, which is on track for initial testing in Q1 2027, and forming strategic partnerships for manufacturing and flight control systems. The company also expanded its leadership team and plans to increase headcount.
Key Highlights
- Balance sheet strengthened with $78.3 million in cash.
- Cash provides over 24 months of liquidity for development.
- First full-scale prototype on track for initial testing in Q1 2027.
- Partnered with BETA Technologies for Cavorite X7 flight control computers.
- Strategic manufacturing partnerships formed with RAMPF and North Aircraft.
- Headcount expected to increase from 56 to over 100 by summer 2027.
- Richard Alexander appointed as Chief Engineer of Certified Programs.
Price Impact
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