Horizon Aircraft Reports Fiscal Q1 2027 Results; Cash Above $70 Million
New Horizon Aircraft Ltd. (NASDAQ: HOVR) reported results for the first quarter of fiscal 2027, ended August 31, 2026, and said it is advancing its full-scale Cavorite X7 demonstrator aircraft. The filing's press release cites liquidity and program milestones but does not state revenue, net income or loss, or per-share figures in the text provided, so shareholders have no headline profit measures to compare with prior periods.
Key points
- More than $70 million in cash as of August 31, 2026, which management expects to fund the current operating plan for at least 24 months
- Letters of intent totaling more than US$1 billion in potential aircraft sales, covering up to 200 aircraft purchases and 5 aircraft leases
- Full-scale Cavorite X7 demonstrator expected to be completed by the first quarter of calendar 2027, with initial testing beginning in early calendar 2027
- Earnings call and webcast scheduled for October 9, 2026, at 8:30 a.m. Eastern Time
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 09, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.