New Horizon Aircraft Ltd.
Business
New Horizon Aircraft Ltd. is an advanced aerospace original equipment manufacturer designing and building a next-generation hybrid-electric vertical takeoff and landing aircraft called the Cavorite X7 for the regional air mobility market. The company's aircraft uses proprietary ducted fan-in-wing technology to enable vertical takeoff and landing combined with efficient forward flight for regional routes of 50 to 500 miles, carrying seven passengers and cargo. New Horizon operates as a pre-revenue aircraft developer with intellectual property licensing as a potential future revenue stream.
Summary from 10-K filed 2026-07-16
Financials
Consolidated Statement of Income
| Concept | Trend | May 31, 2026 2026-05-31 | May 31, 2025 2025-05-31 |
|---|---|---|---|
| Operating expenses | — | — | |
| Research and development | 13 | 4 | |
| General and administrative | 10 | 10 | |
| Total operating expenses | 23 | 14 | |
| Loss from operations | −23 | −14 | |
| Other (income) expenses | 503,000 | −10,000 | |
| Interest income | 671,000 | 123,000 | |
| Change in fair value of Warrants | 11 | 2 | |
| Change in fair value of Forward Purchase Agreement | — | −740,000 | |
| Termination of Forward Purchase Agreement | — | 21 | |
| Total other expenses (income) | −10 | 19 | |
| Income (Loss) before income taxes | −33 | 5 | |
| Income tax expense | — | — | |
| Net Income (Loss) and Comprehensive Income (Loss) | −33 | 5 | |
| Income (loss) per share: | — | — | |
| Basic: (in Dollars per share) | −0.77 | 0.2 | |
| Diluted: (in Dollars per share) | −0.77 | 0.17 | |
| Shares used in computing Income (Loss) per share: | — | — | |
| Basic: (in Shares) | 43 | 26 | |
| Diluted: (in Shares) | 43 | 31 |
Consolidated Balance Sheet
| Concept | Trend | May 31, 2026 2026-05-31 | May 31, 2025 2025-05-31 |
|---|---|---|---|
| Current assets: | — | — | |
| Cash and cash equivalents | 78 | 8 | |
| Prepaid expenses | 4 | 530,000 | |
| Accounts receivable | 798,000 | 96,000 | |
| Total current assets | 83 | 8 | |
| Operating lease assets | 72,000 | 30,000 | |
| Property and equipment, net | 878,000 | 209,000 | |
| Total Assets | 84 | 8 | |
| Current liabilities: | — | — | |
| Accounts payable | 3 | 679,000 | |
| Accrued liabilities | 818,000 | 625,000 | |
| Operating lease liabilities | 51,000 | 22,000 | |
| Total current liabilities | 4 | 1 | |
| Warrant liabilities | 9 | 4 | |
| Operating lease liabilities | 21,000 | 8,000 | |
| Total Liabilities | 13 | 6 | |
| Shareholders’ Equity: | — | — | |
| Ordinary shares, value | 167 | 85 | |
| Preferred shares, no par value; unlimited authorized; 4,500 issued and outstanding (4,500 as of May 31, 2025) | 6 | 6 | |
| Additional paid-in capital | −59 | −79 | |
| Accumulated deficit | −43 | −9 | |
| Total Shareholders’ Equity | 71 | 3 | |
| Total Liabilities and Shareholders’ Equity | 84 | 8 |
Consolidated Statement of Cash Flows
| Concept | Trend | May 31, 2026 2026-05-31 | May 31, 2025 2025-05-31 |
|---|---|---|---|
| Cash Flows from Operating Activities: | — | — | |
| Net Income (Loss) | −33 | 5 | |
| Adjustments to reconcile net loss to net cash used in operating activities: | — | — | |
| Depreciation and amortization | 298,000 | 138,000 | |
| Stock-based compensation | 7 | 1 | |
| Registered Share Offering Costs | — | 290,000 | |
| Change in fair value of Forward Purchase Agreement | — | −740,000 | |
| Gain on Termination of Forward Purchase Agreement | — | 21 | |
| Change in Warrant liability | 11 | 2 | |
| Changes in operating assets and liabilities: | — | — | |
| Prepaid expenses | 3 | −2 | |
| Accounts receivable | 702,000 | −321,000 | |
| Accounts payable | 2 | −36,000 | |
| Accrued liabilities | 193,000 | 51,000 | |
| Operating leases | 1,000 | 3,000 | |
| Net cash used in operating activities | −16 | −9 | |
| Cash Flows used in Investing Activities: | — | — | |
| Purchase of property and equipment | 967,000 | 142,000 | |
| Net cash used in investing activities | −967,000 | −142,000 | |
| Cash Flows from Financing Activities: | — | — | |
| Net Proceeds from Sales Agreement | 28 | 880,000 | |
| Proceeds from RDO I | 27 | — | |
| RDO I Costs | 2 | — | |
| Proceeds from RDO II | 35 | — | |
| RDO II Costs | 3 | — | |
| Proceeds from Class A Ordinary Shares to be Issued | 35,000 | — | |
| Proceeds from Registered Securities Offering | — | 4 | |
| Registered Share Offering Costs | — | 510,000 | |
| Proceeds from exercise of stock options | 28,000 | — | |
| Net Proceeds from Issuance of Class A Ordinary shares | — | 2 | |
| Net Proceeds from Issuance of Preferred Shares | — | 6 | |
| Forward Purchase Agreement termination | — | 278,000 | |
| Proceeds from Warrants exercised | 3 | 3 | |
| Net cash provided by financing activities | 88 | 15 | |
| Net Change in Cash and Cash Equivalents | 71 | 6 | |
| Cash and Cash Equivalents - Beginning of year | 8 | 2 | |
| Cash and Cash Equivalents - End of year | 78 | 8 | |
| Taxes paid | — | — | |
| Interest paid | 1,000 | 1,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is New Horizon Aircraft Ltd.'s CIK number?
New Horizon Aircraft Ltd.'s SEC CIK number is 0001930021 (1930021). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find New Horizon Aircraft Ltd.'s SEC filings?
All of New Horizon Aircraft Ltd.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did New Horizon Aircraft Ltd. last report earnings?
New Horizon Aircraft Ltd. (HOVR) most recently filed an earnings 8-K with the SEC on Jul 16, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001213900-26-078500). This is New Horizon Aircraft Ltd.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is New Horizon Aircraft Ltd.'s most recent earnings 8-K?
New Horizon Aircraft Ltd.'s latest earnings 8-K (Item 2.02) was filed Jul 16, 2026 under accession 0001213900-26-078500. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View New Horizon Aircraft Ltd.'s latest earnings 8-K →
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