Recent Updates — HOVR

New Horizon Aircraft Ltd. announced financial and operating results for the first quarter of fiscal 2027 ended August 31, 2026. The company reported strong liquidity with more than $70 million in cash as of the period end, which management expects to fund its current operating plan for at least the next 24 months. R&D spending increased significantly relative to general and administrative expenses to advance the Cavorite X7 hybrid-electric VTOL program. The full-scale demonstrator aircraft is expected to be completed by the first quarter of calendar 2027, followed by ground and flight testing. The company also highlighted progress toward certification with Transport Canada and noted signed letters of intent totaling more than US$1 billion for up to 200 aircraft purchases and five leases. New Horizon Aircraft Ltd. is an advanced aerospace company developing hybrid-electric vertical takeoff and landing aircraft.