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Financial Statements — HOVRW
Balance Sheet
(in millions CAD)| Metric | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | 70.06 | 78.28 | 19.67 | 24.30 | 16.27 | 7.55 | 9.20 | 0.89 | 3.82 | 1.82 | 4.42 | 0.02 | 0.07 | -- | -- | -- |
| Accounts Receivable | 1.21 | 0.80 | 0.29 | 0.22 | 0.08 | 0.10 | 0.15 | 0.02 | 0.06 | -- | 0.13 | -- | -- | -- | 0.01 | -- |
| Total Current Assets | 73.84 | 82.85 | 21.06 | 24.84 | 16.72 | 8.17 | 10.09 | 1.76 | 6.00 | 4.66 | 6.56 | 0.12 | 0.22 | 0.50 | 0.78 | 0.09 |
| Property, Plant & Equipment | 1.42 | 0.88 | 0.84 | 0.77 | 0.30 | 0.21 | 0.21 | 0.15 | 0.18 | 0.21 | 0.17 | -- | -- | -- | -- | -- |
| Total Non-current Assets* | 1.48 | 0.95 | 0.85 | 0.80 | 0.32 | 0.24 | 0.24 | 0.20 | 0.24 | 0.28 | 0.26 | 121.96 | 121.48 | 119.92 | 118.49 | 0.37 |
| Total Assets | 75.31 | 83.80 | 21.91 | 25.64 | 17.04 | 8.41 | 10.33 | 1.96 | 6.24 | 4.94 | 6.82 | 122.08 | 121.70 | 120.42 | 119.27 | 0.46 |
| Accounts Payable | 1.62 | 2.77 | 1.10 | 0.91 | 0.38 | 0.68 | 0.83 | 0.37 | 1.24 | 0.72 | 1.45 | 0.69 | 0.35 | 0.06 | 0.02 | -- |
| Short-term Debt | -- | -- | 0.08 | 0.08 | -- | -- | -- | -- | -- | 0.04 | 0.04 | -- | -- | -- | -- | -- |
| Total Current Liabilities | 2.45 | 3.64 | 1.42 | 3.82 | 2.10 | 1.33 | 1.42 | 0.64 | 1.48 | 1.33 | 2.30 | 0.99 | 1.25 | 0.16 | 0.13 | -- |
| Total Non-current Liabilities* | 5.21 | 9.05 | 6.36 | 7.35 | 4.13 | 4.50 | 1.91 | 3.68 | 26.89 | 21.54 | 20.66 | 6.10 | 12.34 | 3.45 | 3.45 | -- |
| Total Liabilities | 7.66 | 12.69 | 7.78 | 11.17 | 6.23 | 5.82 | 3.33 | 4.32 | 28.37 | 22.88 | 22.96 | 7.09 | 13.59 | 3.61 | 3.58 | 0.44 |
| Retained Earnings | (46.65) | (42.58) | (35.93) | (29.04) | (20.39) | (9.48) | (2.87) | 2.07 | (17.59) | (14.68) | (12.98) | (6.86) | (12.51) | (3.01) | (2.71) | (0.01) |
| Total Stockholder Equity | 67.66 | 71.11 | 14.13 | 14.47 | 10.81 | 2.59 | 7.00 | (2.35) | (22.13) | (17.93) | (16.14) | (6.86) | (12.51) | (3.01) | (2.71) | 0.02 |
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* Derived from reported values
Income Statement
(in millions CAD) (except per-share rows)| Metric | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research & Development | 7.43 | 3.63 | 4.28 | 2.61 | 2.72 | 2.49 | 0.44 | 0.43 | 0.30 | 0.25 | 0.27 | -- | -- | -- | -- |
| Selling, General & Admin | 1.67 | 1.22 | 3.31 | 2.51 | 3.19 | 1.56 | 3.11 | 2.85 | 2.41 | 1.92 | 0.99 | -- | -- | -- | -- |
| Total Operating Expenses | 9.10 | 4.85 | 7.59 | 5.12 | 5.91 | 4.05 | 3.55 | 3.27 | 2.71 | 2.16 | 1.26 | -- | -- | 0.30 | 0.13 |
| Operating Income | (9.10) | (4.85) | (7.59) | (5.12) | (5.91) | (4.05) | (3.55) | (3.27) | (2.70) | (2.16) | (1.26) | (0.63) | (0.61) | (0.30) | (0.13) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.02 | -- | -- | -- | -- |
| Pretax Income | (4.07) | (6.64) | (6.90) | (8.65) | (10.90) | (6.61) | (4.94) | 19.66 | (2.91) | (1.70) | (5.31) | 7.22 | 0.87 | -- | -- |
| Tax Provision | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.76 | -- | -- |
| Net Income | (4.07) | (6.64) | (6.90) | (8.65) | (10.90) | (6.61) | (4.94) | 19.66 | (2.91) | (1.70) | (5.31) | 6.89 | 0.11 | 1.12 | 0.50 |
| Basic EPS | (0.06) | -- | (0.16) | (0.21) | (0.29) | (0.31) | (0.17) | 0.83 | (0.15) | (0.08) | (0.45) | -- | -- | -- | -- |
| Diluted EPS | (0.06) | -- | (0.16) | (0.21) | (0.29) | (0.31) | (0.17) | 0.80 | (0.15) | (0.08) | (0.45) | -- | -- | -- | -- |
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Cash Flow Statement
(in millions CAD)| Metric | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | (7.21) | (4.70) | (6.82) | (2.61) | (2.36) | (2.50) | (2.62) | (2.71) | (1.47) | (0.76) | (1.36) | (0.21) | (0.24) | (0.31) |
| Capital Expenditures | 0.67 | 0.15 | 0.14 | 0.53 | 0.14 | 0.04 | 0.09 | 0.04 | 0.02 | 0.16 | -- | -- | -- | -- |
| Free Cash Flow* | (7.88) | (4.86) | (6.96) | (3.14) | (2.50) | (2.55) | (2.71) | (2.75) | (1.49) | (0.92) | -- | -- | -- | -- |
| Investing Cash Flow | (0.67) | (0.15) | (0.14) | (0.53) | (0.14) | (0.04) | (0.09) | (0.04) | (0.02) | (0.16) | 1.13 | 0.00 | 0.00 | (117.87) |
| Financing Cash Flow | (0.33) | 63.46 | 2.33 | 11.18 | 11.22 | 0.90 | 11.02 | (0.22) | 3.48 | 5.11 | 0.18 | 0.00 | 0.00 | 118.62 |
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* Derived from reported values