HOVRNasdaqAircraftUS GAAP · USD

New Horizon Aircraft Ltd.

New Horizon Aircraft Ltd. is a British Columbia-incorporated aerospace company headquartered in Lindsay, Ontario, developing the Cavorite X7 hybrid-electric eVTOL aircraft. The company combines aircraft design, prototype development, and planned manufacturing and technology licensing for regional air mobility and dual-use civilian and military applications.

Liikevoitto (EBIT)−23,5milj. USD
−72,7 %v/v
Nettotulos−33,1milj. USD
−736,5 %v/v
Vapaa kassavirta−17,5milj. USD
−84,7 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2022–2026

−25−20−15−10−50milj. USD20222023: EBIT −1,5 milj. USD20232024: EBIT −4,6 milj. USD20242025: EBIT −14 milj. USD20252026: EBIT −23 milj. USD2026−23
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
eVTOL aircraft development55 %

Design and prototyping of the Cavorite X7 hybrid-electric vertical takeoff and landing aircraft.

Aircraft manufacturing25 %

Future production and assembly of certified aircraft for commercial and defense customers.

Technology licensing20 %

Licensing of patented fan-in-wing and related core technologies to OEM partners.

Asiakkaat

The company targets future buyers of the Cavorite X7, including air operators, lessors, individual consumers, and NATO military customers. It also plans to license technology to original equipment manufacturers, so its customer base spans aircraft end users and industrial partners rather than a single buyer type.

Air operators

Buy aircraft for regional passenger or cargo operations and need range, payload, and certification readiness.

Lessors

Acquire aircraft to lease into operator fleets once the type certificate and production system are in place.

Military customers

NATO and related defense users may buy for dual-use mobility and mission flexibility.

OEM licensees

License patented fan-in-wing technology and core innovations for integration into third-party aircraft.

Individual consumers

Potential future buyers for private aviation use if the aircraft reaches commercial availability.

Strategia

The company is focused on advancing the Cavorite X7 from prototype testing toward full-scale demonstration, certification, and eventual commercial production. It also aims to pair aircraft sales with technology licensing and outsourced manufacturing partnerships to reduce capital intensity and broaden market reach.

Prototype and flight-test the full-scale demonstratorLyhyt aikaväli

Flight testing is needed to validate performance, safety, and certification readiness.

Secure type, production, and airworthiness certificationKeskipitkä aikaväli

Commercial sales depend on regulatory approval before aircraft can be delivered.

Scale manufacturing through partnersKeskipitkä aikaväli

Outsourced production can reduce capital needs and speed industrialization.

Monetize technology through licensingPitkä aikaväli

Licensing can create an additional revenue stream beyond aircraft sales.

Maantiede

The company is headquartered in Lindsay, Ontario, with additional office and light manufacturing space in Haliburton, Ontario. It is exploring future scalable manufacturing locations near Toronto, while its commercial market is framed around North America and broader regional air mobility adoption.

Riskit

The business depends on successful aircraft design, testing, and certification, and delays in any of those steps can postpone commercialization and increase funding needs. It also faces the typical risks of an early-stage aerospace developer: technical performance shortfalls, supply chain execution, manufacturing scale-up, and dependence on future market adoption of regional air mobility.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Funding and going-concern risk1Certification delay2Market adoption risk3Technical development risk4Supply chain and manufacturing execution5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Funding and going-concern riskVaikutus: KriittinenTodennäköisyys: Korkea

    The company is pre-revenue and must fund multi-year development before sales begin.

    KohdistuuR&DTestingCertificationManufacturing build-out
  2. Certification delayVaikutus: KorkeaTodennäköisyys: Korkea

    Aircraft cannot be delivered commercially until type, production, and airworthiness approvals are obtained.

    Kohdistuu: Cavorite X7 commercialization

  3. Market adoption riskVaikutus: KorkeaTodennäköisyys: Korkea

    Regional air mobility remains an emerging market and demand is not yet proven.

    Kohdistuu: Commercial aircraft sales and licensing

  4. Technical development riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The aircraft may not achieve expected speed, range, payload, or safety performance.

    Kohdistuu: Prototype and demonstrator program

  5. Supply chain and manufacturing executionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Production relies on partners and vendors, which can create delays or quality issues.

    Kohdistuu: Outsourced manufacturing model

Kirjanpito

Harkinnanvaraiset erät
Research and development expense

Development costs are expensed as incurred, so prototype and testing activity directly reduces current-period earnings.

Vaikutus: Front-loads losses during aircraft development

Derivative financial instruments

Convertible or equity-linked instruments may require fair-value remeasurement through earnings.

Vaikutus: Can create non-cash volatility in reported results

Revenue recognition timing

Commercial revenue depends on certification and delivery timing, so revenue may be delayed until aircraft can be sold or licensed.

Vaikutus: No material sales revenue expected before certification

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026