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HOVRW

New Horizon Aircraft Ltd.

HOVRW

New Horizon Aircraft Ltd. • NASDAQ
$0.43 ▼ -3.36% (-0.02)
Market Cap $130.45 M
52w High $0.51
52w Low $0.42
Dividend Yield 0%
P/E 0
Volume 25.93K
Outstanding Shares 284.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $0 $5.909M ▲ $-10.903M ▼ 0% $-0.29 ▼ $-10.852M ▼
Q4-2025 $0 $4.053M ▲ $-6.611M ▼ 0% $-0.21 ▼ $-4.013M ▼
Q3-2025 $0 $3.554M ▲ $-4.943M ▼ 0% $-0.17 ▼ $-3.517M ▼
Q2-2025 $0 $3.274M ▲ $19.664M ▲ 0% $0.83 ▲ $-3.243M ▼
Q1-2025 $0 $2.705M $-2.911M 0% $-0.15 $-2.675M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $16.267M ▲ $17.043M ▲ $6.23M ▲ $10.813M ▲
Q4-2025 $7.547M ▼ $8.412M ▼ $5.822M ▲ $2.59M ▼
Q3-2025 $9.196M ▲ $10.328M ▲ $3.331M ▼ $6.997M ▲
Q2-2025 $887K ▼ $1.962M ▼ $4.315M ▼ $-2.353M ▲
Q1-2025 $3.822M $6.237M $28.37M $-22.133M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-10.903M ▼ $-2.364M ▲ $-139K ▼ $11.223M ▲ $8.72M ▲ $-2.503M ▲
Q4-2025 $-6.611M ▼ $-2.505M ▲ $-44K ▲ $900K ▼ $-1.649M ▼ $-2.549M ▲
Q3-2025 $-4.942M ▼ $-2.623M ▲ $-91K ▼ $11.023M ▲ $8.309M ▲ $-2.714M ▲
Q2-2025 $19.664M ▲ $-2.709M ▼ $-7K ▼ $-219K ▼ $-2.935M ▼ $-2.716M ▼
Q1-2025 $-2.911M $-1.475M $0 $3.481M $2.006M $-1.475M

Five-Year Company Overview

Income Statement

Income Statement The company is still pre-revenue, so there is essentially no sales activity yet and no real sign of commercial operations in the historical figures. Recent results show small operating losses, which is typical for an early-stage aerospace developer that is spending on engineering, testing, and corporate overhead rather than generating income. The small positive net income in the latest year looks more like an accounting or one-time effect than the start of a profitable business. Overall, the income statement shows a development-stage story, not a mature operating company.

Balance Sheet

Balance Sheet The balance sheet is very light, with only a modest amount of assets, primarily in cash, and effectively no reported debt. This reflects a lean, early-stage structure rather than a fully built-out manufacturing business with plants, equipment, and inventories. Equity is minimal, which underlines how dependent the company still is on external financing rounds to fund its plans. Financially, this looks like a venture-style balance sheet, not yet supported by a large base of tangible assets.

Cash Flow

Cash Flow Cash flow from operations is negative, meaning the company is using cash rather than generating it, as it funds R&D, design work, and early testing. Capital spending appears limited so far, suggesting the company has not yet moved into heavy tooling or full-scale production investment. Free cash flow is also negative, which is expected at this stage but reinforces that the business model is not yet self-funding. Future progress will depend heavily on continued access to new capital until revenues eventually develop.

Competitive Edge

Competitive Edge New Horizon is targeting a niche in the advanced air mobility market with a hybrid-electric eVTOL design that aims to blend helicopter-like flexibility with airplane-like speed and range. Its patented wing technology, longer projected range, and ability to use existing runways or small fields give it a differentiated, more infrastructure-light approach compared with many pure battery-electric rivals. All-weather design goals and multi-mission use cases—such as medical, disaster relief, and defense—could create broader demand than simple urban air taxis. However, the company operates in a crowded, capital-intensive field with larger, better-funded competitors and still faces the significant hurdles of certification, production scale-up, and customer adoption.

Innovation and R&D

Innovation and R&D Innovation is the core of the story: the HOVR Wing concept, hybrid-electric propulsion, and the push toward all-weather capability all point to a practical, mission-focused design. The company is investing in partnerships for propulsion and exploring future hydrogen-electric options, signaling a long-term commitment to cleaner and more flexible powertrains. R&D is centered on turning a promising concept into a certifiable, reliable aircraft platform, which is technologically ambitious and carries execution risk. Success will depend on whether the company can translate its prototypes and tests into safe, approved, and economically viable aircraft within regulatory and funding constraints.

Summary

New Horizon Aircraft is an early-stage aerospace developer with an ambitious, differentiated concept but almost no commercial financial footprint yet. The financial statements show a typical pattern for a young, R&D-heavy company: no revenue, modest but real cash burn, minimal assets, and reliance on external funding. Strategically, the company is trying to stand out in eVTOL with a hybrid, longer-range, multi-mission design that reduces dependence on new ground infrastructure and targets both civil and defense markets. The opportunity is tied to successful execution of flight testing, certification, and eventual production, while the main risks stem from technology, regulation, funding needs, and intense competition in a still-unproven market.