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New Horizon Aircraft (HOVR) Financials

New Horizon Aircraft logo
$1.50 -0.21 (-12.28%)
Closing price 07/16/2026 04:00 PM Eastern
Extended Trading
$1.54 +0.03 (+2.33%)
As of 09:16 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for New Horizon Aircraft

Annual Income Statements for New Horizon Aircraft

This table shows New Horizon Aircraft's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025 2026
Period end date 5/31/2023 5/31/2024 5/31/2025 5/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.92 -5.98 3.78 -24
Consolidated Net Income / (Loss)		 -0.92 -5.98 3.78 -24
Net Income / (Loss) Continuing Operations		 -0.92 -5.98 3.78 -24
Total Pre-Tax Income 		-0.92 -5.98 3.78 -24
Total Operating Income		 -1.08 -3.39 -9.88 -17
Total Gross Profit		 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00
Total Operating Expenses		 1.08 3.39 9.88 17
Selling, General & Admin Expense		 0.58 2.74 7.22 7.42
Research & Development Expense		 0.50 0.64 2.66 9.61
Other Special Charges / (Income)		 - - - 0.00
Total Other Income / (Expense), net		 0.16 -2.59 14 -6.98
Interest & Investment Income		 -0.05 - 0.09 0.49
Other Income / (Expense), net		 0.21 - 14 -7.47
Income Tax Expense		 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.13) ($0.56) $0.15 ($0.56)
Weighted Average Basic Shares Outstanding		 7.33M 10.72M 25.84M 43.05M
Diluted Earnings per Share		 ($0.13) ($0.56) $0.12 ($0.56)
Weighted Average Diluted Shares Outstanding		 7.33M 10.72M 30.76M 43.05M
Weighted Average Basic & Diluted Shares Outstanding		 18.22M 18.61M 39.21M 66.83M

Quarterly Income Statements for New Horizon Aircraft

This table shows New Horizon Aircraft's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -0.54 -3.91 -1.22 -2.16 14 -3.42 -4.67 -7.94 -6.19 -5.06 -4.82
Consolidated Net Income / (Loss)		 -0.54 -3.91 -1.22 -2.16 14 -3.42 -4.67 -7.94 -6.19 -5.06 -4.82
Net Income / (Loss) Continuing Operations		 -0.54 -3.91 -1.22 -2.16 14 -3.42 -4.67 -7.94 -6.19 -5.06 -4.82
Total Pre-Tax Income 		-0.54 -3.91 -1.22 -2.16 14 -3.42 -4.67 -7.94 -6.19 -5.06 -4.82
Total Operating Income		 -0.61 -0.93 -1.57 -2.00 -2.34 -2.46 -3.08 -4.30 -3.66 -5.57 -3.49
Total Operating Expenses		 0.61 0.93 1.57 2.00 2.34 2.46 3.08 4.30 3.66 5.57 3.49
Selling, General & Admin Expense		 0.45 0.73 1.40 1.78 2.03 2.16 1.25 2.32 1.80 2.43 0.87
Research & Development Expense		 0.16 0.20 0.18 0.22 0.30 0.31 1.83 1.98 1.87 3.14 2.62
Total Other Income / (Expense), net		 0.06 -2.98 0.36 -0.15 16 -0.96 -1.59 -3.64 -2.53 0.51 -1.32
Basic Earnings per Share		 ($0.11) ($0.33) ($0.06) ($0.11) $0.59 ($0.12) ($0.22) ($0.21) ($0.15) ($0.12) ($0.08)
Weighted Average Basic Shares Outstanding		 5.08M 11.70M 10.72M 19.25M 23.60M 29.47M 25.84M 37.14M 42.08M 44.33M 43.05M
Diluted Earnings per Share		 ($0.11) ($0.33) ($0.06) ($0.11) $0.57 ($0.12) ($0.22) ($0.21) ($0.15) ($0.12) ($0.08)
Weighted Average Diluted Shares Outstanding		 5.08M 11.70M 10.72M 19.25M 24.57M 29.47M 30.76M 37.14M 42.08M 44.33M 43.05M
Weighted Average Basic & Diluted Shares Outstanding		 - 18.22M 18.61M 24.57M 31.23M 31.39M 39.21M 40.97M 44.25M 45.26M 66.83M

Annual Cash Flow Statements for New Horizon Aircraft

This table details how cash moves in and out of New Horizon Aircraft's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2023 2024 2025 2026
Period end date 5/31/2023 5/31/2024 5/31/2025 5/31/2026
Net Change in Cash & Equivalents		 0.16 1.16 4.17 51
Net Cash From Operating Activities		 -0.80 -2.42 -6.77 -12
Net Cash From Continuing Operating Activities		 -0.80 -2.42 -6.77 -12
Net Income / (Loss) Continuing Operations		 -0.92 -5.98 3.78 -24
Consolidated Net Income / (Loss)		 -0.92 -5.98 3.78 -24
Depreciation Expense		 0.02 0.04 0.10 0.22
Non-Cash Adjustments To Reconcile Net Income		 0.12 3.09 -12 13
Changes in Operating Assets and Liabilities, net		 -0.03 0.43 1.63 -1.20
Net Cash From Investing Activities		 0.00 -0.15 -0.10 -0.70
Net Cash From Continuing Investing Activities		 0.00 -0.15 -0.10 -0.70
Purchase of Property, Plant & Equipment		 0.00 -0.15 -0.10 -0.70
Net Cash From Financing Activities		 0.96 3.74 11 64
Net Cash From Continuing Financing Activities		 0.96 3.74 11 64
Repurchase of Common Equity		 - 0.00 -0.37 0.00
Issuance of Preferred Equity		 - 0.00 4.57 0.00
Issuance of Common Equity		 - 0.00 4.39 0.00
Other Financing Activities, net		 0.00 -1.14 2.47 64
Cash Interest Paid		 0.01 0.02 0.00 0.00
Cash Income Taxes Paid		 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for New Horizon Aircraft

This table details how cash moves in and out of New Horizon Aircraft's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
Net Change in Cash & Equivalents		 4.25 -1.07 -1.92 1.49 -2.15 5.78 -0.94 6.35 5.64 -3.10 42
Net Cash From Operating Activities		 -0.69 0.43 -1.86 -1.09 -1.89 -1.73 -2.06 -1.72 -1.84 -5.09 -3.32
Net Cash From Continuing Operating Activities		 -0.69 0.43 -1.86 -1.09 -1.89 -1.73 -2.06 -1.72 -1.84 -5.09 -3.32
Net Income / (Loss) Continuing Operations		 -0.58 -3.87 -1.22 -2.16 14 -3.77 -4.40 -7.94 -6.05 -5.41 -4.61
Consolidated Net Income / (Loss)		 -0.58 -3.87 -1.22 -2.16 14 -3.77 -4.40 -7.94 -6.05 -5.41 -4.61
Depreciation Expense		 0.01 0.02 0.01 0.02 0.02 0.02 0.03 0.04 0.04 0.06 0.08
Non-Cash Adjustments To Reconcile Net Income		 0.10 3.01 -0.07 0.43 -16 1.50 2.12 5.50 3.01 2.59 1.93
Changes in Operating Assets and Liabilities, net		 -0.21 1.27 -0.59 0.61 0.30 0.52 0.20 0.69 1.16 -2.32 -0.72
Net Cash From Investing Activities		 -0.03 -0.08 -0.04 0.00 -0.00 -0.06 -0.04 -0.10 -0.38 -0.11 -0.11
Net Cash From Continuing Investing Activities		 -0.03 -0.08 -0.04 0.00 -0.00 -0.06 -0.04 -0.10 -0.38 -0.11 -0.11
Purchase of Property, Plant & Equipment		 -0.03 -0.08 -0.04 0.00 -0.00 -0.06 -0.04 -0.10 -0.38 -0.11 -0.11
Net Cash From Financing Activities		 4.97 -1.42 -0.02 2.58 -0.25 7.57 1.15 8.18 7.85 2.11 46
Net Cash From Continuing Financing Activities		 4.97 -1.42 -0.02 2.58 -0.25 7.57 1.15 8.18 7.85 2.11 46
Other Financing Activities, net		 -0.00 -1.14 0.01 0.03 -0.16 1.85 0.74 8.18 7.85 2.11 46

Annual Balance Sheets for New Horizon Aircraft

This table presents New Horizon Aircraft's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024 2025 2026
Period end date 12/31/2022 5/31/2023 5/31/2024 5/31/2025 5/31/2026
Total Assets		 0.46 0.32 3.62 6.12 61
Total Current Assets		 0.09 0.18 3.42 5.95 60
Cash & Equivalents		 0.09 0.17 1.33 5.49 57
Accounts Receivable		 - 0.01 0.31 0.07 0.58
Prepaid Expenses		 0.00 0.00 1.78 0.39 2.73
Plant, Property, & Equipment, net		 0.00 0.04 0.15 0.15 0.64
Total Noncurrent Assets		 0.37 0.10 0.05 0.02 0.05
Other Noncurrent Operating Assets		 0.37 0.09 0.05 0.02 0.05
Total Liabilities & Shareholders' Equity		 0.46 0.32 3.62 6.12 61
Total Liabilities		 0.44 1.34 17 4.24 9.20
Total Current Liabilities		 0.44 1.10 0.98 0.96 2.64
Accounts Payable		 0.00 0.13 0.52 0.49 2.01
Accrued Expenses		 0.14 0.04 0.42 0.45 0.59
Other Current Liabilities		 - 0.04 0.03 0.02 0.04
Total Noncurrent Liabilities		 0.00 0.25 16 3.27 6.56
Capital Lease Obligations		 - 0.05 0.02 0.01 0.02
Other Noncurrent Operating Liabilities		 0.00 0.00 16 3.26 6.55
Total Equity & Noncontrolling Interests		 0.02 -1.02 -13 1.88 52
Total Preferred & Common Equity		 0.02 -1.02 -13 1.88 52
Preferred Stock		 0.00 - 0.00 4.57 4.55
Total Common Equity		 0.02 -1.02 -13 -2.68 47
Common Stock		 0.03 3.78 -2.38 4.22 78
Retained Earnings		 -0.01 -4.80 -11 -6.90 -31

Quarterly Balance Sheets for New Horizon Aircraft

This table presents New Horizon Aircraft's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2023 2/29/2024 8/31/2024 11/30/2024 2/28/2025 8/31/2025 11/30/2025 2/28/2026
Total Assets		 122 6.82 4.62 1.40 7.16 12 18 16
Total Current Assets		 0.22 6.56 4.45 1.26 6.99 12 18 15
Cash & Equivalents		 0.07 4.42 2.83 0.63 6.37 12 17 14
Accounts Receivable		 - 0.13 0.04 0.02 0.10 0.06 0.16 0.21
Prepaid Expenses		 0.15 2.02 1.57 0.61 0.51 0.27 0.23 0.80
Plant, Property, & Equipment, net		 0.00 0.17 0.13 0.11 0.14 0.22 0.55 0.61
Total Noncurrent Assets		 121 0.09 0.05 0.04 0.03 0.02 0.02 0.01
Other Noncurrent Operating Assets		 121 0.09 0.05 0.04 0.03 0.02 0.02 0.01
Total Liabilities & Shareholders' Equity		 122 6.82 4.62 1.40 7.16 12 18 16
Total Liabilities		 14 23 21 3.08 2.31 4.54 7.99 5.71
Total Current Liabilities		 1.25 2.30 1.10 0.46 0.98 1.53 2.73 1.04
Accounts Payable		 0.35 1.45 0.92 0.27 0.58 0.28 0.65 0.81
Accrued Expenses		 0.14 0.80 0.16 0.17 0.39 1.23 2.07 0.23
Other Current Liabilities		 - 0.05 0.03 0.02 0.01 0.02 0.01 0.01
Total Noncurrent Liabilities		 12 21 20 2.62 1.33 3.01 5.26 4.66
Capital Lease Obligations		 - - 0.02 0.01 0.01 0.00 0.00 0.00
Other Noncurrent Operating Liabilities		 12 21 20 2.61 1.32 3.01 5.26 4.66
Total Equity & Noncontrolling Interests		 -13 -16 -16 -1.68 4.85 7.88 10 10
Total Preferred & Common Equity		 -13 -16 -16 -1.68 4.85 7.88 10 10
Preferred Stock		 0.00 - - - 4.34 4.57 4.49 4.60
Total Common Equity		 -13 -16 -16 -1.68 0.51 3.30 5.86 5.76
Common Stock		 0.00 -3.16 -3.36 -3.16 2.50 18 27 32
Retained Earnings		 -13 -13 -13 1.48 -1.99 -15 -21 -26

Annual Metrics And Ratios for New Horizon Aircraft

This table displays calculated financial ratios and metrics derived from New Horizon Aircraft's official financial filings.

Metric 2023 2024 2025 2026
Period end date 5/31/2023 5/31/2024 5/31/2025 5/31/2026
DEI Shares Outstanding		 5,039,122.00 17,104,497.00 17,104,497.00 45,263,348.00
DEI Adjusted Shares Outstanding		 5,039,122.00 17,104,497.00 17,104,497.00 45,263,348.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.18 -0.35 0.22 -0.53
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -296.91% 213.33% -740.06%
EBIT Growth		 0.00% -292.53% 208.99% -763.31%
NOPAT Growth		 0.00% -214.72% -316.62% -20.60%
Net Income Growth		 0.00% -551.59% 163.26% -734.75%
EPS Growth		 0.00% -345.16% 122.21% -551.58%
Operating Cash Flow Growth		 0.00% -203.03% -179.43% -76.63%
Free Cash Flow Firm Growth		 0.00% 0.00% -272.25% 50.16%
Invested Capital Growth		 0.00% -34,348.34% 75.09% -44.05%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% -18,606.75% 145.72% -47.67%
EBIT Q/Q Growth		 0.00% 0.00% 144.09% -47.46%
NOPAT Q/Q Growth		 0.00% 0.00% -17.97% -2.49%
Net Income Q/Q Growth		 0.00% 0.00% -47.70% -0.63%
EPS Q/Q Growth		 0.00% 0.00% -57.34% 20.20%
Operating Cash Flow Q/Q Growth		 0.00% -312.89% -2.94% -11.76%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 24.39% -13.85%
Invested Capital Q/Q Growth		 0.00% 29.71% -137.80% -27.49%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 106.31% 176.47% 102.42% 98.01%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 183.00% 84.45% -67.20% -89.80%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 183.00% 84.45% -94.46% -74.49%
Return on Equity Simple (ROE_SIMPLE)		 90.04% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.75 -2.37 -9.88 -12
NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 16.78% -2,176.81% 402.33% -38.85%
Return On Investment Capital (ROIC_SIMPLE)		 -598.89% 18.08% -522.90% -23.09%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.86 -3.39 3.69 -24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.84 -3.35 3.79 -24
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.62
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.62
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 2.80 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 35.69% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 2.55 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 2.62 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.55 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 -1.12 0.00 0.00 0.00
Long-Term Debt to Equity		 -0.24 0.00 0.00 0.00
Financial Leverage		 -0.96 0.02 0.60 -1.16
Leverage Ratio		 -0.78 -0.28 -0.87 1.25
Compound Leverage Factor		 -0.83 -0.49 -0.89 1.23
Debt to Total Capital		 909.94% -0.17% 0.31% 0.03%
Short-Term Debt to Total Capital		 712.87% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 197.08% -0.17% 0.31% 0.03%
Preferred Equity to Total Capital		 0.00% 0.00% 241.61% 8.82%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -809.94% 100.17% -141.92% 91.15%
Debt to EBITDA		 -1.36 -0.01 0.00 0.00
Net Debt to EBITDA		 -1.16 0.39 -1.45 2.34
Long-Term Debt to EBITDA		 -0.29 -0.01 0.00 0.00
Debt to NOPAT		 -1.52 -0.01 0.00 0.00
Net Debt to NOPAT		 -1.30 0.55 0.56 4.76
Long-Term Debt to NOPAT		 -0.33 -0.01 0.00 0.00
Altman Z-Score		 13.30 -6.15 2.89 1.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% -40.56% 17.06%
Liquidity Ratios		 - - - -
Current Ratio		 0.17 3.50 6.16 22.76
Quick Ratio		 0.16 1.68 5.76 21.72
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 12 -21 -10
Operating Cash Flow to CapEx		 0.00% -1,582.78% -6,557.76% -1,705.48%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 -0.04 -14 -3.60 -5.19
Invested Capital Turnover		 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -14 11 -1.59
Enterprise Value (EV)		 104 6.64 9.68 -23
Market Capitalization		 104 7.95 11 29
Book Value per Share		 ($0.14) ($1.23) ($0.10) $1.04
Tangible Book Value per Share		 ($0.14) ($1.23) ($0.10) $1.04
Total Capital		 0.13 -13 1.89 52
Total Debt		 1.15 0.02 0.01 0.02
Total Long-Term Debt		 0.25 0.02 0.01 0.02
Net Debt		 0.98 -1.31 -5.48 -57
Capital Expenditures (CapEx)		 0.00 0.15 0.10 0.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.18 1.11 -0.51 0.67
Debt-free Net Working Capital (DFNWC)		 -0.02 2.44 4.98 57
Net Working Capital (NWC)		 -0.91 2.44 4.98 57
Net Nonoperating Expense (NNE)		 0.16 3.61 -14 12
Net Nonoperating Obligations (NNO)		 0.98 -1.31 -5.48 -57
Total Depreciation and Amortization (D&A)		 0.02 0.04 0.10 0.22
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $1.10 $0.00 $0.15 ($0.56)
Adjusted Weighted Average Basic Shares Outstanding		 15.60M 0.00 25.84M 43.05M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.12 ($0.56)
Adjusted Weighted Average Diluted Shares Outstanding		 18.22M 0.00 30.76M 43.05M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 18.22M 0.00 39.21M 66.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.75 -2.37 -6.92 -12
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 9.81% 0.00%

Quarterly Metrics And Ratios for New Horizon Aircraft

This table displays calculated financial ratios and metrics derived from New Horizon Aircraft's official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 11/30/2023 2/29/2024 5/31/2024 8/31/2024 11/30/2024 2/28/2025 5/31/2025 8/31/2025 11/30/2025 2/28/2026 5/31/2026
DEI Shares Outstanding		 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 45,263,348.00
DEI Adjusted Shares Outstanding		 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 17,104,497.00 45,263,348.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.03 -0.23 -0.07 -0.13 0.82 -0.20 -0.27 -0.46 -0.36 -0.30 -0.11
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -267.61% -12,782.67% -621.54% -438.56% -167.42% -94.94% -115.27% -56.45% -125.88% -12.03%
EBIT Growth		 0.00% -274.16% 0.00% -618.05% -431.70% -165.37% -95.67% -114.74% -56.74% -126.08% -13.41%
NOPAT Growth		 0.00% -216.70% 0.00% -614.27% -450.32% -165.37% -95.67% -114.74% -9.72% -126.08% -13.41%
Net Income Growth		 0.00% -1,353.78% 0.00% -602.15% 2,676.33% 12.42% -283.41% -268.19% -144.11% -47.77% -3.20%
EPS Growth		 0.00% 0.00% 0.00% -88.16% 617.12% 64.49% -266.67% -90.02% -126.33% 0.34% 63.64%
Operating Cash Flow Growth		 0.00% 0.00% -6,811.28% -265.44% -175.42% -506.17% -10.38% -57.55% 2.99% -194.10% -61.19%
Free Cash Flow Firm Growth		 0.00% 218.20% 0.00% 0.00% 0.00% -116.23% -197.73% -202.50% 5,852.84% 93.53% 93.40%
Invested Capital Growth		 0.00% -119.03% -34,348.34% 0.00% 0.00% 92.64% 75.09% 79.33% -206.18% -168.69% -44.05%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -56.44% -112.10% -71.40% -26.87% -16.77% -5.32% -24.95% -40.10% 15.14% -52.06% 38.03%
EBIT Q/Q Growth		 -57.38% -111.18% -69.57% -27.41% -16.54% -5.40% -25.03% -39.83% 14.94% -52.03% 37.28%
NOPAT Q/Q Growth		 -116.08% -53.01% -69.57% -27.41% -66.48% 26.22% -25.03% -39.83% 14.94% -52.03% 37.28%
Net Income Q/Q Growth		 -77.26% -618.03% 68.87% -77.24% 750.39% -124.41% -36.27% -70.21% 22.07% 18.24% 4.84%
EPS Q/Q Growth		 -86.80% -200.45% 81.91% -85.33% 613.40% -120.63% -86.76% 3.95% 28.87% 21.89% 31.86%
Operating Cash Flow Q/Q Growth		 -129.70% 162.01% -537.46% 41.35% -73.12% 8.55% -18.89% 16.30% -6.59% -177.27% 34.84%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -89.60% 33.87% -100.21% -54,810.73% 37.37% -40.39% 111.92% -161.74% 36.08%
Invested Capital Q/Q Growth		 0.00% 0.00% 29.71% -32.99% 88.04% 34.13% -137.80% -10.33% -77.17% 42.20% -27.49%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 123.95% 421.45% 77.36% 107.62% -600.61% 139.08% 151.58% 184.52% 169.04% 90.91% 137.93%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% 0.00% 84.45% 47.73% -401.80% -128.07% -67.20% 46.99% -512.34% -313.70% -89.80%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.00% 0.00% 84.45% 47.73% -401.80% -177.29% -94.46% 72.20% -247.08% -129.25% -74.49%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.42 -0.65 -1.10 -1.40 -2.34 -1.72 -2.16 -3.01 -2.56 -3.90 -2.44
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% -145.48% -69.85% -53.59% 5,285.25% -31.57% -73.95% -67.24% -40.27% -11.20% -7.62%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.02% 8.40% 8.56% 140.27% -35.48% -114.04% -38.25% -24.75% -37.60% -4.74%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.44 -0.93 -1.57 -2.00 -2.34 -2.46 -3.08 -4.30 -3.66 -5.57 -3.49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.43 -0.91 -1.56 -1.98 -2.31 -2.44 -3.05 -4.27 -3.62 -5.51 -3.41
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 9.98 0.00 5.30 2.81 3.37 0.62
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 9.98 0.00 5.30 2.81 3.37 0.62
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 1.00 0.70 2.80 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 99.96% 142.65% 35.69% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 446.98 0.00 0.00 0.00 0.00 2.55 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 2.62 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.55 0.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.00 -0.05 0.02 0.17 0.37 0.95 0.60 1.72 -2.08 -1.37 -1.16
Leverage Ratio		 0.00 1.40 -0.28 -0.28 -0.83 -1.24 -0.87 -2.00 2.28 1.53 1.25
Compound Leverage Factor		 0.00 5.89 -0.22 -0.30 5.01 -1.72 -1.31 -3.69 3.85 1.39 1.73
Debt to Total Capital		 0.00% 0.00% -0.17% -0.11% -0.81% 0.20% 0.31% 0.02% 0.00% 0.00% 0.03%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% -0.17% -0.11% -0.81% 0.20% 0.31% 0.02% 0.00% 0.00% 0.03%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 89.35% 241.61% 58.04% 43.38% 44.43% 8.82%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 100.00% 100.17% 100.11% 100.81% 10.46% -141.92% 41.94% 56.62% 55.57% 91.15%
Debt to EBITDA		 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.39 0.56 0.09 0.77 -1.45 0.98 0.00 0.00 2.34
Long-Term Debt to EBITDA		 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 -0.01 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.55 0.79 0.09 0.76 0.56 1.39 0.00 0.00 4.76
Long-Term Debt to NOPAT		 0.00 0.00 -0.01 -0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 -2.04 -4.50 -4.23 -2.03 0.80 -0.76 0.52 -0.02 -0.32 2.14
Noncontrolling Interest Sharing Ratio		 0.00% 131.16% 0.00% 0.00% 0.00% -38.43% -40.56% -53.64% 51.77% 58.80% 17.06%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.00 2.85 3.50 4.05 2.76 7.11 6.16 7.97 6.51 14.81 22.76
Quick Ratio		 0.00 1.97 1.68 2.62 1.42 6.59 5.76 7.80 6.43 14.04 21.72
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 128 13 18 -0.04 -21 -13 -18 2.18 -1.34 -0.86
Operating Cash Flow to CapEx		 -2,460.43% 555.49% -5,077.95% 0.00% -37,886.41% -2,751.27% -5,813.16% -1,700.71% -482.66% -4,434.49% -3,154.22%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 0.00 -21 -14 -19 -2.30 -1.51 -3.60 -3.97 -7.04 -4.07 -5.19
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -129 -14 -19 -2.30 19 11 15 -4.74 -2.55 -1.59
Enterprise Value (EV)		 0.00 8.09 6.64 7.12 6.13 3.05 9.68 10 3.60 9.57 -23
Market Capitalization		 106 13 7.95 9.93 6.75 5.07 11 18 17 19 29
Book Value per Share		 $0.00 ($0.94) ($1.23) ($0.85) ($0.07) $0.02 ($0.10) $0.09 $0.14 $0.13 $1.04
Tangible Book Value per Share		 $0.00 ($0.94) ($1.23) ($0.85) ($0.07) $0.02 ($0.10) $0.09 $0.14 $0.13 $1.04
Total Capital		 0.00 -16 -13 -16 -1.67 4.86 1.89 7.88 10 10 52
Total Debt		 0.00 0.00 0.02 0.02 0.01 0.01 0.01 0.00 0.00 0.00 0.02
Total Long-Term Debt		 0.00 0.00 0.02 0.02 0.01 0.01 0.01 0.00 0.00 0.00 0.02
Net Debt		 0.00 -4.42 -1.31 -2.81 -0.62 -6.36 -5.48 -12 -17 -14 -57
Capital Expenditures (CapEx)		 0.03 0.08 0.04 0.00 0.00 0.06 0.04 0.10 0.38 0.11 0.11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -0.16 1.11 0.51 0.17 -0.37 -0.51 -1.20 -2.35 -0.03 0.67
Debt-free Net Working Capital (DFNWC)		 0.00 4.26 2.44 3.35 0.80 6.01 4.98 11 15 14 57
Net Working Capital (NWC)		 0.00 4.26 2.44 3.35 0.80 6.01 4.98 11 15 14 57
Net Nonoperating Expense (NNE)		 0.12 3.26 0.12 0.75 -16 1.70 2.51 4.93 3.63 1.16 2.37
Net Nonoperating Obligations (NNO)		 0.00 -4.42 -1.31 -2.81 -0.62 -6.36 -5.48 -12 -17 -14 -57
Total Depreciation and Amortization (D&A)		 0.01 0.02 0.01 0.02 0.02 0.02 0.03 0.04 0.04 0.06 0.08
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.45) ($0.06) ($0.11) $0.59 ($0.12) ($0.22) ($0.21) ($0.15) ($0.12) ($0.08)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 11.70M 10.72M 19.25M 23.60M 29.47M 25.84M 37.14M 42.08M 44.33M 43.05M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.06) ($0.11) $0.57 ($0.12) ($0.22) ($0.21) ($0.15) ($0.12) ($0.08)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 18.22M 10.72M 19.25M 24.57M 29.47M 30.76M 37.14M 42.08M 44.33M 43.05M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 18.22M 18.61M 24.57M 31.23M 31.39M 39.21M 40.97M 44.25M 45.26M 66.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.42 -0.65 -1.10 -1.40 -1.64 -1.72 -2.16 -3.01 -2.56 -3.90 -2.44
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 5.39% 4.89% 9.81% 0.35% -0.03% -0.07% 0.00%

Financials Breakdown Chart

Key Financial Trends

New Horizon Aircraft (NASDAQ: HOVR) remains an early-stage company with no revenue, rising operating losses, and a balance sheet that has changed dramatically over the last four years. The latest quarter shows a large increase in cash, but that was driven by financing activity rather than operations.

  • Cash and equivalents rose sharply to $14.4 million in Q3 2026 from $11.9 million in Q1 2026, and then jumped again after quarter-end financing activity in Q4 2026, helping liquidity in the near term.
  • The company generated a large net cash increase of $42.4 million in Q4 2026, reflecting successful financing execution.
  • Operating cash burn improved from -$5.1 million in Q3 2026 to -$3.3 million in Q4 2026, showing some quarter-to-quarter improvement.
  • Research and development spending fell to $2.6 million in Q4 2026 from $3.1 million in Q3 2026, which may indicate tighter cost control.
  • Common equity improved meaningfully from $3.3 million in Q1 2026 to $5.8 million in Q3 2026, suggesting the capital structure was strengthened before the latest quarterly changes.
  • The company continues to report no revenue, so the investment case still depends on future aircraft development and eventual commercialization.
  • Quarterly operating expenses remain elevated, with Q4 2026 operating expenses of $3.5 million, driven mainly by R&D and SG&A.
  • The latest quarter included negative other income/expense of $1.3 million, which added to the pretax loss and highlights volatility below the operating line.
  • Q4 2026 ended with a net loss of $4.8 million, after a $5.1 million loss in Q3 2026, so profitability remains distant.
  • The company’s balance sheet has shown significant dilution and financing dependence over time, with share counts rising from roughly 19.2 million in Q1 2025 to 43.0 million in Q4 2026 basic shares.

Looking at the broader trend, HOVR is still in the development phase: losses have persisted every quarter, operating cash flow has generally been negative, and the business has relied on external financing to fund operations. The most encouraging sign is the recent cash buildup, which gives the company more runway. However, retail investors should note that this runway appears to be financed largely by share issuance and other funding events, not by a self-sustaining business model.

Another important trend is that losses are not disappearing even as spending fluctuates. Quarterly operating expenses have ranged from about $0.9 million in Q3 2024 to $5.6 million in Q3 2026, while net losses have remained substantial. That suggests HOVR is still far from scale, and future shareholder returns will likely depend on successful product development, certification progress, and access to additional capital.

07/17/26 09:19 AM ETAI Generated. May Contain Errors.

New Horizon Aircraft Financials - Frequently Asked Questions

According to the most recent income statement we have on file, New Horizon Aircraft's financial year ends in May. Their financial year 2026 ended on May 31, 2026.

New Horizon Aircraft's net income appears to be on an upward trend, with a most recent value of -$24.01 million in 2026, rising from -$917.72 thousand in 2023. The previous period was $3.78 million in 2025. See New Horizon Aircraft's forecast for analyst expectations on what's next for the company.

New Horizon Aircraft's total operating income in 2026 was -$17.03 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $17.03 million

Over the last 3 years, New Horizon Aircraft's total revenue changed from $0.00 in 2023 to $0.00 in 2026, a change of 0.0%.

New Horizon Aircraft's total liabilities were at $9.20 million at the end of 2026, a 117.3% increase from 2025, and a 1,981.6% increase since 2022.

In the past 4 years, New Horizon Aircraft's cash and equivalents has ranged from $88.28 thousand in 2022 to $56.79 million in 2026, and is currently $56.79 million as of their latest financial filing in 2026.

Over the last 3 years, New Horizon Aircraft's book value per share changed from -0.14 in 2023 to 1.04 in 2026, a change of -847.0%.


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Financial statements for NASDAQ:HOVR last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Trump's gold order: the announcement they won't put on the front page
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
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Iran's New Leader Just Said Something That Should Terrify Every American
Iran's Supreme Leader has declared the Strait of Hormuz closed as leverage against the U.S. - and with 40% of ...
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Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
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The $15 Gold Fund That Pays Up to $1,152/Month
Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying...
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Trump Takes Emergency Action - Plus Elon Musk's New Venture
Elon Musk has quietly launched a new venture - one that has nothing to do with rockets, EVs, or Neuralink. Tru...
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DOJ Admits It In Court—Your Cash Can Be Seized Without Warning
The Department of Justice recently argued in court that cash may not be legally your property - raising concer...
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Your $29.97 book is free today
Why Some Traders Skip Stocks Entirely You don't need a big account to trade options. In fact, options ca...
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SPCX Warning - and Worst News for Stocks in 50 Years
Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
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