Horizon Aircraft Reveals Fiscal 2027 Q1 Results and Progress on Cavorite X7

Horizon Aircraft, a Canadian aerospace company listed on NASDAQ as HOVR, has announced its fiscal 2027 first-quarter results, ending August 31, 2026. The company, known for developing hybrid-electric VTOL aircraft, holds over $70 million in cash reserves, expected to fund operations for at least 24 months. Horizon Aircraft has boosted its R&D investment to advance its Cavorite X7 project, with initial testing slated for early 2027. The full-scale demonstrator should be completed by the first calendar quarter of 2027.

The firm is progressing toward certification, having engaged with Transport Canada for guidance on designing and building its demonstrator aircraft. Strategic partnerships with companies like BETA Technologies and Marshall Aerospace further bolster development. Horizon Aircraft has received letters of intent that might translate into over $1 billion in potential sales, covering 200 aircraft purchases and five leases.