Horizon Aircraft reports over $70 million cash

• Horizon Aircraft (NASDAQ:HOVR) ended its fiscal 2027 first quarter with more than $70 million in cash as of August 31, 2026.
• Management expects the cash balance to fund the company’s current operating plan for at least the next 24 months.
• Horizon expects its full-scale Cavorite X7 demonstrator to be completed by the first quarter of calendar 2027, with testing beginning in early 2027.

Horizon Aircraft (NASDAQ:HOVR) reported more than $70 million in cash as of August 31, 2026, following its fiscal 2027 first-quarter period.

Management said the cash balance is expected to fund Horizon’s current operating plan for at least the next 24 months.

The company expects its full-scale Cavorite X7 demonstrator to be completed by the first quarter of calendar 2027, with initial testing planned for early 2027.

Ground and taxi testing are expected to take place before flight testing, while development continues with support from BETA Technologies, Marshall Aerospace, RAMPF Composite Solutions and North Aircraft Industries.

Horizon said it has also held meetings with Transport Canada about designing and building the demonstrator to support future certification progress.

The company said signed letters of intent represent more than US$1 billion in potential sales covering up to 200 aircraft purchases and five aircraft leases.

Those letters of intent represent potential future orders rather than recognized revenue, while Horizon continues development and testing of the Cavorite X7 program.