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Horizon Aircraft reports $78.3 million fourth quarter cash
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- Horizon Aircraft reported its fourth-quarter results with a strengthened balance sheet containing $78.3 million in cash.
- The company stated it maintains over 24 months of liquidity to fund ongoing manufacturing and certification efforts.
- The business intends to increase its workforce and advance its full-scale Cavorite X7 prototype testing by 2027.
Horizon Aircraft (NASDAQ:HOVR) reported fiscal 2026 fourth-quarter results, highlighting a strengthened cash balance of $78.3 million.
The company stated this capital provides over 24 months of liquidity to complete the Cavorite X7 demonstrator.
The business expects to increase its workforce from 56 employees to over 100 by the summer of 2027.
The manufacturer targets 2027 for prototype testing, and following the announcement, Horizon Aircraft's share price was down at $1.71.
The enterprise appointed Richard Alexander as Chief Engineer of Certified Programs to oversee subsystem integration and certification.
The firm also secured partnerships with BETA Technologies and RAMPF Composite Solutions to advance its full-scale prototype development.
