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Nov 30, 2025
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New Horizon Q2 2026 Earnings Report
New Horizon Aircraft Ltd. reported a net loss in Q2 2026 as it continued to invest heavily in developing its full-scale eVTOL prototype.
Key Takeaways
New Horizon Aircraft Ltd. saw an increased net loss in Q2 2026 due to higher research and development spending as it ramped up engineering and design for its full-scale prototype. Operating expenses rose year-over-year, offset slightly by lower general and administrative costs. Despite no revenue, the company ended the quarter with over $24 million in cash.
Net loss of CAD 8.65 million driven by increased R&D spending.
R&D costs rose to CAD 2.6 million in the quarter, mainly for engineering and prototype development.
General and administrative expenses declined slightly to CAD 2.5 million.
Cash and cash equivalents rose to CAD 24.3 million, ensuring near-term liquidity.
Forward Guidance
The company expects to continue investing in prototype development and anticipates increased R&D and certification efforts, while maintaining cost discipline in general operations.
Positive Outlook
- Cash balance of over CAD 24 million expected to fund operations for at least 12 months
- Successful INSAT grant award supports development of sustainable aviation
- Continued progress on full-scale prototype of eVTOL aircraft
- Reduction in general and administrative costs
- Strong shareholder support with over CAD 19 million raised from share sales
Challenges Ahead
- No revenue generated as the company remains pre-commercial
- Significant ongoing R&D expenses
- Dependence on additional capital for operations beyond 12 months
- Uncertainty around certification timeline for Cavorite X7 aircraft
Historical Earnings Impact
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Avg. Return Before/After Earnings
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