Sales and profit
See section →- New Horizon Aircraft Ltd. lost $24.0M in fiscal 2026.
New Horizon Aircraft Ltd.
HOVR Nasdaq Aircraft Financials FY2023–FY2026
- Today
- 5.9%
- Previous close
- $1.27
- Market cap
- $78.4M
- P/E
- —
- Day range
-
$1.16 $1.25
- 52-week range
-
$1.20 $3.14
Last close · Oct 30, 2026
$1.20
−$1.09 (−47.59%) past year
| Line | Q1 '26 | Q1 '27 | Change (y/y) |
|---|---|---|---|
| Net income | −$7.9M | −$2.9M | — |
| Diluted EPS | −$0.21 | −$0.04 | — |
| Free cash flow | −$1.8M | −$5.6M | — |
KIRA’s summary AI analyst
Hi! I read New Horizon Aircraft Ltd.’s latest annual report (fiscal 2026). Here is what stands out:
1 strength 1 to watch
New Horizon Aircraft Ltd. in 30 seconds
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−$24.0M
Does it make a profit?
Weak -
3.1 yrs
How long would its cash last?
Good -
—
How is the share priced?
For information
Cash and shareholders
See section →- Free cash flow was −$12.7M in fiscal 2026. Over the last four quarters it burned $16.5M; its $50.5M of cash and short-term investments would last about 3.1 years at that pace.
- No open-market insider trades in the last 12 months.
New Horizon Aircraft Ltd. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
−$24.0M
No. It lost money last year.
Good
How long would its cash last?
3.1 yrs
Comfortably. It burns $16.5M a year and holds $50.5M, about 3.1 years at that pace.
For information
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2026
Market cap
Last close times the latest diluted share count, so it is approximate.
$78.4M
Oct 30 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.39 EPS (TTM)
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
Revenue
FY23
Revenue —
FY24
Revenue —
FY25
Revenue —
FY26
Revenue —
Margins, % of revenue
FY23
Gross —
Operating —
Net —
FCF —
FY24
Gross —
Operating —
Net —
FCF —
FY25
Gross —
Operating —
Net —
FCF —
FY26
Gross —
Operating —
Net —
FCF —
Gross
Operating
Net
FCF
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Net income and earnings per share
Loss periods are shown in red.
KIRA summarises the numbers
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New Horizon Aircraft Ltd. lost $24.0M in fiscal 2026.
Net income
FY23
Net income −$0.9M
FY24
Net income −$6.0M
FY25
Net income $3.7M
FY26
Net income −$24.0M
Net income
Q2 '24
Net income −$0.5M
Q3 '24
Net income −$3.9M
Q4 '24
Net income −$1.2M
Q1 '25
Net income −$2.1M
Q2 '25
Net income $14.3M
Q3 '25
Net income −$3.5M
Q4 '25
Net income −$4.7M
Q1 '26
Net income −$7.9M
Q2 '26
Net income −$6.2M
Q3 '26
Net income −$5.0M
Q4 '26
Net income −$4.8M
Q1 '27
Net income −$2.9M
Diluted EPS
FY23
Diluted EPS −$0.13
FY24
Diluted EPS −$0.56
FY25
Diluted EPS $0.12
FY26
Diluted EPS −$0.56
Diluted EPS
Q2 '24
Diluted EPS −$0.11
Q3 '24
Diluted EPS −$0.33
Q4 '24
Diluted EPS −$0.06
Q1 '25
Diluted EPS −$0.11
Q2 '25
Diluted EPS $0.58
Q3 '25
Diluted EPS −$0.12
Q4 '25
Diluted EPS −$0.22
Q1 '26
Diluted EPS −$0.21
Q2 '26
Diluted EPS −$0.15
Q3 '26
Diluted EPS −$0.12
Q4 '26
Diluted EPS −$0.08
Q1 '27
Diluted EPS −$0.04
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
KIRA summarises the numbers
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Free cash flow was −$12.7M in fiscal 2026.
Over the last four quarters it burned $16.5M; its $50.5M of cash and short-term investments would last about 3.1 years at that pace.
Free cash flow
FY23
Free cash flow —
FY24
Free cash flow −$2.6M
FY25
Free cash flow −$6.8M
FY26
Free cash flow −$12.7M
Free cash flow
Q2 '24
Free cash flow −$0.7M
Q3 '24
Free cash flow $0.4M
Q4 '24
Free cash flow −$1.9M
Q1 '25
Free cash flow —
Q2 '25
Free cash flow —
Q3 '25
Free cash flow −$1.9M
Q4 '25
Free cash flow −$1.8M
Q1 '26
Free cash flow −$1.8M
Q2 '26
Free cash flow −$2.3M
Q3 '26
Free cash flow −$5.1M
Q4 '26
Free cash flow −$3.5M
Q1 '27
Free cash flow −$5.6M
Cash from operations vs capital spending
FY23
Cash from operations −$0.8M
Capital spending —
FY24
Cash from operations −$2.4M
Capital spending $0.2M
FY25
Cash from operations −$6.7M
Capital spending $0.1M
FY26
Cash from operations −$12.0M
Capital spending $0.7M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q2 '24
Cash from operations −$0.7M
Capital spending $0.0M
Q3 '24
Cash from operations $0.4M
Capital spending $0.1M
Q4 '24
Cash from operations −$1.9M
Capital spending $0.0M
Q1 '25
Cash from operations −$1.1M
Capital spending —
Q2 '25
Cash from operations −$2.0M
Capital spending —
Q3 '25
Cash from operations −$1.8M
Capital spending $0.1M
Q4 '25
Cash from operations −$1.8M
Capital spending $0.0M
Q1 '26
Cash from operations −$1.7M
Capital spending $0.1M
Q2 '26
Cash from operations −$1.9M
Capital spending $0.4M
Q3 '26
Cash from operations −$5.0M
Capital spending $0.1M
Q4 '26
Cash from operations −$3.4M
Capital spending $0.1M
Q1 '27
Cash from operations −$5.1M
Capital spending $0.5M
Cash from operations
Capital spending
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Dividends, buybacks and share count
Dividends and buybacks
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
FY26
Dividends —
Buybacks —
Dividends
Buybacks
Diluted shares outstanding (annual)
FY23
Diluted shares 0.01B
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.03B
FY26
Diluted shares 0.04B
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
KIRA summarises the numbers
-
No open-market insider trades in the last 12 months.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 15, 2025 | Brian Frederick MerkerChief Executive Officer | Sold | 46,000 | $4.00 | $0.2M | Form 4 |
| Oct 15, 2025 | Eric Brandon RobinsonChief Executive Officer, Director | Sold | 100,000 | $3.42 | $0.3M | Form 4 |
| Oct 14, 2025 | Eric Brandon RobinsonChief Executive Officer, Director | Sold | 140,000 | $3.84 | $0.5M | Form 4 |
| Oct 14, 2025 | Stewart Murray LeeHead of People and Strategy | Sold | 100,000 | $3.72 | $0.4M | Form 4 |
| Sep 24, 2025 | Eric Brandon RobinsonChief Executive Officer, Director | Sold | 90,000 | $2.24 | $0.2M | Form 4 |
| Sep 23, 2025 | Eric Brandon RobinsonChief Executive Officer, Director | Sold | 90,000 | $2.23 | $0.2M | Form 4 |
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably New Horizon Aircraft Ltd. can carry it.
Cash vs debt (incl. leases)
FY23
Cash $0.2M
Debt $0.0M
FY24
Cash $1.3M
Debt —
FY25
Cash $5.5M
Debt $0.1M
FY26
Cash $56.7M
Debt —
Cash
Debt
| Fiscal year end | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Cash and short-term investments | $0.2M | $1.3M | $5.5M | $56.7M |
| Debt incl. finance leases | $0.0M | — | $0.1M | — |
| Debt / equity | — | — | 0.0x | — |
| Interest coverage | — | −34,214.0x | — | — |
| Current ratio | 0.2x | 3.5x | 6.2x | 22.8x |
| Quick ratio | 0.2x | 3.5x | 6.2x | 22.8x |
| Total assets | $0.3M | $3.6M | $6.1M | $60.7M |
| Total liabilities | $1.3M | $16.8M | $4.2M | $9.2M |
| Shareholders' equity | −$1.0M | −$13.1M | $1.9M | $51.5M |
| Net debt (− = net cash) | −$0.1M | — | −$5.4M | — |
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Return on capital, equity and assets (annual)
FY23
Return on capital —
Return on equity —
Return on assets −289.5%
FY24
Return on capital —
Return on equity —
Return on assets −306.0%
FY25
Return on capital —
Return on equity —
Return on assets 76.7%
FY26
Return on capital —
Return on equity −89.9%
Return on assets −71.9%
Return on capital
Return on equity
Return on assets
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| F-score | — / 3 | — / 6 | — / 6 | — / 6 |
| Accruals ratio | −37.2% | −181.9% | 214.0% | −36.0% |
| Altman Z'' | −90.46 | −12.43 | −8.60 | 8.55 |
| Net income is positive | ✕ | ✕ | ✓ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✕ | ✓ |
| Debt fell relative to assets | — | — | — | — |
| Current ratio rose | — | ✓ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — |
| Revenue rose relative to assets | — | — | — | — |
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
All figures
Every number, year by year.
4 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Income statement | ||||
| Research and development | $0.5M | $0.7M | $2.6M | $9.6M |
| Operating income | −$1.1M | −$3.4M | −$9.7M | −$17.0M |
| Interest expense | — | $0.0M | — | — |
| Pretax income | −$0.9M | −$6.0M | $3.7M | −$24.0M |
| Net income | −$0.9M | −$6.0M | $3.7M | −$24.0M |
| Diluted EPS | −$0.13 | −$0.56 | $0.12 | −$0.56 |
| Diluted shares | 0.01B | 0.01B | 0.03B | 0.04B |
| Cash flow | ||||
| Cash from operations | −$0.8M | −$2.4M | −$6.7M | −$12.0M |
| Capital expenditure | — | $0.2M | $0.1M | $0.7M |
| Free cash flow | — | −$2.6M | −$6.8M | −$12.7M |
| Depreciation and amortization | $0.0M | $0.0M | $0.1M | $0.2M |
| Stock-based compensation | $0.0M | $0.0M | $1.1M | $5.2M |
| Balance sheet | ||||
| Cash and short-term investments | $0.2M | $1.3M | $5.5M | $56.7M |
| Total debt | $0.0M | — | $0.1M | — |
| Current assets | $0.2M | $3.4M | $5.9M | $60.0M |
| Current liabilities | $1.1M | $1.0M | $1.0M | $2.6M |
| Property and equipment, net | $0.0M | $0.2M | $0.2M | $0.6M |
| Total assets | $0.3M | $3.6M | $6.1M | $60.7M |
| Total liabilities | $1.3M | $16.8M | $4.2M | $9.2M |
| Preferred stock | — | — | $4.5M | $4.5M |
| Shareholders' equity | −$1.0M | −$13.1M | $1.9M | $51.5M |
| Returns | ||||
| Return on capital employed | 142.7% | −129.3% | −189.6% | −29.3% |
| Return on equity | — | — | — | −89.9% |
| Return on assets | −289.5% | −306.0% | 76.7% | −71.9% |
| Return on tangible equity | — | — | 198.6% | −46.6% |
| Growth | ||||
| Net income growth | — | — | — | −744.2% |
| EPS growth | — | — | — | −558.4% |
| Share count change | — | 46.3% | 187.0% | 39.9% |
| Financial health | ||||
| Debt / equity | — | — | 0.0x | — |
| Interest coverage | — | −34,214.0x | — | — |
| Current ratio | 0.2x | 3.5x | 6.2x | 22.8x |
| Quick ratio | 0.2x | 3.5x | 6.2x | 22.8x |
| Quality scores | ||||
| Altman Z'' | −90.5 | −12.4 | −8.6 | 8.5 |
| Accruals ratio | −37.2% | −181.9% | 214.0% | −36.0% |
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
News and filings
What has been written and filed lately?
Latest SEC filings
The original documents every number on this page comes from.
Source: SEC EDGAR XBRL filings (CIK 0001930021). Data updated November 1, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.