New Horizon Aircraft's fourth quarter update highlights a $78.3 million cash position, reaffirming the Cavorite X7 prototype testing timeline.

New Horizon Aircraft provided an operational update for its fourth quarter of fiscal 2026, focusing on development progress rather than financial metrics. The company did not report revenue or EPS but highlighted a strong cash position and confirmed key development milestones for its Cavorite X7 VTOL aircraft.

Key Highlights

• The company reported a strengthened balance sheet with $78.3 million in cash, providing what it estimates to be more than 24 months of liquidity to fund operations.
• Management confirmed the first full-scale Cavorite X7 prototype remains on track to begin initial testing in the first quarter of calendar 2027, meeting a key investor focus.
• Development is advancing through strategic manufacturing partnerships, including with BETA Technologies for flight control systems and RAMPF Composite Solutions for the main fuselage.