EX-99.1 2 ea029810101ex99-1.htm PRESS RELEASE, DATED JULY 16, 2026 Exhibit 99.1 Horizon Aircraft Reports Fiscal 2026 Fourth Quarter Results, Strengthens Balance Sheet to $78.3 Million, and Advances Full-Scale Cavorite X7 Development TORONTO, July 16, 2026 - New Horizon Aircraft Ltd. (“Horizon Aircraft” or the “Company”) (NASDAQ: HOVR), an advanced aerospace company developing one of the first hybrid-electric Vertical Takeoff and Landing (VTOL) aircraft, today reported its financial and operational results for the fourth quarter of fiscal 2026 ending May 31, 2026. Recent Highlights: Strengthened balance sheet with $78.3 million in cash providing more than 24 months of liquidity to complete the full-scale demonstrator aircraft assembly and advance certification and manufacturing efforts; Technical progress toward the full-scale aircraft continues, with the first full-scale prototype on track to begin initial testing in the first quarter of calendar 2027; ───────────────────────────────────────────────────────────────────────────────────────────────── BETA Technologies’ advanced flight control computers will be used on the Cavorite X7. Through this partnership, …
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
New Horizon Aircraft Ltd.
HOVRNASDAQEQUITYCurrent
Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On July 16, 2026, New Horizon Aircraft Ltd. (the “Company”) issued a press release announcing its financial and operating results for the fiscal year ended May 31, 2026. The Company will also host an earnings call on July 16, 2026, during which the Company will discuss its financial results for the fiscal year ended May 31, 2026 and provide a business update.…
Company context
Horizon Aircraft (NASDAQ:HOVR) is an advanced aerospace company that is developing one of the world’s first hybrid-electric VTOL (Vertical Take-Off and Landing) aircraft designed to fly most of its mission in traditional wing-borne flight, offering industry-leading speed, range, and operational utility. Horizon Aircraft’s unique designs put the mission first and prioritize safety and performance. Upon successful completion of testing and certification of its full-scale aircraft, Horizon Aircraft intends to scale unit production to meet expected demand from regional aircraft operators, emergency service providers, and military customers.