NASDAQ : HOVR
New Horizon Aircraft Ltd. — Financial statements
Industrials · Aerospace & Defense · Canada
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Financial statements
Income statement
Fiscal year June - May; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 8.70M | 10.22M | 9.93M | 3.74M | 787.00K | 1.09M |
| Research & Development | 17.95M | 13.24M | 3.66M | 880.00K | 676.00K | 666.02K |
| Operating Expenses | 26.66M | 23.47M | 13.59M | 4.62M | 1.46M | 1.78M |
| Operating Income | -26.66M | -23.47M | -13.59M | -4.62M | -1.46M | -1.78M |
| Interest Expense | -163.00K | -74.00K | -2.15K | |||
| Interest & Investment Income | 1.16M | 671.00K | 123.00K | |||
| Currency Exchange Gain (Loss) | -11.94K | |||||
| Other Non Operating Income (Expenses) | -770.00K | -10.30M | 18.66M | -3.37M | 290.00K | 141.92K |
| Pretax Income | -26.26M | -33.10M | 5.20M | -8.16M | -1.25M | -1.65M |
| Net Income | -26.26M | -33.10M | 5.20M | -8.16M | -1.25M | -1.65M |
| Net Income to Common | -26.26M | -33.10M | 5.20M | -8.16M | -1.25M | -1.65M |
| Shares Outstanding (Basic) | 50.17M | 43.05M | 25.84M | 10.72M | 7.33M | 5.27M |
| Shares Outstanding (Diluted) | 50.17M | 43.05M | 30.76M | 10.72M | 7.33M | 5.27M |
| EPS (Basic) | -0.52 | -0.77 | 0.20 | -0.76 | -0.17 | -0.31 |
| EPS (Diluted) | -0.52 | -0.77 | 0.17 | -0.76 | -0.17 | -0.31 |
| Free Cash Flow | -22.84M | -17.46M | -9.45M | -3.52M | -1.09M | -1.67M |
| Free Cash Flow Per Share | -0.46 | -0.41 | -0.31 | -0.33 | -0.15 | -0.32 |
| EBITDA | -26.28M | -23.17M | -13.45M | -4.57M | -1.44M | -1.76M |
| D&A For EBITDA | 375.00K | 298.00K | 138.00K | 56.00K | 27.00K | 24.26K |
| EBIT | -26.66M | -23.47M | -13.59M | -4.62M | -1.46M | -1.78M |
Balance sheet
Fiscal year June - May; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 70.06M | 78.28M | 7.55M | 1.82M | 228.00K | 4.32K |
| Cash & Short-Term Investments | 70.06M | 78.28M | 7.55M | 1.82M | 228.00K | 4.32K |
| Other Receivables | 1.21M | 798.00K | 96.00K | 417.00K | 15.00K | |
| Receivables | 1.21M | 798.00K | 96.00K | 417.00K | 15.00K | |
| Prepaid Expenses | 2.57M | 3.77M | 530.00K | 2.43M | 3.00K | 2.51K |
| Total Current Assets | 73.84M | 82.85M | 8.17M | 4.66M | 246.00K | 6.83K |
| Property, Plant & Equipment | 1.48M | 950.00K | 239.00K | 280.00K | 194.00K | 262.41K |
| Long-Term Deferred Charges | 894.78K | |||||
| Total Assets | 75.31M | 83.80M | 8.41M | 4.94M | 440.00K | 1.16M |
| Accounts Payable | 1.62M | 2.77M | 679.00K | 715.00K | 172.00K | 159.91K |
| Accrued Expenses | 783.00K | 818.00K | 625.00K | 574.00K | 48.00K | 50.15K |
| Short-Term Debt | 1.18M | 90.11K | ||||
| Current Portion of Long-Term Debt | 37.00K | |||||
| Current Portion of Leases | 46.00K | 51.00K | 22.00K | 44.00K | 49.00K | 57.52K |
| Other Current Liabilities | -23.23K | |||||
| Total Current Liabilities | 2.45M | 3.64M | 1.33M | 1.33M | 1.49M | 334.46K |
| Long-Term Debt | 263.00K | 1.98M | ||||
| Long-Term Leases | 7.00K | 21.00K | 8.00K | 30.00K | 74.00K | 122.50K |
| Other Long-Term Liabilities | 5.20M | 9.03M | 4.49M | 21.51M | ||
| Total Liabilities | 7.66M | 12.69M | 5.82M | 22.88M | 1.82M | 2.44M |
| Common Stock | 175.78M | 166.71M | 84.56M | 74.41M | 5.08M | 3.10M |
| Additional Paid-In Capital | 55.00K | |||||
| Retained Earnings | -46.65M | -42.58M | -9.48M | -14.68M | -6.52M | -4.38M |
| Comprehensive Income & Other | -67.75M | -59.29M | -78.77M | -77.66M | ||
| Total Common Equity | 61.38M | 64.83M | -3.69M | -17.93M | -1.39M | -1.28M |
| Shareholders' Equity | 67.66M | 71.11M | 2.59M | -17.93M | -1.39M | -1.28M |
| Total Liabilities & Equity | 75.31M | 83.80M | 8.41M | 4.94M | 440.00K | 1.16M |
| Total Debt | 53.00K | 72.00K | 30.00K | 74.00K | 1.60M | 2.25M |
| Net Cash (Debt) | 70.01M | 78.21M | 7.52M | 1.74M | -1.38M | -2.25M |
| Net Cash Per Share | 1.40 | 1.82 | 0.24 | 0.16 | -0.19 | -0.43 |
| Filing Date Shares Outstanding | 67.12M | 66.83M | 39.21M | 18.61M | 7.33M | 5.27M |
| Total Common Shares Outstanding | 67.12M | 61.76M | 32.33M | 18.61M | 7.33M | 5.27M |
| Working Capital | 71.39M | 79.21M | 6.85M | 3.33M | -1.24M | -327.63K |
| Book Value Per Share | 0.91 | 1.05 | -0.11 | -0.96 | -0.19 | -0.24 |
| Tangible Book Value | 61.38M | 64.83M | -3.69M | -17.93M | -1.39M | -1.28M |
| Tangible Book Value Per Share | 0.91 | 1.05 | -0.11 | -0.96 | -0.19 | -0.24 |
| Machinery | 1.56M | 903.00K | 119.00K | 130.00K | 80.00K | 80.96K |
| Leasehold Improvements | 255.00K | 245.00K | 123.00K | 17.00K | 10.00K | 9.67K |
Cash flow statement
Fiscal year June - May; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -26.26M | -33.10M | 5.20M | -8.16M | -1.25M | -1.65M |
| Depreciation & Amortization | 375.00K | 298.00K | 138.00K | 56.00K | 27.00K | 24.26K |
| Stock-Based Compensation | 5.70M | 7.16M | 1.49M | 66.00K | 55.00K | |
| Other Operating Activities | 1.84M | 10.80M | -18.38M | 4.14M | 113.00K | 23.41K |
| Change in Accounts Receivable | -1.12M | -702.00K | 321.00K | -402.00K | -15.00K | |
| Change in Accounts Payable | 1.24M | 2.09M | -36.00K | 184.00K | 36.00K | -69.77K |
| Change in Other Net Operating Assets | -3.11M | -3.04M | 1.96M | 804.00K | -56.00K | 51.84K |
| Operating Cash Flow | -21.34M | -16.49M | -9.31M | -3.31M | -1.09M | -1.62M |
| Capital Expenditures | -1.50M | -967.00K | -142.00K | -209.00K | -44.41K | |
| Other Investing Activities | -86.17K | |||||
| Investing Cash Flow | -1.50M | -967.00K | -142.00K | -209.00K | -130.57K | |
| Short-Term Debt Issued | 6.70M | 1.03M | 2.08M | |||
| Long-Term Debt Issued | 18.00K | 300.00K | ||||
| Total Debt Issued | 6.72M | 1.33M | 2.08M | |||
| Short-Term Debt Repaid | -5.00K | |||||
| Long-Term Debt Repaid | -40.00K | -19.00K | -484.92K | |||
| Total Debt Repaid | -40.00K | -24.00K | -484.92K | |||
| Net Debt Issued (Repaid) | 6.68M | 1.31M | 1.60M | |||
| Issuance of Common Stock | 54.54M | 65.15M | 8.82M | |||
| Other Financing Activities | 23.05M | 23.05M | 92.00K | -1.57M | ||
| Financing Cash Flow | 76.63M | 88.19M | 15.19M | 5.11M | 1.31M | 1.60M |
| Net Cash Flow | 53.79M | 70.73M | 5.73M | 1.59M | 224.00K | -154.98K |
| Free Cash Flow | -22.84M | -17.46M | -9.45M | -3.52M | -1.09M | -1.67M |
| Free Cash Flow Per Share | -0.46 | -0.41 | -0.31 | -0.33 | -0.15 | -0.32 |
| Levered Free Cash Flow | -15.09M | -9.83M | -4.77M | -4.84M | -860.94K | |
| Unlevered Free Cash Flow | -15.09M | -9.83M | -4.77M | -4.74M | -814.69K | |
| Cash Interest Paid | 1.00K | 1.00K | 1.00K | 23.00K | 14.00K | |
| Change in Working Capital | -3.00M | -1.66M | 2.24M | 586.00K | -35.00K | -17.94K |
Ratios
Fiscal year June - May; amounts in CAD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 78.20M | 180.66M | 33.27M | 14.49M | 125.95M | |
| Enterprise Value | 27.70M | 170.84M | 31.26M | 11.30M | ||
| Last Close Price | 1.20 | 2.92 | 1.06 | 0.80 | 10.35 | |
| PE Ratio | 8.80 | |||||
| PB Ratio | 1.81 | 3.50 | 17.67 | -1.10 | -123.56 | |
| P/TBV Ratio | 1.80 | 3.84 | ||||
| Debt / Equity Ratio | 0.00 | 0.00 | 0.01 | -0.00 | -1.16 | -1.76 |
| Net Debt / Equity Ratio | -1.03 | -1.10 | -2.90 | 0.10 | -0.99 | -1.76 |
| Net Debt / EBITDA Ratio | 2.66 | 3.38 | 0.56 | 0.38 | -0.96 | -1.28 |
| Net Debt / FCF Ratio | 3.06 | 4.48 | 0.80 | 0.49 | -1.27 | -1.35 |
| Quick Ratio | 29.14 | 21.72 | 5.76 | 1.68 | 0.16 | 0.01 |
| Current Ratio | 30.19 | 22.76 | 6.16 | 3.50 | 0.17 | 0.02 |
| Return on Equity (ROE) | -66.94% | -89.81% | ||||
| Return on Assets (ROA) | -36.08% | -31.81% | -127.14% | -107.36% | -114.01% | |
| Return on Capital Employed (ROCE) | -36.60% | -29.30% | -191.70% | -128.10% | 139.60% | -214.70% |
| Earnings Yield | -32.47% | -13.29% | 11.36% | -41.29% | -0.73% | |
| FCF Yield | -20.55% | -7.01% | -20.66% | -17.80% | -0.64% | |
| Buyback Yield / Dilution | -65.50% | -39.94% | -187.01% | -46.29% | -38.91% |