Horizon Aircraft Reports Q1 Fiscal 2026 Results and Progress

Toronto-based Horizon Aircraft has announced its financial results for the first quarter of fiscal 2026. The company is advancing in the aerospace sector, notably with the development of the Cavorite X7, a hybrid electric Vertical Take-Off and Landing (eVTOL) aircraft. A full-scale version of this aircraft is now under construction following a successful prototype flight in May 2025. It is anticipated to be ready for testing in 18 months.

Key achievements for the quarter include the completion of platform-level architecture and main wing propulsion units, which are currently in the testing phase. These developments are part of the patented HOVR Wing technology. Horizon Aircraft maintains 18 months of working capital, aided by streamlined operations and non-dilutive government funding.

The company has also expanded its team, adding new talent to bolster its engineering resources. CEO Brandon Robinson highlighted a focus on developing power and aerodynamic systems for future testing. CFO Brian Merker assured that existing capital will suffice to prepare the prototype for testing within the 18-month timeline.