Horizon Aircraft Reports Fiscal 2026 Fourth Quarter Results, Strengthens Balance Sheet to $78.3 Million, and Advances Full-Scale Cavorite X7 Development

About this update from New Horizon Aircraft Ltd.

TORONTO, ON / ACCESS Newswire / 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 : "This year marked a transformational period in which Horizon Aircraft moved from technology validation to full-scale aircraft development," said Brandon Robinson, Co-Founder and CEO of Horizon Aircraft. "With our strong balance sheet, increasing strategic partnerships, and a technical team that is executing our development roadmap, I couldn't be happier about the future." Management expects key upcoming milestones to include continued subsystem integration, advancement of the full-scale prototype build, expansion of the engineering organization, and ongoing engagement with certification authorities and strategic suppliers. For more information, visit Horizon Aircraft's website or watch its innovative technology in action on the Company's YouTube channel . Information on Horizon Aircraft's website does not constitute a part of and is not incorporated by reference into this press release. Webcasted Earnings Call The Company will host a webcast and conference call on Thursday, July 16, 2026 at 8:30 a.m. Eastern Time to discuss its financial results and provide a business update. The webcast will feature a video presentation by Horizon Aircraft CEO Brandon Robinson and CFO Brian Merker, accompanied by supporting visual content.

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