Horizon Aircraft reports successful fan-in-wing transition flight

TORONTO - Horizon Aircraft (NASDAQ:HOVR), a $52.4 million market cap aerospace company, has completed one of the world’s first successful fan-in-wing forward transition flights with its large-scale prototype aircraft in May 2025, the company announced in its fourth quarter and annual financial results.

The aerospace engineering firm, which is developing a hybrid electric Vertical Take-Off and Landing (VTOL) aircraft, reported having approximately $17 million in cash, providing an estimated 18-month runway to complete its full-scale demonstrator aircraft. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 7.11.

"This was a pivotal year across all facets of our business – design, technical testing, personnel hires, and funding," said Brandon Robinson, CEO of Horizon Aircraft, in the press release statement.

The company highlighted its approach to commercialization, which it claims has resulted in reduced aircraft development costs compared to other eVTOL organizations. Horizon also noted recent additions to its engineering team, including Thomas Brassington, Justin Chapman, Andrea Mocellin, and John Wyzykowski.

Horizon Aircraft is developing the Cavorite X7, a hybrid eVTOL aircraft designed to operate primarily like a conventional aircraft while offering vertical take-off and landing capabilities. The company aims to target regional operators, emergency service providers, and military customers once testing and certification are completed.

The company trades on the NASDAQ under the ticker HOVR. Financial details for the quarter and fiscal year ended May 31, 2025 were included in the announcement, though specific revenue and profit figures were not highlighted in the press release. InvestingPro analysis shows the stock has surged nearly 200% over the past six months and currently trades at a P/E ratio of 5.67, close to its Fair Value. Subscribers can access 15 additional ProTips and detailed financial metrics on the platform.

In other recent news, Horizon Aircraft announced it has regained compliance with the Nasdaq Capital Market’s minimum bid requirement, as confirmed by The Nasdaq Stock Market. This development closes a compliance matter for the company, ensuring its continued listing. Horizon Aircraft is also advancing its technological capabilities through a new partnership with ZeroAvia to develop hydrogen-electric powertrains for its Cavorite X7 aircraft. The collaboration will focus on integrating ZeroAvia’s ZA600 hydrogen-electric powertrain, aiming to enhance research into zero-emission flight infrastructure and certification. Additionally, Horizon Aircraft has entered into a strategic partnership with MT-Propeller. This partnership marks Horizon’s first significant hardware commitment for its full-scale production aircraft, transitioning from prototype development to manufacturing. These recent developments reflect Horizon Aircraft’s ongoing efforts to innovate in the aerospace sector.

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