NASDAQ$HOVR
New Horizon Aircraft Ltd · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
New Horizon reported a quarterly profit in Q4 2025 driven by a non-operating gain, despite no revenue generation.
New Horizon Aircraft Ltd. posted positive EPS in Q4 2025 due to a CAD $21.4M gain on the termination of a forward purchase agreement. The company remains in the pre-revenue phase as it advances development of its Cavorite X7 aircraft.
- Posted net income of $5.2M in Q4 despite having no revenue.
- EPS was $0.20, with adjusted EPS of $0.17.
- Gain of $21.4M recorded from forward purchase termination.
- Company remains in development stage with no reported revenue yet.
Headline financials
Revenue & EPS history
New Horizon · Revenue · Quarterly
C$0
Forward guidance
No specific revenue or earnings guidance was provided, but the company reiterated its development roadmap for the Cavorite X7 with planned flight testing in 2026 or 2027.
Tailwinds
- Successful completion of 50%-scale prototype flight testing.
- Full-scale aircraft build in progress with testing planned for 2026–2027.
- Maintains strong IP portfolio with 31 issued or allowed patents.
- Exploring government grant opportunities for sustainable aviation tech.
- No material debt and positive cash balance reported.
Headwinds
- No revenue generated to date from product sales.
- Expected continued operating losses through fiscal 2026.
- Significant R&D expenses anticipated as development ramps up.
- Commercial certification and production not expected before 2029–2030.
- Market development for regional eVTOL is still early and unproven.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 13 quarterly earnings reports · overlaid with Q4 2025
-3.0%
Avg return
Earnings day
+6.0%
Avg return
5 days after
-1.4%
Avg return
30 days after
36%
5 / 14 earnings
Positive
+7.6%
Q1 2025
Best reaction
-16.0%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | -1.9% | +17.3% | +54.5% | |
| Q2 2026 | +5.6% | +8.0% | -11.6% | |
| Q1 2026 | -16.0% | +5.8% | -40.4% | |
| Q4 2025 | +2.6% | +15.8% | +41.1% | |
| Q3 2025 | +0.6% | -0.6% | +81.1% | |
| Q2 2025 | -4.4% | +4.1% | -32.4% | |
| Q1 2025 | +7.6% | +12.5% | +0.7% | |
| Q2 2024 | -13.5% | +23.0% | +7.2% | |
| Q4 2024 | -13.5% | +23.0% | +7.2% | |
| Q4 2023 | +0.0% | -7.5% | -58.3% | |
| Q3 2024 | +0.0% | -7.5% | -58.3% | |
| Q1 2024 | -9.9% | -10.3% | -11.9% | |
| Q4 2022 | +0.0% | +0.0% | +0.4% | |
| Q3 2023 | +0.1% | +0.4% | +1.3% | |
| Q4 2021 | — | — | — |
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