Horizon Aircraft Q2 update: Cavorite X7 prototype assembly on track for 2026, cash over $24M

New Horizon Aircraft Ltd.

2026-Q2 EPS reported -$0.49

Cash on hand exceeds $24M; management says sufficient capital through 2026.
Awarded ~$10.5M non-dilutive INSAT grant for all-weather eVTOL project.
Engineering team doubled YoY; plans to double headcount again by end of 2026.
Full-scale Cavorite X7 prototype assembly expected in 2026, initial testing early 2027.
No revenue or net income figures provided; no GAAP earnings disclosed.

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