New Horizon Aircraft Appoints Richard Alexander as Chief Engineer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
New Horizon Aircraft (HOVR) announces that Richard Alexander has been appointed Chief Engineer of Certified Programs of Horizon Aircraft as the Company advances its certification strategy, engineering maturation, and commercialization planning for its hybrid-electric Vertical Takeoff and Landing aircraft, the Cavorite X7. Richard will combine his experience with that of the Company's Co-Founder, Brian Robinson, to help deliver an operationally ready and certifiable aircraft. He most recently served as CAE's (CAE) Electric Aircraft Integrator leading the battery-electric conversion of the Piper Archer training aircraft.
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About HOVR
New Horizon Aircraft Ltd. is a Canada-based advanced aerospace company. The Company is engaged in designing and developing hybrid-electric vertical takeoff and landing (VTOL) prototype aircraft for future regional air mobility (RAM) networks. The Company's Cavorite X7 prototype can take off vertically, but once in flight, its patented HOVR wing system reverts to the configuration of a conventional airplane. It operates with up to 30% less hydrocarbon emissions than conventional aircraft conducting similar operations. It is designed with 14 redundant lift fans in hover, through which multiple failures can be tolerated. The Company's Cavorite X7 offers state and federal operations through search and rescue missions and supply delivery to zones affected by tornadoes, hurricanes, landslides, storms, floods, or forest fires. It also provides shuttle and transportation services, plus time-sensitive cargo and goods delivery in underserved, remote regions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
New Horizon Aircraft Secures $20 Million in Direct Offering
- Successful Financing: New Horizon Aircraft has successfully completed a registered direct offering of 9,254,889 Class A Ordinary Shares, raising approximately $20 million, which will fund the development of the Cavorite X7 aircraft program.
- Clear Use of Proceeds: The company intends to utilize the net proceeds from this offering to accelerate the development of the Cavorite X7 aircraft, as well as for working capital and general corporate purposes, indicating a proactive approach to future growth.
- Positive Market Reaction: The offering was facilitated by Titan Partners, a division of American Capital Partners, which reflects strong market confidence in New Horizon Aircraft and may enhance its competitive position in the aerospace sector.
- Innovative Technology Outlook: New Horizon Aircraft is focused on developing a hybrid-electric VTOL aircraft, and upon successful testing and certification, plans to scale production to meet demand from regional aircraft operators and emergency service providers, showcasing significant market potential.
See More
Horizon Aircraft to Participate in Multiple Upcoming Conferences
- Conference Participation: Horizon Aircraft will attend the eVTOL Insights North America Conference from April 29 to May 1, 2026, where management will engage in a live panel discussion and informal conversations, aiming to enhance the company's visibility in the electric VTOL aircraft sector.
- Strategic Overview Presentation: On May 4, 2026, at the Trickle Research Microcap Conference, management will present an overview of the company and its strategic direction, expected to attract more investor attention through a webcast, further driving company growth.
- Multiple Event Engagements: Horizon Aircraft will also participate in the Alberta Aerospace & Defence Summit on May 4-5 and the Sidoti Micro Cap Conference on May 20-21, conducting live discussions and one-on-one meetings to strengthen connections with potential investors and showcase its technological advantages.
- Future Outlook: The company plans to hold one-on-one meetings at the Jefferies 2026 Innovative Aerospace Virtual Summit on June 8 and the Jones Aerospace Evolution Conference on June 10, further promoting its hybrid-electric VTOL aircraft and scaling production to meet the demands of regional operators and military customers.
See More
New Horizon Aircraft Q3 Earnings Miss Expectations
- Earnings Report Disappointment: New Horizon Aircraft reported a Q3 GAAP EPS of -$0.16, missing expectations by $0.05, indicating challenges in profitability that could affect investor confidence.
- Stock Price Reaction: Despite the earnings miss, shares rose 6% in after-hours trading, suggesting a degree of market optimism regarding the company's future potential, possibly linked to investor confidence in its long-term strategy.
- Industry Comparison: In the quant ratings, JinkoSolar and PNC Financial led the top-rated names, while SL Green Realty and Badger Meter lagged, indicating that New Horizon Aircraft must work to improve its standing in a competitive market.
- Historical Financial Data: Historical financial data for New Horizon Aircraft shows some stability in past performance despite current short-term challenges, which may provide a foundation for future recovery.
See More
New Horizon Aircraft Reports Q2 GAAP EPS of -$0.21, Misses Estimates
- Disappointing Earnings: New Horizon Aircraft reported a Q2 GAAP EPS of -$0.21, missing expectations by $0.11, indicating challenges in profitability that could affect investor confidence.
- Investor Interest: Despite the poor earnings report, analysts remain focused on New Horizon Aircraft's potential in regional air mobility, which may attract long-term investors, especially amid a recovering aviation market.
- Historical Financial Data: Historical financial data for New Horizon Aircraft shows significant fluctuations in profitability over recent quarters, reflecting uncertainty in its competitive positioning, which could impact future financing capabilities.
- Rating Analysis: Seeking Alpha's quant rating indicates that New Horizon Aircraft's performance in the industry remains under scrutiny, prompting investors to carefully assess its future growth potential and associated risks.
See More
New Horizon Aircraft Secures $10.5M Non-Dilutive Grant to Advance Cavorite X7 Prototype Development
- Funding Support: New Horizon Aircraft has secured a $10.5 million non-dilutive grant for its all-weather eVTOL project, enhancing the company's financial flexibility to achieve its technological goals through 2026.
- R&D Progress: The full-scale hybrid-electric Cavorite X7 aircraft prototype is expected to be assembled in 2026, with initial testing planned for early 2027, marking significant advancements in the company's aerospace engineering efforts.
- Team Expansion: The engineering team has doubled year-over-year, with plans to double again by the end of 2026, indicating ongoing investments in technical development and production capacity to meet future market demands.
- Operational Efficiency Improvement: With increased R&D spending and reduced administrative costs, the company demonstrates higher operational efficiency while advancing full-scale aircraft production, laying a solid foundation for future growth.
See More
Bank of America (BAC) Expected to Report Q4 Earnings of $0.97 on $27.65 Billion Revenue
- Investment Banking Fee Rebound: A 42% year-over-year surge in global M&A activity is expected to drive a rebound in investment banking fees for major banks, indicating a resurgence in market vitality that could positively impact profitability for BAC and others.
- BAC Earnings Expectations: Bank of America is set to release its fourth-quarter earnings on Wednesday, with analysts forecasting earnings of $0.97 per share and quarterly revenue of $27.65 billion, reflecting the company's stable performance amid economic recovery.
- Market Focus on CEO Commentary: Investors will closely watch CEO Brian Moynihan's comments, particularly regarding the resilience of the U.S. consumer and assessments of global geopolitical risks, which could influence market sentiment and investment decisions.
- Kickoff of Major Bank Earnings Season: This week marks the official kickoff of the major bank earnings season, with JPMorgan Chase, Wells Fargo, and others set to report, and the market will closely monitor these reports for their impact on the overall financial market.
See More
New Horizon Aircraft Secures $20 Million in Direct Offering
- Successful Financing: New Horizon Aircraft has successfully completed a registered direct offering of 9,254,889 Class A Ordinary Shares, raising approximately $20 million, which will fund the development of the Cavorite X7 aircraft program.
- Clear Use of Proceeds: The company intends to utilize the net proceeds from this offering to accelerate the development of the Cavorite X7 aircraft, as well as for working capital and general corporate purposes, indicating a proactive approach to future growth.
- Positive Market Reaction: The offering was facilitated by Titan Partners, a division of American Capital Partners, which reflects strong market confidence in New Horizon Aircraft and may enhance its competitive position in the aerospace sector.
- Innovative Technology Outlook: New Horizon Aircraft is focused on developing a hybrid-electric VTOL aircraft, and upon successful testing and certification, plans to scale production to meet demand from regional aircraft operators and emergency service providers, showcasing significant market potential.
See More
Horizon Aircraft to Participate in Multiple Upcoming Conferences
- Conference Participation: Horizon Aircraft will attend the eVTOL Insights North America Conference from April 29 to May 1, 2026, where management will engage in a live panel discussion and informal conversations, aiming to enhance the company's visibility in the electric VTOL aircraft sector.
- Strategic Overview Presentation: On May 4, 2026, at the Trickle Research Microcap Conference, management will present an overview of the company and its strategic direction, expected to attract more investor attention through a webcast, further driving company growth.
- Multiple Event Engagements: Horizon Aircraft will also participate in the Alberta Aerospace & Defence Summit on May 4-5 and the Sidoti Micro Cap Conference on May 20-21, conducting live discussions and one-on-one meetings to strengthen connections with potential investors and showcase its technological advantages.
- Future Outlook: The company plans to hold one-on-one meetings at the Jefferies 2026 Innovative Aerospace Virtual Summit on June 8 and the Jones Aerospace Evolution Conference on June 10, further promoting its hybrid-electric VTOL aircraft and scaling production to meet the demands of regional operators and military customers.
See More
New Horizon Aircraft Q3 Earnings Miss Expectations
- Earnings Report Disappointment: New Horizon Aircraft reported a Q3 GAAP EPS of -$0.16, missing expectations by $0.05, indicating challenges in profitability that could affect investor confidence.
- Stock Price Reaction: Despite the earnings miss, shares rose 6% in after-hours trading, suggesting a degree of market optimism regarding the company's future potential, possibly linked to investor confidence in its long-term strategy.
- Industry Comparison: In the quant ratings, JinkoSolar and PNC Financial led the top-rated names, while SL Green Realty and Badger Meter lagged, indicating that New Horizon Aircraft must work to improve its standing in a competitive market.
- Historical Financial Data: Historical financial data for New Horizon Aircraft shows some stability in past performance despite current short-term challenges, which may provide a foundation for future recovery.
See More
New Horizon Aircraft Reports Q2 GAAP EPS of -$0.21, Misses Estimates
- Disappointing Earnings: New Horizon Aircraft reported a Q2 GAAP EPS of -$0.21, missing expectations by $0.11, indicating challenges in profitability that could affect investor confidence.
- Investor Interest: Despite the poor earnings report, analysts remain focused on New Horizon Aircraft's potential in regional air mobility, which may attract long-term investors, especially amid a recovering aviation market.
- Historical Financial Data: Historical financial data for New Horizon Aircraft shows significant fluctuations in profitability over recent quarters, reflecting uncertainty in its competitive positioning, which could impact future financing capabilities.
- Rating Analysis: Seeking Alpha's quant rating indicates that New Horizon Aircraft's performance in the industry remains under scrutiny, prompting investors to carefully assess its future growth potential and associated risks.
See More
New Horizon Aircraft Secures $10.5M Non-Dilutive Grant to Advance Cavorite X7 Prototype Development
- Funding Support: New Horizon Aircraft has secured a $10.5 million non-dilutive grant for its all-weather eVTOL project, enhancing the company's financial flexibility to achieve its technological goals through 2026.
- R&D Progress: The full-scale hybrid-electric Cavorite X7 aircraft prototype is expected to be assembled in 2026, with initial testing planned for early 2027, marking significant advancements in the company's aerospace engineering efforts.
- Team Expansion: The engineering team has doubled year-over-year, with plans to double again by the end of 2026, indicating ongoing investments in technical development and production capacity to meet future market demands.
- Operational Efficiency Improvement: With increased R&D spending and reduced administrative costs, the company demonstrates higher operational efficiency while advancing full-scale aircraft production, laying a solid foundation for future growth.
See More
Bank of America (BAC) Expected to Report Q4 Earnings of $0.97 on $27.65 Billion Revenue
- Investment Banking Fee Rebound: A 42% year-over-year surge in global M&A activity is expected to drive a rebound in investment banking fees for major banks, indicating a resurgence in market vitality that could positively impact profitability for BAC and others.
- BAC Earnings Expectations: Bank of America is set to release its fourth-quarter earnings on Wednesday, with analysts forecasting earnings of $0.97 per share and quarterly revenue of $27.65 billion, reflecting the company's stable performance amid economic recovery.
- Market Focus on CEO Commentary: Investors will closely watch CEO Brian Moynihan's comments, particularly regarding the resilience of the U.S. consumer and assessments of global geopolitical risks, which could influence market sentiment and investment decisions.
- Kickoff of Major Bank Earnings Season: This week marks the official kickoff of the major bank earnings season, with JPMorgan Chase, Wells Fargo, and others set to report, and the market will closely monitor these reports for their impact on the overall financial market.
See More
