New Horizon Aircraft Ltd. (HOVR) Income Statement
HOVR 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsHOVR revenue and net income
HOVR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HOVR income statement in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | C$0 | C$0 | C$0 | C$0 | C$0 |
| Cost of revenue | — | — | — | C$435,959 | C$613,386 |
| Gross profit | — | — | — | −C$435,959 | −C$613,386 |
| Research & development | C$3.7M | C$880,000 | C$880,000 | C$676,000 | C$666,019 |
| Sales, general & admin | C$9.9M | C$3.7M | C$3.7M | C$787,000 | C$1.1M |
| Total operating expenses | C$13.6M | C$4.6M | C$1.7M | C$1.5M | C$1.8M |
| Operating income | −C$13.6M | −C$4.6M | −C$1.7M | −C$1.5M | −C$1.8M |
| Interest income | C$671,000 | C$123,000 | C$5.2M | — | — |
| Interest expense | — | C$164,325 | — | C$74,329 | C$2,151 |
| Income before taxes | C$5.2M | −C$8.2M | −C$8.2M | −C$1.2M | −C$1.7M |
| Income taxes | — | — | C$1.1M | C$64,620 | C$144,068 |
| Net income | C$5.2M | −C$8.2M | −C$6.0M | −C$1.2M | −C$1.7M |
| EBITDA | C$5.3M | −C$7.9M | −C$7.8M | −C$1.2M | −C$1.6M |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$42,000 | C$0 | C$0 |
| Cost of revenue | C$127,982 | C$111,635 | C$78,433 | C$57,077 | — | — | — | — | C$21,909 | C$11,005 | — | C$21,000 |
| Gross profit | −C$127,982 | −C$111,635 | −C$78,433 | −C$57,077 | — | — | — | — | −C$21,909 | C$30,995 | — | −C$21,000 |
| Research & development | C$7.4M | C$2.9M | C$5.8M | C$2.6M | C$2.7M | C$2.5M | C$443,000 | C$427,000 | C$297,000 | C$245,000 | C$245,000 | C$270,000 |
| Sales, general & admin | C$1.7M | C$16,728 | C$4.5M | C$2.5M | C$3.2M | C$1.6M | C$3.1M | C$2.8M | C$2.4M | C$1.9M | C$1.9M | C$1.0M |
| Total operating expenses | C$9.1M | C$4.8M | C$7.6M | C$5.1M | C$5.9M | C$4.1M | C$3.6M | C$3.3M | C$2.7M | C$2.2M | C$2.2M | C$1.3M |
| Operating income | −C$9.1M | −C$4.9M | −C$7.6M | −C$5.1M | −C$5.9M | −C$4.1M | −C$3.6M | −C$3.3M | −C$2.7M | −C$2.2M | −C$2.2M | −C$1.3M |
| Interest expense | C$610,000 | — | — | — | — | C$48,000 | C$51,000 | C$13,000 | C$11,000 | C$8,521 | — | C$15,139 |
| Income before taxes | −C$4.1M | −C$6.7M | −C$6.9M | −C$8.7M | −C$10.9M | −C$6.6M | −C$4.9M | C$19.7M | −C$2.9M | −C$1.7M | −C$1.7M | −C$5.3M |
| Income taxes | — | — | — | — | — | — | −C$4.9M | C$19.7M | — | C$4 | — | C$60,586 |
| Net income | −C$4.1M | −C$6.7M | −C$6.9M | −C$8.7M | −C$10.9M | −C$6.6M | −C$4.9M | C$19.7M | −C$2.9M | −C$1.7M | −C$1.7M | −C$5.3M |
| EBITDA | −C$3.9M | −C$4.8M | −C$7.5M | −C$8.6M | −C$10.9M | −C$6.6M | −C$4.9M | C$19.7M | −C$2.9M | −C$1.7M | — | −C$5.3M |
| Gross margin | — | — | — | — | — | — | — | — | — | 73.8% | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | −5,142.9% | — | — |
| Net margin | — | — | — | — | — | — | — | — | — | −4,040.5% | — | — |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in HOVR's financial statements (latest annual report filed August 22, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HOVR financial results
New Horizon Aircraft reported no revenue in fiscal year 2025 (ended December 31, 2025). It had net income of C$5.2 million. Figures are in Canadian dollars, the currency of its financial statements.
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HOVR income statement FAQ
Does New Horizon Aircraft have revenue?
New Horizon Aircraft reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is New Horizon Aircraft profitable?
Yes. New Horizon Aircraft reported net income of C$5.2 million in fiscal 2025.
How much does New Horizon Aircraft spend on research and development?
New Horizon Aircraft spent C$3.7 million on research and development in fiscal 2025.
When does New Horizon Aircraft's fiscal year end?
New Horizon Aircraft's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on August 22, 2025.