Revenue: As of FY2026 Q2, the actual value is CAD 0.EPS: As of FY2026 Q2, the actual value is CAD -0.21.EBIT: As of FY2026 Q2, the actual value is CAD -5.311 M.NEW HORIZON AIRCRAFT LTD. operates as a single segment, and all financial metrics are consolidated .<h4>Operational Metrics</h4><ul><li>Net Income (Loss): The company reported a net loss of - $19,553 thousand CAD for the six months ended November 30, 2025, compared to a net income of $16,753 thousand CAD for the same period in 2024 .</li><li>Total Operating Expenses: Total operating expenses increased by $5,048 thousand CAD, from $5,979 thousand CAD in 2024 to $11,027 thousand CAD in 2025 .<ul><li>Research and Development Expenses: These expenses increased by $4,603 thousand CAD, reaching $5,327 thousand CAD in 2025, up from $724 thousand CAD in 2024, primarily due to additional labor, engineering costs, flight software, and data analysis for building the full-scale prototype aircraft . Compensation costs for R&amp;D were $4,114 thousand CAD in 2025 versus $663 thousand CAD in 2024, and engineering costs were $1,159 thousand CAD in 2025 versus $60 thousand CAD in 2024 .</li><li>General and Administrative Costs: These costs increased by $445 thousand CAD, from $5,255 thousand CAD in 2024 to $5,700 thousand CAD in 2025 .</li></ul></li><li>Loss from Operations: The loss from operations was - $11,027 thousand CAD in 2025, compared to - $5,979 thousand CAD in 2024 .</li><li>Other Expenses (Income): Other expenses were - $290 thousand CAD in 2025, compared to - $18 thousand CAD in 2024 .</li><li>Interest Expense (Income), Net: Net interest expense was - $313 thousand CAD in 2025, compared to - $24 thousand CAD in 2024 .</li><li>Change in Fair Value of Warrants: This resulted in an expense of $9,129 thousand CAD in 2025, a significant change from an income of - $2,030 thousand CAD in 2024 .</li><li>Change in Fair Value and Termination of Forward Purchase Agreement: This item was $0 thousand CAD in 2025, compared to an income of - $20,660 thousand CAD in 2024 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Cash used in operating activities increased by $788 thousand CAD, from - $4,184 thousand CAD in 2024 to - $4,972 thousand CAD in 2025, mainly due to increased operating costs partially offset by changes in non-cash working capital .</li><li>Net Cash Used in Investing Activities: Cash used in investing activities increased by $666 thousand CAD, from - $7 thousand CAD in 2024 to - $673 thousand CAD in 2025, primarily related to tooling and equipment for the full-scale prototype aircraft .</li><li>Net Cash Provided by Financing Activities: Cash provided by financing activities significantly increased by $19,140 thousand CAD, from $3,262 thousand CAD in 2024 to $22,402 thousand CAD in 2025, largely due to proceeds from the issuance of Class A ordinary shares and warrant exercises .</li><li>Net Change in Cash and Cash Equivalents: The company saw a net increase in cash of $16,757 thousand CAD in 2025, compared to a net decrease of - $929 thousand CAD in 2024 .</li><li>Cash and Cash Equivalents - End of Period: The period ended with $24,304 thousand CAD in cash and cash equivalents in 2025, compared to $887 thousand CAD in 2024 .</li></ul><h4>Unique Metrics</h4><ul><li>Warrant Activity: During the six months ended November 30, 2025, 3,200,000 warrants were exercised for 3,200,000 Class A ordinary shares, generating proceeds of $3,282 thousand CAD . As of November 30, 2025, 12,065,375 warrants at an exercise price of $11.50 USD and 10,000 warrants at $0.75 USD were outstanding .</li><li>Class A Ordinary Shares Issued under Sales Agreement: The company sold 6,003,936 Class A ordinary shares for net proceeds of $19,092 thousand CAD during the six months ended November 30, 2025 . As of November 30, 2025, $31.8 million USD remained eligible for sales under the Sales Agreement .</li><li>Stock-based Compensation: Stock-based compensation expenses for stock options were $373 thousand CAD for the six months ended November 30, 2025, and $1,449 thousand CAD for shares issued for services . The company issued 1,160,001 Performance Share Units (PSUs) on August 27, 2025, recording $3,651 thousand CAD in compensation expenses related to these PSUs .</li><li>Grants and Subsidies: NEW HORIZON AIRCRAFT LTD. was informed in October 2025 that its application to the Canadian government’s Initiative for Sustainable Aviation Technology (INSAT) fund was successful, for a project size of $10.5 million, with up to 40% reimbursement anticipated over the next six quarters . The company also received $50 thousand CAD as of November 30, 2025, from a $75 thousand CAD Green Fund project with DAIR .</li></ul><h4>Future Outlook and Strategy</h4>NEW HORIZON AIRCRAFT LTD. is focused on designing and developing a hybrid-electric eVTOL prototype aircraft, with flight testing for a full-scale demonstrator expected in 2027 and commercialization anticipated before 2030 . The company requires additional capital beyond the next 12 months to support operations and achieve long-term objectives, despite having over $24 million CAD in cash and cash equivalents . It plans to expedite its business plan, including hiring, if additional financing is secured through its Sales Agreement, warrants, or other means .

NEW HORIZON AIRCRAFT LTD C/WTS 14/02/2028 (TO PUR COM) | 10-Q: FY2026 Q2 Revenue: CAD 0