Horizon Aircraft today provided its business update and financial results for the fourth quarter and year ended May 31, 2025. Highlights include: “one of the world’s first ever fan-in-wing forward transition flights in May 2025” with the company’s large-scale prototype aircraft; strong balance sheet with 18+ months of liquidity; efficient approach to commercialization resulting in significantly reduced aircraft development costs relative to other eVTOL organizations; hiring of Thomas Brassington, Justin Chapman, Andrea Mocellin, and John Wyzykowski to the engineering team; and significant commitments from government agencies for non-dilutive funding grants.”
“This was a pivotal year across all facets of our business – design, technical testing, personnel hires, and funding,” said Brandon Robinson, CEO of Horizon Aircraft. “Our achievements were highlighted in May 2025 by being one of the first eVTOL company to successfully achieve forward transition flight of a large-scale prototype that uses fan-in-wing technology. This milestone lends tremendous credibility to the design of our Cavorite X7 aircraft that is expected to lead the industry in all major performance categories, including speed, range, and payload.”
Horizon Aircraft CFO Brian Merker added, “With added resources from funding efforts in both fiscal 2025 and Q1 of fiscal 2026, we now have approximately CD17 million of cash and sufficient capital to complete our full-scale demonstrator aircraft over the next 18 months.”
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(Image: Horizon Aircraft)