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reported more than $70 million in cash as of August 31, 2026, and stated that management expects this liquidity to be sufficient to fund its current operating plan for at least the next 24 months.
The Canadian aerospace company, listed on NASDAQ under the ticker HOVR, disclosed these figures alongside its financial and operational results for the first quarter of fiscal 2027.
The company significantly increased research and development spending relative to general and administrative costs to advance its Cavorite X7 program.
According to the press release dated October 9, 2026, the full-scale demonstrator aircraft is expected to be completed by the first quarter of calendar 2027.
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