New Horizon Aircraft Ltd.

Ladies and gentlemen, thank you for standing by. Welcome to the New Horizon Aircraft Fiscal Second Quarter 2026 Earnings Conference Call. All participants are present in listen-only mode. Following management's prepared remarks, instructions will be given for the question and answer session. For operator assistance during the conference, please press star zero. If you would like to ask a question during this webcast, please click on the Ask Question box on the left side of your screen, type in your question, and hit Submit. As a reminder, this conference is being recorded and will be available for replay on the company's website at www.horizonaircraft.com later today. I would now like to turn the call over to Matt Chesler with Investor Relations. Matt, please go ahead.

Thank you, Operator, and good morning, everyone. Joining me on the call today are Horizon Aircraft's CEO, Brandon Robinson, and the company's CFO, Brian Merker. Before we get started, I would like to remind you that during today's call, we'll be making forward-looking statements. These statements involve risks and uncertainties that may cause actual results to differ materially. For more information about these risks and uncertainties, please refer to the risk factors section of New Horizons Aircraft's annual report on Form 10-K for the fiscal year ended May 31, 2025, and filed on August 22, 2025, as well as the Form 10-Q filed with the SEC today, all with the Securities and Exchange Commission, as well as other documents filed by New Horizons Aircraft with the SEC from time to time. Any forward-looking statements we make will be based on assumptions as of today. We undertake no obligation to update these statements as a result of new information or future events. And now, with all that, I would like to turn the call over to our CEO, Brandon Robinson, for his prepared remarks. Brandon, please go ahead.

Thanks, Matt, and good morning, everyone, and thank you for joining us today. This is truly a meaningful moment for Horizon Aircraft, as it is our first ever earnings call as a public company. I would like to start by welcoming our shareholders and potential investors and thanking our longstanding supporters for being with us at this exciting stage of our journey. As most of you know, we believe deeply in being transparent, direct, and realistic about both the opportunity in front of us and the work required to get there. Development of an advanced aircraft is complex, iterative, and progress is carefully earned milestone by milestone, as you've seen. Our goal in these calls is to clearly explain what we are building, why it matters, and how we intend to execute. So I'll start with the company overview and strategic positioning. So Ryzen Aircraft is developing the Cavarite X7, as many of you know. It's a unique eVTOL aircraft that we believe is fundamentally differentiated from the all-electric designs that dominate the current eVTOL landscape. First, our aircraft is hybrid electric-powered. Carrying a fuel source onboard the aircraft that is more than 40 times the energy density of the best aerospace batteries just made a lot of sense for our practical team. As such, the X-7 will be able to recharge itself airborne after landing, and of course, operate independent of any ground charging infrastructure. Second, by having a significant power generation element onboard alongside one of the world's most proven turbine engines, We aim to further the X-7's operational flexibility by seeking flight into known icing certification, very unique in this space. We are designing an aircraft for all weather IFR operations, just like the commercial aircraft that have become by far the safest means of travel for people traveling regional distances. Third, apart from its outstanding performance characteristics, the X-7 is being designed with a focus on safety, operational costs, and durability. These three pillars are essential for any viable air operation and means to deliver a product that will be widely adopted across the world in this rapidly expanding market. Finally, we are not planning to operate an air taxi business. We remain laser focused on being an OEM and building the very best modern VTOL aircraft that will provide operators and customers with a safe, economic, and enjoyable experience. So a bit on our technical progress and development roadmap. From a development standpoint, Horizon Aircraft continues to build momentum. Last May, as many of you know, we completed a successful full-wing transition flight of our large-scale prototype, a milestone achieved only by a small number of eVTOL developers globally. That achievement significantly de-risked our technical roadmap and provided valuable data that is now being applied directly to the full-scale Cabrite X7 program. Over the last two quarters, we have significantly expanded our technical and engineering team, added key personnel with deep experience in aerodynamics, aerostructures, propulsion, and system integration. The team expansion supports our transition from the demonstration aircraft to full prototype development, full-scale prototype development. And given our design development and engineering pathway ahead, we expect to continue adding key technical personnel so that we stay on track with our expected milestones. Our near-term goal is to complete the design and manufacture of the full-scale X-7 prototype by the end of 2026, with initial testing targeted for early 2027. It's a critical milestone and our top priority that underpins a future certification, customer engagement, and potential revenue opportunities. We have already made strong progress in recent months across a number of fronts on the progression of the X7 development program. Our collaboration with Pratt & Whitney, a global recognized leader in propulsion systems, represents an important validation of our technical approach and provides us with access to deep expertise as we advance DX7's propulsion architecture. This is a strategically significant step as we advance our full-scale prototype program. Last month, we partnered with Motion Applied, former high-performance technology arm of Formula One's McLaren Group. Pretty exciting. Now an independent Tier 1 technology provider, Motion Applied is strengthening our capabilities in power electronics, advanced systems integration, testing, and analysis. As aircraft development continues to accelerate, Having the right technical partners becomes increasingly important, and Motion Applied adds world-class depth to our engineering ecosystem. With an INSAT program, Initiative for Sustainable Aviation Technology, with our INSAT program grant awarded to Horizon Aircraft and our two collaborative partners for an estimated $10.5 million all-weather eVTOL project, we will directly advance our all-weather operational pathway. As previously highlighted, All weather capability is a key differentiator for our aircraft and a critical requirement for many commercial and military missions. The grant is particularly meaningful for Horizon Aircraft as it supports our development work without shareholder dilution, something we are especially mindful of going forward, and also a source of non-diluted funding we expect to continue pursuing in the years ahead. We'll go on to our financial position and capital runway now, and Brian will have more to say on this in a little bit. From a financial standpoint, though, we are well-funded with a cash balance of more than $24 million in the bank that provides us with our strongest liquidity position ever. We believe this is sufficient to fund the completion of our full-scale aircraft within the next 12 months and begin initial ground testing in early 2027, as I mentioned. Our strong balance sheet allows us the ability to continue executing our efficient development plan without feeling pressured into suboptimal financing decisions, while also giving us the flexibility as we evaluate strategic opportunities going forward. We continue to engage in ongoing discussions with several potential strategic partners, including aerospace and defense organizations regarding multiple paths forward. While we are encouraged by the level of interest, we remain disciplined in waiting for the right opportunity at the right time. and our strong cash position gives us the flexibility to prioritize long-term value creation over short-term announcements. On the industry perspective and differentiation, stepping back we believe the broader eVTOL industry is entering an interesting, much more sophisticated phase. As the excitement around early concepts matures, real-world considerations, speed, range, payload, required infrastructure, cost, operational robustness and flexibility These are all becoming increasingly important. We believe that this is where Horizon Aircraft stands apart. A hybrid electric gas eVTOL like the Calvary X7 will not be limited to being a quote-unquote taxi in the sky. It is designed to connect cities, move critical cargo, support medical evacuation, and serve defense and government missions. Markets that we believe will develop sooner and scale faster than many short-range infrastructure-dependent all-electric VTOL uses. With an expected cruising speed of almost 250 miles an hour, an estimated 500 mile range with fuel reserves and a 1500 pound useful load, the X-7 will have the potential to fly almost twice the speed of a comparable helicopter with significantly lower operating costs. We believe this positions Horizon Aircraft uniquely with the advanced air mobility ecosystem, a faster, safer, more cost-effective helicopter capability that has the potential to be extremely disruptive in this rapidly growing market. This is really an exciting time for the industry and for our company as it matures, and we are well-positioned to continue our rapid upward trajectory in 2026. So with that being said, I'd like to now pass it over to our CFO, Brian Merker, to discuss the financials in more detail. Brian, take it away.