EQS-Adhoc: Mynaric Publishes Outlook Including Revenue Guidance for Full-Year 2024

MUNICH, June 20, 2024 – Mynaric AG (NASDAQ: MYNA; ISIN: US62857X1019) (FRA: M0YN; ISIN: DE000A31C305) (the “Company”) provides today its outlook for the fiscal year 2024, which for the first time includes quantitative guidance for its key performance indicators revenue and operating loss.

Based on the Company’s production ramp results to date in fiscal year 2024 as well as the current projected production plans and available liquidity projections for fiscal year 2024, the management board of the Company decided today on the following outlook for fiscal year 2024:

Revenue                                                               €50 million – €70 million

Operating loss                                                      -€40 million – -€30 million

Cash-in from customer contracts⁽¹⁾                         €65 million – €100 million

Optical communications terminal backlog⁽²⁾            800 – 1,000 units

For the fiscal year 2024, our revenue outlook is driven by shipments of CONDOR Mk3 units to multiple customers. This outlook assumes we are able to ramp to our current production plans. This outlook remains at the lower end of the most recent published analyst estimates for 2024 (for which the arithmetic average is approximately €65 million).

We expect our operating loss for the fiscal year 2024 to decrease significantly from last year’s level due to higher revenue levels. This outlook remains in-line with the most recent published analyst estimates for 2024 (for which the arithmetic average is approximately -€36 million).

For the fiscal year 2024, our cash-in from customer contracts outlook reflects both cash-in from terminal shipments as well as customer pre-payments for new business wins.

For the fiscal year 2024, our optical communications terminal shipments backlog outlook reflects expected new wins in the government and commercial sectors more than offsetting our projected shipments for 2024.

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⁽¹⁾ Cash-in from customer contracts includes payments from customers under purchase orders and other signed agreements, including accrued payment milestones under customer programs.

⁽²⁾ Optical communications terminal backlog represents the quantity of all open optical communications terminal deliverables in the context of signed customer programs at the end of a reporting period.

Further explanations about how Mynaric uses these key performance indicators can be found in Mynaric’s annual report on Form 20-F for 2023, which is available on Mynaric’s website.

About Mynaric 

Mynaric (NASDAQ: MYNA)(FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C. For more information, visit mynaric.com.

Forward-Looking Statement

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