Mynaric Releases Preliminary 2023 Results and Forecasts 2024

Mynaric (NASDAQ: MYNA) (FRA: M0YN) has announced its preliminary, unaudited financial results for 2023, ending December 31, and has shared its outlook for 2024. The company, a leader in laser communications products, highlighted a year marked by milestones and strategic wins. CEO Mustafa Veziroglu noted significant achievements such as a record backlog of optical terminals and the first shipment of the CONDOR Mk3 in early 2024.

Key highlights from 2023 include an optical communications terminal backlog of 794 units, up from 256 in 2022, and cash inflows from customer contracts amounting to EUR 49.2 million. Major contracts were secured with Northrop Grumman, York Space Systems, and Loft Federal, among others. Additionally, a new US$20 million deferred draw term loan facility was secured in April 2024 to support working capital.

For 2024, Mynaric forecasts revenues between EUR 50 – EUR 70 million, an operating loss of EUR 30 – EUR 40 million, and an optical communications terminal backlog of 800 – 1,000 units. The company anticipates higher revenues to notably reduce its operating loss and expects cash inflows from customer contracts between EUR 65 – EUR 100 million, driven by shipments and pre-payments.