Mynaric AG (NASDAQ:MYNA; ISIN: US62857X1019)(FRA:M0YN; ISIN: DE000A31C305) (the "Company") updates its full-year 2024 guidance published on August 20, 2024, for two of its key financial performance metrics.
IFRS-15 revenue: the Company now anticipates full-year 2024 IFRS-15 revenue of EUR 14.1 million compared to previous guidance of a range estimating between EUR 16.0 million to EUR 24.0 million. The guidance decrease reflects shipments of CONDOR Mk3 terminals, originally expected to ship in late 2024, to slip into early 2025, due to shortages of key components from suppliers. These delays resulted in approximately EUR 2.6 million of revenue for terminals previously expected to ship in 2024 now expected to ship and revenue recognized in early 2025.
Operating loss: the previous Company guidance of a range of operating loss estimating to range between a loss of EUR 55.0 million to EUR 50.0 million is unchanged.
Cash-In from Customer Contracts(1): the previous Company guidance estimating to range between EUR 45.0 million to EUR 50.0 million is unchanged.
Optical Communications Terminal Backlog(2): the Company now anticipates full-year optical communications terminal backlog at December 31, 2024 of 787 terminal units compared to the previously communicated Company guidance estimating to range between 800 to 1,000 terminal units. The guidance decrease is due to timing shifts in contracts for new terminal orders previously expected to close in 2024 now expected to close in 2025.
(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 metrics can be found in Mynaric's Annual Report 2023, which has been published on Mynaric's investor relations 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.
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