MUNICH, GERMANY / ACCESSWIRE / November 9, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) has today announced an update to full-year 2023 guidance for its key financial performance metrics:
| Optical Communications Terminal Backlog(1): the company now expects more than 500 units in backlog by the end of 2023, based on today's existing orders, compared to the previously communicated guidance of a significant increase relative to the 256 units reported at year-end 2022. The guidance is increased due to program wins throughout 2023 with multiple customers in both the government and commercial markets and delayed deliveries of terminals already in backlog. | ||
| Cash-In from Customer Contracts(2): the company now expects full-year 2023 guidance of more than EUR 30 million compared to the previously communicated guidance of a significant increase relative to the EUR 18.3 million reported for fiscal year 2022 for cash-in from customer contracts. The guidance is increased due to new program wins and achievement of existing program milestones throughout 2023. | ||
| IFRS-15 revenue: the company now expects full-year 2023 IFRS-15 revenue to remain around the same level as 2022 revenue of EUR 4.4 million compared to previous guidance of a significant increase. The guidance decrease is due to the production delay of CONDOR Mk3 that was previously scheduled to start in Q4 2023. Volume production and shipments of these units are now expected to start in Q1 2024. | ||
| Operating loss: the company now expects full-year 2023 operating loss to be around the same level as last year compared to previous guidance of a moderate decrease relative to the EUR 73.8 million operating loss reported for full-year 2022. This change in guidance is mainly driven by write-downs related to first generation product. |
(1) 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.
(2) Cash-In from Customer Contracts includes payments from customers under purchase orders and other signed agreements, including accrued payment milestones under customer programs.
Further explanations about how Mynaric uses these metrics can be found in Mynaric's Annual Report 2022, which has been published on Mynaric's investor relations website.
About Mynaric
Mynaric (NASDAQ:MYNA)(FRA:M0Y) 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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This release may include certain financial measures not presented in accordance with IFRS. Such financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing our financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss for the period or other measures of profitability, liquidity or performance under IFRS. You should be aware that our presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently.
SOURCE: Mynaric AG