Mynaric Announces Half-Year 2023 Results

Continued traction on key performance indicators as company prepares for serial production and shipments to key customers in 2H23

MUNICH, September 14, 2023 –  Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces results for the half year ending June 30, 2023.

“In the first half of 2023 we showed continued success as we capitalize on the significant opportunity ahead of us and the adoption of laser communications across multiple domains accelerates,” said Mustafa Veziroglu, CEO of Mynaric. “We see the strongest pipeline of opportunities in our history and look forward to working with our customers as they look to build next generation communications networks.”

Key First Half 2023 Highlights

• Optical Communications Terminal Backlog at June 30, 2023 of 370 units compared to December 31, 2022 of 256 units and 348 as of April 27, 2023
• Cash in from Customer Contracts of EUR 23.0 million through June 30, 2023 compared to EUR 18.3 million in full-year 2022
• Multiple wins with key customers including Raytheon Technologies, Loft Federal, WARPSPACE and unnamed U.S.-based customer for CONDOR Mk3 Terminals
• Selected by German government for multiple projects to develop quantum communication capabilities
• Subsequently selected by the United States Space Development Agency to contribute to an optical ground terminal demonstration
• Raised EUR 80.6 million growth capital in April 2023 via a $75 million 5-year term loan debt and equity issuance to U.S.-based global investment management firm

“We are well ahead of this point last year in terms of cash-in from customer contracts and optical terminal backlog as we continue to execute for our customers,” said Stefan Berndt von-Bülow, CFO of Mynaric.

Outlook

Mynaric is providing the following key performance indicators outlook for 2023:

• A significant increase in Optical Communications Terminal Backlog compared to 2022 year-end level
• A significant increase in Cash-in from Customer Contracts compared to 2022 results

Report & webcast details

The half-year 2023 financial results are available from the Investor Relations section on mynaric.com. 

Mynaric has scheduled a webcast to discuss its half-year 2023 financial results to be held today, Thursday, September 14, 2023, at 12:00 p.m. Eastern Daylight Time (6:00 p.m. Central European Summer Time).

The conference call and webcast will include a presentation of these results along with a Q&A session with Mynaric executives including CEO, Mustafa Veziroglu, and CFO, Stefan Berndt-von Bülow.

Interested parties may listen to the webcast on the Investor Relations section of mynaric.com by pre-registering at the following registration link: Mynaric Half-Year 2023 Earnings Webcast Registration.

An archived version of the webcast along with corresponding slides will be available on the Investor Relations section of mynaric.com.

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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