Arizona Tribune - Mynaric Updates Guidance on 2024 Key Performance Indicators, Lowering Revenue and Optical Communications Terminal Backlog Guidance

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.

Forward-Looking Statement

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The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Unless required under applicable law, neither we nor any other person undertakes any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release or otherwise. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may materially differ from what we expect.

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

P.A.Mendoza--AT