Mynaric Announces Date of Preliminary Full-Year 2022 Financial Results Webcast and Provides Preliminary Full-Year 2022 Results Update

Rhea-AI Summary

Mynaric (NASDAQ:MYNA) reported preliminary unaudited financial results for 2022, indicating revenue of approximately EUR 4.4 million against a net operating loss of around EUR 73.8 million. The company had a backlog of 256 optical communications terminals, surpassing its earlier guidance of 250 units. Cash inflow from customer contracts in 2022 reached EUR 18.3 million, slightly below the projected EUR 20 million. Additionally, approximately EUR 11 million was invoiced in December 2022 and received in January 2023. Mynaric plans to conduct a webcast on April 27, 2023, to discuss these results in detail, which will be accessible through their Investor Relations page.

Positive

• Backlog of 256 optical communications terminals exceeds guidance of 250 units.
• Cash inflow from customer contracts reached EUR 18.3 million.

Negative

• Net operating loss of approximately EUR 73.8 million.
• Revenue of EUR 4.4 million is significantly lower than prior expectations.

MUNICH, GERMANY / ACCESSWIRE / April 25, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today reported selected preliminary unaudited full-year 2022 results. For the full year 2022, Mynaric expects revenue of approximately EUR 4.4 million and a net operating loss of approximately EUR 73.8 million. Earlier this year, Mynaric reported on its key performance indicators for 2022 with optical communications terminal backlog of 256 units (financial year 2022 guidance as of October 25, 2022: >250 units) and cash-in from customer contracts for 2022 of EUR 18.3 million (financial year 2022 guidance as of October 25, 2022: EUR >20 million) with an additional approximately EUR 11 million invoiced in December 2022, which was received in January 2023.

In addition, Mynaric has scheduled a webcast to discuss its preliminary unaudited full-year 2022 financial results for Thursday, April 27, 2023, at 12:00 p.m. Eastern Daylight Time (6:00 p.m. Central European Summer Time).

Prior to the webcast on Thursday, April 27, 2023, Mynaric will release preliminary unaudited full year 2022 financial results over the newswire and publish such results in the Investor Relations section on mynaric.com (https://mynaric.com/investor-relations/overview/).

The webcast will include a presentation of these preliminary results along with a Q&A session with members of the management board of Mynaric including Co-CEOs, Bulent Altan and 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 FY2022 Earnings Webcast Registration.

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

Investor contact
Tom Dinges
tom.dinges@mynaric.com
+1 (202) 900-8332

SOURCE: Mynaric AG

View source version on accesswire.com:
https://www.accesswire.com/751022/Mynaric-Announces-Date-of-Preliminary-Full-Year-2022-Financial-Results-Webcast-and-Provides-Preliminary-Full-Year-2022-Results-Update

FAQ

What were Mynaric's revenue and net operating loss for 2022?

Mynaric reported revenue of approximately EUR 4.4 million and a net operating loss of about EUR 73.8 million for 2022.

When will Mynaric discuss their 2022 financial results?

Mynaric will discuss their preliminary 2022 financial results during a webcast on April 27, 2023.

What was Mynaric's cash inflow from customer contracts in 2022?

Mynaric's cash inflow from customer contracts in 2022 was EUR 18.3 million.

How many optical communications terminals did Mynaric have in backlog?

Mynaric had a backlog of 256 optical communications terminals as of the end of 2022.

Did Mynaric meet its 2022 financial guidance?

Mynaric fell short of its revenue expectation of over EUR 20 million, achieving only EUR 18.3 million in cash inflow.