Mynaric AG

Mynaric AG engages in the provision of laser communication solutions. It engages in the business of development, manufacture, sale, and operation of laser communication network equipment, software, systems, and solutions, particularly for aerospace applications and related products. It operates through the Space segment and Air segment. The Space segment is composed of the CONDOR terminal. The Air segment represents the HAWK terminal. The company was founded by Markus Knapek, Joachim Horwath, and Dirk Giggenbach on June 15, 2009 and is headquartered in Gilching, Germany.

Mynaric AG engages in the provision of laser communication solutions. It engages in the business of development, manufacture, sale, and operation of laser communication network equipment, software, systems, and solutions, particularly for aerospace applications and related products. It operates through the Space and Air segment. The Space segment is composed of the CONDOR terminal. The Air segment represents the HAWK terminal. The company was founded by Markus Knapek, Joachim Horwath, and Dirk Giggenbach in 2009 and is headquartered in Gilching, Germany.

NEW YORK--(BUSINESS WIRE)---- $MYNA #Investigation--The law firm of Kirby McInerney LLP is investigating potential claims against Mynaric AG (“Mynaric” or the “Company”) (NASDAQ: MYNA). The investigation concerns whether Mynaric and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here to learn more about the investigation] On August 20, 2024, Mynaric issued a press release providing an update to its full-year 2024 guidance, advising that “.

Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Mynaric AG (MYNA)

MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mustafa Veziroglu, the chairman of the Management Board of Mynaric AG (NASDAQ:MYNA; ISIN: US62857X1019)(FRA:M0YN; ISIN: DE000A31C305) and the Supervisory Board of Mynaric AG today agreed to terminate in mutual consent the appointment of Mr. Veziroglu as chairman and member of the Management Board of Mynaric AG with immediate effect.

Departure of Mustafa Veziroglu from the Management Board and Appointment of Andreas Reif as Chief Restructuring Officer

MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mynaric (NASDAQ:MYNA), a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced that the supervisory board and the chief executive officer, Mustafa Veziroglu, jointly decided on the termination of the office of Mustafa Veziroglu as CEO and member of the management board of Mynaric with immediate effect. Mustafa Veziroglu joined Mynaric's management board in August 2022 and most recently served as CEO of the company leading all operational product-related activities overseeing the entire product lifecycle from development through delivery.

Mynaric Announces Departure of Mustafa Veziroglu as CEO and Appointment of Andreas Reif as Chief Restructuring Officer; Annual General Meeting 2024 of Mynaric Will be Postponed

SAN DIEGO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP is investigating whether Mynaric AG (NASDAQ: MYNA) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors' losses and whether they may be recovered under federal securities laws.

Johnson Fistel Announces it has Initiated a Class Action Investigation into Mynaric

Mynaric slashed its 2024 revenue guidance by nearly 70% at the midpoint, citing production delays in its laser communications product. The company also announced the departure of CFO Stefan Berndt von-Bulow.

Mynaric stock tanks after space lasers company slashes revenue guidance, announces CFO departure

MUNICH, GERMANY / ACCESSWIRE / August 20, 2024 / Today Mynaric (NASDAQ:MYNA)(FRA:M0YN) announces the voluntary departure of CFO Stefan Berndt von-Bülow for personal reasons, effective last week. Berndt von-Bülow has been with Mynaric since 2018 and assumed the role as CFO in 2020.

Mynaric Announces Voluntary Departure of CFO Stefan Berndt von-Bülow

MUNICH, GERMANY / ACCESSWIRE / August 20, 2024 / Mynaric AG (NASDAQ:MYNA; ISIN: US62857X1019)(FRA:M0YN; ISIN: DE000A31C305) (the "Company") has today resolved an update to full-year 2024 guidance published on June 20, 2024, for its key financial performance metrics: IFRS-15 revenue: the company now expects full-year 2024 IFRS-15 revenue to range between EUR 16.0 million to EUR 24.0 million compared to previous guidance of a range between EUR 50.0 million to EUR 70.0 million. The guidance decrease is due to production delays of CONDOR Mk3 caused by lower than expected production yields and component supplier shortages of key components.

Mynaric Lowers Revenue, Cash-In from Customer Contracts and Increases Operating Loss Guidance for 2024 Due to Slower than Expected Production Ramp and Higher Production Costs

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MUNICH, GERMANY / ACCESSWIRE / June 25, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced that it has been selected by ReOrbit to supply its CONDOR Mk3 terminal for its upcoming mission UKKO, aimed at demonstrating secure space-to-space and space-to-ground communication for Earth Observation. "At ReOrbit, we firmly believe that the space industry is now entering the era of horizontal consolidation and vertical cooperation.

ReOrbit selects Mynaric's CONDOR Mk3 for Space-to-Space and Space-to-Ground Laser Communications Demonstration

MUNICH, GERMANY / ACCESSWIRE / June 21, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) today announced that management will participate in the following upcoming investor conference during the second quarter of 2024: Jefferies Virtual Space Summit Virtual PresentationJune 25, 202411:00 a.m. EDT / 5:00 p.m.

Mynaric Announces Management Participation in Upcoming Investor Conference

Mynaric AG (NASDAQ:MYNA ) Q4 2023 Earnings Conference Call June 7, 2024 12:00 PM ET Company Participants Tom Dinges - Vice President of Investor Relations Mustafa Veziroglu - Chief Executive Officer Stefan Berndt-Von Bulow - Chief Financial Officer Conference Call Participants Greg Konrad - Jefferies Operator Hello, and thank you for standing by. Welcome to Mynaric Fiscal year 2023 Preliminary Results and Fiscal Year 2024 Outlook Webcast Call.

Mynaric AG (MYNA) Q4 2023 Earnings Call Transcript

MUNICH, GERMANY / ACCESSWIRE / June 20, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces preliminary unaudited results for the fiscal year ending December 31, 2023. "2023 marked a milestone year for Mynaric as we ended the year with record backlog of optical terminals, were awarded business with many marquee customers and prepared for serial production," said Mustafa Veziroglu, CEO of Mynaric.

Mynaric Announces Preliminary Full-Year 2023 Results and Provides Outlook for Full-Year 2024

MUNICH, GERMANY / ACCESSWIRE / June 20, 2024 / Mynaric AG (NASDAQ:MYNA) (ISIN: US62857X1019) (FRA:M0YN) (ISIN: DE000A31C305) (the "Company") provides today its outlook for the fiscal year 2024, which for the first time includes quantitative guidance for its key performance indicators revenue and operating loss. Based on the Company's production ramp results to date in fiscal year 2024 as well as the current projected production plans and available liquidity projections for fiscal year 2024, the management board of the Company decided today on the following outlook for fiscal year 2024: Revenue: €50 million - €70 million Operating loss: -€40 million - -€30 million Cash-in from customer contracts(1): €65 million - €100 million Optical communications terminal backlog(2): 800 - 1,000 units For the fiscal year 2024, our revenue outlook is driven by shipments of CONDOR Mk3 units to multiple customers.

Mynaric Publishes Outlook Including Revenue Guidance for Full-Year 2024

Rocket Lab USA

Laser Communications Manufacturer Expands Customer Roster LOS ANGELES, CA / ACCESSWIRE / May 7, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced that it has been selected by Rocket Lab USA, Inc (NASDAQ:RKLB) to supply free space optical terminals for the Space Development Agency's (SDA) Tranche 2 Transport Layer (T2TL) - Beta program. Rocket Lab was awarded the 18-vehicle program in January 2024.

Mynaric Selected by Rocket Lab for Space Development Agency's Tranche 2 Transport Layer - Beta Program

Initial Shipment Leaves Munich Production Facility MUNICH , April 3, 2024 /PRNewswire/ -- Mynaric (NASDAQ: MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced a milestone in the product maturity of the company's flagship free space optical communications terminal for space-to-space and space-to-ground applications - the CONDOR Mk3. Volume production for the optical communications terminal began early in the first quarter of 2024 with an initial shipment made last week following customer approval.

Volume Production Begins for Mynaric's Flagship Space Laser Terminal - CONDOR Mk3

MUNICH, GERMANY / ACCESSWIRE / March 30, 2024 / Mynaric AG (NASDAQ:MYNA)(ISIN: US62857X1019)(FRA:M0YN)(ISIN: DE000A31C305) (the "Company") today, following customer approval, shipped the first flight model CONDOR Mk3 optical head and updates the Company's volume production and shipment expectations as most recently provided on January 10, 2024. Serial production of CONDOR Mk3 terminals started in the first quarter of 2024, and the Company currently expects further increases in production and shipments to continue in the second quarter of 2024.

Mynaric Starts Volume Production and Makes Initial Shipment

MUNICH, GERMANY / ACCESSWIRE / March 14, 2024 / Mynaric AG (NASDAQ:MYNA; ISIN: US62857X1019)(FRA:M0YN; ISIN: DE000A31C305) (the "Company") today decided on an amendment to its existing US$75 million loan agreement with its US-based lenders, which are funds affiliated with a U.S.-based global investment management firm (the "Lenders"), to increase the borrowing capacity on the loan agreement by US$20 million utilizing a delayed draw facility provided on substantially the same terms and conditions as the existing term loan facility. As is the case for the existing term loan facility, the borrower under the delayed draw facility will be the Company's wholly-owned subsidiary, Mynaric USA Inc. The US$20 million delayed draw facility is available until September 2025 and, as is the case for the existing term loan facility, loans drawn thereunder will be guaranteed by the Company and each of its subsidiaries, and will be secured by a security interest in substantially all of the assets of the borrower and each of the guarantors.

Mynaric Increases USD 75 million Borrowing Capacity on Loan Agreement by USD 20 million

LOS ANGELES, CA / ACCESSWIRE / January 16, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, has been selected as a key development partner of Phase 2 of the Space-based adaptive communications node (Space-BACN) program of the Defense Advanced Research Projects Agency (DARPA). DARPA's Space-BACN program envisions a low-cost, scalable optical communications terminal that could be reconfigured to work with various optical intersatellite link standards allowing seamless communication among government and commercial LEO satellite constellations.

Mynaric Selected for Phase 2 of DARPA Space-BACN Program

MUNICH, GERMANY / ACCESSWIRE / January 10, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today reported on key performance indicators for the year ending December 31, 2023. As of December 31, 2023, the optical communications terminal backlog and cash-in from customer contracts is as follows: Optical communications terminal backlog: 794 units (FY23 guidance as of November 10, 2023: >500 units) Cash-in from customer contracts: EUR 49.2 million (FY23 guidance as of November 10, 2023: EUR >30 million) IFRS-15 revenue and operating loss: Based on preliminary, unaudited numbers the company expects revenue and operating loss in-line with the previously communicated range (FY23 guidance as of November 10, 2023: around the same level from 2022 of EUR 4.4 million for revenue and EUR 73.8 million for operating loss) The vast majority of the optical communications terminals in backlog as of December 31, 2023 includes deliverables with key aerospace and defense customers that are related to government-funded satellite constellations with the bulk deliveries scheduled to start in the first quarter of 2024 and continue into 2025 and 2026, which provides Mynaric with excellent revenue and cash flow visibility on these programs.

Mynaric Reports on Key Performance Indicators for 2023

MUNICH, GERMANY / ACCESSWIRE / December 13, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) has today entered into a definitive agreement with Northrop Grumman for the delivery of optical communication terminals in the framework of the U.S. Government's Space Development Agency Tranche 2 Transport Layer-Alpha space vehicles program. The contract, with a value of around US $33 million, foresees payment milestones starting early 2024 and continuing throughout 2025 with product deliveries beginning in 2024 and continuing until 2026.

Mynaric Receives US $33 million Order from Northrop Grumman

MUNICH, GERMANY / ACCESSWIRE / November 29, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) has today entered into a definitive agreement for an additional order from an existing undisclosed US-based customer for the delivery of CONDOR Mk3 optical communication terminals. The contract, with a value of around US $30 million, foresees payment milestones starting in 2023 and continuing throughout 2024 and 2025 with product deliveries beginning in mid-2024 and continuing into 2025.

Mynaric Secures Another Contract with a U.S. Customer for its CONDOR Mk3 Terminals

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.

Mynaric Updates Guidance for 2023

Mynaric develops laser communication technology for the aerospace and defense industries, with potential for commercial applications. The company's customer base includes government agencies and high-profile companies such as Northrop Grumman and L3Harris Technologies. MYNA faces competition from established aerospace giants and risks of shareholder dilution but has the potential for profitability in the future.

Mynaric: Not The Lasercom Tech Stock With Futuristic Stock Price Growth

MUNICH, GERMANY / ACCESSWIRE / November 2, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) has today entered into a definitive agreement with Northrop Grumman for the delivery of optical communication terminals in the framework of the U.S. government's Space Development Agency Tranche 2 Transport Layer-Beta space vehicles program. The contract with a value of around US-$ 25 million foresees payment milestones starting in 2023 and continuing throughout 2024 and 2025 with product deliveries beginning in 2024 and continuing until 2026.

Mynaric Receives US-$25 million Order from Northrop Grumman

MUNICH, GERMANY / ACCESSWIRE / November 1, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced that it entered into an additional definitive agreement with a previously undisclosed U.S.-based customer for the delivery of CONDOR Mk3 optical communication terminals. The order has a value of around $6 million, foresees payment milestones in Q4 2023 and 2024 and product deliveries in the second half of 2024.

News for Mynaric AG Stock (MYNA)