EQS-Adhoc: Mynaric updates its forecast for 2023

Munich, Germany November 9, 2023 – Mynaric (NASDAQ: MYNA) (FRA: M0YN) today announced an update to its full-year 2023 guidance for its key financial metrics:

• Order backlog for optical communication terminals⁽¹⁾: The company now expects an order backlog of more than 500 units by the end of 2023 based on today’s order backlog, compared to the previously communicated forecast of a significant increase compared to the 256 units reported at the end of 2022. The forecast is increased by new contract wins during 2023 with several customers in both the government and commercial markets, as well as the delay in delivery of terminals already in the backlog.

• Cash-in from customer contracts⁽²⁾: The company now expects cash-in from customer contracts of more than 30 million euros for the full year 2023, compared to the previously communicated forecast of a significant increase compared to the 18.3 million euros expected for cash-in for the 2022 financial year customer contracts were reported. The forecast is increased by new contract signings and the achievement of milestones from existing contracts in 2023.

• IFRS 15 Revenue: The company now expects IFRS 15 revenue for the full year 2023 to be at approximately the same level as 2022 revenue of EUR 4.4 million, compared to the previous one Forecast of a significant increase. The lowering of the forecast is due to the delay in production of CONDOR Mk3, which was originally scheduled to begin in the fourth quarter of 2023. Start of series production and delivery of the terminals is now expected for Q1 2024.

• Operating loss: The company now expects that the operating loss for the full year 2023 will be at approximately the same level as the previous year, compared to the previous forecast of a moderate decrease in operating loss of 73.8 million euros, which was reported for the full year 2022 . The forecast adjustment is primarily due to depreciation related to first generation products.

⁽¹⁾ The optical communications terminal backlog represents the quantity of all open optical communications terminals under signed customer contracts at the end of a reporting period.

⁽²⁾ Cash-in from customer contracts includes payments from customers under orders and other signed contracts, including milestone payments made under customer contracts.

Further explanation of how Mynaric uses these metrics can be found in the 2022 Annual Report published on Mynaric’s Investor Relations website.

About Mynaric

Mynaric (NASDAQ: MYNA)(FRA: M0YN) is leading the laser communications industrial revolution by producing optical communications terminals for aerospace and mobile applications. Laser communications networks provide connectivity from the sky, enabling ultra-high data rates and secure long-distance data transmission between moving objects for wireless terrestrial, mobile, airborne and space-based applications. The company is headquartered in Munich and has additional offices in Los Angeles, California, and Washington, DC

For more information, see mynaric.com.

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