MUNICH - Mynaric AG (NASDAQ:MYNA), a provider of laser communication technology, has issued its financial outlook for the fiscal year 2024, anticipating revenues between €50 million and €70 million. The Munich-based company expects an operating loss in the range of €40 million to €30 million for the same period. This forecast aligns with the lower end of recent analyst estimates.
The company's revenue projections are primarily based on the anticipated delivery of its CONDOR Mk3 optical communication terminals. Mynaric's management believes that the revenue increase will lead to a significant reduction in operating loss compared to the previous year, in line with analyst expectations of around -€36 million.
Mynaric also anticipates cash-in from customer contracts to be between €65 million and €100 million. These figures include payments from terminal shipments and customer pre-payments for new business. Moreover, the company's backlog for optical communications terminal shipments is expected to range from 800 to 1,000 units, reflecting new customer acquisitions in both government and commercial sectors.
The optimistic outlook is supported by Mynaric's current production ramp results and projected production plans, combined with available liquidity for the fiscal year.
Mynaric specializes in producing optical communications terminals for various applications, including air, space, and mobile platforms. These terminals enable high-speed and secure data transmission over long distances and are used in wireless terrestrial, mobility, airborne, and space-based networks.
The company's forward-looking statements are based on expectations, projections, and assumptions about future events and trends that may influence financial performance. However, these statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially.
The information provided in this article is based on a press release statement from Mynaric AG.
In other recent news, Mynaric, a provider of laser communications products, has secured a significant deal with Rocket Lab USA, Inc. The contract, valued at approximately $15 million, involves supplying optical terminals for the Space Development Agency's Tranche 2 Transport Layer program. Deliveries are expected to commence in 2025 and continue into 2026.
The technology will be integrated into Rocket Lab's Pioneer satellite buses, marking a strategic step for Mynaric in providing critical laser communication hardware to significant aerospace players and government programs.
On a related note, Mynaric has initiated volume production of its CONDOR Mk3 optical communications terminal, with the first shipment already dispatched. This system, designed for space-to-space and space-to-ground applications, supports various programs, including the United States Space Development Agency's Tranche 1 Transport and Tracking Layer programs.
This development is in line with Mynaric's ongoing efforts to explore the use of free space optical communications in additional space programs.
These are the latest developments for Mynaric, which continues to strengthen its position in the laser communication sector. The company's technology has been recognized for its potential in various projects, including government initiatives and collaborations with major aerospace entities.
InvestingPro Insights
As Mynaric AG (NASDAQ:MYNA) sets its financial course for fiscal year 2024 with an anticipated revenue boost, the company's current market dynamics suggest caution. An InvestingPro analysis reveals a market capitalization of $98.1 million, reflecting the scale of the company within the industry.
Despite aiming for revenue growth, Mynaric operates with a significant debt burden, which could impact its ability to manage financial obligations, as indicated by an InvestingPro Tip highlighting the company's potential difficulties in making interest payments on its debt.
InvestingPro Data underscores the challenges ahead, with a negative Price to Earnings (P/E) ratio of -1.03 for the last twelve months as of Q4 2023, suggesting investors have concerns about future profitability. Moreover, the company's stock performance has been underwhelming, with a 1-month price total return of -15.02% and a 6-month price total return of -32.97%, indicating recent market skepticism.
Analysts following Mynaric AG, according to InvestingPro Tips, do not expect the company to be profitable this year. Yet, they anticipate sales growth in the current year, which could be a silver lining if the company manages to capitalize on its market opportunities.
For readers looking to delve deeper into Mynaric AG's financial health and future prospects, InvestingPro offers additional insights, with a total of 16 InvestingPro Tips available at: https://www.investing.com/pro/MYNA. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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