Mynaric AG outlines preliminary full-year 2023 results By Investing.com

Munich-based Mynaric AG, a provider of communication services, disclosed its preliminary financial results for the full year of 2023 on Thursday. The announcement, based on a Form 6-K filing with the U.S. Securities and Exchange Commission, offers a glimpse into the company’s financial performance.

According to the filing, Mynaric AG, which operates under the communication services industry classification, has provided a webcast detailing its financial outcomes for the year ended December 31, 2023. The preliminary results were made public in a corporate news release included as Exhibit 99.1 in the SEC filing.

Mynaric AG, listed under the SEC file number 001-41045, is a foreign private issuer that submits annual reports on Form 20-F. The company, with its principal executive offices located in Gilching, Germany, is incorporated under the laws of the jurisdiction labeled as ‘2M’, though the specific country was not detailed in the filing.

The financial results webcast is part of Mynaric AG’s regular disclosures to the investing public and regulatory authorities. The company, recognized by its organization name ’06 Technology’, did not provide specific financial figures in the excerpt of the SEC filing made available.

The report was signed by Stefan Berndt-von Bülow, Chief Financial Officer, and Felix Hacke, Authorized Representative, confirming compliance with the requirements of the Securities Exchange Act of 1934.

Investors and stakeholders interested in Mynaric AG’s performance will find the preliminary results significant for assessing the company’s financial health and prospects. The data provided in the webcast will offer insights into the company’s revenue, profit margins, and other critical financial metrics for the year 2023.

The details of the full-year financial results were not disclosed in the provided context, but the information is based on a press release statement and is intended to inform the company’s shareholders and potential investors about its financial status as of the end of 2023.

In other recent news, Mynaric has secured a $15 million deal with Rocket Lab for the Space Development Agency’s (SDA) Tranche 2 Transport Layer program. This contract will enable Mynaric to supply its CONDOR Mk3 terminals, with deliveries beginning in 2025 and extending into 2026. Rocket Lab will integrate Mynaric’s technology into its Pioneer satellite buses, a move that underlines the company’s growing influence in the aerospace sector.

In addition to this, Mynaric has initiated volume production of its CONDOR Mk3 optical communications terminal and made its first shipment. The Munich-based company’s system is designed for space-to-space and space-to-ground applications, marking a significant step in the product’s commercialization. The initial shipment will support the United States Space Development Agency’s (SDA) Tranche 1 Transport and Tracking Layer programs.

Furthermore, Mynaric has expanded its loan facility by $20 million with U.S.-based lenders. This additional liquidity, effective immediately, will be available until September 2025 and will support the company’s working capital requirements and general corporate purposes. These recent developments illustrate Mynaric’s strategic moves to strengthen its financial position and ensure sufficient funding for its operational and growth strategies.

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