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, 2022.
As of December 31, 2022, the optical communications terminal backlog and cash-in from customer contracts is as follows:
Optical communications terminal backlog: 256 units (FY22 guidance as of October 25, 2022: >250 units)
Cash-in from customer contracts: EUR 18.3 million (FY22 guidance as of October 25, 2022: EUR >20 million) with an additional approximately EUR 11 million invoiced in December 2022 of which EUR 1.1 million was received in early January and the remaining to be received by month end
Not included in the reported backlog and cash-in from customer contracts is the $24 million contract win announced on January 9, 2023.
The vast majority of the optical communications terminals in backlog as of December 31, 2022 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 second half of 2023 and continue into 2024, which provides Mynaric with excellent revenue and cash flow visibility on these programs.
“Mynaric finished 2022 strongly as the team executed extremely well achieving our backlog targets while delivering initial terminals to and hitting important milestones for our customers,” said Bulent Altan, CEO of Mynaric. “In 2023 we plan to produce and ship significant quantities of optical communications terminals to customers as part of contracted and prospective programs. We expect multiple large opportunities will hit the market in 2023 and we believe Mynaric is very well positioned to capitalize on what we anticipate will be a strong year and decade of growth for laser communications.”
“The record amount of cash-in from customers received in 2022 and early 2023 demonstrates our strong track record of execution for our customers on both existing and new programs,” said Stefan Berndt-von Buelow, CFO of Mynaric.
About Mynaric
Mynaric (NASDAQ: MYNA) (FRA: M0Y) 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.
