Mynaric Publishes Outlook Including Revenue Guidance for Full-Year 2024

EQS-Ad-hoc: Mynaric AG / Key word(s): Forecast
Mynaric Publishes Outlook Including Revenue Guidance for Full-Year 2024

20-Jun-2024 / 17:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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MUNICH, 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 EUR50 million - EUR70 million

Operating loss -EUR40 million - -EUR30 million

Cash-in from customer contracts(1) EUR65 million - EUR100 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. This outlook assumes we are able to
ramp to our current production plans. This outlook remains at the lower end
of the most recent published analyst estimates for 2024 (for which the
arithmetic average is approximately EUR65 million).

We expect our operating loss for the fiscal year 2024 to decrease
significantly from last year's level due to higher revenue levels. This
outlook remains in-line with the most recent published analyst estimates for
2024 (for which the arithmetic average is approximately -EUR36 million).

For the fiscal year 2024, our cash-in from customer contracts outlook
reflects both cash-in from terminal shipments as well as customer
pre-payments for new business wins.

For the fiscal year 2024, our optical communications terminal shipments
backlog outlook reflects expected new wins in the government and commercial
sectors more than offsetting our projected shipments for 2024.

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(1) Cash-in from customer contracts includes payments from customers under
purchase orders and other signed agreements, including accrued payment
milestones under customer programs.

(2) Optical communications terminal backlog represents the quantity of all
open optical communications terminal deliverables in the context of signed
customer programs at the end of a reporting period.

Further explanations about how Mynaric uses these key performance indicators
can be found in Mynaric's annual report on Form 20-F for 2023, which is
available on Mynaric's website.

About Mynaric

Mynaric (NASDAQ: MYNA)(FRA: M0YN) 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.

Forward-Looking Statement

This release includes forward-looking statements. All statements other than
statements of historical or current facts contained in this release,
including statements regarding our future results of operations and
financial position, industry dynamics, business strategy and plans and our
objectives for future operations, are forward-looking statements. These
statements represent our opinions, expectations, assumptions, beliefs,
intentions, estimates or strategies regarding the future, which may not be
realized. Forward looking statements are often indicated by terms such as
"anticipate," "believe," "could," "estimate," "expect," "forecast," "goal,"
"intend," "look forward to," "may," "plan," "potential," "predict,"
"project," "should," "target" "will," "would" and/or the negative of these
terms or other similar expressions that are intended to identify
forward-looking statements.

The forward-looking statements included in this release are based largely on
our current expectations and projections about future events and financial
trends that we believe may affect our financial condition, results of
operations, business strategy, short-term and long-term business operations
and objectives, and financial needs. These forward-looking statements
involve known and unknown risks, uncertainties and assumptions that are
difficult to predict or are beyond our control, and actual results may
differ materially from those expected or implied as forward-looking
statements. These risks, uncertainties and assumptions include, but are not
limited to (i) the impact of any geopolitical tensions or the global
COVID-19 pandemic on the global economy, our industry and markets as well as
our business, (ii) risks related to our limited operating history, our
history of significant losses and the execution of our business strategy,
(iii) risks related to our ability to successfully manufacture and deploy
our products and risks related to serial production of our products, (iv)
risks related to our sales cycle which can be long and complicated, (v)
risks related to our limited experience with order processing, our
dependency on third-party suppliers and external procurement risks, (vi)
risks related to defects or performance problems in our products, (vii)
effects of competition and the development of the market for laser
communication technology in general, (viii) risks related to our ability to
manage future growth effectively and to obtain sufficient financing for the
operations and ongoing growth of our business, (ix) risks relating to the
uncertainty of the projected financial information, (x) risks related to our
ability to adequately protect our intellectual property and proprietary
rights and (xi) changes in regulatory requirements, governmental incentives
and market developments. Moreover, new risks emerge from time to time. It is
not possible for our management to predict all risks, nor can we assess the
impact of all factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ from those
contained in any forward-looking statements we may make. In light of these
risks, uncertainties and assumptions, the forward-looking events and
circumstances discussed in this release may not occur and actual results
could differ materially and adversely from those anticipated or implied in
the forward-looking statements. We caution you therefore against relying on
these forward-looking statements, and we qualify all of our forward-looking
statements by these cautionary statements.

The forward-looking statements included in this release are made only as of
the date hereof. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee that the
future results, levels of activity, performance or events and circumstances
reflected in the forward-looking statements will be achieved or occur.
Neither we nor any other person assumes responsibility for the accuracy and
completeness of the forward-looking statements. Unless required under
applicable law, neither we nor any other person undertakes any obligation to
update any forward-looking statement to reflect events or circumstances
after the date of this release or otherwise. You should read this release
with the understanding that our actual future results, levels of activity,
performance and events and circumstances may materially differ from what we
expect.

This release may include certain financial measures not presented in
accordance with IFRS. Such financial measures are not measures of financial
performance in accordance with IFRS and may exclude items that are
significant in understanding and assessing our financial results. Therefore,
these measures should not be considered in isolation or as an alternative to
loss for the period or other measures of profitability, liquidity or
performance under IFRS. You should be aware that our presentation of these
measures may not be comparable to similarly titled measures used by other
companies, which may be defined and calculated differently.


End of Inside Information

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   Language:       English
   Company:        Mynaric AG
                   Bertha-Kipfmüller-Str. 2-8
                   81249 München
                   Germany
   Phone:          +49 8105 7999 0
   E-mail:         comms@mynaric.com
   Internet:       www.mynaric.com
   ISIN:           DE000A31C305
   WKN:            A31C30
   Indices:        Scale 30
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate
                   Exchange; Nasdaq
   EQS News ID:    1929947

End of Announcement EQS News Service
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1929947 20-Jun-2024 CET/CEST