Mynaric, a leading provider of industrialized, cost-effective and scalable laser communications products, today reported on key performance indicators for the year ending December 31, 2023.
As of December 31, 2023, the optical communications terminal backlog and cash-in from customer contracts is as follows:
- Optical communications terminal backlog: 794 units (FY23 guidance as of November 10, 2023: >500 units)
- Cash-in from customer contracts: EUR 49.2 million (FY23 guidance as of November 10, 2023: EUR >30 million)
- IFRS-15 revenue and operating loss: Based on preliminary, unaudited numbers the company expects revenue and operating loss in-line with the previously communicated range (FY23 guidance as of November 10, 2023: around the same level from 2022 of EUR 4.4 million for revenue and EUR 73.8 million for operating loss)
The vast majority of the optical communications terminals in backlog as of December 31, 2023 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 first quarter of 2024 and continue into 2025 and 2026, which provides Mynaric with excellent revenue and cash flow visibility on these programs.
“We finished 2023 with very strong order momentum leading to a record backlog well above our guidance, which we believe is a testament to the trust our customers have placed in us and to the incredible efforts of all of our team members,” said Mustafa Veziroglu, CEO of Mynaric.
“With the strong order momentum, especially in the second half of 2023, and achievement of critical milestones, cash-in from custom