Mynaric AG engages in developing and manufacturing advanced laser communication technology for long-distance wireless data transmission between moving objects for terrestrial, airborne, and space applications in Germany and internationally. The company offers CONDOR, an optical inter-satellite link flight terminal for satellite-to-satellite communications in space; and HAWK, an airborne flight terminal for air-to-air and air-to-ground links of airborne vehicles. Its products provide connectivity solutions to link satellites, high-altitude platforms, unmanned aerial vehicles, aircraft, and the ground. The company was incorporated in 2009 and is headquartered in Gilching, Germany.
IPO Year: 2021
Exchange: NASDAQ
Website: mynaric.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/12/2022 | $10.00 | Outperform | Credit Suisse |
| 12/7/2021 | $23.00 | Buy | Jefferies |
| 11/24/2021 | $40.00 | Buy | Canaccord Genuity |
| 11/23/2021 | $40.00 | Buy | Canaccord Genuity |
MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mynaric (NASDAQ:MYNA), a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced that the supervisory board and the chief executive officer, Mustafa Veziroglu, jointly decided on the termination of the office of Mustafa Veziroglu as CEO and member of the management board of Mynaric with immediate effect. Mustafa Veziroglu joined Mynaric's management board in August 2022 and most recently served as CEO of the company leading all operational product-related activities overseeing the entire product lifecycle from development through delivery. In addition, Mynaric today announced the appointm
MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mustafa Veziroglu, the chairman of the Management Board of Mynaric AG (NASDAQ:MYNA, ISIN: US62857X1019)))(FRA:M0YN; ISIN: DE000A31C305) and the Supervisory Board of Mynaric AG today agreed to terminate in mutual consent the appointment of Mr. Veziroglu as chairman and member of the Management Board of Mynaric AG with immediate effect.Additionally, with immediate effect, the Supervisory Board has appointed Andreas Reif as member of the Management Board and Chief Restructuring Officer.With a view to the latest changes in the Management Board, the annual general meeting of Mynaric AG, scheduled for August 29, 2024, shall be postponed. The Company
GILCHING, GERMANY / ACCESSWIRE / January 31, 2023 / The Supervisory Board of Mynaric AG (NASDAQ:MYNA)(FRA:M0YN) today has resolved upon an expansion of the chair of the Management Board: As of February 1, 2023, Mustafa Veziroglu will join Bulent Altan, as second chairman of the Management Board and become the Co-CEO of the company.Mustafa Veziroglu has been a member of the Management Board of Mynaric AG since joining the company in August 2022 and has since held operational responsibility for the development, qualification and series production of the company's laser communication products. In the future, he will jointly lead Mynaric AG with Bulent Altan and share management responsibilities
MUNICH, GERMANY / ACCESSWIRE / January 31, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced the appointment of Mustafa Veziroglu as Co-CEO of the company, effective February 1, 2023.Mustafa Veziroglu joined Mynaric in August 2022 as President and since then has been responsible for all operational product-related activities within Mynaric overseeing the entire product lifecycle from development through delivery. With Mynaric's recent success in winning additional new customers and hitting important customer milestones, his role as Co-CEO will be to strengthen Mynaric's focus on 2023 execu
MUNICH, GERMANY / ACCESSWIRE / June 20, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces preliminary unaudited results for the fiscal year ending December 31, 2023."2023 marked a milestone year for Mynaric as we ended the year with record backlog of optical terminals, were awarded business with many marquee customers and prepared for serial production," said Mustafa Veziroglu, CEO of Mynaric. "In the first quarter of 2024, we completed our first CONDOR Mk3 shipment marking another significant milestone for the company."Key 2023 and 2024 HighlightsOptical Communications Terminal Backlog at
Continued traction on key performance indicators as company prepares for serial production and shipments to key customers in 2H23MUNICH, September 14, 2023 - Mynaric (NASDAQ:MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces results for the half year ending June 30, 2023."In the first half of 2023 we showed continued success as we capitalize on the significant opportunity ahead of us and the adoption of laser communications across multiple domains accelerates," said Mustafa Veziroglu, CEO of Mynaric. "We see the strongest pipeline of opportunities in our history and look forward to working with our customers as
Continued traction on key performance indicators as company prepares for serial production and shipments to key customers in 2H23MUNICH, GERMANY / ACCESSWIRE / April 27, 2023 / Mynaric (NASDAQ:MYNA) (FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces preliminary unaudited results for the fiscal year ending December 31, 2022."Mynaric finished 2022 with a solid terminal order backlog and is well positioned to capitalize on the significant opportunity ahead of us as the adoption of laser communications accelerates in both the space and airborne domains," said Bulent Altan and Mustafa Veziroglu, Co-CEOs of Mynaric. "2023 wi
MUNICH, GERMANY / ACCESSWIRE / April 25, 2023 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today reported selected preliminary unaudited full-year 2022 results. For the full year 2022, Mynaric expects revenue of approximately EUR 4.4 million and a net operating loss of approximately EUR 73.8 million. Earlier this year, Mynaric reported on its key performance indicators for 2022 with optical communications terminal backlog of 256 units (financial year 2022 guidance as of October 25, 2022: >250 units) and cash-in from customer contracts for 2022 of EUR 18.3 million (financial year 2022 guidance as of October
MUNICH, GERMANY / ACCESSWIRE / October 31, 2022 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) today reported financial results for the first half of 2022 for the period ending June 30, 2022. The first half 2022 report can be downloaded from the Investor Relations section of mynaric.com at https://mynaric.com/investor-relations/overview/.Conference call and webcastA conference call and webcast to discuss these first half 2022 results for the period ending June 30, 2022, is scheduled for Monday, October 31, 2022, at 1:00 p.m. Eastern Daylight Time (6:00 p.m. Central European Time).The conference call and webcast will include a presentation of these results along with a Q&A session with Mynaric executives
MUNICH, GERMANY / ACCESSWIRE / October 25, 2022 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) today announced a full-year 2022 guidance update for its key financial metrics. In addition, Mynaric has scheduled a conference call and webcast to discuss its preliminary first half 2022 financial results for the period ending June 30, 2022.Guidance Update for Key Financial MetricsOptical Communications Terminal Backlog: the company increases its full-year guidance and now expects more than 250 units in backlog by end of 2022 compared to the previously communicated guidance of more than 220 units. The guidance is increased due to strong traction and recent program wins particularly in the government market.Cas
MUNICH, GERMANY / ACCESSWIRE / October 25, 2022 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) today announced a full-year 2022 guidance update for its key financial metrics:Optical Communications Terminal Backlog: the company now expects more than 250 units in backlog by the end of 2022 compared to the previously communicated guidance of more than 220 units. The guidance is increased due to strong traction and program wins particularly in the government market.Cash-In from Customer Contracts: the company reiterates its full-year 2022 guidance of expected more than EUR 20 million cash-in from customer contracts.Optical communications terminal backlog represents the quantity of all open optical communicat
MUNICH, GERMANY / ACCESSWIRE / March 11, 2022 / Mynaric (NASDAQ:MYNA)(FRA:M0Y) today announced it plans to publish its FY21 business update, including selected key figures of the preliminary financial results FY21 and other key information by means of a shareholder letter on Monday, March 28, 2022, at 11:00 a.m. Eastern Daylight Time (5:00 p.m. Central European Summer Time). The release of the shareholder letter will be announced over the newswire and published in the investor relations section of mynaric.com .Mynaric will host a webcast the same day, March 28, at 12:00 p.m. Eastern Daylight Time (6:00 p.m. Central European Summer Time) to discuss the FY21 business update. The webcast will i
MUNICH, GERMANY / ACCESSWIRE / November 15, 2024 / Mynaric AG (NASDAQ:MYNA)(ISIN: US62857X1019)(FRA:M0YN)(ISIN: DE000A31C305) (the "Company") today entered into an amendment to its existing loan agreement with its U.S.-based lenders, which are funds affiliated with a U.S.-based global investment management firm, pursuant to which such lenders have agreed to provide a bridge loan in the amount of USD 11 million. Such bridge loan is in addition to the USD 95 million originally provided under such loan agreement and an initial bridge loan in the amount of USD 5.5 million that such lenders agreed to provide on October 2, 2024.As is the case for the original USD 95 million term loans and the init
MUNICH, GERMANY / ACCESSWIRE / October 2, 2024 / Today, Mynaric AG (NASDAQ:MYNA) (ISIN: US62857X1019) (FRA:M0YN) ISIN: DE000A31C305) (the "Company") entered into an amendment to its existing USD 95 million loan agreement with its U.S.-based lenders, which are funds affiliated with a U.S.-based global investment management firm, pursuant to which the lenders have agreed to provide a bridge loan in the amount of USD 5.5 million.As is the case for the existing USD 95 million term loan agreement, the bridge loan will be guaranteed and secured by the Company and each of its subsidiaries and bear interest at a rate equal to the Term Secured Overnight Financing Rate (SOFR) for a 3-month tenor, subj
Shipments will support the Space Development Agency's Tranche 1 program MUNICH, Sept. 16, 2024 /PRNewswire/ -- Mynaric (NASDAQ:MYNA) (FRA: M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced the successful advancement of the company's volume production ramp for the CONDOR Mk3. Mynaric continues to work through previously announced production delays and has realized near-term improvement in production yields and supply chain-related bottlenecks. Production delays of CONDOR Mk3 were caused by lower than expected production yields and supplier shortages of key components.
MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mynaric (NASDAQ:MYNA), a leading provider of industrialized, cost-effective, and scalable laser communications products, today announced that the supervisory board and the chief executive officer, Mustafa Veziroglu, jointly decided on the termination of the office of Mustafa Veziroglu as CEO and member of the management board of Mynaric with immediate effect. Mustafa Veziroglu joined Mynaric's management board in August 2022 and most recently served as CEO of the company leading all operational product-related activities overseeing the entire product lifecycle from development through delivery. In addition, Mynaric today announced the appointm
MUNICH, GERMANY / ACCESSWIRE / August 26, 2024 / Mustafa Veziroglu, the chairman of the Management Board of Mynaric AG (NASDAQ:MYNA, ISIN: US62857X1019)))(FRA:M0YN; ISIN: DE000A31C305) and the Supervisory Board of Mynaric AG today agreed to terminate in mutual consent the appointment of Mr. Veziroglu as chairman and member of the Management Board of Mynaric AG with immediate effect.Additionally, with immediate effect, the Supervisory Board has appointed Andreas Reif as member of the Management Board and Chief Restructuring Officer.With a view to the latest changes in the Management Board, the annual general meeting of Mynaric AG, scheduled for August 29, 2024, shall be postponed. The Company
MUNICH, GERMANY / ACCESSWIRE / August 20, 2024 / Today Mynaric (NASDAQ:MYNA)(FRA:M0YN) announces the voluntary departure of CFO Stefan Berndt von-Bülow for personal reasons, effective last week. Berndt von-Bülow has been with Mynaric since 2018 and assumed the role as CFO in 2020. As CFO, Berndt von-Bülow made significant contributions to the company's financial strategy and operations, investor relations, several capital raises, significant debt financing, and, particularly Mynaric's listing on Nasdaq in November 2021, during a time of significant growth and transformation."Stefan has been a key member of the management team, and we are grateful for his contributions," said Mustafa Vezirogl
MUNICH, GERMANY / ACCESSWIRE / August 20, 2024 / Mynaric AG (NASDAQ:MYNA, ISIN: US62857X1019)))(FRA:M0YN; ISIN: DE000A31C305) (the "Company") has today resolved an update to full-year 2024 guidance published on June 20, 2024, for its key financial performance metrics:IFRS-15 revenue: the company now expects full-year 2024 IFRS-15 revenue to range between EUR 16.0 million to EUR 24.0 million compared to previous guidance of a range between EUR 50.0 million to EUR 70.0 million. The guidance decrease is due to production delays of CONDOR Mk3 caused by lower than expected production yields and component supplier shortages of key components.Operating loss: the company now expects full-year 2024 o
MUNICH, GERMANY / ACCESSWIRE / June 25, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announced that it has been selected by ReOrbit to supply its CONDOR Mk3 terminal for its upcoming mission UKKO, aimed at demonstrating secure space-to-space and space-to-ground communication for Earth Observation."At ReOrbit, we firmly believe that the space industry is now entering the era of horizontal consolidation and vertical cooperation. As a leading player in the NewSpace economy, we work with an established supplier network for the hardware components, and this time, we are happy to source CONDOR Mk3 ter
MUNICH, GERMANY / ACCESSWIRE / June 21, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN) today announced that management will participate in the following upcoming investor conference during the second quarter of 2024:Jefferies Virtual Space SummitVirtual PresentationJune 25, 202411:00 a.m. EDT / 5:00 p.m. CETPresenter: Stefan Berndt-von Bülow, CFOFurther information regarding the public webcast of these events will be found on the Mynaric Investor Relations website at www.mynaric.com/investor-relations/calendar/.About MynaricMynaric (NASDAQ:MYNA)(FRA: M0YN) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications
MUNICH, GERMANY / ACCESSWIRE / June 20, 2024 / Mynaric (NASDAQ:MYNA)(FRA:M0YN), a leading provider of industrialized, cost-effective and scalable laser communications products, today announces preliminary unaudited results for the fiscal year ending December 31, 2023."2023 marked a milestone year for Mynaric as we ended the year with record backlog of optical terminals, were awarded business with many marquee customers and prepared for serial production," said Mustafa Veziroglu, CEO of Mynaric. "In the first quarter of 2024, we completed our first CONDOR Mk3 shipment marking another significant milestone for the company."Key 2023 and 2024 HighlightsOptical Communications Terminal Backlog at
6-K - Mynaric AG (0001850453) (Filer)
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Credit Suisse initiated coverage of Mynaric AG with a rating of Outperform and set a new price target of $10.00
Jefferies initiated coverage of Mynaric AG with a rating of Buy and set a new price target of $23.00
Canaccord Genuity initiated coverage of Mynaric with a rating of Buy and set a new price target of $40.00
Canaccord Genuity initiated coverage of Mynaric AG with a rating of Buy and set a new price target of $40.00
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Mynaric AG (NASDAQ:MYNA)(ISIN: US62857X1019)(FRA:M0YN)(ISIN: DE000A31C305) (the "Company") today, following customer approval, shipped the first flight model CONDOR Mk3 optical head and updates the Company's volume production and shipment expectations as most recently provided on January 10, 2024.
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DARPA's Space-BACN program envisions a low-cost, scalable optical communications terminal that could be reconfigured to work with various optical intersatellite link standards allowing seamless communication among government and commercial LEO satellite constellations.
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