Munich-based communications services provider Mynaric AG disclosed preliminary full-year 2023 financial results on Thursday. This announcement, based on Form 6-K filed with the U.S. Securities and Exchange Commission, provides insight into the company’s financial performance.
According to the document, Mynaric AG, which operates under the communications services industry classification, provided a webcast detailing its financial results 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 document. SEC statement.
Mynaric AG, filed as SEC Registration Number 001-41045, is a foreign private issuer that files annual reports on Form 20-F. The company, whose main executive office is located in Gilching, Germany, is registered under the laws of a jurisdiction designated as “2M”, although the specific country was not specified in the filing.
The webcast of financial results is part of Mynaric AG’s regular disclosure to investors and regulators. The company, known by its organizational name “06 Technology”, did not provide specific financial figures in the provided excerpt from the SEC filing.
The report was signed by Stefan Berndt-von Bülow, Chief Financial Officer, and Felix Hacke, Authorized Representative, certifying compliance with the requirements of the Securities Exchange Act of 1934.
Investors and stakeholders interested in Mynaric AG will find the preliminary results important in assessing the company’s financial condition and prospects. The data presented in the webcast will provide insight into the company’s revenue, profit margins and other important financial metrics for 2023.
Details of the full year financial results have not been disclosed in the context provided, however the information is based on a press statement and is intended to inform the company’s shareholders and potential investors of its financial position at year-end 2023.
In other recent news, Mynaric has struck a $15 million deal with Rocket Lab under the Space Development Agency’s (SDA) second tranche Transport Layer program. This contract will allow Mynaric to supply CONDOR Mk3 terminals, with deliveries commencing in 2025 and continuing until 2026. Rocket Lab will integrate Mynaric technology into its Pioneer satellite buses, highlighting the company’s growing influence in the aerospace sector.
In addition to this, Mynaric has started mass production of its CONDOR Mk3 optical communications terminal and made its first delivery. The Munich company’s system is designed for space and space-to-ground missions, marking a significant step in the commercialization of the product. The initial delivery will support the US Space Development Agency’s (SDA) first tranche transport and tracking layer programs.
In addition, Mynaric has expanded its credit facility by US$20 million with US lenders. This additional liquidity, effective immediately, will be available until September 2025 and will support the company’s working capital needs and general corporate objectives. 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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