Mynaric AG (DE:M0YN) has released an update.
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Mynaric AG has revised its financial outlook for 2024, projecting lower revenues between EUR 16-24 million, down from EUR 50-70 million, and a higher operating loss of EUR 50-55 million, compared to the previously expected EUR 30-40 million. The adjustments are attributed to slower production ramp-up and increased production costs for their CONDOR Mk3 optical communications terminals. Despite maintaining their backlog guidance, the company acknowledges the need to explore additional capital sources to support operations.
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