Mynaric AG (NASDAQ:MYNA) gave an update to its FY 2024 guidance, expects revenue to range between €16M to €24M compared to previous guidance of a range between €50M to €70M.
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.
FY operating loss to range between a loss of €55M to €50M compared to previous guidance of a range between a loss of €40M to €30M.
Cash-In from customer contracts expected to range between €45M to €50M compared to the previously communicated guidance of a range between €65M to €100M.
The company also announced the voluntary departure of CFO Stefan Berndt von-Bülow for personal reasons, effective last week.
The stock price is marginally lower, down 0.60% to $4.15 per share on Tuesday during pre-market trade.
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