The Space Investor - 🚀 Mynaric Cuts Revenue -70%

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• $SIDU
  • • Cash & Equivalents: $1.4M
    • Revenue: $930k, -32% YoY
    • Gross Profit Margin: (91)% vs. 37%
    • Net Loss: $(4.1)M vs. $(3.5)M
    • Adj. EBITDA: $(3.2)M vs. $(2.8)M
    • Shares: -18.4%
     
• $MYNA
  • Released revised FY 2024 forward looking financials and announced its CFO would step down
  • Revenue: €16-24M, down -70% from €50-70M, due to production delays of CONDOR Mk3
  • Cash & Equivalents: €6.3M, and the need to pursue additional capital sources to secure ongoing operations and production ramp
  • CFO voluntary departure for personal reasons
  • Shares: -52% on the news & -66% on the week

• Following a direct listing IPO on August 25th, 2021, Astrocast has called it quits due to limited VC funding, near non-existent public funding and a sour -99% debut on public markets.
   
• CEO Fabien Jordan provided an honest account of the situation on LinkedIn Wednesday, stating: "From a business maturity standpoint, it was too early to list the company as we were still in a pre-revenue phase, but it provided access to sorely needed capital. Once the initial excitement of the public listing wore off in 2022, being public made it more difficult to access fresh capital."
   
• He continued: "Delisting the company was not easy and it was an uncharted path, but we found a way and we are now again able to raise funds from VCs."

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