Mynaric Receives $36 Million Order from Northrop Grumman
Mynaric (NASDAQ:MYNA) has secured a $36 million contract with Northrop Grumman for the delivery of optical communication terminals as part of a U.S. government space initiative.
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Rhea-AI Summary
Mynaric (NASDAQ:MYNA) has secured a $36 million contract with Northrop Grumman for the delivery of optical communication terminals as part of a U.S. government space initiative. The agreement outlines payment milestones spread over 2022, 2023, and 2024, with the majority of product deliveries planned for 2023 and 2024. This partnership highlights Mynaric's role in advancing laser communications technology, aimed at enhancing data transmission capabilities in air, space, and mobile applications.
Positive
- Secured $36 million contract with Northrop Grumman.
- Deliveries planned for 2023 and 2024, indicating future revenue growth.
Negative
- None.
Details
News Market Reaction – MYNA
The recorded move for MYNA in the trading session of this news was +1.33%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LOS ANGELES, CA / ACCESSWIRE / March 21, 2022 / Mynaric (NASDAQ:MYNA)(FRA:M0Y) has today entered into a definitive agreement with Northrop Grumman for delivery of optical communication terminals in the framework of a U.S. government space program led by the Space Development Agency. The contract with an initial value of
About Mynaric
Mynaric (NASDAQ:MYNA)(FRA:M0Y) is leading the industrial revolution of laser communications by producing optical communications terminals for air, space and mobile applications. Laser communication networks provide connectivity from the sky, allowing for ultra-high data rates and secure, long-distance data transmission between moving objects for wireless terrestrial, mobility, airborne- and space-based applications. The company is headquartered in Munich, Germany, with additional locations in Los Angeles, California, and Washington, D.C.
For more information, visit mynaric.com.
SOURCE: Mynaric
View source version on accesswire.com:
https://www.accesswire.com/694036/Mynaric-Receives-36-Million-Order-from-Northrop-Grumman
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