Mynaric Receives $36 Million Order from Northrop Grumman

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.

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 $36 million foresees payment milestones throughout 2022, 2023 and 2024 and product deliveries mostly in 2023 and 2024.

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

FAQ

What is the value of Mynaric's contract with Northrop Grumman?

Mynaric has secured a contract valued at $36 million with Northrop Grumman.

When are the product deliveries expected from Mynaric's new contract?

Product deliveries are mostly planned for 2023 and 2024.

What technology will Mynaric provide under the Northrop Grumman contract?

Mynaric will deliver optical communication terminals as part of the contract.