0001193125-23-219041 | 20-F/A | XBRL Viewer

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Equity

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Equity

25. Equity

25.1.

Subscribed Capital

Issued share capital

As of January 1, 2022, the Company’s share capital amounted to €5,242,948, divided into €5,242,948 bearer shares with a nominal value of €1.00 per share.

During the year ended December 31, 2022, share capital was increased to €5,668,391 through the issuance of a total of 425,443 bearer shares with a nominal value of €1.00 per share. This was due to the following transactions:

L3Harris

In July 2022, Harris Communications GmbH, München, an indirect wholly owned subsidiary of L3Harris Technologies, Inc., Delaware, USA, invested approximately €11.2 million by means of a capital increase from authorized capital in exchange for 409,294 new ordinary shares, which corresponded to 7.2% of the share capital of Mynaric AG.

Due to this transaction the share capital increased by €409,294 and the capital reserve by €10,792,060.

Restricted Stock Unit Plan related capital increase

In August 2022, the Management Board and the Supervisory Board have adopted a capital increase resolution, in which they resolved to increase the share capital of Mynaric AG of €5,652,242 by €16,149 to €5,668,391 through the issuance of 16,149 new bearer no par value shares under exclusion of the subscription rights of the shareholders out of the Authorized Capital 2021/II. The 16,149 new shares relate to the settlement of 16,149 vested restricted stock units (“RSU’s”) under the RSUP 2021 program of the Group.

For descriptions of the Authorized Capital 2021/II refer to Note 25.1.c) and the RSUP 2021 program refer to Note 9.2.

Conditional capital

As of December 31, 2022, there is conditional capital in the amount of €2,619,974 (2021: €2,046,474, 2020: €1,485,652).

On June 12, 2020, the Annual General Meeting resolved to create 2020/I Conditional Capital and an additional 2020/II Conditional Capital, and to reduce the 2017/I Conditional Capital.

2017/I Conditional Capital

After reduction, the 2017/I Conditional Capital dated September 8, 2017, amounts to €1,500.00 and is now used to grant stock option rights to employees of the Company or its affiliates.

2019 Conditional Capital

Based on an authorization of the Annual General Meeting on July 2, 2019, 2019 Conditional Capital was created in the amount of €270,000.00. The Management Board was authorized, subject to the consent of the Supervisory Board, to grant stock option rights for shares to members of the Management Board and to employees of the Company or its affiliates on one or more occasions until December 31, 2022.

2020/I Conditional Capital

Based on an authorization of the Annual General Meeting on June 12, 2020, 2020/I Conditional Capital was created in the amount of €34,473.00. The Management Board is authorized, subject to the consent of the Supervisory Board, to grant stock option rights for shares to members of the Management Board and to employees of the Company or its affiliates on one or more occasions until December 31, 2025.

2020/II Conditional Capital

Based on an authorization of the Annual General Meeting on June 12, 2020, 2020/II Conditional Capital was created, which led to a contingent increase in the Company’s share capital by up to €1,277,893.00 through the issue of up to 1,277,893 new

no-par

value bearer shares.

The Management Board is authorized, subject to the consent of the Supervisory Board, to issue on one or more occasions until July 2, 2025 convertible bonds and/or bonds with warrants issued to the bearer in a total amount of up to €150 million with a term of not more than 20 years, and to grant to the bondholders conversion and/or option rights to new shares of the Company with a pro rata amount in the share capital of up to a total of €1,277,893.00 pursuant to the terms and conditions of the convertible bonds and/or bonds with warrants.

Due to the conversion of convertible bonds in fiscal year 2021, Conditional Capital 2020/II amounts to €1,179,679.00 as of December 31, 2021.

On May 14, 2021, the Annual General Meeting resolved to create 2021/I Conditional Capital and an additional 2021/II Conditional Capital.

2021/I Conditional Capital

Based on an authorization of the Annual General Meeting on May 14, 2021, 2021/I Conditional Capital was created, which led to a contingent increase in the Company’s share capital by up to €457,501.00 through the issue of up to 457,501 new

no-par

value bearer shares.

The Management Board is authorized, subject to the consent of the Supervisory Board, to issue on one or more occasions until May 13, 2026 convertible bonds and/or bonds with warrants issued to the bearer with a term of not more than 20 years, and to grant to the bondholders conversion and/or option rights to new shares of the Company with a pro rata amount in the share capital of up to a total of €457,501.00 pursuant to the terms and conditions of the convertible bonds and/or bonds with warrants.

2021/II Conditional Capital

Based on an authorization of the Annual General Meeting on May 14, 2021, 2021/II Conditional Capital was created which led to a contingent increase in the Company’s share capital by up to €103,321.00 through the issue of up to 103,321 new

no-par

value bearer shares.

The Supervisory Board is authorized, to grant stock option rights for shares to members of the Management Board of the Company on one or more occasions until May 13, 2026.

On July 14, 2022, the Annual General Meeting resolved to create 2022/I Conditional Capital and an additional 2022/II Conditional Capital and to rescind the 2017 Conditional Capital and the 2021/I Conditional Capital.

2022/I Conditional Capital

Based on an authorization of the Annual General Meeting on July 14, 2022, 2022/I Conditional Capital was created, which led to a conditional increase in the Company’s share capital by up to €917,501 through the issue of up to 917,501 new shares.

The Management Board is authorized, subject to the consent of the Supervisory Board, to issue on one or more occasions until July 13, 2027 convertible bonds and/or bonds with warrants issued to the bearer with a term of not more than 20 years, and to grant to the bondholders conversion and/or option rights to new shares of the Company with a pro rata amount in the share capital of up to a total of €917,501 pursuant to the terms and conditions of the convertible bonds and/or bonds with warrants.

2022/II Conditional Capital

Based on an authorization of the Annual General Meeting on July 14, 2022, 2022/II Conditional Capital was created which led to a contingent increase in the Company’s share capital by up to €115,000 through the issue of up to 115,000 new

no-par-value

bearer or registered shares.

The Supervisory Board is authorized, to grant stock option rights for shares to members of the Management Board of the Company on one or more occasions until July 14, 2027.

Authorized Capital

As of December 31, 2022, there is authorized capital in the amount of €2,605,325 (2021: €880,325, 2020: €2,659,089).

On May 14, 2021, the Annual General Meeting resolved to create 2021/I Authorized Capital and an additional 2021/II Authorized Capital and to rescind the Authorized Capital 2020.

2021/I Authorized Capital

The Management Board is authorized, subject to the consent of the Supervisory Board, to increase the Company’s share capital on one or more occasions until May 13, 2026, by up to a total amount of €1,841,827.00 through the issue of up to 1,841,827 new

no-par-value

bearer shares against cash contributions and/or contributions in kind.

As a result of the capital increases carried out in fiscal year 2021, Authorized Capital 2021/I amounts to €691,827.00 as of December 31, 2021.

2021/II Authorized Capital

no-par-value

bearer shares against cash contributions and/or contributions in kind.

Shareholders’ subscription rights are excluded. Authorized Capital 2021/II serves to deliver shares of the Company to service restricted stock units (RSUs) granted under the Company’s Restricted Stock Unit Program (RSUP) to selected employees of the Company and its affiliates in accordance with the RSUP in return for the contribution of the respective payment entitlements arising under the RSUs.

As a result of the capital increase carried out in fiscal year 2022, Authorized Capital 2021/II amounts to €188,498.00 as of December 31, 2022.

On July 14, 2022, the Annual General Meeting resolved to create 2022/I Authorized Capital and an additional 2022/II Authorized Capital and to rescind the Authorized Capital 2021/I.

2022/I Authorized Capital

The Management Board is authorized, subject to the consent of the Supervisory Board, to increase the Company’s share capital on one or more occasions until July 13, 2027, by up to a total amount of €2,154,680 through the issue of up to 2,154,680 new

no-par-value

bearer or registered shares against cash contributions and/or contributions in kind.

2022/II Authorized Capital

no-par-value

bearer or registered shares against cash contributions and/or contributions in kind.

Authorized Capital 2022/II serves to deliver shares of the Company to service restricted stock units (RSUs) granted under the Company’s Restricted Stock Unit Program (RSUP) to selected employees of the Company and its affiliates in accordance with the RSUP in return for the contribution of the respective payment entitlements arising under the RSUs. Shareholder subscription rights are excluded.

25.2.

Capital Reserve

The capital reserve comprises the premiums received in connection with the issuance of new shares, equity-settled share-based payments, and the incremental costs directly attributable to the specific capital increases.

25.3.

Exchange Rate Differences

The reserve for exchange rate differences comprises all currency translation differences arising due to the translation of the financial statements of foreign operations.

Inventories - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Cost Of Inventories Recognised	€ 13,378	€ 7,964	€ 2,352

Revenue - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue [abstract]
Revenue from contract liabilities	€ 211	€ 933	€ 0
Non Refundable payments received in the previous periods now recognized as revenue	€ 2,589	€ 2,589

Cost of materials

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Cost of materials

8.	Cost of materials

The following table shows the breakdown of the cost of materials:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Raw materials and consumables used		13,007		7,736		4,715
Costs for services purchased		2,427		2,888		1,506
Total		15,434		10,624		6,221

Included in the cost of materials are write downs for the year ended December 31, 2022, in the amount of €5,601 thousand (2021: €2,039 thousand, 2020: €0).

The write-downs for the year ended December 31, 2022, refer to materials relevant for production of CONDOR Mk1, CONDOR Mk2 and CONDOR MEO. The write-downs for the year ended December 31, 2021, refer to materials relevant for production of CONDOR Mk1 and CONDOR Mk2. The corresponding raw materials were written down to their recoverable amount.

Income Taxes - Summary of Balances of Deferred Tax Assets and Liabilities (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	€ 0	€ 0
Deferred tax liabilities	1,767	1,791
Changes recognized in profit or loss	24	(1,791)
Intangible assets
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	12	1
Deferred tax liabilities	4,901	5,419
Changes recognized in profit or loss	529	(486)
Leases
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	29	2
Deferred tax liabilities	0	0
Changes recognized in profit or loss	27	8
Property, plant, and equipment
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	292	101
Deferred tax liabilities	0	0
Changes recognized in profit or loss	191	59
Other non-financial assets
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	48	0
Changes recognized in profit or loss	(48)	0
Inventories
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	0	79
Deferred tax liabilities	121	0
Changes recognized in profit or loss	(200)	71
Provisions
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	56	110
Deferred tax liabilities	1	23
Changes recognized in profit or loss	(32)	82
Other financial and non-financial liabilities
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	0	0
Deferred tax liabilities	273	22
Changes recognized in profit or loss	(251)	(28)
Tax loss carryforwards and tax credits
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	3,187	3,380
Deferred tax liabilities	0	0
Changes recognized in profit or loss	(193)	(1,497)
Offsetting
Disclosure For Balances Of Deferred Tax Assets And Liabilities [Line Items]
Deferred tax assets	(3,577)	(3,673)
Deferred tax liabilities	(3,577)	(3,673)
Changes recognized in profit or loss	€ 0	€ 0

Basis of Accounting - Additional Information (Detail) - EUR (€) € in Thousands		12 Months Ended
	Apr. 25, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Basis of Accounting [Line Items]
Net loss		€ (73,800)
Net current assets		(12,800)
Cash and cash equivalents		10,238	€ 48,143	€ 43,198	€ 8,914
Non adjusting events after reporting period
Disclosure of Basis of Accounting [Line Items]
Cash and cash equivalents		€ 51,800
Proceeds from issuance of equity shares	€ 75,000
Proceeds from additional debt	€ 12,400

Personnel costs - Summary of Measurement of Restricted Stock Unit Plan Based On Binomial Model (Detail) - 2021 Stock Option Plan - Restricted Stock Units	12 Months Ended
	Dec. 31, 2022 $ / shares	Dec. 31, 2021 € / shares
Tranche 2021 I
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price \| (per share)	$ 0	€ 0
Term in years	4 years 9 months 7 days	4 years 9 months 7 days
Remaining term in years	3 years 3 months 7 days	4 years 3 months 7 days
Share price as of the valuation date \| (per share)	$ 80.6	€ 80.6
Expected dividend yield	0.00%	0.00%
Expected volatility	39.83%	39.83%
Risk-free interest rate	(0.60%)	(0.60%)
RSU-value \| (per share)	$ 80.6	€ 80.6
Tranche 2021 II
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price \| (per share)	$ 0	€ 0
Term in years	4 years 6 months 7 days	4 years 6 months 7 days
Remaining term in years	3 years 3 months 7 days	4 years 3 months 7 days
Share price as of the valuation date \| (per share)	$ 62.9	€ 62.9
Expected dividend yield	0.00%	0.00%
Expected volatility	39.75%	39.75%
Risk-free interest rate	(0.62%)	(0.62%)
RSU-value \| (per share)	$ 62.9	€ 62.9
Tranche 2022 I
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price	$ 0
Term in years	5 years 3 months 3 days
Remaining term in years	4 years 3 months 7 days
Share price as of the valuation date	$ 46.35
Expected dividend yield	0.00%
Expected volatility	38.89%
Risk-free interest rate	(0.45%)
RSU-value	$ 46.35
Tranche 2022 II
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price	$ 0
Term in years	5 years 7 days
Remaining term in years	4 years 3 months 7 days
Share price as of the valuation date	$ 40.65
Expected dividend yield	0.00%
Expected volatility	39.14%
Risk-free interest rate	0.37%
RSU-value	$ 40.65
Tranche 2022 III
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price	$ 0
Term in years	4 years 9 months 7 days
Remaining term in years	4 years 3 months 7 days
Share price as of the valuation date	$ 26.75
Expected dividend yield	0.00%
Expected volatility	39.54%
Risk-free interest rate	0.87%
RSU-value	$ 26.75
Tranche 2022 IV
Disclosure Of Measurement Of Other Equity Instruments Granted During Period [Line Items]
Exercise price	$ 0
Term in years	4 years 6 months 7 days
Remaining term in years	4 years 3 months 7 days
Share price as of the valuation date	$ 19.76
Expected dividend yield	0.00%
Expected volatility	45.59%
Risk-free interest rate	1.92%
RSU-value	$ 19.76

Statement of Cash Flows (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of The Reconciliation of Liabilities To The Cash Flows From Financing Activities

The reconciliation of liabilities to the cash flows from financing activities required to be disclosed in accordance with IAS 7.44 is as follows:


			Cash Changes				Non-cash changes
€ thousand	Balance as of Jan. 1, 2022		Inflows		Outflows		Additions		Unpaid interest		FX		Balance as of Dec. 31, 2022
Short-term loans		0		13,110		0		0		1,330		0		14,440
Lease liabilities		9,027		0		-1,713		1,439		6		183		8,942
Other sundry financial liabilities		37		420		-137		15		4		0		339
Total		9,064		13,530		-1,850		1,454		1,340		183		23,721


			Cash Changes				Non-cash changes
€ thousand	Balance as of Jan. 1, 2021		Inflows		Outflows		Additions		Unpaid interest		FX		Balance as of Dec. 31, 2021
Short-term loans		0		7,500		-7,500		0		0		0		0
Lease liabilities		7,956		0		-1,056		1,951		0		176		9,027
Other sundry financial liabilities		0		0		0		37		0		0		37
Summe		7,956		7,500		-8,556		1,988		0		176		9,064


			Cash Changes		Non-cash changes
€ thousand	Balance as of Jan. 1, 2020		Inflows		Additions		Disposals		Unpaid interest		FX		Reclassifications		Balance as of Dec. 31, 2020
Convertibale bonds		0		5,000		5,000		0		500		0		-5,500		0
Short-term loans		0		0		2,500		-2,500		0		0		0		0
Lease liabilities		6,762		-675		1,947		0		0		-78		0		7,956
Summe		6,762		4,325		9,447		-2,500		500		-78		-5,500		7,956

General Information

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

General Information

1.	General Information

Mynaric AG registered in Commercial Register at Munich Local Court (Reg. No. HRB 232763), has its registered office at Dornierstraße 19 in 82205 Gilching, Germany, and together with its consolidated subsidiaries is referred to herein as the “Company” or “Group”. The objective of the Company is the development, manufacture and sale of laser communication network equipment, software, systems, and solutions, particularly for aerospace applications and related products. The Company engages primarily in the manufacturing and sale of products and projects, and in the provision of services related to laser technology, particularly for applications in aerospace, and satellite services.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Disclosing Information Relating to Tax Expenses


	For the years ended
€ thousand	December 31, 2022		December 31, 2021
Loss before taxes		-73,806		-43,686
Expected taxes applying the domestic tax rate of 27.725% (previous year: 27.725%)		-20,463		-12,112
Foreign tax rate differential		-19		-85
Tax effect of expenses that are not deductible for tax purposes / tax adjustments		267		192
Tax effect from losses incurred in the current year and deductible temporary differences for which no deferred taxes were recognized		18,160		15,650
Recognition of previously unrecognized deferred tax assets from deductible temporary differences and on loss carryforwards and reversal of deductible temporary differences / utilization of loss carryforwards for which no deferred taxes were previously recognized		-448		0
Write-up/-down of deferred tax assets		451		-2,123
Effect of equity-settled share-based payments		1,629		233
Other		399		37
Tax expense for the fiscal year		-24		1,791

Summary of Balances of Deferred Tax Assets and Liabilities

Balance of deferred tax assets and liabilities:


	Dec. 31, 2022				Dec. 31, 2021				Jan. 1 – Dec. 31, 2022		Jan. 1 – Dec. 31, 2021
€ thousand	Deferred tax assets		Deferred tax liabilities		Deferred tax assets		Deferred tax liabilities		Changes recognized in profit or loss
Intangible assets		12		4,901		1		5,419		529		-486
Leases		29		0		2		0		27		8
Property, plant, and equipment		292		0		101		0		191		59
Other non-financial assets		0		48		0		0		-48		0
Inventories		0		121		79		0		-200		71
Provisions		56		1		110		23		-32		82
Other financial and non-financial liabilities		0		273		0		22		-251		-28
Tax loss carryforwards and tax credits		3,187		0		3,380		0		-193		-1,497
Offsetting		-3,577		-3,577		-3,673		-3,673		0		0
Total		0		1,767		0		1,791		24		-1,791

Other Financial Liabilities - Additional Information (Detail) - EUR (€) € in Thousands		12 Months Ended
	May 03, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 02, 2022
Disclosure Of Other Financial Liabilities [Line Items]
Repayments of borrowings, classified as financing activities		€ 96	€ 7,500	€ 2,500
Embedded Derivative
Disclosure Of Other Financial Liabilities [Line Items]
Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently		454
Financial liabilities at fair value through profit or loss		172
Gains (losses) on financial liabilities at fair value through profit or loss		€ 282
LineOfCredit [member] \| Line Of credit Agreement [member]
Disclosure Of Other Financial Liabilities [Line Items]
Notional amount					€ 25,000
Repayments of borrowings, classified as financing activities	€ 13,110
Borrowings Accrued Interest	€ 1,330

Earnings per Share - Summary of Detailed Information About Earnings Per Share (Detail) - EUR (€) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings per share [abstract]
Consolidated net profit/loss	€ (73,782)	€ (45,477)	€ (19,770)
Weighted average number of ordinary shares used in calculating basic earnings per share	5,435,839	4,250,135	3,349,403
Weighted average number of ordinary shares used in calculating diluted earnings per share	5,435,839	4,250,135	3,349,403
Basic earnings (loss) per share	€ (13.57)	€ (10.7)	€ (5.9)
Diluted earnings (loss) per share	€ (13.57)	€ (10.7)	€ (5.9)

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

Events After The Reporting Date

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Events after the reporting date

36.	Events after the reporting date

Changes in the Management Board

Mustafa Veziroglu has been appointed as

Co-CEO

with Bulent Altan for the Mynaric AG as of February 1, 2023.

Credit agreement 2023

On April 25, 2023, our subsidiary, Mynaric USA Inc. (“Mynaric USA”), entered into a new

five-year

term loan credit agreement with two funds

affiliated with a U.S.-based global investment management firm (the “Lenders”), and Alter Domus (US) LLC, as administrative agent. Pursuant to the credit agreement 2023, the lenders agreed to provide Mynaric USA with a secured term loan facility in an aggregate principal amount of

million. Mynaric USA drew the full amount of the facility (subject to a

original issue discount) on the day of the execution of the credit agreement 2023. The loans under the credit agreement 2023 bear interest at a rate equal to Term SOFR for a 3-month tenor (subject to a

2% floor), plus a margin of 10%,

and for the first two years, interest in an amount equal to

can be paid in kind by increasing the principal amount of the loans. In addition, the credit agreement 2023 requires Mynaric USA to pay an exit fee to the Lenders at the time the loans are repaid, prepaid or accelerated. The exit fee is calculated as

200% of “invested capital” less the cumulative amount of principal repayments and cash interest payments on the loans received prior to the exit date, with

“invested capital” defined to mean $74,250,000 plus the aggregate amount by which the principal amount of the loans is increased as a result of the payment of interest in kind. The exit fee percentage would be reduced to 185% if the exit fee is triggered prior to the fourth anniversary of the drawdown date and 180% if triggered prior to the third anniversary of the drawdown date. In addition, certain partial mandatory prepayments require the payment of a portion of the exit fee prior to the full repayment of the facility.

The loans under the credit agreement 2023 are guaranteed by the Company and each of its subsidiaries and are secured by a security interest in substantially all of the assets of the borrower and each of the guarantors.

A portion of the proceeds of the loans were used to repay in full the Company’s existing indebtedness under the credit agreement entered into in 2022 and for fees and expenses associated with entering into the credit agreement 2023, the remaining amount will be used for general corporate purposes.

The credit agreement 2023 contains customary events of default, as well as customary affirmative and negative covenants, including covenants that limit the ability of the borrower and the guarantors to incur indebtedness or liens, make investments, sell assets, pay dividends or engage in mergers or other corporate transactions. Each such covenant is subject to customary exceptions and qualifications. In addition, the credit agreement 2023 contains financial maintenance covenants, including a covenant requiring the Company not to exceed a specified consolidated leverage ratio (as calculated in accordance with the credit agreement) as of the end of any quarter commencing with the quarter ending March 31, 2025 and a covenant requiring the Company to maintain minimum average weekly liquidity of $10 million during each quarter, commencing with the quarter ending June 30, 2023.

Equity Investment

In connection with the credit agreement 2023, on April 25, 2023, the Company and two affiliates of the Lenders (the “Subscribers”) entered into a subscription agreement, pursuant to which the Subscribers subscribed for

401,309

and 163,915

new ordinary registered shares, respectively. The placement price for the new shares was

€22.019

per ordinary share, resulting in an aggregate proceeds raised of

€12.4 million.

On the same day, the management board of the Company resolved, with the approval of the supervisory board, to increase the Company’s share capital from

€5,668,391.00 to €6,233,615.00 by issuing 565,224

new ordinary registered shares by partially utilizing the Authorized Capital 2022/I and with the exclusion of the shareholders’ subscription rights. We applied to the commercial register for the registration of the capital increase on April 27, 2023. Upon effectiveness of the capital increase, the Subscribers will own approximately

6.4% and 2.6%, respectively, of Mynaric’s total share capital.

RSU Program 2022

In November 2022, a new RSU program agreement was set up for 262,147 subscription rights. The subscription right will be granted to selected employees of the Group of restricted stock units (RSUs). Under the RSU Program 2022, each beneficiary will be granted a specific Euro amount, which will be converted into a certain number of RSUs, which is dependent on the

six-month

average closing price of the shares or share certificates.

RSUs will vest in instalments over a four-year vesting period as follows:

•

25% of the RSUs vest 12 months after the grant date;

•

The remaining unvested RSUs will vest in equal amounts each quarter thereafter.

At the discretion of the Company, vested RSUs are settled either (i) by way of new shares utilizing the Authorized Capital 2022/II (as described below under “Description of Share Capital and Articles of Association—Conditional Capital”) or (ii) by way of a cash settlement.

The granting of RSUs from the RSU Program 2022 was classified and measured as equity-settled share-based payment in accordance with IFRS 2.

The program was approved by the management board in February 2023 and by the supervisory board in March 2023.

Gilching,

April

, 2023

The Management Board


Bulent Altan Co-CEO		Mustafa Veziroglu Co-CEO		Joachim Horwath Founder & CTO		Stefan Berndt-von Bülow CFO

Other Non-Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Current financial and non-financial liabilities

Current financial and

non-financial

liabilities comprise the following:


€ thousand	December 31, 2022		December 31, 2021
Liabilities due to customers		15,166		1,888
Loan related fee’s		782		0
Liabilities for payroll, social security and payroll tax		482		435
Other		228		0
Total		16,658		2,323

Income Taxes - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred Tax Assets Excluding Deductible Temporary Differences	€ 1,699	€ 1,519
Foreign tax loss carryforwards	16,904	6,195
Corporation Tax Loss Carryforwards [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Domestic Loss Carry forwards	168,538	109,662
Corporation Tax Loss Carryforwards [Member] \| GERMANY
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
No deferred taxes recognized amount	157,043	97,469
Trade Tax Loss Carryforwards [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Domestic Loss Carry forwards	166,481	108,514
Trade Tax Loss Carryforwards [Member] \| GERMANY
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
No deferred taxes recognized amount	154,986	96,320
Trade Tax Loss Carryforwards [Member] \|
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
No deferred taxes recognized amount	17,552	6,843
Two Thousand Thirty Seven [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Domestic Loss Carry forwards	€ 648	€ 648

Trade and Other Payables - Summary of Detailed Information of Trade and Other Payables Explanatory (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Trade And Other Payables [Abstract]
Trade payables	€ 4,222	€ 4,377
Other accruals	5,016	4,019
Total	€ 9,238	€ 8,396

Statement of Cash Flows - Summary of The Reconciliation of Liabilities To The Cash Flows From Financing Activities (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	€ 9,064	€ 7,956	€ 6,762
Inflows	13,530	7,500	4,325
Outflows	(1,850)	(8,556)
Additions	1,454	1,988	9,447
Disposals			(2,500)
Unpaid interest	1,340	0	500
FX	183	176	(78)
Reclassifications			(5,500)
Ending balance	23,721	9,064	7,956
Convertible bonds
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance		0	0
Inflows			5,000
Additions			5,000
Disposals			0
Unpaid interest			500
FX			0
Reclassifications			(5,500)
Ending balance			0
Short-term loans
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	0	0	0
Inflows	13,110	7,500	0
Outflows	0	(7,500)
Additions	0	0	2,500
Disposals			(2,500)
Unpaid interest	1,330	0	0
FX	0	0	0
Reclassifications			0
Ending balance	14,440	0	0
Lease liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	9,027	7,956	6,762
Inflows	0	0	(675)
Outflows	(1,713)	(1,056)
Additions	1,439	1,951	1,947
Disposals			0
Unpaid interest	6	0	0
FX	183	176	(78)
Reclassifications			0
Ending balance	8,942	9,027	7,956
Other sundry financial liabilities
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning Balance	37	0
Inflows	420	0
Outflows	(137)	0
Additions	15	37
Unpaid interest	4	0
FX	0	0
Ending balance	€ 339	€ 37	€ 0

Segment reporting and information on geographical areas - Additional information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Inventory write-down	€ 1,882	€ 462	€ 120
Space Segments
Disclosure of operating segments [line items]
Inventory write-down	5,982	2,501	0
Space Segments \| Air And Space Technologies [Member]
Disclosure of operating segments [line items]
Impairment of finite lived intangible assets	1,531	0	0
Air Segments
Disclosure of operating segments [line items]
Inventory write-down	€ 1,500	€ 0	€ 120

Right-of-use Assets (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary Of Right Of Use Assets

Cost


€ thousand	Real estate leases		Other leases		Total
Balance as of Jan. 1, 2020		7,289		11		7,300
Exchange rate differences		-77		0		-77
Additions		2,004		8		2,012
Balance as of Dec. 31, 2020		9,216		19		9,235
Exchange rate differences		168		0		168
Additions		1,995		0		1,995
Disposals		-11		0		-11
Balance as of Dec. 31, 2021		11,368		19		11,387
Exchange rate differences		196		0		196
Additions		688		750		1,438
Disposals		-5		-11		-16
Balance as of Dec. 31, 2022		12,247		758		13,005

Depreciation


€ thousand	Real estate leases		Other leases		Total
Balance as of Jan. 1, 2020		488		2		490
Exchange rate differences		-2		0		-2
Depreciation for the year		801		4		805
Balance as of Dec. 31, 2020		1,287		6		1,293
Exchange rate differences		17		0		17
Depreciation for the year		1,252		5		1,257
Disposals		-7		0		-7
Balance as of Dec. 31, 2021		2,549		11		2,560
Exchange rate differences		13		0		13
Depreciation for the year		1,647		13		1,660
Disposals		0		-11		-11
Balance as of Dec. 31, 2022		4,209		13		4,222

Carrying amount


€ thousand	Real estate leases		Other leases		Total
Carrying amount as of Dec. 31, 2020		7,929		13		7,942
Carrying amount as of Dec. 31, 2021		8,819		8		8,827
Carrying amount as of Dec. 31, 2022		8,038		744		8,782

Summary Of Lease Expenses

The following amounts were recognized in profit or loss:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Interest expenses for lease liabilities		229		185		137
Expenses for short-term leases		26		13		0
Expenses for leases of low-value assets		6		6		5

Summary Of Undiscounted Potential Future Lease Payments From The Exercise Of Extension Options

The following table shows the undiscounted potential future lease payments from the exercise of extension options:

€ thousand

Within five years

Over five years

Total

Extension options that are not expected to be exercised

1,246

7,862

9,108

Summary Of Undiscounted Future Payments For A Not Yet Commenced Leasing Contract

The following table shows the undiscounted future payments for a not yet commenced leasing contract. The probable commencement date is the August 1, 2023.

€ thousand

Within five years

Over five years

Total

Future payments for a not yet commenced leasing contract

11,183

14,136

25,319

Depreciation, Amortization and Impairment - Summary of Depreciation, Amortization and Impairment (Parentheticals) (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalised development expenditure [member] \| Condor Meo [member]
Disclosure In Tabular Form Of Depreciation Amortization And Impairment Of Tangible And Intangible Assets [Line Items]
Impairment of intangible assets	€ 1,531	€ 0	€ 0

Provisions

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Provisions

26. Provisions

Current and

non-current

provisions changed as follows:


€ thousand	Jan. 1, 2022		Utilization		Reversals		Additions		FX		Dec. 31, 2022
Litigation		783		0		75		0		0		708
Asset retirement obligations		206		0		0		0		-2		204
Onerous contracts		240		0		240		0		0		0
Warranties		5		0		0		23		0		28
Total		1,234		0		315		23		-2		940
thereof non-current
Asset retirement obligations		206		0		0		0		-2		204
Warranties		5		0		0		8		0		13
Total		211		0		0		8		-2		217

Related Party Disclosures - Summary Of Detailed Information About Board Member's Share Holdings Explanatory (Detail) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Peter Müller-Brühl [member]
Disclosure of transactions between related parties [line items]
Number Of Shares Issued	4,445	4,445	0
Joachim Horwath [member]
Disclosure of transactions between related parties [line items]
Number Of Shares Issued	220,527	220,527	0
Bulent Altan [member]
Disclosure of transactions between related parties [line items]
Number Of Shares Issued	1,136	1,136	0
StefanBerndtvonBlow [member]
Disclosure of transactions between related parties [line items]
Number Of Shares Issued	174	174	0

Financial Instruments And Financial Risk Management (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of categories of financial instrument

The financial instruments were allocated to the following categories:


	December 31, 2022				December 31, 2021
€ thousand	Current		Non-current		Current		Non-current
Financial Assets (AC)
Other financial assets		48		449		143		411
Cash and cash equivalents		10,238		0		48,143		0
Trade receivables		1,101		0		0		0
Total		11,387		449		48,286		411
Financial Assets (FVTPL)		172		0		0		0
Total Financial Assets		11,559		449		48,286		411
Financial Liabilities (FLAC)
Trade and other payables		9,238		0		8,396		0
Lease liabilities		1,855		7,087		1,638		7,389
Other Financial Liabilities		14,530		249		37		0
Total Financial Liabilities		25,623		7,336		10,071		7,389

Summary of remaining contractual terms of financial liabilities including estimated interest payments

The following table shows the remaining contractual terms of financial liabilities as of the reporting date, including estimated interest payments. The amounts presented are undiscounted gross amounts, including contractual interest payments but excluding the presentation of netting effects.


	December 31, 2022
€ thousand	Carrying amount		less than 1 year		between 1 and 2 years		between 3 and 5 years		more than 5 years		Total
Trade and other payables		9,238		9,238		0		0		0		9,238
Lease liabilities		8,942		1,901		1,905		3,405		2,372		9,583
Other financial liabilities		14,779		14,628		98		180		0		14,906
Total		32,959		25,767		2,003		3,585		2,372		33,727


	December 31, 2021
€ thousand	Carrying amount		less than 1 year		between 1 and 2 years		between 3 and 5 years		more than 5 years		Total
Trade and other payables		8,396		8,396		0		0		0		8,396
Lease liabilities		9,027		1,640		1,605		3,148		3,328		9,721
Other financial liabilities		37		37		0		0		0		37
Total		17,460		10,073		1,605		3,148		3,328		18,154

Summary of quantitative information about the Group's currency risk exposure provided to group management

The following is a summary of quantitative information about the Group’s currency risk exposure provided to Group management:


December 31, 2022

€ thousand	USD
Intercompany receivables		4,060
Intercompany long-term lending’s		7,500
Cash and cash equivalents		3,868
Intercompany payables		55
Trade payables		142
Other liabilities		435
Net statement of financial position exposure		14,796


December 31, 2021

€ thousand	EUR		USD
Intercompany receivables		0		4,384
Other financial assets		0		33
Cash and cash equivalents		0		32,713
Intercompany payables		6,494		503
Trade payables		0		83
Other liabilities		0		185
Net statement of financial position exposure		-6,494		36,359

Summary of sensitivity analysis measurement of financial instruments denominated in foreign currency and would have affected equity and profit or loss


Effects on Group profit/loss
	2022				2021				2020
	Changes in exchange rates				Changes in exchange rates				Changes in exchange rates
€ thousand	Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%
EUR		0		0		-328		328		-262		262
USD		740		-740		1,818		-1,818		35		-35
Total		740		-740		1,490		-1,490		-227		227


Effects on Group equity
	2022				2021				2020
	Changes in exchange rates				Changes in exchange rates				Changes in exchange rates
€ thousand	Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%
EUR		0		0		-325		325		-233		233
USD		740		-740		1,818		-1,818		35		-35
Total		740		-740		1,493		-1,493		-198		198

The following exchange rates were used:


	Average rate						Spot exchange rate as of the reporting date
	2022		2021		2020		2022		2021		2020
EUR/USD		0.95441		0.84819		0.87322		0.93756		0.88292		0.89160

Summary of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets

The table below summarizes the impact on the fair values of Level 3 instruments by changing the significant unobservable input factors.


€ thousand	December 31, 2022 Profit or loss
€ thousand	increase		decrease
Interest rate volatility (movement +/- 5%)		5		-5
Credit Spread (movement +/- 1%)		-29		29

Summary of changes in level 3 financial instruments

Changes in level 3 financial instruments in 2022 are shown in the following table:


€ thousand	Fair value January 1, 2022		Additions		Disposals		Gains/(losses) recognized in financial income /expenses		Fair value December 31, 2022
Other financial and non-financial assets		—		454		0		-282		172

Summary of net gains/losses by measurement category

The net gains/losses by measurement category are as follows:


2022 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		-282


2021 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		0


2020 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		0

Statement of Cash Flows

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Statement of Cash Flows

31. Statement of Cash Flows

The cash funds correspond to cash and cash equivalents as of the reporting date, comprising primarily cash on hand and bank balances.

Reconciliation of movements in liabilities to cash flows from financing activities

The reconciliation of liabilities to the cash flows from financing activities required to be disclosed in accordance with IAS 7.44 is as follows:


			Cash Changes				Non-cash changes
€ thousand	Balance as of Jan. 1, 2022		Inflows		Outflows		Additions		Unpaid interest		FX		Balance as of Dec. 31, 2022
Short-term loans		0		13,110		0		0		1,330		0		14,440
Lease liabilities		9,027		0		-1,713		1,439		6		183		8,942
Other sundry financial liabilities		37		420		-137		15		4		0		339
Total		9,064		13,530		-1,850		1,454		1,340		183		23,721


			Cash Changes				Non-cash changes
€ thousand	Balance as of Jan. 1, 2021		Inflows		Outflows		Additions		Unpaid interest		FX		Balance as of Dec. 31, 2021
Short-term loans		0		7,500		-7,500		0		0		0		0
Lease liabilities		7,956		0		-1,056		1,951		0		176		9,027
Other sundry financial liabilities		0		0		0		37		0		0		37
Summe		7,956		7,500		-8,556		1,988		0		176		9,064


			Cash Changes		Non-cash changes
€ thousand	Balance as of Jan. 1, 2020		Inflows		Additions		Disposals		Unpaid interest		FX		Reclassifications		Balance as of Dec. 31, 2020
Convertibale bonds		0		5,000		5,000		0		500		0		-5,500		0
Short-term loans		0		0		2,500		-2,500		0		0		0		0
Lease liabilities		6,762		-675		1,947		0		0		-78		0		7,956
Summe		6,762		4,325		9,447		-2,500		500		-78		-5,500		7,956

Contingent Liabilities, Commitments, and Other Financial Obligations (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Other Financial Obligations

Other financial obligations as of December 31, 2022, are as follows:


December 31, 2022

€ thousand	up to 1 year		1 to 5 years		>5 years		Total
Incidental rental costs		381		2,438		2,480		5,299
Software and licenses		1,012		1,117		0		2,129
Other		262		0		0		262
Total		1,655		3,555		2,480		7,690

Summary of Detailed Information About Financial Obligations From Outstanding Purchase Order

In addition, there are financial obligations from outstanding purchase orders for intangible assets and Property, plant and equipment in the following amounts:


€ thousand	December 31, 2022
Intangible assets		14
Property, plant and equipment		1,258
Total		1,272

Inventories - Summary of write-downs of inventory (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Write downs of raw material and supplies	€ (5,601)	€ (2,039)	€ 0
Write downs of work in progress	(1,225)	(397)	(120)
Write downs of finished goods	(657)	(65)	0
Total	€ (7,483)	€ (2,501)	€ (120)

Depreciation, Amortization and Impairment

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Depreciation, Amortization and Impairment

10.	Depreciation, Amortization and Impairment

Amortization, depreciation and impairment are summarized as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Amortization of intangible assets		1,545		1,267		215
Impairment of intangible assets		1,531		0		0
Depreciation of property, plant, and equipment		3,254		1,994		823
Depreciation of right-of-use assets		1,659		1,257		805
Total		7,989		4,518		1,843

During the year ended December 31, 20

22,

an impairment in the amount of €1,531 thousand (2021: €0, 2020: €0) was recognized for the capitalized development costs of the CONDOR MEO (refer to Note 17).

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary Of Detailed Information About Intangible Assets Other Than Goodwill

Cost


€ thousand	Development costs		Software and licenses		Total
Balance as of Jan. 1, 2020		8,695		286		8,981
Additions		9,258		61		9,319
Balance as of Dec. 31, 2020		17,953		347		18,300
Additions		2,924		436		3,360
Disposals		0		-9		-9
Balance as of Dec. 31, 2021		20,877		774		21,651
Additions		1,023		142		1,165
Balance as of Dec. 31, 2022		21,900		916		22,816

Summary Of Detailed Information About Amortization And Impairment Of Intangible Assets Other Than Goodwill

Amortization and Impairment


€ thousand	Development costs		Software and licenses		Total
Balance as of Jan. 1, 2020		0		201		201
Amortization for the year		158		57		215
Balance as of Dec. 31, 2020		158		258		416
Amortization for the year		1,174		93		1,267
Disposals		0		-1		-1
Balance as of Dec. 31, 2021		1,332		350		1,682
Amortization for the year		1,359		186		1,545
Impairment for the year		1,531		0		1,531
Balance as of Dec. 31, 2022		4,222		536		4,758

Summary Of Detailed Information About Carrying Amount Of Intangible Assets Other Than Goodwill

Carrying amount


€ thousand	Development costs		Software and licenses		Total
Carrying amount as of Dec. 31, 2020		17,795		89		17,884
Carrying amount as of Dec. 31, 2021		19,545		424		19,969
Carrying amount as of Dec. 31, 2022		17,678		380		18,058

Summary Of Detailed Information About Carrying Amounts Of The Capitalized Development Projects

The carrying amounts of the capitalized development projects were as follows:


€ thousand	Space		Air		CONDOR MEO		Total
Carrying amount as of Dec. 31, 2020		13,552		4,243		0		17,795
Carrying amount as of Dec. 31, 2021		15,072		3,965		508		19,545
Carrying amount as of Dec. 31, 2022		13,998		3,681		0		17,678

Summary Of Detailed Information About Useful Life Carrying Amounts Of The Capitalized Development Projects

The remaining useful life of the capitalized development projects were as follows:

in years

Space

Air

CONDOR MEO

Remaining useful life as of Dec. 31, 2020

n/a

14.5

n/a

Remaining useful life as of Dec. 31, 2021

14.2

13.5

n/a

Remaining useful life as of Dec. 31, 2022

13.2

12.5

n/a

Right-of-use Assets - Summary Of Undiscounted Future Payments For A Not Yet Commenced Leasing Contract (Detail) € in Thousands	Aug. 01, 2023 EUR (€)
Disclosure In Tabular Form Of Future Lease Payments For Contracts Not Yet Commenced [Line Items]
Future payments for a not yet commenced leasing contract	€ 25,319
Within five years
Disclosure In Tabular Form Of Future Lease Payments For Contracts Not Yet Commenced [Line Items]
Future payments for a not yet commenced leasing contract	11,183
Over five years [member]
Disclosure In Tabular Form Of Future Lease Payments For Contracts Not Yet Commenced [Line Items]
Future payments for a not yet commenced leasing contract	€ 14,136

Financial Instruments And Financial Risk Management - Summary Of Net Gains/Losses By Measurement Category (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial assets at amortised cost, category [member] \| Financial assets at amortised cost, class [member]
Disclosure of Detailed Information about Net Gains Or Losses by Measurement Category [Line Items]
Financial assets	€ 0	€ 0	€ 0
Financial assets at fair value through profit or loss, category [member] \| Financial assets at fair value, class [member]
Disclosure of Detailed Information about Net Gains Or Losses by Measurement Category [Line Items]
Derivative Financial Assets	€ (282)	€ 0	€ 0

Earnings per Share

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Earnings per Share

16.	Earnings per Share

Basic earnings per share is calculated by dividing earnings after taxes attributable to the shares by the number of participating shares. Diluted earnings per share is calculated by considering the potential increase in the Group’s ordinary shares as the result of granted stock options, restricted stock units and convertible bonds.

Earnings per share were as follows:


	for the years ended
	December 31, 2022		December 31, 2021		December 31, 2020
Consolidated net profit/loss in € thousand		-73,782		-45,477		-19,770
Weighted-average number of ordinary shares, basic and diluted		5,435,839		4,250,135		3,349,403
Basic and diluted earnings per share in €		-13.57		-10.70		-5.90

As of December 31, 2022, 45,794 RSU´s (2021: 4,289

RSU´s, 2020: 0 RSU’s) and no stock options (2021: 152,610 stock options, 2020:

104,831

stock options) were excluded from the diluted weighted average number of ordinary shares calculation because their effect would have been anti-dilutive.

The average market value of the Company’s shares for the purpose of calculating the dilutive effect of share options was based on quoted market prices for the year during which the options were outstanding.

Segment reporting and information on geographical areas

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Segment reporting and information on geographical areas

5.	Segment reporting and information on geographical areas

In accordance with IFRS 8 (Operating Segments), the Company’s operating segments are based on the management approach. Accordingly, segments must be classified and disclosures for these segments must be made based on the criteria used internally by the chief operating decision maker (CODM) for the allocation of resources and the evaluation of performance by the components of the entity. The CODM is the Management Board (refer to Note 36) collectively which allocates resources and evaluates segment performance based on the Management Board reports submitted to it. The segment reporting below was prepared in accordance with this definition. The CODM uses Operating profit/loss as the primary profitability measure to evaluate performance of the Company’s operating segments.

The Air segment includes the Company’s HAWK AIR terminals and related services. The Space segment includes the Company’s CONDOR terminals and related services.


	For the year ended December 31, 2022
€ thousand	Air		Space		Not allocated			Group
Revenue		1,384		3,038		0			4,422
Operating profit/loss		-20,929		-46,773		-6,088	2		-73,790
Interest and similar expenses									-2,545
Net foreign currency gain / (loss)									2,574
Net finance costs									29
Share of profit of equity-accounted investees, net of tax									-45
Profit/loss before tax									-73,806
Income tax expense									24
Consolidated net profit/loss									-73,782

2	Including costs for the D&O insurance related the stock listing (€4,715 thousand), the audit of the financial statements (€951 thousand) as well as Supervisory Board remuneration (€422 thousand) which are not directly incremental.


	For the year ended December 31, 2021
€ thousand	Air		Space		Not allocated			Group
Revenue		0		2.355		0			2.355
Operating profit/loss		-10,793		-30,082		-1,489	3		-42,364
Interest and similar expenses									-2,148
Net foreign currency gain / (loss)									826
Net finance costs									-1,322
Profit/loss before tax									-43,686
Income tax expense									-1,791
Consolidated net profit/loss									-45,477

3	Including IPO-related costs (€682 thousand), costs for audit of the financial statements (€538 thousand) and Supervisory Board remuneration (€269 thousand) which are not directly incremental.


	For the year ended December 31, 2020
€ thousand	Air		Space		Not allocated			Group
Revenue		589		90		0			679
Operating profit/loss		-6,423		-12,391		-443	4		-19,257
Interest and similar income									18
Net foreign currency gain / (loss)									-531
Net finance costs									-513
Profit/loss before tax									-19,770
Income tax expense									0
Consolidated net profit/loss									-19,770

4	Including costs for the audit of the financial statements (€313 thousand) as well as Supervisory Board remuneration (€130 thousand).

For the year ended December 31, 2022, expenses related to the write offs of inventories have been recognized for the Segment Space in the amount of €5,982 thousand (2021: €2,501 thousand, 2020: €0 thousand). For the year ended December 31, 2022, expenses related to the write offs of inventories have been recognized for the Segment Air in the amount of €1,500 thousand (2021: €0 thousand, 2020: €120 thousand).

For the year ended December 31, 2022, an impairment was recognized in the amount of €1,531 thousand (2021: €0, 2020: €0) related to capitalized development costs in the segment Space (refer to Note 17).

With respect to the information on geographical regions, revenue is allocated to the countries based on the country of destination of the respective customer;

non-current

assets are allocated to the location of the respective asset.

Revenue can be broken down by country as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
USA		4,422		2,355		467
Canada		0		0		122
Belgium		0		0		90
Total		4,422		2,355		679

Non-current

assets can be broken down by country as follows:


€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Germany
Intangible assets		18,058		19,969		17,884
Property, plant, and equipment		18,589		14,490		9,849
Right-of-use assets		6,447		6,053		6,886
Germany, total		43,094		40,512		34,619
USA
Property, plant, and equipment		3,720		2,278		226
Right-of-use assets		2,335		2,774		1,056
USA, total		6,055		5,052		1,282
Total		49,149		45,564		35,901

Personnel costs (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Personnel Costs

The following table shows the breakdown of the personnel costs:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Wages and salaries		26,318		18,185		13,585
Share based payments		6,133		1,942		1,125
Social security contributions, pensions, and other employee benefits		4,959		3,238		2,124
Total		37,410		23,365		16,834

Summary of Detailed Information About Stock Options

The options changed as follows in fiscal year 2022 (Tranches 2019):


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2019 X
Options outstanding as of Jan. 1, 2022		93,800		20,000		12,500		53,000		26,600		7,000		6,000		12,350		5,000		—
Options granted		—		—		—		—		—		—		—		—		—		2,500
Options forfeited		300		—		5,100		—		8,600		1,000		—		1,500		—		—
Options exercised		—		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2022		93,500		20,000		7,400		53,000		18,000		6,000		6,000		10,850		5,000		2,500
Options exercisable as of Dec. 31, 2022		—		—		—		—		—		—		—		—		—		—

The options changed as follows in fiscal year 2022 (Tranches 2020 - 2022):


	Tranche 2020 I		Tranche 2021 I			Tranche 2022 I		Tranche Altan
Options outstanding as of Jan. 1, 2022		14,000		100,000			—		56,700
Options granted		—		—			108,000		—
Options forfeited		—		—			—		—
Options exercised		—		—			—		—
Options expired		—		40,000	5		—		56,700
Options outstanding as of Dec. 31, 2022		14,000		60,000			108,000		—
Options exercisable as of Dec. 31, 2022		—		—			—		—

Note: A total of 40,000 options from the 2021 I tranche were waived, which was compensated for by the granting of 33,000 new options from the 2022 I tranche.

The options changed as follows in fiscal year 2021:


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2021 I		Tranche Mr. Altan
Options outstanding as of Jan. 1, 2021		107,100		20,000		14,550		53,000		26,600		13,500		14,000		—		—		—		—		56,700
Options granted		—		—		—		—		—		—		—		6,000		14,350		5,000		100,000		—
Options forfeited		13,300		—		2,050		—		—		6,500		—		—		2,000		—		—		—
Options exercised		—		—		—		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2021		93,800		20,000		12,500		53,000		26,600		7,000		14,000		6,000		12,350		5,000		100,000		56,700
Options exercisable as of Dec. 31, 2021		—		—		—		—		—		—		—		—		—		—		—		56,700

The options changed as follows in fiscal year 2020:


	Tranche 2018		Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche Mr. Altan
Options outstanding as of Jan. 1, 2020		2,200		107,400		20,000		—		—		—		—		—		56,700
Options granted		—		—		—		19,850		53,000		26,600		13,500		14,000		—
Options Forfeited		2,200		300		—		5,300		—		—		—		—		—
Options exercised		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2020		—		107,100		20,000		14,550		53,000		26,600		13,500		14,000		56,700
Options exercisable as of Dec. 31, 2020		—		—		—		—		—		—		—		—		56,700

Summary of Measurement of Stock Option Plan Based On Monte Carlo Simulation

The measurement of the existing stock option plans was based on the Monte Carlo Simulation model or the Binomial model, considering the terms and conditions for the options. The table below shows the inputs used for the model as of December 31, 2022.


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2019 X		Tranche 2021 I		Tranche 2022 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		68.97		71.15		70.31		37.31		71.15		32.90		25.00
Term in years		7		7		7		7		7		7		7		7		7		7		7		7		9		1.74
Remaining term in years		3.75		4.00		4.25		4.50		4.75		5.00		4.75		5.25		5.50		5.75		6.50		5.50		8.75		0
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		64.20		80.20		64.80		27.55		80.20		19.76		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		36.67		36.90		37.56		38.46		36.90		35.31		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.53		-0.40		-0.40		1.12		-0.40		2.02		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		14.18		25.17		16.28		5.72		25.17		1.97 – 2.01		20.40

The table below shows the inputs used for the model as of December 31, 2021.


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2021 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		68.97		71.15		70.31		71.15		25.00
Term in years		7		7		7		7		7		7		7		7		7		7		7		1.74
Remaining term in years		4.75		5.00		5.25		5.50		5.75		6.00		5.75		6.25		6.5		6.75		6.5		0.35
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		64.20		80.20		64.80		80.20		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		36.67		36.90		37.56		36.90		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.53		-0.40		-0.40		-0.40		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		14.18		25.17		16.28		25.17		20.40

The table below shows the inputs used for the model as of December 31, 2020.


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		25.00
Term in years		7		7		7		7		7		7		7		1.74
Remaining term in years		5.75		6.00		6.25		6.50		6.75		7.00		6.75		0.35
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		20.40

Summary of Detailed Information Of Restricted Stock Units Under RSU Plan

The RSUs developed as follows in the financial year 2022:


	Tranche 2021 I		Tranche 2021 II		Tranche 2022 I		Tranche 2022 II		Tranche 2022 III		Tranche 2022 IV
RSUs outstanding as of Jan. 1, 2022		67,773		32,423		—		—		—		—
RSUs granted		—		—		26,430		28,518		50,342		13,261
RSUs forfeited		13,536		3,748		2,055		87		1,537		—
RSUs exercised		16,149		—		—		—		—		—
RSUs expired		—		—		—		—		—		—
RSUs outstanding as of Dec. 31, 2022		37,887		28,675		24,375		28,431		48,805		13,261
RSUs exercisable as of Dec. 31, 2022		—		—		—		—		—		—

The RSUs developed as follows in the financial year 2021:


	Tranche 2021 I		Tranche 2021 II
RSUs outstanding as of Jan. 1, 2021		—		—
RSUs granted		68,631		32,476
RSUs forfeited		858		53
RSUs exercised		—		—
RSUs expired		—		—
RSUs outstanding as of Dec. 31, 2021		67,773		32,423
RSUs exercisable as of Dec. 31, 2021		—		—

Summary of Measurement of Restricted Stock Unit Plan Based On Binomial Model

The valuation of the present RSU program was performed using a binomial model considering the option terms. The table below shows the input parameters of the model as grant date as of December 31, 2022.


	Tranche 2021 I		Tranche 2021 II		Tranche 2022 I		Tranche 2022 II		Tranche 2022 III		Tranche 2022 IV
Exercise price (in €)		0.00		0.00		0.00		0.00		0.00		0.00
Term in years		4.77		4.52		5.26		5.02		4.77		4.52
Remaining term in years		3.27		3.27		4.27		4.27		4.27		4.27
Share price as of the valuation date (in €)		80.60		62.90		46.35		40.65		26.75		19.76
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		39.83		39.75		38.89		39.14		39.54		45.59
Risk-free interest rate (in %)		-0.60		-0.62		-0.45		0.37		0.87		1.92
RSU-value (in €)		80.60		62.90		46.35		40.65		26.75		19.76

The table below shows the input parameters of the model as grant date as of December 31, 2021.


	Tranche 2021 I		Tranche 2021 II
Exercise price (in €)		0.00		0.00
Term in years		4.77		4.52
Remaining term in years		4.27		4.27
Share price as of the valuation date (in €)		80.60		62.90
Expected dividend yield (in %)		0.00		0.00
Expected volatility (in %)		39.83		39.75
Risk-free interest rate (in %)		-0.60		-0.62
RSU-value (in €)		80.60		62.90

Provisions (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Provisions

Current and

non-current

provisions changed as follows:


€ thousand	Jan. 1, 2022		Utilization		Reversals		Additions		FX		Dec. 31, 2022
Litigation		783		0		75		0		0		708
Asset retirement obligations		206		0		0		0		-2		204
Onerous contracts		240		0		240		0		0		0
Warranties		5		0		0		23		0		28
Total		1,234		0		315		23		-2		940
thereof non-current
Asset retirement obligations		206		0		0		0		-2		204
Warranties		5		0		0		8		0		13
Total		211		0		0		8		-2		217

Financial Instruments And Financial Risk Management - Summary Of Categories Of Financial Instrument (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Current, Amortized cost	€ 11,387	€ 48,286
Non-current, Amortized cost	449	411
Financial Assets (FVTPL), Current	172	0
Financial Assets (FVTPL), Non-current	0	0
Total Financial Assets, Current	11,559	48,286
Total Financial Assets, Non-current	449	411
Current, Cost (FLAC)	25,623	10,071
Non-current, Cost (FLAC)	7,336	7,389
Trade and Other Payables [member]
Disclosure of detailed information about financial instruments [line items]
Current, Cost (FLAC)	9,238	8,396
Non-current, Cost (FLAC)	0	0
Lease liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Current, Cost (FLAC)	1,855	1,638
Non-current, Cost (FLAC)	7,087	7,389
Other Financial Liabilities [member]
Disclosure of detailed information about financial instruments [line items]
Current, Cost (FLAC)	14,530	37
Non-current, Cost (FLAC)	249	0
Other Financial Assets [member]
Disclosure of detailed information about financial instruments [line items]
Current, Amortized cost	48	143
Non-current, Amortized cost	449	411
Cash and Cash Equivalents [member]
Disclosure of detailed information about financial instruments [line items]
Current, Amortized cost	10,238	48,143
Non-current, Amortized cost	0	0
Trade receivables [member]
Disclosure of detailed information about financial instruments [line items]
Current, Amortized cost	1,101	0
Non-current, Amortized cost	€ 0	€ 0

Cost of materials - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Cost of Materials [Abstract]
Write down of raw materials and supplies	€ 5,601	€ 2,039	€ 0

Financial Instruments And Financial Risk Management - Summary Of Quantitative Information About The Group's Currency Risk Exposure Provided To Group Management (Detail) - Currency risk [member] € in Thousands, $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 USD ($)
EUR
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		€ (6,494)
EUR \| Intercompany Receivables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		0
EUR \| Other Financial Assets [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		0
EUR \| Cash and Cash Equivalents [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		0
EUR \| Intercompany Payables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		6,494
EUR \| Trade Payables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		0
EUR \| Other Liabilities [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure \| €		€ 0
USD
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	$ 14,796		$ 36,359
USD \| Intercompany Receivables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	4,060		4,384
USD \| Other Financial Assets [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure			33
USD \| Intercompany LongTerm Lendings [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	7,500
USD \| Cash and Cash Equivalents [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	3,868		32,713
USD \| Intercompany Payables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	55		503
USD \| Trade Payables [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	142		83
USD \| Other Liabilities [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	$ 435		$ 185

Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Breakage of Revenue

Revenue is broken down as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Products		1,783		554		559
Services		0		1,801		120
Operating lease income		50		0		0
Other		2,589		0		0
Total		4,422		2,355		679

Material judgments, estimates and assumptions

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Material judgments, estimates and assumptions

4.	Material judgments, estimates and assumptions

The preparation of the consolidated financial statements requires the Management Board to make judgments, estimates and assumptions that affect the application of accounting policies and the amounts reported for assets, liabilities, income, and expenses. The most significant of these are described below.

Actual results may differ from these estimates.

Estimates and underlying assumptions are continuously reviewed. Revisions of estimates are accounted for on a prospective basis.

4.1.	Management Judgments

Information on management judgments made in the application of accounting policies that most significantly affect the amounts recognized in the financial statements are set out in the following disclosures:

Leases

The Company determines the lease term based on the

non-cancelable

period, together with both periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option. The Company has entered into several leases that include extension options and makes judgments when assessing whether it is reasonably certain that the option to extend or terminate the lease will or will not be exercised. All relevant factors representing an economic incentive to exercise the extension option are taken into consideration. No extension options have been included in the lease term of significant facilities being leased given the current management’s expectation of the Company’s future use. Had lease extension options been included, the amount of right of use assets and lease liabilities recorded on the statement of financial position would have been significantly higher.

Please refer to Note 19.

Right-of-use

Assets for details on the potential future lease payments for periods after the exercise date of the extension options that are not taken into consideration in the lease term.

Litigation risks and governmental proceedings

Legal proceedings and government investigations often involve complex legal issues and are subject to substantial uncertainties. Accordingly, management exercises material judgment in determining the litigation risks, based on the assessment from internal and external lawyers.

Revenue recognition

The Group has recognized revenue according to IFRS 15.15 b) for prepayments, which related to contracts terminated for default. These payments are assessed as

non-refundable.

However, there is a risk that the payments might need to be refunded.

4.2.	Estimates and Assumptions

Information about assumptions and estimation uncertainty as of December 31, 2022, that have a significant risk of resulting in a material adjustment to the carrying amounts of the reported assets and liabilities during the next fiscal year are discussed below:

Recognition of deferred tax assets

The calculation of deferred taxes is based on the tax rates of the individual countries applicable as of the date when the assets are realized, or the liability is settled (using tax rates enacted or announced as of the reporting date) as well as on the assessment of the future taxable income of the Company companies.

Determining the amount of deferred tax assets is subject to estimation uncertainties as regards the availability of future taxable profit against which deductible temporary differences and the tax loss carryforwards may be utilized, which may also result from or be related to future tax planning strategies.

Useful life of capitalized development costs

The expected useful life of 15 years for the capitalized Air and Space technologies based on an internal assumption of the Group. The useful life is determined on the basis of the length of the expected marketability of the products, customer requirements regarding the ability to deliver the corresponding products, which is up to 11 years for existing customer contracts, and the relatively high market entry barriers for competitors. These assumptions are assessed annually.

Impairment of capitalized development costs

Capitalized development costs are assessed at least annually, for indications of impairment. The impairment tests require estimates to be made in order to determine the recoverable amount of a cash-generating unit. Assumptions must be made regarding future cash inflows and outflows both in the planning period as well as for the periods thereafter. In particular, the future revenues, costs and expenditures are based on the long-term corporate planning. Also, market- and company-specific discount rates, expected growth rates and exchange rates are estimated. If the actual amounts deviate from the estimated amount an impairment might be needed in future periods. Based on the impairment tests performed in 2022, the recoverable amounts significantly exceed the net assets of the tested cash-generating units. Refer to Note 17 for further information on the assumptions used.

Inventories

Write-downs of inventories are measured based on the inventory days on hand and on the estimated net realizable value (expected proceeds less estimated costs incurred until completion and the estimated selling expenses necessary to make the sale). The net realizable value is estimated based on the management’s decision and expectation regarding the pricing and the future marketability of the different CONDOR and HAWK product variants. Future utilizations, actual proceeds, and costs still to be incurred may deviate from anticipated amounts, which might lead to additional write-downs in future periods.

Share-based payment

The determination of the fair value of the share-based payments is dependent on factual fluctuations of personnel in the future, which might vary from the expected ones used to estimate the amounts. The deviation from the estimated fluctuation would lead to an adjustment of the amount

recognized

in the capital reserve. Please refer to Note 11. Share-based payments for more information.

Changes in Inventories of Finished Goods and Work in Progress (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Increase in Inventories of Finished Goods and Work in Progress

The increase in inventories of finished goods and work in progress primarily results from the SPACE terminals, and HAWK terminals currently in the production phase. Changes in inventories are as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Increase in inventories of work in progress		2,100		414		757
Increase in inventories of finished goods		542		616		0
Write-downs		-1,882		-462		-120
Total		760		568		637

Other Financial and Non-Financial Assets

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Other Financial and Non-Financial Assets

23. Other Financial and

Non-Financial

Assets

Non-current

and current financial and

non-financial

assets comprise the following:


	December 31, 2022				December 31, 2021
€ thousand	Current		Non-current		Current		Non-current
NON-FINANCIAL ASSETS
Tax receivables		2,166		0		2,175		0
Prepaid expenses		2,238		0		2,041		0
Advance payments		625		0		1,025		0
Other		432		0		128		0
Total		5,461		0		5,369		0
FINANCIAL ASSETS
Security deposits		0		449		0		411
Receivables from suppliers		48		0		95		0
Embedded derivative		172		0		0		0
Other		0		0		48		0
Total		220		449		143		411
Total		5,681		449		5,512		411

The maximum default risk for financial assets is their carrying amount.

Right-of-use Assets - Summary of Lease Expenses (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Detailed Information About Lease Expenses [Abstract]
Interest expenses for lease liabilities	€ 229	€ 185	€ 137
Expenses for short-term leases	26	13	0
Expenses for leases of low-value assets	€ 6	€ 6	€ 5

Earnings per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement [Line Items]
Dilutive effect of share options on number of ordinary shares	0	152,610	104,831
Restricted Stock [Member]
Statement [Line Items]
Dilutive effect of share options on number of ordinary shares	45,794	4,289	0

Contingent Liabilities, Commitments, and Other Financial Obligations - Summary of Detailed Information About Financial Obligations from Outstanding Purchase Order (Detail) € in Thousands	Dec. 31, 2022 EUR (€)
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Financial obligations from outstanding purchase orders	€ 1,272
Intangible assets [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Financial obligations from outstanding purchase orders	14
Property, plant and equipment [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Financial obligations from outstanding purchase orders	€ 1,258

Inventories (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of break-down of inventories is presented

The break-down of inventories is presented in the table below:


€ thousand	December 31, 2022		December 31, 2021
Raw materials and supplies		10,851		6,665
Work in progress		2,058		1,183
Finished goods		439		551
Total		13,348		8,399

Summary of write-downs of inventory

During the years the Company recognized the following write-downs of inventory:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Write downs of raw material and supplies		-5,601		-2,039		0
Write downs of work in progress		-1,225		-397		-120
Write downs of finished goods		-657		-65		0
Total		-7,483		-2,501		-120

Right-of-use Assets - Summary of Right Of Use Assets (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	€ 8,827	€ 7,942
Depreciation for the year	1,659	1,257	€ 805
Ending Balance	8,782	8,827	7,942
Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	11,387	9,235	7,300
Additions	1,438	1,995	2,012
Exchange rate differences	196	168	(77)
Disposals	(16)	(11)
Ending Balance	13,005	11,387	9,235
Accumulated Depreciation [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	2,560	1,293	490
Exchange rate differences	13	17	(2)
Disposals	(11)	(7)
Depreciation for the year	1,660	1,257	805
Ending Balance	4,222	2,560	1,293
Real Estate Leases [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	8,819	7,929
Ending Balance	8,038	8,819	7,929
Real Estate Leases [Member] \| Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	11,368	9,216	7,289
Additions	688	1,995	2,004
Exchange rate differences	196	168	(77)
Disposals	(5)	(11)
Ending Balance	12,247	11,368	9,216
Real Estate Leases [Member] \| Accumulated Depreciation [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	2,549	1,287	488
Exchange rate differences	13	17	(2)
Disposals	0	(7)
Depreciation for the year	1,647	1,252	801
Ending Balance	4,209	2,549	1,287
Other Leases [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	8	13
Ending Balance	744	8	13
Other Leases [Member] \| Gross carrying amount [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	19	19	11
Additions	750	0	8
Exchange rate differences	0	0	0
Disposals	(11)	0
Ending Balance	758	19	19
Other Leases [Member] \| Accumulated Depreciation [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning Balance	11	6	2
Exchange rate differences	0	0	0
Disposals	(11)	0
Depreciation for the year	13	5	4
Ending Balance	€ 13	€ 11	€ 6

Other Operating Costs - Summary Other Operating Costs (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	€ 22,082	€ 11,830	€ 5,344
Legal and consulting fees [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	6,955	2,477	2,378
Insurance [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	4,855	803	97
Office and IT costs [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	4,236	3,282	790
Selling and travel costs [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	2,279	1,638	451
Other business supplies, equipment and services [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	1,835	1,396	382
Incidental rental costs and maintenance [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	814	696	382
Onerous contracts provision [member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	0	240	0
Other costs [Member]
Disclosure Of Other Operating Expense [Line Items]
Other operating income expense	€ 1,108	€ 1,298	€ 864

Changes in Inventories of Finished Goods and Work in Progress - Summary of Increase in Inventories of Finished Goods and Work In Progress (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Changes In Inventories Of Finished Goods And Work In Progress [Abstract]
Increase in inventories of work in progress	€ 2,100	€ 414	€ 757
Increase in inventories of finished goods	542	616	0
Write-downs	(1,882)	(462)	(120)
Total	€ 760	€ 568	€ 637

Personnel costs - Summary of Measurement of Stock Option Plan Based On Monte Carlo Simulation (Detail)	12 Months Ended
	Dec. 31, 2022 yr € / shares	Dec. 31, 2021 yr € / shares	Dec. 31, 2020 yr € / shares
Tranche Mr. Altan
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 25	€ 0	€ 25
Term in years \| yr	1.74	0	1.74
Remaining term in years	0 years	4 months 6 days	4 months 6 days
Share price as of the valuation date	€ 43.39	€ 0	€ 43.39
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	51.31%	0.00%	51.31%
Risk-free interest rate	(0.82%)	(0.00%)	(0.82%)
Option value	€ 20.4	€ 0	€ 20.4
2021 Stock Option Plan \| Tranche 2021 I
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 71.15	€ 71.15
Term in years \| yr	7	7
Remaining term in years	5 years 6 months	6 years 6 months
Share price as of the valuation date	€ 80.2	€ 80.2
Expected dividend yield	0.00%	0.00%
Expected volatility	36.90%	36.90%
Risk-free interest rate	(0.40%)	(0.40%)
Option value	€ 25.17	€ 25.17
2020 Stock Option Plan \| Tranche 2020 I
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 61.27	€ 61.27	€ 61.27
Term in years \| yr	7	7	7
Remaining term in years	4 years 9 months	5 years 9 months	6 years 9 months
Share price as of the valuation date	€ 75.46	€ 75.46	€ 75.46
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	36.39%	36.39%	36.39%
Risk-free interest rate	(0.65%)	(0.65%)	(0.65%)
Option value	€ 26.14	€ 26.14	€ 26.14
2019 Stock Option Plan
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 37.31
Term in years \| yr	7
Remaining term in years	6 years 6 months
Share price as of the valuation date	€ 27.55
Expected dividend yield	0.00%
Expected volatility	38.46%
Risk-free interest rate	1.12%
Option value	€ 5.72
2019 Stock Option Plan \| Tranche 2019 I
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 42.46	€ 42.46	€ 42.46
Term in years \| yr	7	7	7
Remaining term in years	3 years 9 months	4 years 9 months	5 years 9 months
Share price as of the valuation date	€ 38	€ 38	€ 38
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	45.91%	45.91%	45.91%
Risk-free interest rate	(0.74%)	(0.74%)	(0.74%)
Option value	€ 11.53	€ 11.53	€ 11.53
2019 Stock Option Plan \| Tranche 2019 II
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 41.03	€ 41.03	€ 41.03
Term in years \| yr	7	7	7
Remaining term in years	4 years	5 years	6 years
Share price as of the valuation date	€ 38.5	€ 38.5	€ 38.5
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	45.66%	45.66%	45.66%
Risk-free interest rate	(0.39%)	(0.39%)	(0.39%)
Option value	€ 12.42	€ 12.42	€ 12.42
2019 Stock Option Plan \| Tranche 2019 III
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 46.5	€ 46.5	€ 46.5
Term in years \| yr	7	7	7
Remaining term in years	4 years 3 months	5 years 3 months	6 years 3 months
Share price as of the valuation date	€ 35.2	€ 35.2	€ 35.2
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	48.32%	48.32%	48.32%
Risk-free interest rate	(0.62%)	(0.62%)	(0.62%)
Option value	€ 9.43	€ 9.43	€ 9.43
2019 Stock Option Plan \| Tranche 2019 IV
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 47.25	€ 47.25	€ 47.25
Term in years \| yr	7	7	7
Remaining term in years	4 years 6 months	5 years 6 months	6 years 6 months
Share price as of the valuation date	€ 51	€ 51	€ 51
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	48.45%	48.45%	48.45%
Risk-free interest rate	(0.60%)	(0.60%)	(0.60%)
Option value	€ 19.55	€ 19.55	€ 19.55
2019 Stock Option Plan \| Tranche 2019 V
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 61.27	€ 61.27	€ 61.27
Term in years \| yr	7	7	7
Remaining term in years	4 years 9 months	5 years 9 months	6 years 9 months
Share price as of the valuation date	€ 75.46	€ 75.46	€ 75.46
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	36.39%	36.39%	36.39%
Risk-free interest rate	(0.65%)	(0.65%)	(0.65%)
Option value	€ 26.14	€ 26.14	€ 26.14
2019 Stock Option Plan \| Tranche 2019 VI
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 66.49	€ 66.49	€ 66.49
Term in years \| yr	7	7	7
Remaining term in years	5 years	6 years	7 years
Share price as of the valuation date	€ 73.2	€ 73.2	€ 73.2
Expected dividend yield	0.00%	0.00%	0.00%
Expected volatility	36.63%	36.63%	36.63%
Risk-free interest rate	(0.69%)	(0.69%)	(0.69%)
Option value	€ 23.25	€ 23.25	€ 23.25
2019 Stock Option Plan \| Tranche 2019 VII
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 68.97	€ 68.97
Term in years \| yr	7	7
Remaining term in years	5 years 3 months	6 years 3 months
Share price as of the valuation date	€ 64.2	€ 64.2
Expected dividend yield	0.00%	0.00%
Expected volatility	36.67%	36.67%
Risk-free interest rate	(0.53%)	(0.53%)
Option value	€ 14.18	€ 14.18
2019 Stock Option Plan \| Tranche 2019 VIII
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 71.15	€ 71.15
Term in years \| yr	7	7
Remaining term in years	5 years 6 months	6 years 6 months
Share price as of the valuation date	€ 80.2	€ 80.2
Expected dividend yield	0.00%	0.00%
Expected volatility	36.90%	36.90%
Risk-free interest rate	(0.40%)	(0.40%)
Option value	€ 25.17	€ 25.17
2019 Stock Option Plan \| Tranche 2019 IX
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 70.31	€ 70.31
Term in years \| yr	7	7
Remaining term in years	5 years 9 months	6 years 9 months
Share price as of the valuation date	€ 64.8	€ 64.8
Expected dividend yield	0.00%	0.00%
Expected volatility	37.56%	37.56%
Risk-free interest rate	(0.40%)	(0.40%)
Option value	€ 16.28	€ 16.28
2022 Stock Option Plan \| Tranche 2022 I
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Exercise price	€ 32.9
Term in years \| yr	9
Remaining term in years	8 years 9 months
Share price as of the valuation date	€ 19.76
Expected dividend yield	0.00%
Expected volatility	35.31%
Risk-free interest rate	2.02%
2022 Stock Option Plan \| Tranche 2022 I \| Bottom of range
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Option value	€ 1.97
2022 Stock Option Plan \| Tranche 2022 I \| Top of range
Disclosure Of Measurement Of Share Options Granted During Period [Line Items]
Option value	€ 2.01

Basis of Accounting

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Basis of Accounting

2.	Basis of Accounting

The Company’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (IASB) taking into account the recommendations of the International Financial Reporting Standards Interpretations Committee (“IFRIC”). These consolidated financial statements have been authorized for issue by the Company’s supervisory board on April

, 2023.

The consolidated financial statements are presented in euro (€). Rounding differences may result in differences in amounts and percentages.

The consolidated statements of profit and loss were prepared using the nature of expense method.

In accordance with IAS 1 (Presentation of Financial Statements), a distinction is made in the statement of financial position between

non-current

and current assets and liabilities. Assets, provisions, and liabilities are classified as current if they are realizable or due within a period of one year.

The consolidated financial statements were prepared on a going concern basis; however, management has identified material uncertainties that may cast significant doubt on the Group’s ability to continue as a going concern.

For the year ended December 31, 2022, the Company recognized a net loss of €73.8 million. The Company’s net current assets as of December 31, 2022, were

€-12.8 million.

As of the date of the authorization of these consolidated financial statements the Group has €51.8 million in cash and cash equivalents.

Management has planned for significant increases in revenue and cash flows in fiscal years 2023 and 2024 as it ramps up its commercial production of CONDOR and HAWK terminals. While a significant portion of the revenue planned for fiscal 2023 is contractually committed, significant amounts of the revenue planned for fiscal 2024 are not contractually committed and are based on management’s expectations regarding the outcome of major public project tenders and negotiations with potential or existing customers. Management is actively pursuing multiple commercial opportunities to sell its CONDOR and HAWK terminals to a strongly expanding customer base. To realize these planned increases in revenue, the Group will need to make additional investments in property, plant and equipment and development and refinement of its products which will require additional sources of liquidity and financing.

On April 25, 2023, the Group entered into debt and equity agreements with different investment companies. From those agreements the Group obtained additional debt

in the amount $75.0 million

and equity financing in the amount of

€12.4 million. For further details refer to Note 37 (“Events after the reporting date”).

Based on the Group’s liquidity position on April

, 2023, and management’s forecast of sources and uses of cash and cash equivalents, management believes that it has sufficient liquidity to finance its operations over at least the next twelve months from the date of authorization of these consolidated financial statements. However, there can be no assurance that the revenues and the corresponding customer payments will be generated in the amount as expected or at the time needed. A shortfall of revenues and of the corresponding customer payments compared to the budget could require additional external financing to meet its current operational planning. In such a situation, if the Group should be unable to obtain such additional financing or take other timely actions in response to such circumstances, for example significantly curtailing its current operational budget in 2024, it may be unable to continue as a going concern.

As a result, these events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern and, therefore, the Group may be unable to realize its assets and discharge its liabilities in the normal course of business.

These consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the carrying amounts and classification of assets, liabilities and reported expenses that may otherwise be required if the going concern basis was not appropriate.

Consolidated Statements of Cash Flows - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Consolidated net profit/(loss)	€ (73,782)	€ (45,477)	€ (19,770)
Adjustments for:
Income tax expense	(24)	1,791	0
Depreciation, amortization and impairment	7,989	4,518	1,840
Loss from disposals of non-current assets	109	20	51
Interest and similar (income) and expenses, net	2,545	2,148	(18)
Equity-settled share-based payment	6,133	1,942	1,125
Share of profit of equity-accounted investees, net of tax	45	0	0
Net foreign exchange (gain) / loss	(2,574)	(826)	531
Inventories	(4,958)	(3,167)	(4,032)
Trade receivables	(1,120)	572	(589)
Other financial and non-financial assets	(87)	(4,209)	(600)
Provisions	(296)	14	683
Trade and other payables	2,235	2,320	2,422
Contract liabilities	(144)	(1,013)	1,209
Other financial liabilities	(22)	0	0
Other non-financial liabilities	13,737	1,941	213
Net cash from operating activities	(50,215)	(39,426)	(16,935)
Cash flows from investing activities
Acquisition of intangible assets	(1,120)	(3,346)	(8,286)
Acquisition of property, plant and equipment	(10,179)	(7,612)	(6,724)
Interest income received	0	0	83
Acquisition of equity-accounted investees	(400)	0	0
Net cash used in investing activities	(11,699)	(10,958)	(14,927)
Cash flows from financing activities
Proceeds from issue of share capital	11,201	66,542	65,143
Share issue costs	(262)	(8,303)	(3,397)
Proceeds from issue of convertible notes	0	0	5,000
Proceeds from loans and borrowings	13,529	7,500	2,500
Transaction costs related to loans and borrowings	(450)	(450)	(188)
Repayments of loans and borrowings	(96)	(7,500)	(2,500)
Payments of lease liabilities	(1,713)	(1,056)	(675)
Interest expenses paid	(241)	(1,931)	(368)
Proceeds from other financial assets	0	0	742
Net cash from financing activities	21,968	54,802	66,257
Net increase/decrease in cash and cash equivalents	(39,946)	4,418	34,395
Cash and cash equivalents at January 1	48,143	43,198	8,914
Effects of movements in exchange rates on cash and cash equivalents	2,041	527	(111)
Cash and cash equivalents at December 31	€ 10,238	€ 48,143	€ 43,198

Other Operating Costs (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary Other Operating Costs

Other operating costs can be broken down as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Legal and consulting fees		6,955		2,477		2,378
Insurance		4,855		803		97
Office and IT costs		4,236		3,282		790
Selling and travel costs		2,279		1,638		451
Other business supplies, equipment and services		1,835		1,396		382
Incidental rental costs and maintenance		814		696		382
Onerous contracts		0		240		0
Other costs		1,108		1,298		864
Total		22,082		11,830		5,344

Changes in Inventories of Finished Goods and Work in Progress

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Changes in Inventories of Finished Goods and Work in Progress

12.	Changes in Inventories of Finished Goods and Work in Progress


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Increase in inventories of work in progress		2,100		414		757
Increase in inventories of finished goods		542		616		0
Write-downs		-1,882		-462		-120
Total		760		568		637

The write-downs refer to CONDOR Mk2 and Mk1 terminals that were written down to t

heir

net realizable value.

Cost of materials - Summary of Cost of Materials (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Cost of Materials [Abstract]
Raw materials and consumables used	€ 13,007	€ 7,736	€ 4,715
Costs for services purchased	2,427	2,888	1,506
Total	€ 15,434	€ 10,624	€ 6,221

Intangible Assets - Summary of Detailed Information About Carrying Amounts of the Capitalized Development Projects (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Carrying amount	€ 18,058	€ 19,969
Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	17,678	19,545	€ 17,795
Capitalised development expenditure [member] \| Space Base Technology [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	13,998	15,072	13,552
Capitalised development expenditure [member] \| Air Base Technology [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	3,681	3,965	4,243
Capitalised development expenditure [member] \| Condor Meo [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	€ 0	€ 508	€ 0

Segment reporting and information on geographical areas - Summary of Operating Segments (Parenthetical) (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Entitys Reportable Segments [Abstract]
Directors and offciers insurance and stock listing costs	€ 4,715
Audit fees	951	€ 538	€ 313
Supervisory board remuneration	€ 422	269	€ 130
Initial public offering costs		€ 682

Property, Plant, and Equipment - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Investments in property, plant, and equipment	€ 8,776	€ 8,594	€ 7,125
Capitalized borrowing costs	€ 32	€ 154	€ 45

Other operating income - Summary of Other Operating Income (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Other Operating Income [Abstract]
Income from grants	€ 2,091	€ 279	€ 295
Income from the reversal of liabilities	0	90	0
Income from related parties	0	27	0
Other	285	39	0
Total	€ 2,376	€ 435	€ 295

Net Finance Costs (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Financial Result

The financial result is calculated as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
FINANCIAL INCOME
Other interest income from loans and receivables		0		0		18
Total		0		0		18
FINANCIAL EXPENSES
Interest and similar expenses on loans		-2,403		-2,196		-918
Interest on lease obligations		-229		-185		-137
Borrowing costs capitalized in accordance with IAS 23		87		233		1,055
Total		-2,545		-2,148		0
Net foreign exchange gain (loss)		2,574		826		-531
Total		29		-1,322		-513

Summary of Borrowing Costs

Borrowing costs capitalized as the cost in accordance with IAS 23 are as follows:


	For the years ended
€ thousand	December 31, 2022			December 31, 2021			December 31, 2020
Total finance expenses		2,632			2,381			1,055
Thereof capitalized as the cost of
Development projects		56			79			1,010
Construction in progress		32			154			45
Capitalization rate p.a.		9.08	%		22.06	%		10.69	%

Basis of Consolidation and Accounting Policies - Additional Information (Detail)		12 Months Ended
	Mar. 01, 2021	Dec. 31, 2022	Dec. 31, 2021
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of intangible assets	15 years
Period of expected credit loss recognized		12 months
Due period of financial liabilities to be settled		12 months
Applicable tax rate		27.725%	27.725%
Useful life of leases		10 years
Short term lease term of contract		12 months
Other Leases Where Purchase Option Can Be Excercised [Member]
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of leases		15 years
Mynaric AG And German Subsidiaries
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Applicable tax rate		27.725%
Corporation Tax \| Mynaric AG And German Subsidiaries
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Applicable tax rate		15.00%
Surcharge \| Mynaric AG And German Subsidiaries
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Applicable tax rate		5.50%
Trade Tax \| Mynaric AG And German Subsidiaries
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Applicable tax rate		11.90%
Past Due
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Information about credit risk past due financial asset		30 days
Computer equipment
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of property plant and equipment		3 years
Bottom of range \| Real Estate
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of leases		3 years
Bottom of range \| Other Leases
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of leases		3 years
Bottom of range \| Plant and equipment
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of property plant and equipment		3 years
Top of range \| Real Estate
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of leases		10 years
Top of range \| Other Leases
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of leases		5 years
Top of range \| Plant and equipment
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of property plant and equipment		14 years
Capitalised development expenditure \| Top of range
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of intangible assets		15 years
Software And Licenses [member] \| Bottom of range
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of intangible assets		3 years
Software And Licenses [member] \| Top of range
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Useful life of intangible assets		5 years

Property, Plant, and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Disclosure of detailed information about property, plant and equipment [text block]

Cost


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Balance as of Jan. 1, 2020		1,180		2,099		865		472		4,616
Exchange rate differences		-5		0		-12		0		-17
Additions		81		1,790		1,977		3,277		7,125
Reclassifications		0		542		490		-1,032		0
Disposals		0		-128		-169		0		-297
Balance as of Dec. 31, 2020		1,256		4,303		3,151		2,717		11,426
Exchange rate differences		49		0		34		23		107
Additions		1,107		2,437		2,654		2,397		8,594
Reclassifications		562		2,014		311		-2,887		0
Disposals		-8		0		-283		0		-291
Balance as of Dec. 31, 2021		2,966		8,754		5,867		2,250		19,838
Exchange rate differences		70		-9		41		22		124
Additions		438		1,239		2,356		4,743		8,776
Reclassifications		136		4,331		105		-4,572		0
Disposals		0		-1		-261		-60		-322
Balance as of Dec. 31, 2022		3,610		14,314		8,108		2,383		28,415

Depreciation


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Balance as of Jan. 1, 2020		86		458		232		0		776
Depreciation for the year		120		288		415		0		823
Disposals		0		-116		-131		0		-247
Balance as of Dec. 31, 2020		206		630		516		0		1,352
Exchange rate differences		4		0		2		0		7
Depreciation for the year		304		773		916		0		1,994
Disposals		0		0		-283		0		-283
Balance as of Dec. 31, 2021		514		1,403		1,151		0		3,070
Exchange rate differences		1		0		4		0		5
Depreciation for the year		526		1,419		1,309		0		3,254
Disposals		0		-2		-219		0		-221
Balance as of Dec. 31, 2022		1,041		2,820		2,245		0		6,106

Carrying amount


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Carrying amount as of Dec. 31, 2020		1,050		3,673		2,635		2,717		10,075
Carrying amount as of Dec. 31, 2021		2,452		7,351		4,716		2,250		16,768
Carrying amount as of Dec. 31, 2022		2,569		11,494		5,863		2,383		22,309

Contingent Liabilities, Commitments, and Other Financial Obligations

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Contingent Liabilities, Commitments, and Other Financial Obligations

34.	Contingent Liabilities, Commitments, and Other Financial Obligations

34.1.

Contingent liabilities

Within the course of its ordinary activities, the Group may be involved in legal disputes from time to time. Based on the assessment of the Management Board as well as legal counsel, there are no claims beyond the litigation risks reported in the provisions that may be significant with regard to the Company’s business and its financial position and performance.

34.2.

Commitments

As in the previous year, there are no commitments arising under guarantees.

34.3.

Other financial obligations

Other financial obligations as of December 31, 2022, are as follows:


December 31, 2022

€ thousand	up to 1 year		1 to 5 years		>5 years		Total
Incidental rental costs		381		2,438		2,480		5,299
Software and licenses		1,012		1,117		0		2,129
Other		262		0		0		262
Total		1,655		3,555		2,480		7,690

The significant amount in financial obligations from software and licenses includes an agreement for the use of SAP. The other obligations are primarily service contracts.

In addition, there are financial obligations from outstanding purchase orders for intangible assets and Property, plant and equipment in the following amounts:


€ thousand	December 31, 2022
Intangible assets		14
Property, plant and equipment		1,258
Total		1,272

Own Work Capitalized - Summary of Detailed Information About Own Work Capitalized (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Own Work Capitalized [Abstract]
Cost of materials	€ 689	€ 1,995	€ 4,073
Personnel expenses	665	1,906	3,921
Depreciation and Amortization	112	287	802
Other operating expenses	101	427	579
Total	€ 1,567	€ 4,615	€ 9,375

Revenue - Summary of Breakage of Revenue (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue [abstract]
Products	€ 1,783	€ 554	€ 559
Services	0	1,801	120
Operating lease income	50	0	0
Other	2,589	0	0
Total	€ 4,422	€ 2,355	€ 679

- Definition

The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 28
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2022-03-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 23
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2022-03-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 32
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_32&doctype=Standard
-URIDate 2022-03-24

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2022-03-24

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2022-03-24
-Paragraph 34
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2022-en-r&anchor=para_34&doctype=Standard
-URIDate 2022-03-24

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2022-03-24
-Paragraph 33
-Subparagraph b
-Clause i
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2022-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2022-03-24

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B12
-Subparagraph b
-Clause v
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2022-03-24
-Paragraph B10
-Subparagraph b
-URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2022-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2022-03-24

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 82
-Subparagraph a
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2022-03-24

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 103
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_103&doctype=Standard
-URIDate 2022-03-24

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2022-03-24
-Paragraph 102
-URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_102&doctype=Standard
-URIDate 2022-03-24

+ Details

Intangible Assets

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Intangible Assets

17.	Intangible Assets

Cost


€ thousand	Development costs		Software and licenses		Total
Balance as of Jan. 1, 2020		8,695		286		8,981
Additions		9,258		61		9,319
Balance as of Dec. 31, 2020		17,953		347		18,300
Additions		2,924		436		3,360
Disposals		0		-9		-9
Balance as of Dec. 31, 2021		20,877		774		21,651
Additions		1,023		142		1,165
Balance as of Dec. 31, 2022		21,900		916		22,816

Amortization and Impairment


€ thousand	Development costs		Software and licenses		Total
Balance as of Jan. 1, 2020		0		201		201
Amortization for the year		158		57		215
Balance as of Dec. 31, 2020		158		258		416
Amortization for the year		1,174		93		1,267
Disposals		0		-1		-1
Balance as of Dec. 31, 2021		1,332		350		1,682
Amortization for the year		1,359		186		1,545
Impairment for the year		1,531		0		1,531
Balance as of Dec. 31, 2022		4,222		536		4,758

Carrying amount


€ thousand	Development costs		Software and licenses		Total
Carrying amount as of Dec. 31, 2020		17,795		89		17,884
Carrying amount as of Dec. 31, 2021		19,545		424		19,969
Carrying amount as of Dec. 31, 2022		17,678		380		18,058

During the year ended December 31, 2022, development costs in the amount of €18,019 thousand (2021: €17,830 thousand, 2020: €6,203 thousand) were recognized as an expense since the criteria set out in IAS 38.57 were not met. Of the total amount of €18,986 thousand (2021: €20,675 thousand, 2020: €14,449 thousand), development costs of €967 thousand (2021: €2,845 thousand, 2020: €8,248 thousand) were capitalized.

Capitalized development costs

The Group mainly capitalized development costs for the development of the CONDOR MEO in the year ended December 31, 2022. However, the CONDOR MEO technology was subsequently impaired in the amount of

€1,531 thousand. In the year ended December 31, 2021, the group capitalized costs for the development of the basic SPACE technology, which represent the technological foundation for the CONDOR products, as well as for the development of the CONDOR MEO.

The further development of the CONDOR MEO technology is since October 2022 under

re-evaluation.

The development of this adaption of the CONDOR technology was developed in connection with a customer’s contract. This contract was breached by the customer and therefore terminated by Mynaric. In this context, Mynaric

re-evaluated

the scenarios regarding the technology’s future and the completion of the development of the CONDOR MEO product variant. Result of the

re-evaluation

was to focus the currently available resources on the other products and to prioritize the completion of the development of these existing products and ramp up their serial production. Subsequently, the total capitalized costs in the amount of €1,531 thousand were impaired.

In year ended December 31, 2022, finance expenses in the amount of €56 thousand (2021: €79 thousand, 2020: €1,010 thousand) were capitalized as the cost of the development projects in accordance with IAS 23.

The development activities for the basic technology Space were completed in March 2021. The amortization of the associated capitalized development costs for Space technology started on March 1, 2021, applying the useful life of 15 years.

The carrying amounts of the capitalized development projects were as follows:


€ thousand	Space		Air		CONDOR MEO		Total
Carrying amount as of Dec. 31, 2020		13,552		4,243		0		17,795
Carrying amount as of Dec. 31, 2021		15,072		3,965		508		19,545
Carrying amount as of Dec. 31, 2022		13,998		3,681		0		17,678

The remaining useful life of the capitalized development projects were as follows:

in years

Space

Air

CONDOR MEO

Remaining useful life as of Dec. 31, 2020

n/a

14.5

n/a

Remaining useful life as of Dec. 31, 2021

14.2

13.5

n/a

Remaining useful life as of Dec. 31, 2022

13.2

12.5

n/a

Impairment test of capitalized development costs

Management identified events that might trigger an impairment for the Space and Air base technology, mainly due to the facts that sales revenues have delayed to later years as compared to last year’s planning.

The recoverable amount of the intangible assets is based on fair value less costs of disposal, estimated using discounted cash flows. The fair value measurement was categorized as a Level 3 fair value based on the inputs in the valuation technique used.

The key assumptions for determining the fair value less costs of disposal are the discount rates, expected number of sold terminals and the respective selling prices and direct costs during the period. Management estimates discount rates using

post-tax

rates that reflect current market assessments of the time value of money and the risks specific to each CGU, which are identical to the report segments. The Company prepares cash flow forecasts derived from the most recent financial budgets approved by management for the next 5 years and extrapolates these cash flows. Management estimates the cash flows generated by the sale of terminal equipment based on internal expectations, which in turn are based in part on external market studies, expected profits in tendered projects from private and public customers, and potential new business areas. The planned costs consider the number of terminals expect to be sold and the general growth of other operating expenses and estimated price increases.

The Company uses

post-tax discount rates of 19.07% for both segment

CGU

(2021: 17.66% for both CGUs, 2020: 17.25% for both CGUs) based on the historical industry weighted average cost of capital, with a possible debt leveraging of 14.6% (2021: 17.0%, 2020: 25.1%), a market premium of 7.5% (2021: 8%, 2020: 8%) and a risk premium of 10.0% (2021: 11%, 2020: 10%).

Personnel costs - Summary of Personnel Costs (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Employee Benefit Expenses [Abstract]
Wages and salaries	€ 26,318	€ 18,185	€ 13,585
Share based payments	6,133	1,942	1,125
Social security contributions, pensions, and other employee benefits	4,959	3,238	2,124
Total	€ 37,410	€ 23,365	€ 16,834

Inventories - Summary of break-down of inventories is presented (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Raw materials and supplies	€ 10,851	€ 6,665
Work in progress	2,058	1,183
Finished goods	439	551
Total	€ 13,348	€ 8,399

Revenue

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Revenue

Revenues from contracts with customers refer to the delivery of goods or the provision of services. They are recognized both at a point in time and, partially, over time. The deliveries comprise the sales of HAWK and CONDOR terminals. Services mainly consist of the provision of development and training services relating to the laser terminals manufactured by the Company.

Revenue is broken down as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Products		1,783		554		559
Services		0		1,801		120
Operating lease income		50		0		0
Other		2,589		0		0
Total		4,422		2,355		679

One customer breeched two contracts and therefore, the Group terminated these contracts. The Group has received

non-refundable

prepayments on these contracts during the years ended December 31, 2021, and 2022 in the amount of €2,589 thousand. This amount was recognized as revenue according to IFRS 15.15 b) in the year ended December 31, 2022.

Revenue recognized from contract liabilities which existed as of December 31, 2021, amounts to €211 thousand in fiscal 2022 (2021: €933 thousand, 2020: €0).

The Company makes use of the exemption according to IFRS 15.122 regarding the disclosure of the expected revenues for outstanding performance obligations as of December 31, 2022, as all revenues will be recognized within one year.

Right-of-use Assets - Summary of Undiscounted Potential Future Lease Payments From The Exercise of Extension Options (Detail) € in Thousands	Dec. 31, 2022 EUR (€)
Disclosure of Maturity Analysis of Future Lease Payments from the Exercise of Extension Options [Line Items]
Extension options that are not expected to be exercised	€ 9,108
Within five years [member]
Disclosure of Maturity Analysis of Future Lease Payments from the Exercise of Extension Options [Line Items]
Extension options that are not expected to be exercised	1,246
Over five years [member]
Disclosure of Maturity Analysis of Future Lease Payments from the Exercise of Extension Options [Line Items]
Extension options that are not expected to be exercised	€ 7,862

Consolidated Statements of Financial Position - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non-current assets
Intangible assets	€ 18,058	€ 19,969
Right-of-use assets	8,782	8,827
Property, plant and equipment	22,309	16,768
Equity-accounted investees	355	0
Other non-current financial assets	449	411
Total Non-current assets	49,953	45,975
Current assets
Inventories	13,348	8,399
Trade receivables	1,101	0
Other financial and non-financial assets	5,681	5,512
Cash and cash equivalents	10,238	48,143
Total current assets	30,368	62,054
TOTAL ASSETS	80,321	108,029
Equity
Share capital	5,668	5,243
Capital reserve	189,269	172,622
Accumulated deficit	(166,549)	(92,767)
Accumulated other comprehensive income/(loss)	(595)	(184)
TOTAL EQUITY	27,793	84,914
Non-current liabilities
Provisions	217	211
Non-current lease liabilities	7,087	7,389
Other financial liabilities	249	0
Deferred tax liability	1,766	1,791
Total non-current liabilities	9,319	9,391
Current liabilities
Provisions	723	1,023
Current lease liabilities	1,855	1,638
Trade and other payables	9,238	8,396
Contract liabilities	205	307
Other financial liabilities	14,530	37
Other non-financial liabilities	16,658	2,323
Total current liabilities	43,209	13,724
Total liabilities	52,528	23,115
TOTAL EQUITY AND LIABILITIES	€ 80,321	€ 108,029

Equity-Accounted Investees - Additional Information (Detail) - EUR (€)	Jul. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Investments Accounted For Using Equity Method [Line Items]
Share capital		€ 5,668,000	€ 5,243,000
UNIO Enterprise GmbH [member] \| Investments accounted for using equity method [member] \| Joint Venture Agreement [member]
Disclosure Of Investments Accounted For Using Equity Method [Line Items]
Share capital	€ 25,000
Proportion of ownership interest in joint venture	25.00%

Other Financial and Non-Financial Assets - Summary of Other Financial and Non-Financial Assets (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Non-Financial Assets	€ 5,461	€ 5,369
Current Financial Assets	220	143
Total	5,681	5,512
Non-current Non-Financial Assets	0	0
Non-current Financial Assets	449	411
Total	449	411
Tax receivables
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Non-Financial Assets	2,166	2,175
Non-current Non-Financial Assets	0	0
Prepaid expenses
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Non-Financial Assets	2,238	2,041
Non-current Non-Financial Assets	0	0
Advance payments
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Non-Financial Assets	625	1,025
Non-current Non-Financial Assets	0	0
Other
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Non-Financial Assets	432	128
Current Financial Assets	0	48
Non-current Non-Financial Assets	0	0
Non-current Financial Assets	0	0
Receivables from employees
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Financial Assets	48	95
Non-current Financial Assets	0	0
Security deposits
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Financial Assets	0	0
Non-current Financial Assets	449	411
Embedded derivative
Disclosure of Detailed Information About Other Financial andNonFinancialAssets [Line Items]
Current Financial Assets	172	0
Non-current Financial Assets	€ 0	€ 0

Governing bodies of the Company

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Governing bodies of the Company

35.	Governing bodies of the Company

The Management Board consists of the following members:

•

Bulent Altan,

Co-CEO,

Master of Science in Aerospace, Playa Vista, California

•

Mustafa Veziroglu,

Co-CEO,

Master of Business Administration, Monte Sereno, California, USA (since August 2022)

•

Stefan

Berndt-von

Bülow, CFO, graduate in business administration, Tutzing

•

Joachim Horwath, CTO, Dipl,-Ing, Gilching

The Supervisory Board consists of the following members:

•

Dr, Manfred Krischke, Chairman, CEO of Cloudeo AG

•

Peter Müller-Brühl, Deputy Chairman, COO of GreenCom Networks AG

•

Steve Geskos, member of the Supervisory Board, Managing Director Rose Park Advisors

•

Hans Königsmann, member of the Supervisory Board, Former vice president of flight reliability at SpaceX

•

Vincent Wobbe, member of the Supervisory Board, Head of Public Markets Investments Apeiron Investment Group

Segment reporting and information on geographical areas - Summary of Operating Segments (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of operating segments [line items]
Revenue	€ 4,422	€ 2,355	€ 679
Operating profit/loss	(73,790)	(42,364)	(19,257)
Interest and similar expenses	2,545	2,148	0
Net foreign currency gain / (loss)	2,574	826	(531)
Net finance costs	29	(1,322)	(513)
Share of profit of equity-accounted investees, net of tax	(45)	0	0
Profit/loss before tax	(73,806)	(43,686)	(19,770)
Income tax expense	(24)	1,791	0
Consolidated net profit/loss	(73,782)	(45,477)	(19,770)
Interest and similar income	0	0	18
Air
Disclosure of operating segments [line items]
Revenue	1,384	0	589
Operating profit/loss	(20,929)	(10,793)	(6,423)
Space
Disclosure of operating segments [line items]
Revenue	3,038	2,355	90
Operating profit/loss	(46,773)	(30,082)	(12,391)
Not allocated
Disclosure of operating segments [line items]
Revenue	0	0	0
Operating profit/loss	(6,088)	(1,489)	(443)
Group
Disclosure of operating segments [line items]
Revenue	4,422	2,355	679
Operating profit/loss	(73,790)	(42,364)	(19,257)
Interest and similar expenses	(2,545)	(2,148)
Net foreign currency gain / (loss)	2,574	826	(531)
Net finance costs	29	(1,322)	(513)
Share of profit of equity-accounted investees, net of tax	(45)
Profit/loss before tax	(73,806)	(43,686)	(19,770)
Income tax expense	24	(1,791)	0
Consolidated net profit/loss	€ (73,782)	€ (45,477)	(19,770)
Interest and similar income			€ 18

Trade Receivables - Summary of Receivables Result from Contracts with Customers (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Text Block [Abstract]
Trade receivables	€ 1,101	€ 0

Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Property, Plant, and Equipment

18.	Property, Plant, and Equipment

Cost


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Balance as of Jan. 1, 2020		1,180		2,099		865		472		4,616
Exchange rate differences		-5		0		-12		0		-17
Additions		81		1,790		1,977		3,277		7,125
Reclassifications		0		542		490		-1,032		0
Disposals		0		-128		-169		0		-297
Balance as of Dec. 31, 2020		1,256		4,303		3,151		2,717		11,426
Exchange rate differences		49		0		34		23		107
Additions		1,107		2,437		2,654		2,397		8,594
Reclassifications		562		2,014		311		-2,887		0
Disposals		-8		0		-283		0		-291
Balance as of Dec. 31, 2021		2,966		8,754		5,867		2,250		19,838
Exchange rate differences		70		-9		41		22		124
Additions		438		1,239		2,356		4,743		8,776
Reclassifications		136		4,331		105		-4,572		0
Disposals		0		-1		-261		-60		-322
Balance as of Dec. 31, 2022		3,610		14,314		8,108		2,383		28,415

Depreciation


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Balance as of Jan. 1, 2020		86		458		232		0		776
Depreciation for the year		120		288		415		0		823
Disposals		0		-116		-131		0		-247
Balance as of Dec. 31, 2020		206		630		516		0		1,352
Exchange rate differences		4		0		2		0		7
Depreciation for the year		304		773		916		0		1,994
Disposals		0		0		-283		0		-283
Balance as of Dec. 31, 2021		514		1,403		1,151		0		3,070
Exchange rate differences		1		0		4		0		5
Depreciation for the year		526		1,419		1,309		0		3,254
Disposals		0		-2		-219		0		-221
Balance as of Dec. 31, 2022		1,041		2,820		2,245		0		6,106

Carrying amount


€ thousand	Land and buildings		Machinery		Other plant, furniture, fixtures, and office equipment		Construction in progress		Total
Carrying amount as of Dec. 31, 2020		1,050		3,673		2,635		2,717		10,075
Carrying amount as of Dec. 31, 2021		2,452		7,351		4,716		2,250		16,768
Carrying amount as of Dec. 31, 2022		2,569		11,494		5,863		2,383		22,309

Investments in property, plant, and equipment made during the year ended December 31, 2022, in the amount of €8,776 thousand (2021: €8,594, 2020: €7,125) referred primarily to the expansion of production capacities. Other investments were made in IT infrastructure and office equipment.

During the year ended December 31, 2022, finance expenses in the amount of €32 thousand (2021: €154 thousand, 2020: €45 thousand) were recorded as the cost of property, plant, and equipment in accordance with IAS 23.

Other operating income (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Other Operating Income

The following table shows the breakdown of the other operating income:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Income from grants		2,091		279		295
Income from the reversal of liabilities		0		90		0
Income from related parties		0		27		0
Other		285		39		0
Total		2,376		435		295

Related Party Disclosures

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Related Party Disclosures

32. Related Party Disclosures

In accordance with IAS 24 (Related Party Disclosures), persons or companies which are influenced by the reporting entity or which can exert influence on the reporting entity must be disclosed unless such parties are already included in the consolidated financial statements as a consolidated company. Key management personnel consist of the members of the Management and the Supervisory boards.

32.1.

Related party transactions

The following entities are deemed to be related parties of the Company:

•

MCConsult Dr. Peschko, Gilching (previously: Adelanto management services s.I.)

•

Pinsent Masons LLP, Munich

•

Apeiron Investment Group Ltd.

•

Apeiron Advisory Ltd.

MCConsult Dr. Peschko, Gilching (previously: Adelanto management services s.I.)

MCConsult Dr. Peschko is a company owned by Dr. Wolfram Peschko, a former Management Board member who resigned in fiscal year 2020, which provides advisory services for the Company. During the year ended December 31, 2022, related party expenses involving MCConsult Dr. Peschko amounted to €93 thousand. As of December 31, 2022, the Group does not have any outstanding liabilities due to MCConsult Dr. Peschko.

Pinsent Masons LLP

Pinsent Masons LLP is a law firm in which Mr. Mayrhofer, a former member of the Supervisory Board who resigned in fiscal year 2020, is a partner which provides legal advisory services for the companies of the Group. During the year ended December 31, 2022, related party expenses involving Pinsent Masons LLP amounted to €5 thousand. As of December 31, 2022, the Group does not have any outstanding liabilities due to Pinsent Masons LLP.

Apeiron Investment Group Ltd.

Apeiron Investment Group Ltd. (“Apeiron”), a shareholder of Mynaric AG, and Bulent Altan, the Chief Executive Officer and a member of the management board of Mynaric AG, entered into an option agreement, dated August 13, 2019 (as amended), under which Apeiron granted Mr. Altan the right to acquire 56,700

no-par

value bearer shares of the Company at a price of €25.00 per share (the “Altan Option Agreement”). Under the Altan Option Agreement, Mr. Altan was initially entitled to exercise the option during a four-week exercise period following written notice by Apeiron that certain conditions precedent under the agreement have been met (the “Initial Exercise Period”). While the Initial Exercise Period would have expired in December 2020, Apeiron and Mr. Altan agreed to extend the exercise period under the Altan Option Agreement to December 31, 2022. The option was not exercised.

Apeiron Advisory Ltd.

Apeiron Advisory Ltd. (“Apeiron”), Sliema, Malta, and the Mynaric AG have concluded a contract as of March 25, 2022. According to the contract, Apeiron will provide the Group with political and strategic advisory, supporting its management team in building a relevant network of decision makers, thought leaders and institutional investors, as well as navigating government and international affairs. Vincent Wobbe, member of the Group’s supervisory board, is considered a related party due to his employment with the Apeiron Investment Group Ltd. As of December 31, 2022, the Group recognized expenses in the amount of €480 thousand and a liability in the amount of €30 thousand.

32.2.

Remuneration for members of the Management Board

The Supervisory Board determines the total remuneration for members of the Management Board. It also reviews and resolves upon the remuneration system as well as the appropriateness of the total compensation of the respective Management Board members, including the significant contractual elements.

The objective of the remuneration of the Management Board is to provide an adequate compensation for personal performance – considering the Company’s economic performance – and to provide an incentive for successful corporate governance. In this context, the remuneration is in line with the Company’s size as well as industry- and country-specific standards.

The remuneration for Management Board members consists of three components:

•

non-performance-related

remuneration (fixed remuneration),

•

performance-related bonuses,

•

and stock options.

The overall remuneration for the members of the Management Board comprises approximately 40% in fixed remuneration and 60% in performance-related remuneration in the event of 100% target achievement.

Non-performance-related

remuneration

The fixed,

non-performance-related

remuneration comprises the basic remuneration and fringe benefits that may vary over the years, depending on the person involved or the occurrence of certain events.

The amount of the fixed remuneration depends on delegated functions and responsibilities as well as the general conditions customary to the industry and the market. These conditions relate primarily to other listed small- and

medium-sized

companies from the technology industry and related sectors. The fixed remuneration is paid in monthly installments.

Fringe benefits mainly include expenses for company housing for members of the Management Board. Members also receive taxable

in-kind

benefits.

Performance-related remuneration

The performance-related remuneration comprises two components: the first is agreed upon with the Supervisory Board on an annual basis, and the second is a strategic special component.

The component agreed upon with the Supervisory Board on an annual basis generally consists of two elements based on the Company’s economic performance and achievement of the annual budget as approved by the Supervisory Board. The bonus can be a maximum of 200% in the case of overachievement.

The strategic special component is a reward for the Management Board member’s performance in acquiring strategic investors for the Company.

Stock options

The third remuneration component comprises stock options granted to selected employees in the form of stock options from Stock Option Plans 2019, 2020, 2021 and 2022, in which the Management Board members also participate. A stock option right entitles the holder to the right to purchase Company shares at the respective exercise price. The vesting period for exercise of the options is four years, starting on the grant date of such options. The options may be exercised within a period of three years after the expiration of the vesting period, provided that the performance target has been achieved.

In the context of these plans, stock options were issued to the Management Board in 2019, 2020, 2021 and 2022, which entitle the holder to subscribe to Mynaric AG shares. Detailed information about the granted stock options are presented in Note 11.

Remuneration granted

The remuneration granted to the Management Board in fiscal year 2022 is broken down as follows:


	Short-term employee benefits				Equity-settled share-based payments
Year	Basic remuneration in € thousand		Short-term variable remuneration in € thousand		Number of stock options granted		Recognized as expense in € thousand		Total in € thousand
2022		1,380		488		108,000		1,818		3,686
2021		713		113		100,000		332		1,158

The chairman of the Management Board, Bulent Altan, received remuneration for his activities as CEO of the subsidiary Mynaric USA Inc., which is already included in the remuneration granted and paid. The other Management Board members did not receive any remuneration during their term for their activities in a subsidiary.

32.3.

Supervisory Board remuneration

The remuneration system of the Supervisory Board is based on the Company’s size, the duties and responsibilities of the Supervisory Board members, and the Company’s economic situation and expected future development. The remuneration of the Supervisory Board is governed by section 14 of the Company’s Articles of Association, which was amended on the Annual General Meeting on July 14, 2022. Accordingly, the Supervisory Board members receive a fixed annual remuneration, payable after the end of the fiscal year. The remuneration amounts to €60,000.00 per year, with the chairman receiving twice that amount and the deputy chairman receiving one and a half times this amount. An attendance fee of €500.00 are paid for Supervisory Board meetings. Supervisory Board members who are also members of the Audit Committee shall receive a remuneration in the amount of € 20,000.00 for each full financial year of membership of the Audit Committee in addition to the remuneration for their activities on the Supervisory Board as member, Chairman or Deputy Chairman. The Chairman of the Audit Committee shall receive one and a half times the remuneration. Members of the Supervisory Board receive reimbursement for their

out-of-pocket

expenses, however, as well as reimbursement of the value-added tax on their remuneration and

out-of-pocket

expenses. In addition, the Company bears the costs of D&O liability insurance for the Supervisory Board members. The Company does not grant any loans to the Supervisory Board members.

The annual remuneration for the Supervisory Board is as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Dr. Manfred Krischke		151		80		40
Peter Müller-Brühl		121		50		20
Steve Geskos		101		32		0
Wincent Wobbe		67		19		0
Hans Koenigsmann		66		12		0
Dr. Gerd Gruppe		0		39		30
Thomas Hanke		0		16		11
Dr. Thomas Billeter		0		15		20
Thomas Mayrhofer		0		0		9
Total		506		263		130

Shareholdings of management and supervisory board members

Based on available information, the board members have the following shareholdings:


Number of shares	December 31, 2022		December 31, 2021		Change
Peter Müller-Brühl		4,445		4,445		0
Joachim Horwath		220,527		220,527		0
Bulent Altan		1,136		1,136		0
Stefan Berndt-von Bülow		174		174		0

Financial Instruments And Financial Risk Management - Summary Of Sensitivity Analysis Of Fair Value Measurement To Changes In Unobservable Inputs, Assets (Parenthetical) (Detail) - Prepayment Option of the Loan [Member]	Dec. 31, 2022
Interest rate, measurement input [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Percentage of reasonably possible increase in unobservable input, assets	5.00%
Percentage of reasonably possible decrease in unobservable input, assets	5.00%
Credit spread, measurement input [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Percentage of reasonably possible increase in unobservable input, assets	1.00%
Percentage of reasonably possible decrease in unobservable input, assets	1.00%

Intangible Assets - Summary of Detailed Information About Carrying Amount of Intangible Assets Other Than Goodwill (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Carrying amount	€ 18,058	€ 19,969
Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	17,678	19,545	€ 17,795
Carring Amount One [Member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	18,058	19,969	17,884
Carring Amount One [Member] \| Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	17,678	19,545	17,795
Carring Amount One [Member] \| Software And Licenses [member]
Disclosure of detailed information about intangible assets [line items]
Carrying amount	€ 380	€ 424	€ 89

Financial Instruments And Financial Risk Management

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Financial Instruments And Financial Risk Management

33.	Financial Instruments and Financial Risk Management

33.1.

Financial instruments

The financial instruments were allocated to the following categories:


	December 31, 2022				December 31, 2021
€ thousand	Current		Non-current		Current		Non-current
Financial Assets (AC)
Other financial assets		48		449		143		411
Cash and cash equivalents		10,238		0		48,143		0
Trade receivables		1,101		0		0		0
Total		11,387		449		48,286		411
Financial Assets (FVTPL)		172		0		0		0
Total Financial Assets		11,559		449		48,286		411
Financial Liabilities (FLAC)
Trade and other payables		9,238		0		8,396		0
Lease liabilities		1,855		7,087		1,638		7,389
Other Financial Liabilities		14,530		249		37		0
Total Financial Liabilities		25,623		7,336		10,071		7,389

For other financial assets of the AC category, trade receivables, and cash and cash equivalents, it is assumed that their carrying amounts correspond to their fair values due to their short terms.

The carrying amount of

non-current

financial assets of the category AC approximates the fair value. These include bank balances and

non-interest-bearing

security deposits. The carrying amount approximates the fair value.

The carrying amount of current financial liabilities in the category FLAC, such as trade payables and other financial liabilities, corresponds to the fair value due to their short terms.

The carrying amount of

non-current

financial liabilities in the category FLAC, such as other financial liabilities approximate the fair value. Any difference between the carrying amount and the fair value is immaterial due to the fact, that are contracted close to the period end and therefore, reflect the market situation at period end. The lease liabilities are discounted in accordance with the requirements set out in IFRS 16.

As of December 31, 2022, the fair value of the prepayment option of the loan amounts to €172 thousand (December 31, 2021: €0). The prepayment option is recognized as other financial asset at FVTPL and was calculated by applying an option pricing model. This model uses the risk-free interest rate, the credit spread of the group and the interest rate volatility as material input factors. The volatility is considered as material unobservable input factor (Level 3).

The table below summarizes the impact on the fair values of Level 3 instruments by changing the significant unobservable input factors.


€ thousand	December 31, 2022 Profit or loss
€ thousand	increase		decrease
Interest rate volatility (movement +/- 5%)		5		-5
Credit Spread (movement +/- 1%)		-29		29

Changes in level 3 financial instruments in 2022 are shown in the following table:


€ thousand	Fair value January 1, 2022		Additions		Disposals		Gains/(losses) recognized in financial income /expenses		Fair value December 31, 2022
Other financial and non-financial assets		—		454		0		-282		172

The net gains/losses by measurement category are as follows:


2022 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		-282


2021 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		0


2020 - € thousand			Other income and expense items, or gain and loss items
Financial assets	AC	Measured at amortized cost		0
Derivative Financial Assets	FVTPL	measured subsequently at fair value through profit or loss		0

33.2.

Financial risk management

The Group is exposed to the following risks from the use of financial instruments:

•

Credit risk (see Note 33.2 a))

•

Liquidity risk (see Note 33.2 b))

•

Market risk (see Note 33.2 c))

Principles of risk management

The Management Board of the Company is responsible for the structure and control of the Group’s risk management. For this purpose, the Management Board has appointed employees who are responsible for monitoring and developing the Group’s risk management policies. The employees submit regular reports to the Management Board about their activities. The risk management policies and the risk management systems are reviewed regularly to reflect changes in market conditions and the Group’s activities.

Capital risk management

The Group’s primary financial objectives include increasing the enterprise value on a sustained basis, ensuring solvency at all times to safeguard the Company’s ability as a going concern, and maintaining an optimal capital structure. Ensuring sufficient available liquidity is of key significance in this context. These objectives are managed by means of an integrated controlling concept, in which as part of the monthly closing process, management is provided with current indicators for various items of the financial statements and therefore also for changes in equity, and as the basis for necessary entrepreneurial decisions. The equity ratio as of December 31, 2022, was 34.6% (2021: 78.6%, 2020: 81.7%). The strong decrease of the equity ratio is due to the high consolidated net loss for the year of the financial year 2022 as well as the increase in other financial liabilities and other

non-financial

liabilities. The equity ratio was calculated as the ratio of total equity to total assets.

There have been no changes in the Group’s overall capital risk management strategy relative to 2021.

Credit risk

Credit risk is the risk of financial loss if a customer or counterparty to a financial instrument fails to meet its contractual obligations. Credit risk arises principally from the Group’s trade receivables and its cash and cash equivalents. The carrying amounts of the other financial assets and of contract assets correspond to the maximum credit risk exposure.

When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment, that includes forward-looking information. The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due.

The Group considers a financial asset to be in default when the debtor is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held) or the financial assets Is more than 90 days past due.

Impairments of financial assets are recognized in profit or loss as follows:

Trade receivables

The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, the Group’s Management Board also considers the factors that may influence the credit risk of the customer base, including the credit risk associated with the industries, countries, and regions in which the customers are operating.

Detailed disclosures concerning the concentration of revenue in particular areas/regions can be found in Note 6. Segment reporting and information on geographical areas.

The Group has a receivables management system that facilitates initial and ongoing analysis of customer creditworthiness individually. This analysis comprises external ratings, information by credit agencies (if available), industry information, and, in some cases, information provided by banks. Before the Group enters a business relationship, a salesperson has to submit this opportunity into a Sales Triage with the purpose to analyze all facets of the opportunity. Prior to entering into business relationship with a customer, a member of the sales department enters the opportunity in a “sales triage” tool which analyzes key facts of the opportunity. The Group limits its credit risk from trade receivables by determining a maximum.

The overall credit risk exposure is considered low.

Other financial assets

As of the reporting date, other

non-current

financial assets primarily include security deposits for rental agreements of the Mynaric Group. Other current financial assets include mainly receivables from suppliers.

The credit risk exposure resulting from receivables from security deposits is considered low since the deposits are hold at separate accounts restricted from usage for other purposes.

Cash and cash equivalents

The estimated loss allowance for cash and cash equivalents was calculated based upon expected losses within 12 months and reflects the short terms to maturity. As of December 31, 2022, the expected credit loss is not material and therefore was not recognized.

Liquidity risk

Liquidity risk is the risk that the Group might not be able to settle its financial liabilities as contractually agreed by delivering cash or other financial assets. The Group’s objective for liquidity management is to ensure that to the extent possible, sufficient cash funds are available at all times to be able to meet its payment obligations when due under both normal and stress scenarios, without having to bear any unsustainable losses or damage to the Group’s reputation.

The Group uses activity-based cost accounting to calculate the costs of its product and services. This enables the Group to monitor cash requirements and to optimize cash inflows on capital employed.

Prudent liquidity risk management means being able to meet obligations when due at any time and, beyond that, maintaining sufficient cash and cash equivalents for unplanned expenditures. Management applies rolling forecasts to monitor cash and cash equivalents based upon expected cash flows. This is generally done centrally for the Group.

To ensure the Group’s solvency and its ability as a going concern, Mynaric implemented an adapted profit and liquidity planning for the year 2023. To ensure the financing, the subsidiary, Mynaric USA Inc. (“Mynaric USA”), entered into a new

five-year

term loan credit agreement in the amount of

$75.0 million

and Mynaric AG received an equity investment in the amount of

€12.4 million

on April 25, 2023. For further information refer to Note 36 (“Events after the reporting date”).


	December 31, 2022
€ thousand	Carrying amount		less than 1 year		between 1 and 2 years		between 3 and 5 years		more than 5 years		Total
Trade and other payables		9,238		9,238		0		0		0		9,238
Lease liabilities		8,942		1,901		1,905		3,405		2,372		9,583
Other financial liabilities		14,779		14,628		98		180		0		14,906
Total		32,959		25,767		2,003		3,585		2,372		33,727


	December 31, 2021
€ thousand	Carrying amount		less than 1 year		between 1 and 2 years		between 3 and 5 years		more than 5 years		Total
Trade and other payables		8,396		8,396		0		0		0		8,396
Lease liabilities		9,027		1,640		1,605		3,148		3,328		9,721
Other financial liabilities		37		37		0		0		0		37
Total		17,460		10,073		1,605		3,148		3,328		18,154

Market risk

Market risk is the risk that market prices, such as exchange rates, interest rates, or share prices, can change and thus can affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable ranges, while simultaneously optimizing yield.

Currency risk

The Group is exposed to transactional foreign currency risks to the extent that currencies in which sales and purchase transactions as well as receivables and lending transactions are denominated do not correspond to the functional currency of the Group companies. The functional currencies of the Group companies are the Euro and the US dollar. The transactions mentioned above are mainly denominated in Euro, USD, RMB, GBP and CHF.

Effects of currency risk

The following is a summary of quantitative information about the Group’s currency risk exposure provided to Group management:


December 31, 2022

€ thousand	USD
Intercompany receivables		4,060
Intercompany long-term lending’s		7,500
Cash and cash equivalents		3,868
Intercompany payables		55
Trade payables		142
Other liabilities		435
Net statement of financial position exposure		14,796


December 31, 2021

€ thousand	EUR		USD
Intercompany receivables		0		4,384
Other financial assets		0		33
Cash and cash equivalents		0		32,713
Intercompany payables		6,494		503
Trade payables		0		83
Other liabilities		0		185
Net statement of financial position exposure		-6,494		36,359

Sensitivity analysis

A potential appreciation (depreciation) of EUR, USD against other currencies as of December 31 would have influenced the measurement of financial instruments denominated in foreign currency and would have affected equity and profit or loss in the amounts presented below. The analysis assumes that all other influencing factors, above all the interest rates, remain constant. The effects of the forecast sales and purchase transactions are ignored.


Effects on Group profit/loss
	2022				2021				2020
	Changes in exchange rates				Changes in exchange rates				Changes in exchange rates
€ thousand	Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%
EUR		0		0		-328		328		-262		262
USD		740		-740		1,818		-1,818		35		-35
Total		740		-740		1,490		-1,490		-227		227


Effects on Group equity
	2022				2021				2020
	Changes in exchange rates				Changes in exchange rates				Changes in exchange rates
€ thousand	Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%		Increase by 5%		Reduction by 5%
EUR		0		0		-325		325		-233		233
USD		740		-740		1,818		-1,818		35		-35
Total		740		-740		1,493		-1,493		-198		198

The following exchange rates were used:


	Average rate						Spot exchange rate as of the reporting date
	2022		2021		2020		2022		2021		2020
EUR/USD		0.95441		0.84819		0.87322		0.93756		0.88292		0.89160

Interest rate risk

As of the reporting date, the Group does have an embedded derivative related to the loan, which is included in the other financial and

non-financial

liabilities in the amount of €172 thousand (December 31, 2021: €0, December 31, 2020: €0). This derivative is exposed interest rate changes. A sensitivity analysis and their effects on the consolidated equity is disclosed in Note 33.1.

Cash and Cash Equivalents	12 Months Ended
Cash and Cash Equivalents	Dec. 31, 2022
Text Block [Abstract]
Cash and Cash Equivalents	24. Cash and Cash Equivalents As of the reporting date, the balance of cash funds amounted to €10,238 thousand (2021: €48,143 thousand, 2020: €43,198) and comprises primarily balances held with banks.

Financial Instruments And Financial Risk Management - Summary Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	€ 2,574	€ 826	€ (531)
Average foreign exchange rate	0.95441	0.84819	0.87322
Closing foreign exchange rate	0.93756	0.88292	0.8916
Effects on Group Profit Loss [member] \| Increase by 5 %
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	€ 740	€ 1,490	€ (227)
Effects on Group Profit Loss [member] \| Increase by 5 % \| EUR
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	0	(328)	(262)
Effects on Group Profit Loss [member] \| Increase by 5 % \| USD
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	740	1,818	35
Effects on Group Profit Loss [member] \| Reduction by 5%
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	(740)	(1,490)	227
Effects on Group Profit Loss [member] \| Reduction by 5% \| EUR
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	0	328	262
Effects on Group Profit Loss [member] \| Reduction by 5% \| USD
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	(740)	(1,818)	(35)
Effects on Group Equity [member] \| Increase by 5 %
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	740	1,493	(198)
Effects on Group Equity [member] \| Increase by 5 % \| EUR
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	0	(325)	(233)
Effects on Group Equity [member] \| Increase by 5 % \| USD
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	740	1,818	35
Effects on Group Equity [member] \| Reduction by 5%
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	(740)	(1,493)	198
Effects on Group Equity [member] \| Reduction by 5% \| EUR
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	0	325	233
Effects on Group Equity [member] \| Reduction by 5% \| USD
Schedule Of Sensitivity Analysis Measurement Of Financial Instruments Denominated In Foreign Currency And Would Have Affected Equity And Profit Or Loss [Line Items]
Foreign exchange gain (loss)	€ (740)	€ (1,818)	€ (35)

Income Taxes - Summary of Disclosing Information Relating to Tax Expenses (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Domestic tax rate	27.725%	27.725%

Other Financial and Non-Financial Assets (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Other Financial and Non-Financial Assets

Non-current

and current financial and

non-financial

assets comprise the following:


	December 31, 2022				December 31, 2021
€ thousand	Current		Non-current		Current		Non-current
NON-FINANCIAL ASSETS
Tax receivables		2,166		0		2,175		0
Prepaid expenses		2,238		0		2,041		0
Advance payments		625		0		1,025		0
Other		432		0		128		0
Total		5,461		0		5,369		0
FINANCIAL ASSETS
Security deposits		0		449		0		411
Receivables from suppliers		48		0		95		0
Embedded derivative		172		0		0		0
Other		0		0		48		0
Total		220		449		143		411
Total		5,681		449		5,512		411

Related Party Disclosures - Summary of Annual Remuneration For The Supervisory Board (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Total remuneration	€ 506	€ 263	€ 130
Dr.Manfred Krischke [member]
Disclosure of transactions between related parties [line items]
Total remuneration	151	80	40
Peter Müller-Brühl [member]
Disclosure of transactions between related parties [line items]
Total remuneration	121	50	20
Dr.Gerd Gruppe [member]
Disclosure of transactions between related parties [line items]
Total remuneration	0	39	30
Steve Geskos [member]
Disclosure of transactions between related parties [line items]
Total remuneration	101	32	0
Wincent Wobbe [member]
Disclosure of transactions between related parties [line items]
Total remuneration	67	19	0
Thomas Hanke [member]
Disclosure of transactions between related parties [line items]
Total remuneration	0	16	11
Dr.Thomas Billeter [member]
Disclosure of transactions between related parties [line items]
Total remuneration	0	15	20
Hans Koenigsmann Member [member]
Disclosure of transactions between related parties [line items]
Total remuneration	66	12	0
Thomas Mayrhofer [member]
Disclosure of transactions between related parties [line items]
Total remuneration	€ 0	€ 0	€ 9

Inventories

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Inventories

21. Inventories

The break-down of inventories is presented in the table below:


€ thousand	December 31, 2022		December 31, 2021
Raw materials and supplies		10,851		6,665
Work in progress		2,058		1,183
Finished goods		439		551
Total		13,348		8,399

During the year ended December 31, 2022, inventories of €13,378 thousand (2021: €7,964 thousand, 2020: €2,352 thousand) were recognized as a cost during the year.

During the years the Company recognized the following write-downs of inventory:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Write downs of raw material and supplies		-5,601		-2,039		0
Write downs of work in progress		-1,225		-397		-120
Write downs of finished goods		-657		-65		0
Total		-7,483		-2,501		-120

DOR Mk

2. The corresponding raw materials were written down to their recoverable amount. The write-downs for the year ended December 31, 2020, referred to the inventories for the Hawk Air Terminals.

Cash and Cash Equivalents - Additional Information (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Text Block [Abstract]
Cash and cash equivalents	€ 10,238	€ 48,143	€ 43,198	€ 8,914

Trade and Other Payables

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Trade and Other Payables

28. Trade and Other Payables

The following table shows the breakdown of the trade and other payables:


€ thousand	December 31, 2022		December 31, 2021
Trade payables		4,222		4,377
Other accruals		5,016		4,019
Total		9,238		8,396

Financial Instruments And Financial Risk Management - Additional Information (Detail) € in Thousands, $ in Millions			12 Months Ended
	Apr. 25, 2023 EUR (€)	Apr. 01, 2023	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Apr. 25, 2023 USD ($)
Financial Instruments and Financial Risk Management [Line Items]
Fair value of the prepayment option of the loan			€ 172	€ 0
Proceeds from issuing shares			11,201	66,542	€ 65,143
Liabilities			€ 52,528	€ 23,115
Term loan [Member] \| Non adjusting events after reporting period \| Mynaric USA [Member]
Financial Instruments and Financial Risk Management [Line Items]
Borrowings \| $						$ 75.0
Borrowings, maturity		five-year
Proceeds from issuing shares	€ 12,400
Capital Risk [member]
Financial Instruments and Financial Risk Management [Line Items]
Equity ratio			34.60%	78.60%	81.70%
Interest rate risk [member] \| Loan Embedded Derivative [Member]
Financial Instruments and Financial Risk Management [Line Items]
Liabilities			€ 172	€ 0	€ 0

Other Non-Financial Liabilities - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
Liabilities due to customers payments recognized	€ 15,984	€ 1,888	€ 0
Liabilities due to customers revenue recognized	€ 2,661	€ 0	€ 0

Basis of Consolidation and Accounting Policies - Summary of Nature and Timing of Satisfication of Performance Obligation in Contract with Customers (Detail)	12 Months Ended
	Dec. 31, 2022
Sale of products
Disclosure of performance obligations [line items]
Nature and timing of satisfaction of performance obligation including significant payment terms	Customers obtain control of the laser terminals when the goods are delivered and accepted by the customer. Invoices are generated at that point in time. Invoices are usually payable within 10 to 60 days.
Revenue recognition policies	Revenue is recognized at point in time when the customer obtains control over the good. Generally, this happens, when the good is delivered at the place agreed in the customer agreement. Advances received are presented as contract liabilities.
Training-, support and other services
Disclosure of performance obligations [line items]
Nature and timing of satisfaction of performance obligation including significant payment terms	The Company provides training, support and other services to its customers. The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs. Invoices for these services are either issued based on the agreed payment plan of the respective contract or after the completion of the services. Invoices are usually payable within 30 days.
Revenue recognition policies	Revenue is recognized over time based on the cost-to-cost method unless they are not relevant for satisfaction of performance obligation. Advances received are included in contract liabilities.

Consolidated Statements of Profit/Loss and Other Comprehensive Income/Loss - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of profit or loss and other comprehensive income [abstract]
Revenue	€ 4,422	€ 2,355	€ 679
Other operating income	2,376	435	295
Cost of materials of which capitalized costs 2022: (689); 2021: (1,995); 2020: (4,073)	(15,434)	(10,624)	(6,221)
Personnel costs of which capitalized costs 2022: (665); 2021: (1,906); 2020: (3,921)	(37,410)	(23,365)	(16,834)
Depreciation, amortisation and impairment of which capitalized costs 2022: (112); 2021: (287); 2020: (802)	(7,989)	(4,518)	(1,843)
Other operating costs of which capitalized costs 2022: (101); 2021: (427); 2020: (579)	(22,082)	(11,830)	(5,345)
Change in inventories of finished goods and work in progress	760	568	637
Own work capitalized	1,567	4,615	9,375
Operating profit/(loss)	(73,790)	(42,364)	(19,257)
Interest and similar income	0	0	18
Interest and similar expenses	(2,545)	(2,148)	0
Net foreign exchange gain / (loss)	2,574	826	(531)
Net finance income/(costs)	29	(1,322)	(513)
Share of profit of equity-accounted investees, net of tax	(45)	0	0
Profit/(loss) before tax	(73,806)	(43,686)	(19,770)
Income tax expense	24	(1,791)	0
Consolidated net profit/(loss)	(73,782)	(45,477)	(19,770)
Items which may be subsequently reclassified to profit and loss
Foreign operations – foreign currency translation differences	(411)	(498)	367
Other comprehensive income/(loss) for the period after tax	(411)	(498)	367
Total comprehensive (loss) for the period	€ (74,193)	€ (45,975)	€ (19,403)
Weighted average ordinary shares outstanding (basic and diluted)	5,435,839	4,250,134	3,349,403
Basic and diluted loss per share in EUR	€ (13.57)	€ (10.7)	€ (5.9)

Other operating income

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Other operating income

7.	Other operating income

The following table shows the breakdown of the other operating income:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Income from grants		2,091		279		295
Income from the reversal of liabilities		0		90		0
Income from related parties		0		27		0
Other		285		39		0
Total		2,376		435		295

Intangible Assets - Summary of Detailed Information About Useful Life Carrying Amounts of the Capitalized Development Projects (Detail)		12 Months Ended
	Mar. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Remaining useful life	15 years
Capitalised development expenditure [member] \| Space Base Technology [member]
Disclosure of detailed information about intangible assets [line items]
Remaining useful life		13 years 2 months 12 days	14 years 2 months 12 days
Capitalised development expenditure [member] \| Air Base Technology [member]
Disclosure of detailed information about intangible assets [line items]
Remaining useful life		12 years 6 months	13 years 6 months	14 years 6 months

Depreciation, Amortization and Impairment (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Depreciation, Amortization and Impairment

Amortization, depreciation and impairment are summarized as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Amortization of intangible assets		1,545		1,267		215
Impairment of intangible assets		1,531		0		0
Depreciation of property, plant, and equipment		3,254		1,994		823
Depreciation of right-of-use assets		1,659		1,257		805
Total		7,989		4,518		1,843

Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Earnings Per Share

Earnings per share were as follows:


	for the years ended
	December 31, 2022		December 31, 2021		December 31, 2020
Consolidated net profit/loss in € thousand		-73,782		-45,477		-19,770
Weighted-average number of ordinary shares, basic and diluted		5,435,839		4,250,135		3,349,403
Basic and diluted earnings per share in €		-13.57		-10.70		-5.90

Other Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Financial Liabilities [Abstract]

Summary Of Other Financial Liabilities

The current other financial liabilities comprise the following:


€ thousand	December 31, 2022		December 31, 2021
Loan Agreement		14,440		0
Other financial liabilities		339		37
Total		14,779		37
thereof non-current
Other financial liabilities		249		0
Total		249		0

Net Finance Costs - Summary of Borrowing Costs (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Borrowing costs [abstract]
Total finance expenses	€ 2,632	€ 2,381	€ 1,055
Thereof capitalized as the cost of
Development projects	56	79	1,010
Construction in progress	€ 32	€ 154	€ 45
Capitalization rate p.a.	9.08%	22.06%	10.69%

Right-of-use Assets - Additional Information (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of quantitative information about right-of-use assets [line items]
Cash outflow for leases	€ 1,942	€ 1,241	€ 816
Bottom of range [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lessee operating lease term of contract	5 years
Bottom of range [member] \| Machinery [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lessee operating lease term of contract	10 years
Term of rental contract	4 years
Top of range [member] \| Machinery [member]
Disclosure of quantitative information about right-of-use assets [line items]
Lessee operating lease term of contract	15 years
Term of rental contract	6 years
Top of range [member] \| Real Estate Leases [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Lessee operating lease term of contract	10 years
Los Angeles USA And Washington DC USA [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Additions to right-of-use assets	€ 1,438	€ 1,995	€ 2,004

Contract Liabilities - Additional Information (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Contract Liabilities [Abstract]
Contract liabilities	€ 205	€ 307

Provisions - Summary of Provisions (Detail) € in Thousands	12 Months Ended
Provisions - Summary of Provisions (Detail) € in Thousands	Dec. 31, 2022 EUR (€)
Current Provisions
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	€ 1,234
Utilization	0
Reversals	315
Additions	23
FX	(2)
Dec. 31, 2021	940
Current Provisions \| Litigation
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	783
Utilization	0
Reversals	75
Additions	0
FX	0
Dec. 31, 2021	708
Current Provisions \| Asset retirement obligations
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	206
Utilization	0
Reversals	0
Additions	0
FX	(2)
Dec. 31, 2021	204
Current Provisions \| Onerous contracts
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	240
Utilization	0
Reversals	240
Additions	0
FX	0
Dec. 31, 2021	0
Current Provisions \| Other
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	5
Utilization	0
Reversals	0
Additions	23
FX	0
Dec. 31, 2021	28
Non Current Provisions
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	211
Utilization	0
Reversals	0
Additions	8
FX	(2)
Dec. 31, 2021	217
Non Current Provisions \| Asset retirement obligations
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	206
Utilization	0
Reversals	0
Additions	0
FX	(2)
Dec. 31, 2021	204
Non Current Provisions \| Other
Disclosure Of Detailed Information About Provisions Explanatory [Line Items]
Jan. 1, 2021	5
Utilization	0
Reversals	0
Additions	8
FX	0
Dec. 31, 2021	€ 13

Net Finance Costs

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Net Finance Costs

14.	Net Finance Costs

The financial result is calculated as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
FINANCIAL INCOME
Other interest income from loans and receivables		0		0		18
Total		0		0		18
FINANCIAL EXPENSES
Interest and similar expenses on loans		-2,403		-2,196		-918
Interest on lease obligations		-229		-185		-137
Borrowing costs capitalized in accordance with IAS 23		87		233		1,055
Total		-2,545		-2,148		0
Net foreign exchange gain (loss)		2,574		826		-531
Total		29		-1,322		-513

Borrowing costs capitalized as the cost in accordance with IAS 23 are as follows:


	For the years ended
€ thousand	December 31, 2022			December 31, 2021			December 31, 2020
Total finance expenses		2,632			2,381			1,055
Thereof capitalized as the cost of
Development projects		56			79			1,010
Construction in progress		32			154			45
Capitalization rate p.a.		9.08	%		22.06	%		10.69	%

Trade Receivables (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Receivables Result from Contracts with Customers

As of December 31, 2022, all trade receivables are denominated in US dollars. The maximum default risk for receivables is their carrying amount. All receivables result from contracts with customers.


€ thousand	December 31, 2022		December 31, 2021
Trade receivables		1,101		0
Total		1,101		0

Segment reporting and information on geographical areas (Tables)

12 Months Ended

Dec. 31, 2022

Statement [Line Items]

Summary of Operating Segments

The Air segment includes the Company’s HAWK AIR terminals and related services. The Space segment includes the Company’s CONDOR terminals and related services.


	For the year ended December 31, 2022
€ thousand	Air		Space		Not allocated			Group
Revenue		1,384		3,038		0			4,422
Operating profit/loss		-20,929		-46,773		-6,088	2		-73,790
Interest and similar expenses									-2,545
Net foreign currency gain / (loss)									2,574
Net finance costs									29
Share of profit of equity-accounted investees, net of tax									-45
Profit/loss before tax									-73,806
Income tax expense									24
Consolidated net profit/loss									-73,782

2	Including costs for the D&O insurance related the stock listing (€4,715 thousand), the audit of the financial statements (€951 thousand) as well as Supervisory Board remuneration (€422 thousand) which are not directly incremental.


	For the year ended December 31, 2021
€ thousand	Air		Space		Not allocated			Group
Revenue		0		2.355		0			2.355
Operating profit/loss		-10,793		-30,082		-1,489	3		-42,364
Interest and similar expenses									-2,148
Net foreign currency gain / (loss)									826
Net finance costs									-1,322
Profit/loss before tax									-43,686
Income tax expense									-1,791
Consolidated net profit/loss									-45,477

3	Including IPO-related costs (€682 thousand), costs for audit of the financial statements (€538 thousand) and Supervisory Board remuneration (€269 thousand) which are not directly incremental.


	For the year ended December 31, 2020
€ thousand	Air		Space		Not allocated			Group
Revenue		589		90		0			679
Operating profit/loss		-6,423		-12,391		-443	4		-19,257
Interest and similar income									18
Net foreign currency gain / (loss)									-531
Net finance costs									-513
Profit/loss before tax									-19,770
Income tax expense									0
Consolidated net profit/loss									-19,770

4	Including costs for the audit of the financial statements (€313 thousand) as well as Supervisory Board remuneration (€130 thousand).

Summary of Revenue and Non-Current Assets Breakage Based on Geographical Areas

Revenue can be broken down by country as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
USA		4,422		2,355		467
Canada		0		0		122
Belgium		0		0		90
Total		4,422		2,355		679

Non-current

assets can be broken down by country as follows:


€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Germany
Intangible assets		18,058		19,969		17,884
Property, plant, and equipment		18,589		14,490		9,849
Right-of-use assets		6,447		6,053		6,886
Germany, total		43,094		40,512		34,619
USA
Property, plant, and equipment		3,720		2,278		226
Right-of-use assets		2,335		2,774		1,056
USA, total		6,055		5,052		1,282
Total		49,149		45,564		35,901

Material judgments, estimates and assumptions - Additional Information (Detail)		12 Months Ended
	Mar. 01, 2021	Dec. 31, 2022
Disclosure Of Material Judgements Estimates And Assumptions [Line Items]
Useful life as a period of time intangible assets other than goodwill	15 years
Air And Space Technologies [Member]
Disclosure Of Material Judgements Estimates And Assumptions [Line Items]
Useful life as a period of time intangible assets other than goodwill		15 years
Expected marketability period for the products		11 years

Trade Receivables

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Trade Receivables

22. Trade Receivables

As of December 31, 2022, all trade receivables are denominated in US dollars. The maximum default risk for receivables is their carrying amount. All receivables result from contracts with customers.


€ thousand	December 31, 2022		December 31, 2021
Trade receivables		1,101		0
Total		1,101		0

The trade receivables relate to two contracts and two customers. Further information about the group’s exposure to credit risk can be found in the Notes 33.2 a).

Basis of Consolidation and Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Transactions in Foreign Currency and Translation into Foreign Currency

The consolidated financial statements are prepared in euro, the functional currency of the Mynaric AG. The functional currency of each entity is determined by the primary economic environment in which these entities independently operate with respect to financial, economic and organizational considerations, and in which they predominantly generate and expend cash. The functional currency of each subsidiary corresponds to its respective local currency. Foreign currency transactions are remeasured into the respective functional currency of the respective entity at the exchange rates at the date such transactions occur.

Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Any resulting exchange rate differences are recorded in profit or loss.

Non-monetary

assets and liabilities in foreign currency are carried at historical exchange rates. To determine the exchange rate applied for initial recognition of the associated asset, expense or income when derecognizing a

non-monetary

asset or liability arising from prepaid considerations, the date of the transaction is the date of initial recognition of the

non-monetary

asset or liability.

The assets and liabilities of entities with a functional currency other than the Euro, are translated into Euro at the exchange rates at the reporting date. The income and expenses of such companies are translated into Euro at the average exchange rates of the reporting period. Currency translation differences are recognized in other comprehensive income and presented as a reserve for exchange rate differences in equity.

Revenue Recognition

In accordance with IFRS 15 (Revenue from Contracts with Customers), revenue is recognized when control over distinct goods or services are transferred to a customer, i.e., when the customer has the ability to direct the use of, and obtains substantially all of the remaining benefits from, the transferred goods or services. A prerequisite for this is that an arrangement exists with enforceable rights and obligations and that, among other things, it is probable that the entity will collect the consideration, considering the customer’s credit standing.

Revenue is generally recognized with a customer at the level of the individual contract unless the prerequisites for combining contracts are met. The rules set out in IFRS 15 are applied consistently to similarly structured contracts and under similar circumstances. The Group generated revenue from the sale of goods and provision of services. In addition, revenue is recognized when the underlying contract is terminated due to customer default in accordance with IFRS 15.15 b).

If a contract involves multiple distinct goods or services, the transaction price is allocated across the performance obligations based on the relative stand-alone selling prices. If stand-alone selling prices are not directly observable, they are estimated using the amounts that depicts the amount of consideration to which the Company expects to be entitled in the exchange for the goods or services promised to the customer. For each performance obligation, revenue is recognized either at a point in time or over time.

Revenue recognition over time is required if the customer simultaneously receives and consumes the benefits provided by the Company’s performance, the Company creates or enhances an asset that is controlled by the customer, or the Company creates an asset without an alternative use to the Company and simultaneously has an enforceable right to payment for performance completed.

The Company generates revenue from:

•

the sale of laser communication terminals

•

the provision of services (training, support and other services)

The following table provides information about the nature and timing of the satisfaction of performance obligations in contracts with customers, including significant payment terms, and the related revenue recognition policies.


Type of product/service	Nature and timing of satisfaction of performance obligation including significant payment terms	Revenue recognition policies
Sale of products	Customers obtain control of the laser terminals when the goods are delivered and accepted by the customer. Invoices are generated at that point in time. Invoices are usually payable within 10 to 60 days.	Revenue is recognized at point in time when the customer obtains control over the good. Generally, this happens, when the good is delivered at the place agreed in the customer agreement. Advances received are presented as contract liabilities.

Training, support and other services	The Company provides training, support and other services to its customers. The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs. Invoices for these services are either issued based on the agreed payment plan of the respective contract or after the completion of the services. Invoices are usually payable within 30 days.	Revenue is recognized over time based on the cost-to-cost method unless they are not relevant for satisfaction of performance obligation. Advances received are included in contract liabilities.

Government Grants

The Company has received various government grants related to innovation projects encouraged by governmental authorities which generally reimburse a specified amount or proportion of the costs related to such projects. These grants are received or receivable in exchange for past and / or future compliance with conditions specified plan or program under which they were given the respective governmental authority, and, accordingly, they are accounted for as government grants under IAS 20. Government grants related to capitalized assets are recognized on the date on which the conditions for receipt of the grant are met and are deducted from the carrying amount of the respective assets.

Government grants related to expenses incurred by the Group are recognized in profit or loss as other operating income on a systematic basis in the periods in which the expenses are recognized, unless the conditions for receiving the grant are met after the related expenses have been recognized. In this case, the grant is recognized when it becomes receivable.

Financial Result

The financial result includes the net income/expense from other financial expenses arising from liabilities and the result from remeasurement of foreign currency transactions in their respective functional currencies. Interest expenses are recognized in profit or loss, using the effective interest method.

Borrowing costs are expensed directly when incurred unless they are directly attributable to the acquisition, construction, or production of a qualifying asset and therefore form part of the cost of that asset.

Intangible Assets

Intangible assets are measured at cost upon initial recognition. In subsequent periods, intangible assets are recognized at cost less any accumulated amortization and any accumulated impairment losses. Intangible assets with finite useful lives are amortized on a straight-line basis. The estimated (remaining) useful lives as well as the amortization method are subject to annual reviews. If necessary, adjustments due to changes of the expected useful life or of the amortization method are accounted for prospectively as changes in accounting estimates. Intangible assets with indefinite useful lives or intangible assets not yet available for use are not amortized; however, they are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired based on the individual asset or on the level of the related cash-generating unit.

Intangible assets include purchased software and licenses as well as capitalized development expenses. Purchased software and licenses are amortized on a straight-line basis over their expected useful life of three to five years.

In accordance with IAS 38 (Intangible Assets), expenses incurred during the research and development phase must be accounted for separately. Research is defined as original and planned investigation undertaken with the prospect of gaining new scientific or technical knowledge and understanding. Such costs are expensed in the period incurred. Development is defined as the technical and commercial implementation of research findings.

In accordance with IAS 38, development costs must be capitalized if the criteria set out in IAS 38.57 are fulfilled. The Company starts to capitalize costs when management board approval is obtained. The approval is only provided when it is ensured that adequate technical, financial and other resources are available to complete the project and that the Company intends to complete and use the intangible asset. Furthermore, prior to approval, the development project leader provides the management board with an overview of the future economic benefits based on external market studies and internal analysis, as well as the documentation of technical feasibility. The Company has an R&D controlling system in place which enables management to determine expenditures attributable to specific technologies during their development.

The Company capitalizes costs for the development of a technology until the time that development of such technology is completed. The capitalized development costs are amortized on a straight-line basis over the economic useful life of 15 years based on the expected useful life of such technology. Amortization of capitalized development costs commences upon completion of the development project (technology). Amortization expense resulting from capitalized development costs is reported in the statement of profit or loss under depreciation and amortization.

Property, Plant and Equipment

Property, plant, and equipment are recognized at cost, and also includes capitalized borrowing costs, less any accumulated depreciation and impairment losses, if any. Depreciation is recognized on a straight-line basis. The depreciation period is based on the expected useful life of each respective asset. The underlying useful life is three years for computer hardware, and ranges between

three

and 14 years for machinery, furniture, fixtures, and office equipment, as well as leasehold improvements.

The useful lives, residual values, and depreciation methods for property, plant, and equipment are reviewed periodically and adjusted prospectively, if necessary, to ensure that the depreciation method and depreciation period reflect the expected economic benefit of the assets.

Interests in equity-accounted investees

The Group’s interests in equity-accounted investees comprise interests in associates and a joint venture.

Associates are those entities in which the Group has significant influence, but not control or joint control, over the financial and operating policies. A joint venture is an arrangement in which the Group has joint control, whereby the Group has rights to the net assets of the arrangement, rather than rights to its assets and obligations for its liabilities.

Interests in associates and the joint venture are accounted for using the equity method. They are initially recognized at cost. Subsequent to initial recognition, the consolidated financial statements include the Group’s share of the profit or loss and OCI of equity-accounted investees, until the date on which significant influence or joint control ceases.

Impairment of Non-financial Assets

Impairment of

Non-current

Non-financial

Assets

As of each reporting date, management reviews whether any indication exists that

non-financial

assets may be subject to impairment losses or reversals of impairment losses. If such indications exist, management estimates the recoverable amount of the

non-financial

asset. The recoverable amount is determined for each individual asset unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets (cash-generating units).

Intangible assets not yet available for use are tested for impairment at least once per year.

If the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount, an impairment loss is recognized in the amount of the difference. The recoverable amount is the higher of fair value less costs of disposal (FVLCOD) and value in use.

The FVLCOD and the value in use is based on the estimated future cash flows of the cash-generating unit, discounted to their present value using a risk-adjusted

pre-tax

interest rate. The future cash flows are determined based on the long-term planning approved by the management as applicable as of the date when the impairment test is conducted.

As of each reporting date, the Company reviews whether an impairment loss recognized in previous periods no longer exists or may have decreased. In these cases, the Company recognizes a partial or full reversal of the impairment loss, with the carrying amount being increased to the recoverable amount. The increased carrying amount, however, may not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years.

Inventories

Inventories are recognized at the lower of cost or net realizable value. The cost (including costs of purchase and manufacturing costs) is determined based on the moving average price of the item.

Apart from directly attributable unit costs, production costs include appropriate portions of production overheads based on normal operating capacity. The net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and selling expenses.

Write-downs to the lower net realizable values primarily consider inventory risks resulting from turnover period and reduced recoverability. Write-downs are reversed if the reasons that resulted in the impairment of inventories no longer exist.

Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. This includes both primary financial instruments (such as trade receivables and payables as well as other receivables and payables) and derivative financial instruments such as foreign exchange contracts.

Trade receivables are initially recognized when they are originated. All other financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument.

A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus or minus, for an item not at Fair value through profit or loss (“FVTPL”), transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.

i) Financial Assets

On initial recognition, a financial asset is classified as measured at:

•

AC – amortised cost

•

FVOCI – debt investment and equity investment

•

FVTPL – Fair value through profit or loss

Currently, no financial assets are classified as FVOCI. The classification is made on initial recognition and the financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.

Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire or have been transferred and the Company has transferred substantially all the risks and rewards of ownership.

Financial assets held to collect contractual cash flows and whose contractual cash flows solely represent payment of principal and interest are measured at amortized cost. Interest income from these financial assets is reported under financial income applying the effective interest method. Gains or losses from derecognition are directly recorded in the consolidated statement of comprehensive income and, together with foreign exchange gains and losses, recorded under the result from foreign currency translation. Trade receivables, cash, and other financial assets are classified as measured at amortized costs.

Derivative Financial Instruments

Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met.

Derivatives are initially measured at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognized in profit or loss.

Impairment of Financial Assets

The Company holds the following instruments as financial assets that are subject to the credit loss model in accordance with IFRS 9:

•

Trade receivables

•

Other financial assets

•

Cash and cash equivalents

The Company also recognizes loss allowances for expected credit losses (“ECL”) on lease receivables, which are disclosed as part of trade and other receivables

The general impairment methodology follows a three-stage approach based on the change in credit quality of financial assets since initial recognition (general approach). At initial recognition, debt instruments are assumed to have a low credit risk, for which a loss allowance for

12-months

ECL is recognized (Stage 1). When there has been a significant increase in credit risk, the loss allowance is measured using lifetime ECL (Stage 2). A significant increase in credit risk is presumed if a debtor is more than 30 days past due in making a contractual payment. If there is objective evidence of impairment (Stage 3), the Company also accounts for lifetime ECL and recognizes an impairment. Mynaric considers that there is objective evidence of impairment if any of the following indicators are present: significant financial difficulties of the debtor, probability that the debtor will enter bankruptcy or financial reorganization or default or delinquency in payments.

The Company applies this general approach for cash and cash equivalents as well as other assets. These assets are considered to have a low credit risk when the issuer has a strong capacity to meet its contractual cash flow obligations in the near term. Cash and cash equivalents are only placed at banks with credit ratings of investment grade or higher. Rental deposits are trust assets that, in case of a default of the counterparty, are separated from insolvency estate and are paid back primarily. Considering that, the impairment for these assets is not material.

For trade and other receivables, Mynaric applies the simplified approach under which lifetime ECL is recognized without monitoring the change in customers’ credit risk.

Impairment losses, including reversals of impairment losses or impairment gains, are presented as other income, net in the consolidated statement of profit and comprehensive income.

ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e., the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset.

ii) Financial Liabilities

Financial liabilities are measured at fair value upon initial recognition, less any directly attributable transaction costs in the case of loans and liabilities.

The Company’s financial liabilities comprise trade and other payables as well as liabilities to banks, including overdraft credits.

The subsequent measurement of financial liabilities depends on their classification, as described below:

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss comprise financial liabilities held for trading as well as other financial liabilities classified upon initial recognition as measured at fair value through profit or loss.

A financial liability is classified as held for trading if it is acquired for the purpose of repurchasing it in the near term.

This category also comprises any concluded derivative financial instruments that are not designated as hedging instruments as part of hedging relationships in accordance with IFRS 9. Embedded derivatives that are separated from the host contract are also classified as held for trading, except for derivatives that have been designated as hedging instruments and are determined to be effective as such.

Gains or losses on financial liabilities held for trading are recognized in profit or loss.

The classification of financial liabilities as measured at fair value through profit or loss is made upon initial recognition if the criteria pursuant to IFRS 9 are met. The Company does not have any financial liabilities that are measured at fair value through profit or loss.

Financial liabilities measured at amortized cost (“FLAC”)

This category comprises trade payables, other liabilities, and loans. Subsequent to initial recognition, interest-bearing loans are measured at amortized cost using the effective interest method. Gains and losses are recognized in profit or loss when the liabilities are derecognized, and otherwise through the amortization process based on the effective interest method.

Financial liabilities are derecognized when the contractual obligations are discharged, canceled, or expire. Financial liabilities are classified as

non-current

liabilities unless settlement of the financial liabilities is due within 12 months after the end of the reporting period, in which case they are classified as current.

Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously.

Taxes

Income taxes are comprised of current and deferred taxes. Current and deferred taxes are recognized in profit or loss to the extent that they do not relate to items recorded in equity or other comprehensive income.

Current taxes

The expected income tax liabilities or receivables arising as a result of the taxable profit in each applicable tax jurisdiction, taking into account applicable tax rules and regulations, are recognized as current taxes. The tax rates applicable as of the reporting date are used for measurement. All necessary adjustments to tax liabilities or tax assets from prior periods are also considered.

Deferred taxes

In accordance with IAS 12, temporary differences between the tax base of assets and liabilities on the one hand and their carrying amount under IFRS, on the other hand, result in the recognition of deferred taxes. Deferred tax assets on deductible temporary differences are recognized to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilized. The same applies to deferred tax assets on tax loss carryforwards. No deferred taxes have been recorded for temporary differences associated with investments in subsidiaries as the Group can determine the timing of the reversal of such temporary differences and it is probable that the temporary difference will not reverse in the foreseeable future.

Current and deferred income taxes for 2022 were determined using the applicable tax rates. The Company applies a tax rate of 27.725% to calculate deferred taxes for Mynaric AG and its German subsidiaries. This combined income tax rate comprises 15% corporation tax plus 5.5% solidarity surcharge thereon as well as 11.9% trade tax.

Deferred tax assets and liabilities are offset if the deferred taxes refer to income taxes levied by the same taxation authority and if the current taxes are offset against each other.

Changes in deferred tax assets and liabilities are generally recognized through profit and loss, except for changes recognized in other comprehensive income or directly in equity.

Share issue costs

Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from the capital reserve.

Equity-settled share-based payment

The grant-date fair value of equity-settled share-based payment arrangements granted to employees is generally recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards. The amount recognized as an expense is adjusted to reflect the number of awards for which the related service and non-market performance conditions are expected to be met, such that the amount ultimately recognized is based on the number of awards that meet the related service and non-market performance conditions at the vesting date. For equity-settled share-based payments awards with non-vesting conditions, the grant-date fair value of the equity-settled share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

Provisions

Provisions are recognized when either a legal or constructive obligation to a third party as a result of a past event exists as of the reporting date, it is probable that an outflow of economic resources will be required to settle the obligation, and a reliable estimate of the amount of this obligation can be made. If the Company expects at least a partial reimbursement for a recognized provision (e.g., in the case of an insurance policy), the reimbursement is recognized as a separate asset when such reimbursement is virtually certain. The expense arising from the recognition of the provision is presented in the statement of profit or loss net of reimbursement. If the obligations fall due after more than one year and payment can be reliably estimated in terms of both amount and timing, the

non-current

portion of the obligation is measured at the respective present value in case the corresponding time value of money is material. The present value to be recognized is determined based on market interest rates that reflect the risk and the time period until the obligation is settled.

For long-term provisions with an interest portion the increase in the amount of a provision reflecting the time value of money is recognized as interest expense in the financial result.

Provisions are reviewed as of each reporting date and adjusted to the current best estimate.

Provisions for Onerous Contracts

Present obligations arising in connection with onerous contracts are recognized as provisions. The existence of an onerous contract is presumed when the Group is party to a contract that is expected to be settled by incur-ring costs that exceed the economic benefits available under the contract.

A provision for onerous contracts is measured at the present value of the lower of the expected cost of terminating the contract and the expected net cost of continuing with the contract, which is determined based on the full cost necessary to fulfil the obligation under the contract. Before a provision is established, the Group recognizes any impairment loss on the assets associated with that contract.

Leases

At contract inception, the Company assesses whether the contract is or contains a lease. This is the case if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

i) The Company as lessee

The Company presents all leases on the face of the statement of financial position with the exception of short-term leases and leases for

low-value

assets. It recognizes liabilities for lease payments to be made and

right-of-use

assets for the right to use the underlying asset.

Right-of-use

assets

The Company recognizes

right-of-use

assets as of the commencement date (i.e., the date on which the underlying leased asset is available for use).

Right-of-use

assets are measured at cost less accumulated depreciation and accumulated impairment losses, if any, and adjusted for any remeasurement of the lease liabilities. The cost of the

right-of-use

assets correspond to the associated lease liabilities, plus any restoration costs, less any initial direct costs as well as the lease payments made at or before the commencement date, less any lease incentives received.

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and expected useful life of the leased asset,

follows:

•

Real estate – 3 to 10 years

•

Other leases – 3 to 5 years

If the group is certain to exercise a purchase option, the

right-of-use

asset is depreciated over the underlying asset’s useful life, as follows:

•

Other leases – 10 to 15 years

If ownership of the leased asset is transferred to the Company at the end of the lease term or the exercise of a purchase option is considered in the determination of the cost, depreciation is determined based on the expected useful life of the leased asset. In addition,

right-of-use

assets are subject to impairment testing in the same manner as property, plant and equipment described in note 3.2 h).

Lease liabilities

On the commencement date, the Company recognizes the lease liability at the present value of the lease payments to be made over the lease term. The lease payments comprise fixed payments (including

in-substance

fixed payments), less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be payable by the lessee under residual value guarantees. Lease payments also include the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, as well as payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. Variable lease payments that do not depend on an index or rate are expensed in the period in which the event or condition triggering such payment occurs. The Company determines the lease term based on the

non-cancelable

period of a lease and any periods covered by an option to extend the lease if the lessee is reasonably certain to exercise such option.

The Company uses the interest rate implicit in the lease, if known to the Company, for the calculation of the present value of the lease payments. In the case of leases for which this interest rate is unknown, the Company applies its incremental borrowing rate as of the commencement date. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the

right-of-use

asset in a similar economic environment. After the commencement date, the lease payment is split into a principal and interest portion with the liability being reduced for the principal portion and the interest is recorded in the consolidated statement of profit and loss and other comprehensive income. In addition, the carrying amount of the lease liabilities is remeasured to reflect any modifications to the lease, changes in the lease term, changes in the lease payments (e.g., changes of future

lease payments following a change in the index or rate used to determine these payments), or changes in the assessment of an option to purchase the underlying asset.

Short-term leases and leases for

low-value

assets

The Company applies the practical expedient for its short-term leases for real estate and other operating equipment (i.e., leases with a term of not more than 12 months from the commencement date and that do not include a purchase option). With respect to leases for office equipment deemed as being of low value, the Company also applies the exemption provided for leases for

low-value

assets. Lease payments for short-term leases and for leases for

low-value

assets are recognized as an expense on a straight-line basis over the lease term.

ii) The Company as a lessor

At inception or on modification of a contract with customer that contains a lease component, the Company allocates the consideration in the contract to each lease component based on their relative standalone prices.

The Company recognizes payments received related to lease under operating leases as income on a straight-line basis over the lease term as part of other operating income.

Newly issued financial reporting standards and interpretations

The International Accounting Standards Board (IASB) and the IFRS Interpretation Committee (IC) amended the following standards and interpretations that must be applied for the fiscal year 2022 from January 1, 2022:

•

Property, Plant and Equipment: Proceeds before intended use – Amendments to IAS 16

•

Reference to the Conceptual Framework – Amendments to IFRS 3

•

Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37

•

Annual Improvements to IFRS Standards 2018 – 2020 (IFRS 9, IFRS 16, IFRS 1, IAS 41)

The Group has adopted all the foregoing amendments in 2022, none of which had a significant impact on the consolidated financial statements.

Newly issued financial reporting rules that have not yet been applied

The IASB has issued standards, interpretations, and amendments to existing standards whose application is not yet required, or which must be applied only in subsequent reporting periods, respectively, and which have not been applied early by the Company.


	Date of application
IFRS 17 Insurance Contracts		Jan. 1, 2023
Classification of Liabilities as Current or Non-current – Amendments to IAS 1		Jan. 1, 2024
Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2		Jan. 1, 2023
Definition of Accounting Estimates – Amendments to IAS 8		Jan. 1, 2023
Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)		Jan. 1, 2023
Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12		Jan. 1, 2023

The Company is currently analyzing the effects of the new or revised financial reporting standards listed above but does not expect any material effects resulting from application of the revised standards to the Company.

Property, Plant, and Equipment - Summary of Property, Plant, and Equipment (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	€ 16,768
Additions	8,776	€ 8,594	€ 7,125
Depreciation for the year	3,254	1,994	823
Ending balance	22,309	16,768
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	19,838	11,426	4,616
Additions	8,776	8,594	7,125
Reclassifications	0	0	0
Disposals	(322)	(291)	(297)
Exchange rate differences	124	107	(17)
Ending balance	28,415	19,838	11,426
Cost \| Land and buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,966	1,256	1,180
Additions	438	1,107	81
Reclassifications	136	562	0
Disposals	0	(8)	0
Exchange rate differences	70	49	(5)
Ending balance	3,610	2,966	1,256
Cost \| Machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	8,754	4,303	2,099
Additions	1,239	2,437	1,790
Reclassifications	4,331	2,014	542
Disposals	(1)	0	(128)
Exchange rate differences	(9)	0	0
Ending balance	14,314	8,754	4,303
Cost \| Other plant, furniture, fixtures, and office equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	5,867	3,151	865
Additions	2,356	2,654	1,977
Reclassifications	105	311	490
Disposals	(261)	(283)	(169)
Exchange rate differences	41	34	(12)
Ending balance	8,108	5,867	3,151
Cost \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,250	2,717	472
Additions	4,743	2,397	3,277
Reclassifications	(4,572)	(2,887)	(1,032)
Disposals	(60)	0	0
Exchange rate differences	22	23	0
Ending balance	2,383	2,250	2,717
Depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	3,070	1,352	776
Disposals	(221)	(283)	(247)
Exchange rate differences	5	7
Depreciation for the year	3,254	1,994	823
Ending balance	6,106	3,070	1,352
Depreciation \| Land and buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	514	206	86
Disposals	0	0	0
Exchange rate differences	1	4
Depreciation for the year	526	304	120
Ending balance	1,041	514	206
Depreciation \| Machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,403	630	458
Disposals	(2)	0	(116)
Exchange rate differences	0	0
Depreciation for the year	1,419	773	288
Ending balance	2,820	1,403	630
Depreciation \| Other plant, furniture, fixtures, and office equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,151	516	232
Disposals	(219)	(283)	(131)
Exchange rate differences	4	2
Depreciation for the year	1,309	916	415
Ending balance	2,245	1,151	516
Depreciation \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	0	0	0
Disposals	0	0	0
Exchange rate differences	0	0
Depreciation for the year	0	0	0
Ending balance	0	0	0
Carrying amount
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	16,768	10,075
Ending balance	22,309	16,768	10,075
Carrying amount \| Land and buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,452	1,050
Ending balance	2,569	2,452	1,050
Carrying amount \| Machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	7,351	3,673
Ending balance	11,494	7,351	3,673
Carrying amount \| Other plant, furniture, fixtures, and office equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	4,716	2,635
Ending balance	5,863	4,716	2,635
Carrying amount \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,250	2,717
Ending balance	€ 2,383	€ 2,250	€ 2,717

Personnel costs

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Personnel costs

9.	Personnel Costs

The following table shows the breakdown of the personnel costs:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Wages and salaries		26,318		18,185		13,585
Share based payments		6,133		1,942		1,125
Social security contributions, pensions, and other employee benefits		4,959		3,238		2,124
Total		37,410		23,365		16,834

Under defined contribution pension plans, the Company paid contributions to governmental pension schemes for the year ended December 31, 2022, in the amount of €1,799 thousand (2021: €1,301 thousand, 2020: €872).

9.1.	Equity-settled share-based payment under Stock Option Plans

2019 Stock Option Plan

In fiscal year 2019, Mynaric granted stock options to selected employees under the 2019 Stock Option Plan. A stock option entitles the holder to the right to purchase Company shares at the relevant exercise price. The vesting period for the exercise of the options is four years, starting on the grant date of such options. The options may be exercised within a period of three years after the expiration of the vesting period provided that the performance target has been achieved. The performance target is linked to the absolute price performance of the Company shares during the vesting period. The stock options can be exercised only if the volume-weighted

six-month

average price of the Company shares in Xetra trading (or a comparable successor system) at the Frankfurt Stock Exchange exceeds the exercise price by 20% or more upon the expiry of the vesting period. Under the 2019 Stock Option Plan (Tranche 2019 I), in addition to options granted to new beneficiaries, options were also granted in replacement for waiving any claims from the options granted in 2018 from the 2017 Stock Option Plan. The incremental fair value of the options granted in replacement for waiving any claims from the 2017 option plan amounts to EUR 5.93 per option and was determined using a Monte Carlo simulation.

2020 Stock Option Plan

In fiscal year 2020, Mynaric granted stock options to selected employees under the 2020 Stock Option Plan. A stock option entitles the holder to the right to purchase Company shares at the relevant exercise price. The vesting period for the exercise of the options is four years, starting on the grant date of such options. The options may be exercised within a period of three years after the expiration of the vesting period provided that the performance target has been achieved. The performance target is linked to the absolute price performance of the Company shares during the vesting period. The stock options can be exercised only if the volume-weighted

six-month

average price of the Company shares in Xetra trading (or a comparable successor system) at the Frankfurt Stock Exchange exceeds the exercise price by 20% or more upon the expiry of the

lock-up

period.

Granting of stock options to Mr. Altan

In fiscal year 2019, a shareholder of Mynaric AG granted Mr. Altan, the Chief Executive Officer and a member of the management board of Mynaric AG, the right to acquire 56,700 shares of the Company from such shareholder at a price of €25.00 per share. The exercise of Mr. Altan’s option right was subject to a number of conditions, including Mr. Altan’s continued employment until December 31, 2019, with Mynaric AG and the successful exercise of option rights pursuant to separate option agreement under which the granting shareholder was an optionholder. All conditions under the option agreement with Mr. Altan were fulfilled in December 2020. Please refer to Note 32 a) Related party transactions for more information.

2021 Stock Option Plan

In fiscal year 2021, Mynaric granted stock options to selected employees under the 2021 Stock Option Plan. A stock option entitles the holder to the right to purchase Company shares at the relevant exercise price. The vesting period for the exercise of the options is four years, starting on the grant date of such options. The options may be exercised within a period of three years after the expiration of the vesting period provided that the performance target has been achieved. The performance target is linked to the absolute price performance of the Company shares during the vesting period. The stock options can be exercised only if the volume-weighted

six-month

2022 Stock Option Plan

During the year ended December 31, 2022, the Company granted 108,000 stock options to selected employees under the 2022 Stock Option Plan. A stock option entitles the holder to the right to purchase Company shares at the relevant exercise price. The vesting period for the exercise of the options is four years, starting on the grant date of such options. The options may be exercised within a period of five years after the expiration of the vesting period provided that the performance target has been achieved. The first performance target is linked to the absolute price performance of the Company shares during the vesting period. The second performance target relates to the achievement of ESG (Environment, Social, Governance) targets (Diversity target and employee engagement target, both measured on a company level). The share price performance target is weighted at 80% and the ESG performance target is weighted at 20%. The target achievement of both performance targets is between 0% and 100% which means that the number of exercisable options is adjusted based on the corresponding target achievement. Furthermore, the stock options can only be exercised to the extent that the maximum compensation of the respective beneficiary for the corresponding period is not exceeded which means that in case the maximum compensation would be exceeded, the number of exercisable options is reduced. A total of 40,000 options from the 2021 I tranche were waived by the beneficiary, which was compensated by granting of 33,000 new stock options from the 2022 I tranche. The waive and grant of new stock options was treated as replacement according to IFRS 2 and therefore as a modification within the meaning of IFRS 2. The fair value of the original grant and the new grant were both measured at the modification date and the incremental fair value (€ 58.378) of the new grant is recorded in P&L.

The stock option grants under the 2017, 2019 2020, 2021, 2022 Stock Option Plans, and the stock options granted to Mr. Altan by selected shareholders are classified and measured as equity-settled share-based payments in accordance with IFRS 2. Accordingly, the fair value is determined only once on the grant date. The determined expense must then be amortized over the vesting period.

The following table provides an overview of the outstanding, granted, forfeited, exercised, and expired options. The stock options granted in replacement for waiving claims from the stock options under the 2017 Stock Option Plan were accounted for in accordance with the IFRS 2 rules applicable for replacement plans.

The options changed as follows in fiscal year 2022 (Tranches 2019):


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2019 X
Options outstanding as of Jan. 1, 2022		93,800		20,000		12,500		53,000		26,600		7,000		6,000		12,350		5,000		—
Options granted		—		—		—		—		—		—		—		—		—		2,500
Options forfeited		300		—		5,100		—		8,600		1,000		—		1,500		—		—
Options exercised		—		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2022		93,500		20,000		7,400		53,000		18,000		6,000		6,000		10,850		5,000		2,500
Options exercisable as of Dec. 31, 2022		—		—		—		—		—		—		—		—		—		—

The options changed as follows in fiscal year 2022 (Tranches 2020 - 2022):


	Tranche 2020 I		Tranche 2021 I			Tranche 2022 I		Tranche Altan
Options outstanding as of Jan. 1, 2022		14,000		100,000			—		56,700
Options granted		—		—			108,000		—
Options forfeited		—		—			—		—
Options exercised		—		—			—		—
Options expired		—		40,000	5		—		56,700
Options outstanding as of Dec. 31, 2022		14,000		60,000			108,000		—
Options exercisable as of Dec. 31, 2022		—		—			—		—

Note: A total of 40,000 options from the 2021 I tranche were waived, which was compensated for by the granting of 33,000 new options from the 2022 I tranche.

The options changed as follows in fiscal year 2021:


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2021 I		Tranche Mr. Altan
Options outstanding as of Jan. 1, 2021		107,100		20,000		14,550		53,000		26,600		13,500		14,000		—		—		—		—		56,700
Options granted		—		—		—		—		—		—		—		6,000		14,350		5,000		100,000		—
Options forfeited		13,300		—		2,050		—		—		6,500		—		—		2,000		—		—		—
Options exercised		—		—		—		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2021		93,800		20,000		12,500		53,000		26,600		7,000		14,000		6,000		12,350		5,000		100,000		56,700
Options exercisable as of Dec. 31, 2021		—		—		—		—		—		—		—		—		—		—		—		56,700

The options changed as follows in fiscal year 2020:


	Tranche 2018		Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche Mr. Altan
Options outstanding as of Jan. 1, 2020		2,200		107,400		20,000		—		—		—		—		—		56,700
Options granted		—		—		—		19,850		53,000		26,600		13,500		14,000		—
Options Forfeited		2,200		300		—		5,300		—		—		—		—		—
Options exercised		—		—		—		—		—		—		—		—		—
Options expired		—		—		—		—		—		—		—		—		—
Options outstanding as of Dec. 31, 2020		—		107,100		20,000		14,550		53,000		26,600		13,500		14,000		56,700
Options exercisable as of Dec. 31, 2020		—		—		—		—		—		—		—		—		56,700

No options were exercised in during the year ended December 31, 2022. The table below shows the contractual terms of the respective tranches outstanding as of December 31, 2022.

Measurement model and inputs


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2019 X		Tranche 2021 I		Tranche 2022 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		68.97		71.15		70.31		37.31		71.15		32.90		25.00
Term in years		7		7		7		7		7		7		7		7		7		7		7		7		9		1.74
Remaining term in years		3.75		4.00		4.25		4.50		4.75		5.00		4.75		5.25		5.50		5.75		6.50		5.50		8.75		0
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		64.20		80.20		64.80		27.55		80.20		19.76		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		36.67		36.90		37.56		38.46		36.90		35.31		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.53		-0.40		-0.40		1.12		-0.40		2.02		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		14.18		25.17		16.28		5.72		25.17		1.97 – 2.01		20.40

The table below shows the inputs used for the model as of December 31, 2021.


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche 2019 VII		Tranche 2019 VIII		Tranche 2019 IX		Tranche 2021 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		68.97		71.15		70.31		71.15		25.00
Term in years		7		7		7		7		7		7		7		7		7		7		7		1.74
Remaining term in years		4.75		5.00		5.25		5.50		5.75		6.00		5.75		6.25		6.5		6.75		6.5		0.35
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		64.20		80.20		64.80		80.20		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		36.67		36.90		37.56		36.90		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.53		-0.40		-0.40		-0.40		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		14.18		25.17		16.28		25.17		20.40

The table below shows the inputs used for the model as of December 31, 2020.


	Tranche 2019 I		Tranche 2019 II		Tranche 2019 III		Tranche 2019 IV		Tranche 2019 V		Tranche 2019 VI		Tranche 2020 I		Tranche Altan
Exercise price (in €)		42.46		41.03		46.50		47.25		61.27		66.49		61.27		25.00
Term in years		7		7		7		7		7		7		7		1.74
Remaining term in years		5.75		6.00		6.25		6.50		6.75		7.00		6.75		0.35
Share price as of the valuation date (in €)		38.00		38.50		35.20		51.00		75.46		73.20		75.46		43.39
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		45.91		45.66		48.32		48.45		36.39		36.63		36.39		51.31
Risk-free interest rate (in %)		-0.74		-0.39		-0.62		-0.60		-0.65		-0.69		-0.65		-0.82
Option value (in €)		11.53		12.42		9.43		19.55		26.14		23.25		26.14		20.40

The term of the options as well as the possibility of early exercise were considered in the option model. Early exercise is assumed when the share price exceeds the exercise price by a factor of 1.2. The implied rate of return of German government bonds with matching maturities was used for determining the risk-free interest rate. Expected volatility has been based on an evaluation of the historical volatility for matching maturities of the Company´s peer group. The expected volatility considered assumes that it is possible to derive future trends from historic volatility, and thus the actual volatility may deviate from the assumptions made.

The total expense for equity-settled share-based payments recognized in the year ended December 31, 2022, under the Stock Option Plans is €2,300 thousand (2021: €513 thousand, 2020: €1,125 thousand). The equity-settled share-based payment recognized in the capital reserve amount to €5,116 thousand as of December 31, 2022 (2021: €2,815 thousand, 2020: €2,303 thousand).

9.2.	Equity-settled share-based payment under Restricted Stock Unit Plan (RSUP)

RSUP 2021

In the financial year 2021, subscription rights in the form of restricted stock units (RSUs) were granted to selected employees. An RSU grants an entitlement to a cash settlement or shares in the company, whereby the

choice of settlement form lies solely with the company. The value of an RSU corresponds to the value of the volume-weighted

six-month

average price of the Company shares on the primary stock exchange (XETRA).

The vesting period of the RSUs is four years after the grant date of the subscription rights. The vested entitlement is settled once a year within 40 trading days after publication of the annual financial statements of Mynaric AG.

The grant of RSUs under the RSUP 2021 has been classified and measured as equity-settled share-based payment in accordance with IFRS 2.

The table below provides an overview of outstanding, granted, forfeited, exercised and forfeited RSUs.

The RSUs developed as follows in the financial year 2022:


	Tranche 2021 I		Tranche 2021 II		Tranche 2022 I		Tranche 2022 II		Tranche 2022 III		Tranche 2022 IV
RSUs outstanding as of Jan. 1, 2022		67,773		32,423		—		—		—		—
RSUs granted		—		—		26,430		28,518		50,342		13,261
RSUs forfeited		13,536		3,748		2,055		87		1,537		—
RSUs exercised		16,149		—		—		—		—		—
RSUs expired		—		—		—		—		—		—
RSUs outstanding as of Dec. 31, 2022		37,887		28,675		24,375		28,431		48,805		13,261
RSUs exercisable as of Dec. 31, 2022		—		—		—		—		—		—

The RSUs developed as follows in the financial year 2021:


	Tranche 2021 I		Tranche 2021 II
RSUs outstanding as of Jan. 1, 2021		—		—
RSUs granted		68,631		32,476
RSUs forfeited		858		53
RSUs exercised		—		—
RSUs expired		—		—
RSUs outstanding as of Dec. 31, 2021		67,773		32,423
RSUs exercisable as of Dec. 31, 2021		—		—

Measurement model and inputs


	Tranche 2021 I		Tranche 2021 II		Tranche 2022 I		Tranche 2022 II		Tranche 2022 III		Tranche 2022 IV
Exercise price (in €)		0.00		0.00		0.00		0.00		0.00		0.00
Term in years		4.77		4.52		5.26		5.02		4.77		4.52
Remaining term in years		3.27		3.27		4.27		4.27		4.27		4.27
Share price as of the valuation date (in €)		80.60		62.90		46.35		40.65		26.75		19.76
Expected dividend yield (in %)		0.00		0.00		0.00		0.00		0.00		0.00
Expected volatility (in %)		39.83		39.75		38.89		39.14		39.54		45.59
Risk-free interest rate (in %)		-0.60		-0.62		-0.45		0.37		0.87		1.92
RSU-value (in €)		80.60		62.90		46.35		40.65		26.75		19.76

The table below shows the input parameters of the model as grant date as of December 31, 2021.


	Tranche 2021 I		Tranche 2021 II
Exercise price (in €)		0.00		0.00
Term in years		4.77		4.52
Remaining term in years		4.27		4.27
Share price as of the valuation date (in €)		80.60		62.90
Expected dividend yield (in %)		0.00		0.00
Expected volatility (in %)		39.83		39.75
Risk-free interest rate (in %)		-0.60		-0.62
RSU-value (in €)		80.60		62.90

The implied yield of German government bonds with equivalent maturities was used to determine the risk-free interest rate. As the stock market history of Mynaric AG is shorter than the remaining term of the RSUs, the volatility was determined as maturity-equivalent historical volatility based on the peer group. The expected volatility considered is based on the assumption that future trends can be inferred from historical volatility, so that the volatility that actually occurs may differ from the assumptions made.

The total expense for equity-settled share-based payments recognized in the year ended December 31, 2022, under the

RSU-Program

is €3,832 thousand (2021: €1,429 thousand, 2020: €0). The equity-settled share-based payments recognized in the capital reserve amount to €5,261 thousand as of December 31, 2022 (2021: €1,429 thousand, 2020: €0).

Basis of Consolidation and Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Consolidated Subsidiaries

Set out below is the list of consolidated subsidiaries:


Company name	Shareholding in %		Consolidation
Mynaric Lasercom GmbH, Gilching		100.0		fully consolidated
Mynaric Systems GmbH, Gilching		100.0		fully consolidated
Mynaric USA, Inc., Los Angeles, USA		100.0		fully consolidated
Mynaric Government Solutions, Inc., Arlingtion, USA 1		100.0		fully consolidated

1	Mynaric Government Solutions, Inc. was established on April 28, 2022.

Summary of Nature and Timing of Satisfication of Performance Obligation in Contract with Customers


Type of product/service	Nature and timing of satisfaction of performance obligation including significant payment terms	Revenue recognition policies
Sale of products	Customers obtain control of the laser terminals when the goods are delivered and accepted by the customer. Invoices are generated at that point in time. Invoices are usually payable within 10 to 60 days.	Revenue is recognized at point in time when the customer obtains control over the good. Generally, this happens, when the good is delivered at the place agreed in the customer agreement. Advances received are presented as contract liabilities.

Training, support and other services	The Company provides training, support and other services to its customers. The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs. Invoices for these services are either issued based on the agreed payment plan of the respective contract or after the completion of the services. Invoices are usually payable within 30 days.	Revenue is recognized over time based on the cost-to-cost method unless they are not relevant for satisfaction of performance obligation. Advances received are included in contract liabilities.

Summary of Newly Issued Financial Reporting Rules not yet Applied


	Date of application
IFRS 17 Insurance Contracts		Jan. 1, 2023
Classification of Liabilities as Current or Non-current – Amendments to IAS 1		Jan. 1, 2024
Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2		Jan. 1, 2023
Definition of Accounting Estimates – Amendments to IAS 8		Jan. 1, 2023
Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)		Jan. 1, 2023
Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12		Jan. 1, 2023

Own Work Capitalized - Summary of Detailed Information About Breakdown of Own Work Capitalized (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Own Work Capitalized [Abstract]
Development costs	€ 968	€ 2,845	€ 8,248
Property, plant and equipment	599	1,770	1,127
Total	€ 1,567	€ 4,615	€ 9,375

Other Non-Financial Liabilities

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Other Non-Financial Liabilities

30. Other

Non-Financial

Liabilities

Current financial and

non-financial

liabilities comprise the following:


€ thousand	December 31, 2022		December 31, 2021
Liabilities due to customers		15,166		1,888
Loan related fee’s		782		0
Liabilities for payroll, social security and payroll tax		482		435
Other		228		0
Total		16,658		2,323

Liabilities due to customers includes payments received from customers where the underlying agreements do not constitute a contract within the meaning of IFRS 15.9. The liability is recognized as other liabilities, rather than contract liabilities, until a contract according to IFRS 15.9 exists or the requirements of IFRS 15.15 for recognition in profit or loss are met. During the year ended December 31, 2022, total payments received related to such contracts totaled €15,984 thousand (2021: €1,888 thousand, 2020: €0) and revenue of €2,661 thousand was recognized (2021: € 0 thousand, 2020: €0).

Basis of Consolidation and Accounting Policies

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Basis of Consolidation and Accounting Policies

3.	Basis of Consolidation and Accounting Policies

3.1.	Basis of Consolidation

The consolidated financial statements include the financial statements of Mynaric AG and its subsidiaries as of December 31, 2022, and 2021 and for years ended December 31, 2022, 2021 and 2020, and were prepared using accounting policies applied consistently. Subsidiaries are the entities directly or indirectly controlled by Mynaric AG. An entity is controlled when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The financial statements of subsidiaries are included in the consolidated financial statements from the date on which control commences until the date on which control ceases.

Any intragroup balances, income and expenses, unrealized gains and losses, and dividends from intragroup transactions are eliminated.

Set out below is the list of consolidated subsidiaries:


Company name	Shareholding in %		Consolidation
Mynaric Lasercom GmbH, Gilching		100.0		fully consolidated
Mynaric Systems GmbH, Gilching		100.0		fully consolidated
Mynaric USA, Inc., Los Angeles, USA		100.0		fully consolidated
Mynaric Government Solutions, Inc., Arlingtion, USA 1		100.0		fully consolidated

1	Mynaric Government Solutions, Inc. was established on April 28, 2022.

3.2.	Accounting Policies

Transactions in Foreign Currency and Translation into Foreign Currency

Non-monetary

non-monetary

asset or liability arising from prepaid considerations, the date of the transaction is the date of initial recognition of the

non-monetary

asset or liability.

Revenue Recognition

The Company generates revenue from:

•

the sale of laser communication terminals

•

the provision of services (training, support and other services)


Type of product/service	Nature and timing of satisfaction of performance obligation including significant payment terms	Revenue recognition policies
Sale of products	Customers obtain control of the laser terminals when the goods are delivered and accepted by the customer. Invoices are generated at that point in time. Invoices are usually payable within 10 to 60 days.	Revenue is recognized at point in time when the customer obtains control over the good. Generally, this happens, when the good is delivered at the place agreed in the customer agreement. Advances received are presented as contract liabilities.

Training, support and other services	The Company provides training, support and other services to its customers. The customer simultaneously receives and consumes the benefits provided by the entity’s performance as the entity performs. Invoices for these services are either issued based on the agreed payment plan of the respective contract or after the completion of the services. Invoices are usually payable within 30 days.	Revenue is recognized over time based on the cost-to-cost method unless they are not relevant for satisfaction of performance obligation. Advances received are included in contract liabilities.

Government Grants

Financial Result

Intangible Assets

Property, Plant and Equipment

three

and 14 years for machinery, furniture, fixtures, and office equipment, as well as leasehold improvements.

Interests in equity-accounted investees

The Group’s interests in equity-accounted investees comprise interests in associates and a joint venture.

Impairment of

Non-current

Non-financial

Assets

As of each reporting date, management reviews whether any indication exists that

non-financial

assets may be subject to impairment losses or reversals of impairment losses. If such indications exist, management estimates the recoverable amount of the

non-financial

Intangible assets not yet available for use are tested for impairment at least once per year.

The FVLCOD and the value in use is based on the estimated future cash flows of the cash-generating unit, discounted to their present value using a risk-adjusted

pre-tax

interest rate. The future cash flows are determined based on the long-term planning approved by the management as applicable as of the date when the impairment test is conducted.

Inventories

Inventories are recognized at the lower of cost or net realizable value. The cost (including costs of purchase and manufacturing costs) is determined based on the moving average price of the item.

Financial Instruments

i) Financial Assets

On initial recognition, a financial asset is classified as measured at:

•

AC – amortised cost

•

FVOCI – debt investment and equity investment

•

FVTPL – Fair value through profit or loss

Derivative Financial Instruments

Embedded derivatives are separated from the host contract and accounted for separately if the host contract is not a financial asset and certain criteria are met.

Derivatives are initially measured at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognized in profit or loss.

Impairment of Financial Assets

The Company holds the following instruments as financial assets that are subject to the credit loss model in accordance with IFRS 9:

•

Trade receivables

•

Other financial assets

•

Cash and cash equivalents

The Company also recognizes loss allowances for expected credit losses (“ECL”) on lease receivables, which are disclosed as part of trade and other receivables

12-months

For trade and other receivables, Mynaric applies the simplified approach under which lifetime ECL is recognized without monitoring the change in customers’ credit risk.

Impairment losses, including reversals of impairment losses or impairment gains, are presented as other income, net in the consolidated statement of profit and comprehensive income.

ii) Financial Liabilities

Financial liabilities are measured at fair value upon initial recognition, less any directly attributable transaction costs in the case of loans and liabilities.

The Company’s financial liabilities comprise trade and other payables as well as liabilities to banks, including overdraft credits.

The subsequent measurement of financial liabilities depends on their classification, as described below:

Financial liabilities measured at fair value through profit or loss

A financial liability is classified as held for trading if it is acquired for the purpose of repurchasing it in the near term.

Gains or losses on financial liabilities held for trading are recognized in profit or loss.

Financial liabilities measured at amortized cost (“FLAC”)

Financial liabilities are derecognized when the contractual obligations are discharged, canceled, or expire. Financial liabilities are classified as

non-current

liabilities unless settlement of the financial liabilities is due within 12 months after the end of the reporting period, in which case they are classified as current.

Taxes

Current taxes

Deferred taxes

Deferred tax assets and liabilities are offset if the deferred taxes refer to income taxes levied by the same taxation authority and if the current taxes are offset against each other.

Changes in deferred tax assets and liabilities are generally recognized through profit and loss, except for changes recognized in other comprehensive income or directly in equity.

Share issue costs

Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from the capital reserve.

Equity-settled share-based payment

Provisions

non-current

For long-term provisions with an interest portion the increase in the amount of a provision reflecting the time value of money is recognized as interest expense in the financial result.

Provisions are reviewed as of each reporting date and adjusted to the current best estimate.

Provisions for Onerous Contracts

Leases

i) The Company as lessee

The Company presents all leases on the face of the statement of financial position with the exception of short-term leases and leases for

low-value

assets. It recognizes liabilities for lease payments to be made and

right-of-use

assets for the right to use the underlying asset.

Right-of-use

assets

The Company recognizes

right-of-use

assets as of the commencement date (i.e., the date on which the underlying leased asset is available for use).

Right-of-use

assets are measured at cost less accumulated depreciation and accumulated impairment losses, if any, and adjusted for any remeasurement of the lease liabilities. The cost of the

right-of-use

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and expected useful life of the leased asset,

follows:

•

Real estate – 3 to 10 years

•

Other leases – 3 to 5 years

If the group is certain to exercise a purchase option, the

right-of-use

asset is depreciated over the underlying asset’s useful life, as follows:

•

Other leases – 10 to 15 years

right-of-use

assets are subject to impairment testing in the same manner as property, plant and equipment described in note 3.2 h).

Lease liabilities

On the commencement date, the Company recognizes the lease liability at the present value of the lease payments to be made over the lease term. The lease payments comprise fixed payments (including

in-substance

non-cancelable

period of a lease and any periods covered by an option to extend the lease if the lessee is reasonably certain to exercise such option.

right-of-use

lease payments following a change in the index or rate used to determine these payments), or changes in the assessment of an option to purchase the underlying asset.

Short-term leases and leases for

low-value

assets

low-value

assets. Lease payments for short-term leases and for leases for

low-value

assets are recognized as an expense on a straight-line basis over the lease term.

ii) The Company as a lessor

The Company recognizes payments received related to lease under operating leases as income on a straight-line basis over the lease term as part of other operating income.

3.3.	Changes in accounting policies

Newly issued financial reporting standards and interpretations

•

Property, Plant and Equipment: Proceeds before intended use – Amendments to IAS 16

•

Reference to the Conceptual Framework – Amendments to IFRS 3

•

Onerous Contracts – Cost of Fulfilling a Contract Amendments to IAS 37

•

Annual Improvements to IFRS Standards 2018 – 2020 (IFRS 9, IFRS 16, IFRS 1, IAS 41)

The Group has adopted all the foregoing amendments in 2022, none of which had a significant impact on the consolidated financial statements.

Newly issued financial reporting rules that have not yet been applied


	Date of application
IFRS 17 Insurance Contracts		Jan. 1, 2023
Classification of Liabilities as Current or Non-current – Amendments to IAS 1		Jan. 1, 2024
Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2		Jan. 1, 2023
Definition of Accounting Estimates – Amendments to IAS 8		Jan. 1, 2023
Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)		Jan. 1, 2023
Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12		Jan. 1, 2023

Income Taxes

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Income Taxes

15.	Income Taxes


	For the years ended
€ thousand	December 31, 2022		December 31, 2021
Loss before taxes		-73,806		-43,686
Expected taxes applying the domestic tax rate of 27.725% (previous year: 27.725%)		-20,463		-12,112
Foreign tax rate differential		-19		-85
Tax effect of expenses that are not deductible for tax purposes / tax adjustments		267		192
Tax effect from losses incurred in the current year and deductible temporary differences for which no deferred taxes were recognized		18,160		15,650
Recognition of previously unrecognized deferred tax assets from deductible temporary differences and on loss carryforwards and reversal of deductible temporary differences / utilization of loss carryforwards for which no deferred taxes were previously recognized		-448		0
Write-up/-down of deferred tax assets		451		-2,123
Effect of equity-settled share-based payments		1,629		233
Other		399		37
Tax expense for the fiscal year		-24		1,791

Due to the previous

start-up

losses, deferred tax assets were recognized, only to the extent of taxable temporary differences. Accordingly, no deferred taxes were recognized for corporation tax loss carryforwards in Germany in the amount of €157,043 thousand (2021: €97,469 thousand) and for trade tax loss carryforwards in Germany in the amount of €154,986 thousand (2021: €96,320 thousand). The same applies to foreign tax loss carryforwards in the amount of €17,552 thousand (2021: €6,843 thousand). Deductible temporary differences were not recognized in the amount of €1,699 thousand (2021: €1,519 thousand). The utilization of the tax loss carryforwards and deductible temporary differences is ensured to the extent that sufficient taxable temporary differences will be available after the deduction of amounts corresponding to minimum taxation legislation in Germany for each particular year of usage.

As of Dec

ember

31, 2022, domestic loss carryforwards totaled €168,538 thousand for corporation tax and €166,481 thousand for trade tax (2021: €109,662 thousand and €108,514 thousand, respectively). These loss carryforwards do not expire. Foreign tax loss carryforwards in the amount of €648 thousand will expire in 2037 if not used (2021: €

648

thousand). Foreign tax loss carryforwards in the amount of €16,904 thousand (2021: €6,195 thousand) do not expire.

Balance of deferred tax assets and liabilities:


	Dec. 31, 2022				Dec. 31, 2021				Jan. 1 – Dec. 31, 2022		Jan. 1 – Dec. 31, 2021
€ thousand	Deferred tax assets		Deferred tax liabilities		Deferred tax assets		Deferred tax liabilities		Changes recognized in profit or loss
Intangible assets		12		4,901		1		5,419		529		-486
Leases		29		0		2		0		27		8
Property, plant, and equipment		292		0		101		0		191		59
Other non-financial assets		0		48		0		0		-48		0
Inventories		0		121		79		0		-200		71
Provisions		56		1		110		23		-32		82
Other financial and non-financial liabilities		0		273		0		22		-251		-28
Tax loss carryforwards and tax credits		3,187		0		3,380		0		-193		-1,497
Offsetting		-3,577		-3,577		-3,673		-3,673		0		0
Total		0		1,767		0		1,791		24		-1,791

Other Financial Liabilities

12 Months Ended

Dec. 31, 2022

Disclosure Of Other Financial Liabilities [Abstract]

Other Financial Liabilities

29. Other Financial Liabilities

The current other financial liabilities comprise the following:


€ thousand	December 31, 2022		December 31, 2021
Loan Agreement		14,440		0
Other financial liabilities		339		37
Total		14,779		37
thereof non-current
Other financial liabilities		249		0
Total		249		0

On May 02, 2022, the Group entered into a credit agreement with Formue Nord Fokus A/S, Modelio Equity AB (publ) and Munkekullen 5 förvaltning AB as lenders for a credit line of €25 million until June 30, 2023. A loan in a nominal amount of €13,110 thousand has been disbursed hereunder on May 3, 2022, which is presented together with accrued interest in the amount of €1,330 thousand as Loan Agreement in the table above. The loan contains a prepayment option which enables the group to prepay the loan early. This option was bifurcated from the debt host contract. The prepayment option is recognized as an embedded derivative and is presented on statement of financial position under Other financial and

non-financial

assets. The embedded derivative is measured at fair value through profit or loss. The initial option value was €454 thousand. As of December 31, 2022, the fair value of the embedded derivative was €172 thousand. The fair value change of €282 thousand is recognized under interest and similar expenses. For further information regarding the valuation methodology refer to Note 33.1.

Other Non-Financial Liabilities - Summary of Current financial and non-financial liabilities (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Detailed Information About Other Current Non Financial Liabilities [Abstract]
Liabilities due to customers	€ 15,166	€ 1,888
Loan related fee's	782	0
Liabilities for payroll, social security and payroll tax	482	435
Other	228	0
Total	€ 16,658	€ 2,323

Trade and Other Payables (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Detailed Information of Trade and Other Payables Explanatory

The following table shows the breakdown of the trade and other payables:


€ thousand	December 31, 2022		December 31, 2021
Trade payables		4,222		4,377
Other accruals		5,016		4,019
Total		9,238		8,396

Financial Instruments And Financial Risk Management - Summary Of Sensitivity Analysis Of Fair Value Measurement To Changes In Unobservable Inputs, Assets (Detail) - Prepayment Option of the Loan [member] € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€)
Interest rate, measurement input [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Increase	€ 5
Decrease	(5)
Credit spread, measurement input [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Increase	(29)
Decrease	€ 29

Depreciation, Amortization and Impairment - Summary of Depreciation, Amortization and Impairment (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Depreciation and amortisation expense [abstract]
Amortization of intangible assets	€ 1,545	€ 1,267	€ 215
Impairment of intangible assets	1,531	0	0
Depreciation of property, plant, and equipment	3,254	1,994	823
Depreciation of right-of-use assets	1,659	1,257	805
Total	€ 7,989	€ 4,518	€ 1,843

Intangible Assets - Additional Information (Detail) - EUR (€) € in Thousands		12 Months Ended
	Mar. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Development projects expenses		€ 56	€ 79	€ 1,010
Useful life of intangible assets	15 years
Post-tax discount rate		19.07%	17.66%	17.25%
Debt leveraging rate		14.60%	17.00%	25.10%
Market premium rate		7.50%	8.00%	8.00%
Risk premium rate		10.00%	11.00%	10.00%
Development costs expense		€ 18,019	€ 17,830	€ 6,203
Development costs capitalized		967	2,845	8,248
Total development cost		18,986	20,675	14,449
Capitalised development expenditure [member] \| Condor Meo [member]
Disclosure of detailed information about intangible assets [line items]
Impairment of intangible assets		€ 1,531	€ 0	€ 0

Own Work Capitalized

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Own Work Capitalized

13.	Own Work Capitalized

Own work capitalized consists of costs that are used to construct property, plant and equipment or develop intangible assets. This line item is a contra account to other profit and loss statement captions presented below. For a determination of the net basis of those costs the amounts in the table below needs to be deducted from the respective line items.


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Cost of materials		689		1,995		4,073
Personnel expenses		665		1,906		3,921
Depreciation and Amortization		112		287		802
Other operating expenses		101		427		579
Total		1,567		4,615		9,375

The following table shows the breakdown of own work capitalized:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Development costs		968		2,845		8,248
Property, plant and equipment		599		1,770		1,127
Total		1,567		4,615		9,375

Equity-Accounted Investees	12 Months Ended
Equity-Accounted Investees	Dec. 31, 2022
Investments accounted for using equity method [abstract]
Equity-Accounted Investees	20. Equity-Accounted Investees Joint Venture – UNIO In July 2022, Mynaric AG entered into a joint venture agreement with Isar Aerospace Technologies GmbH, REFLEX aerospace GmbH, and SES Astra Services Europe S.a.r.l. and established UNIO Enterprise GmbH, Munich. The share capital amounted to €25,000 and the shareholding is 25% for each shareholder. The Group recognized UNIO as equity-accounted investee in the Group’s condensed consolidated statements of financial position.

Equity - Additional Information (Detail)							12 Months Ended
Equity - Additional Information (Detail)	Aug. 31, 2022 EUR (€) shares € / shares	Jul. 31, 2022 EUR (€) shares	May 14, 2021 EUR (€) € / shares shares	Jun. 12, 2020 EUR (€) € / shares shares	Jul. 02, 2019 EUR (€)	Sep. 08, 2017 EUR (€)	Dec. 31, 2022 EUR (€) € / shares shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Jul. 14, 2022 EUR (€) € / shares shares	May 14, 2021 $ / shares	Jan. 01, 2021 EUR (€) € / shares
Disclosure of classes of share capital [line items]
Share capital							€ 5,668,000	€ 5,243,000
Issue of equity							11,201,000	66,542,000	€ 70,643,000
Conversion and purchase rights in the issuance of bonds replaceable with share certificates							2,619,974,000	2,046,474,000	1,485,652,000
Authorized capital							2,605,325,000	880,325,000	2,659,089,000
Issued capital [member]
Disclosure of classes of share capital [line items]
Issue of equity							425,000	1,248,000	1,091,000
Capital reserve [member]
Disclosure of classes of share capital [line items]
Issue of equity							10,776,000	€ 70,794,000	€ 64,052,000
L3Harris Technologies, Inc. [Member]
Disclosure of classes of share capital [line items]
Share capital		€ 11,200,000
Number Of Shares Issued \| shares		409,294
Percentage of share capital		7.20%
L3Harris Technologies, Inc. [Member] \| Issued capital [member]
Disclosure of classes of share capital [line items]
Increase (decrease) through change in equity of subsidiaries, equity		€ 409,294,000
L3Harris Technologies, Inc. [Member] \| Capital reserve [member]
Disclosure of classes of share capital [line items]
Increase (decrease) through change in equity of subsidiaries, equity		€ 10,792,060,000
2017/I Conditional Capital \| Employees Of The Company Or Its Affiliates
Disclosure of classes of share capital [line items]
Reduction in conversion and purchase rights in the issuance of bonds replaceable with share certificates						€ 1,500,000
2019 Conditional Capital
Disclosure of classes of share capital [line items]
Conversion and purchase rights in the issuance of bonds replaceable with share certificates					€ 270,000,000
2020/I Conditional Capital
Disclosure of classes of share capital [line items]
Conversion and purchase rights in the issuance of bonds replaceable with share certificates				€ 34,473,000
2020/II Conditional Capital
Disclosure of classes of share capital [line items]
Conversion and purchase rights in the issuance of bonds replaceable with share certificates							€ 1,179,679,000
2021I Authorized Capital
Disclosure of classes of share capital [line items]
Nominal value per share. \| € / shares							€ 0
Authorized capital							€ 691,827,000
2022/II Authorized Capital
Disclosure of classes of share capital [line items]
Authorized capital							188,498,000
Restricted Stock Unit Plan Related Capital Increase [Member]
Disclosure of classes of share capital [line items]
Issue of equity	€ 5,652,242,000
Restricted Stock Unit Plan Related Capital Increase [Member] \| Bottom of range [member]
Disclosure of classes of share capital [line items]
Issue of equity	16,149,000
Restricted Stock Unit Plan Related Capital Increase [Member] \| Top of range [member]
Disclosure of classes of share capital [line items]
Issue of equity	€ 5,668,391,000
Restricted Stock Unit Plan Related Capital Increase [Member] \| Restricted Stock Units [Member]
Disclosure of classes of share capital [line items]
Number of other equity instruments outstanding in share-based payment arrangement \| shares	16,149
RSUs exercised \| shares	16,149
Bearer Shares
Disclosure of classes of share capital [line items]
Share capital							€ 5,668,391					€ 5,242,948
Number Of Shares Issued \| shares							425,443
Nominal value per share. \| € / shares							€ 1					€ 1
Bearer Shares \| 2020/I Conditional Capital
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares			457,501
Bearer Shares \| 2020/II Conditional Capital
Disclosure of classes of share capital [line items]
Share capital				€ 1,277,893
Number Of Shares Issued \| shares				1,277,893
Nominal value per share. \| € / shares				€ 0
Convertible bonds and/or bonds with warrants issued to the bearer							€ 150,000,000
Bearer Shares \| 2021/I Conditional Capital
Disclosure of classes of share capital [line items]
Share capital			€ 457,501
Nominal value per share. \| $ / shares											$ 0
Bearer Shares \| 2021/II Conditional Capital
Disclosure of classes of share capital [line items]
Share capital			€ 103,321
Number Of Shares Issued \| shares			103,321
Nominal value per share. \| € / shares			€ 0
Description of maximum term of options granted for share-based payment arrangement			May 13, 2026
Bearer Shares \| 2021I Authorized Capital
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares							1,841,827
Description of maximum term of options granted for share-based payment arrangement							May 13, 2026
Authorized capital							€ 1,841,827,000
Bearer Shares \| 2021II Authorized Capital
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares							204,647
Nominal value per share. \| € / shares							€ 0
Authorized capital							€ 204,647,000
Bearer Shares \| 2022/I Conditional Capital
Disclosure of classes of share capital [line items]
Share capital										€ 917,501
Number Of Shares Issued \| shares										917,501
Bearer Shares \| 2022/II Conditional Capital
Disclosure of classes of share capital [line items]
Share capital										€ 115,000
Number Of Shares Issued \| shares										115,000
Nominal value per share. \| € / shares										€ 0
Bearer Shares \| 2022/I Authorized Capital
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares							2,154,680
Nominal value per share. \| € / shares							€ 0
Description of maximum term of options granted for share-based payment arrangement							July 13, 2027
Authorized capital							€ 2,154,680,000
Bearer Shares \| 2022/II Authorized Capital
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares							262.147
Nominal value per share. \| € / shares							€ 0
Description of maximum term of options granted for share-based payment arrangement							July 13, 2027
Authorized capital							€ 262,147,000
Bearer Shares \| Restricted Stock Unit Plan Related Capital Increase [Member]
Disclosure of classes of share capital [line items]
Number Of Shares Issued \| shares	16,149
Nominal value per share. \| € / shares	€ 0
Bond Holders \| 2020/I Conditional Capital
Disclosure of classes of share capital [line items]
Share capital			€ 457,501
Bond Holders \| 2020/II Conditional Capital
Disclosure of classes of share capital [line items]
Share capital							1,277,893
Bond Holders \| 2021/I Conditional Capital
Disclosure of classes of share capital [line items]
Description of maximum term of options granted for share-based payment arrangement			May 13, 2026
Bond Holders \| 2022/I Conditional Capital
Disclosure of classes of share capital [line items]
Share capital							€ 917,501
Description of maximum term of options granted for share-based payment arrangement							July 13, 2027

Consolidated Statements of Changes In Equity - EUR (€) € in Thousands	Total	Share capital	Capital reserve	Prepaid share reserve	Accumulated deficit	Foreign currency translation differences
Beginning balance at Dec. 31, 2019	€ 21,740	€ 2,904	€ 46,409	€ 0	€ (27,520)	€ (53)
Issue of ordinary shares	70,643	1,091	64,052	5,500
Share issue costs	(3,397)		(3,397)
Equity-settled share-based payments	1,125		1,125
Consolidated net profit/(loss)	(19,770)				(19,770)
Other comprehensive income/(loss)	367					367
Ending balance at Dec. 31, 2020	70,708	3,995	108,189	5,500	(47,290)	314
Issue of ordinary shares	66,542	1,248	70,794	(5,500)
Share issue costs	(8,303)		(8,303)
Equity-settled share-based payments	1,942		1,942
Consolidated net profit/(loss)	(45,477)				(45,477)
Other comprehensive income/(loss)	(498)					(498)
Ending balance at Dec. 31, 2021	84,914	5,243	172,622	0	(92,767)	(184)
Issue of ordinary shares	11,201	425	10,776
Share issue costs	(262)		(262)
Equity-settled share-based payments	6,133		6,133
Consolidated net profit/(loss)	(73,782)				(73,782)
Other comprehensive income/(loss)	(411)					(411)
Ending balance at Dec. 31, 2022	€ 27,793	€ 5,668	€ 189,269	€ 0	€ (166,549)	€ (595)

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Personnel costs - Summary of Detailed Information About Stock Options (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Tranche Mr. Altan
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	56,700	56,700	56,700
Options granted	0	0	0
Options forfeited	0	0	0
Options exercised	0	0	0
Options expired	56,700	0	0
Options outstanding as of Dec. 31	0	56,700	56,700
Options exercisable as of Dec. 31	0	56,700	56,700
2021 Stock Option Plan \| Tranche 2021 I
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	100,000	0
Options granted	0	100,000
Options forfeited	0	0
Options exercised	0	0
Options expired	40,000	0
Options outstanding as of Dec. 31	60,000	100,000	0
Options exercisable as of Dec. 31	0	0
2020 Stock Option Plan \| Tranche 2020 I
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	14,000	14,000	0
Options granted	0	0	14,000
Options forfeited	0	0	0
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	14,000	14,000	14,000
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 I
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	93,800	107,100	107,400
Options granted	0	0	0
Options forfeited	300	13,300	300
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	93,500	93,800	107,100
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 II
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	20,000	20,000	20,000
Options granted	0	0	0
Options forfeited	0	0	0
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	20,000	20,000	20,000
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 III
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	12,500	14,550	0
Options granted	0	0	19,850
Options forfeited	5,100	2,050	5,300
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	7,400	12,500	14,550
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 IV
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	53,000	53,000	0
Options granted	0	0	53,000
Options forfeited	0	0	0
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	53,000	53,000	53,000
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 V
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	26,600	26,600	0
Options granted	0	0	26,600
Options forfeited	8,600	0	0
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	18,000	26,600	26,600
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 VI
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	7,000	13,500	0
Options granted	0	0	13,500
Options forfeited	1,000	6,500	0
Options exercised	0	0	0
Options expired	0	0	0
Options outstanding as of Dec. 31	6,000	7,000	13,500
Options exercisable as of Dec. 31	0	0	0
2019 Stock Option Plan \| Tranche 2019 VII
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	6,000	0
Options granted	0	6,000
Options forfeited	0	0
Options exercised	0	0
Options expired	0	0
Options outstanding as of Dec. 31	6,000	6,000	0
Options exercisable as of Dec. 31	0	0
2019 Stock Option Plan \| Tranche 2019 VIII
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	12,350	0
Options granted	0	14,350
Options forfeited	1,500	2,000
Options exercised	0	0
Options expired	0	0
Options outstanding as of Dec. 31	10,850	12,350	0
Options exercisable as of Dec. 31	0	0
2019 Stock Option Plan \| Tranche 2019 IX
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	5,000	0
Options granted	0	5,000
Options forfeited	0	0
Options exercised	0	0
Options expired	0	0
Options outstanding as of Dec. 31	5,000	5,000	0
Options exercisable as of Dec. 31	0	0
2019 Stock Option Plan \| Tranche 2019 X
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	0
Options granted	2,500
Options forfeited	0
Options exercised	0
Options expired	0
Options outstanding as of Dec. 31	2,500	0
Options exercisable as of Dec. 31	0
2018 Stock Option Plan \| Tranche 2018
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1		0	2,200
Options granted			0
Options forfeited			2,200
Options exercised			0
Options expired			0
Options outstanding as of Dec. 31			0
Options exercisable as of Dec. 31			0
2022 Stock Option Plan
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options granted	108,000
2022 Stock Option Plan \| Tranche 2022 I
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items]
Options outstanding as of Jan. 1	0
Options granted	108,000
Options forfeited	0
Options exercised	0
Options expired	0
Options outstanding as of Dec. 31	108,000	0
Options exercisable as of Dec. 31	0

Related Party Disclosures (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of remuneration granted to the management board

The remuneration granted to the Management Board in fiscal year 2022 is broken down as follows:


	Short-term employee benefits				Equity-settled share-based payments
Year	Basic remuneration in € thousand		Short-term variable remuneration in € thousand		Number of stock options granted		Recognized as expense in € thousand		Total in € thousand
2022		1,380		488		108,000		1,818		3,686
2021		713		113		100,000		332		1,158

Summary annual remuneration for the supervisory board

The annual remuneration for the Supervisory Board is as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Dr. Manfred Krischke		151		80		40
Peter Müller-Brühl		121		50		20
Steve Geskos		101		32		0
Wincent Wobbe		67		19		0
Hans Koenigsmann		66		12		0
Dr. Gerd Gruppe		0		39		30
Thomas Hanke		0		16		11
Dr. Thomas Billeter		0		15		20
Thomas Mayrhofer		0		0		9
Total		506		263		130

Summary of detailed information about board member's share holdings explanatory

Based on available information, the board members have the following shareholdings:


Number of shares	December 31, 2022		December 31, 2021		Change
Peter Müller-Brühl		4,445		4,445		0
Joachim Horwath		220,527		220,527		0
Bulent Altan		1,136		1,136		0
Stefan Berndt-von Bülow		174		174		0

Net Finance Costs - Summary of Financial Result (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
FINANCIAL INCOME
Other interest income from loans and receivables	€ 0	€ 0	€ 18
Total	0	0	18
FINANCIAL EXPENSES
Interest and similar expenses on loans	(2,403)	(2,196)	(918)
Interest on lease obligations	(229)	(185)	(137)
Borrowing costs capitalized in accordance with IAS 23	87	233	1,055
Total	(2,545)	(2,148)	0
Net foreign exchange gain (loss)	2,574	826	(531)
Net finance income/(costs)	€ 29	€ (1,322)	€ (513)

Right-of-use Assets

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Right-of-use Assets

19.	Right-of-Use Assets

Cost


€ thousand	Real estate leases		Other leases		Total
Balance as of Jan. 1, 2020		7,289		11		7,300
Exchange rate differences		-77		0		-77
Additions		2,004		8		2,012
Balance as of Dec. 31, 2020		9,216		19		9,235
Exchange rate differences		168		0		168
Additions		1,995		0		1,995
Disposals		-11		0		-11
Balance as of Dec. 31, 2021		11,368		19		11,387
Exchange rate differences		196		0		196
Additions		688		750		1,438
Disposals		-5		-11		-16
Balance as of Dec. 31, 2022		12,247		758		13,005

Depreciation


€ thousand	Real estate leases		Other leases		Total
Balance as of Jan. 1, 2020		488		2		490
Exchange rate differences		-2		0		-2
Depreciation for the year		801		4		805
Balance as of Dec. 31, 2020		1,287		6		1,293
Exchange rate differences		17		0		17
Depreciation for the year		1,252		5		1,257
Disposals		-7		0		-7
Balance as of Dec. 31, 2021		2,549		11		2,560
Exchange rate differences		13		0		13
Depreciation for the year		1,647		13		1,660
Disposals		0		-11		-11
Balance as of Dec. 31, 2022		4,209		13		4,222

Carrying amount


€ thousand	Real estate leases		Other leases		Total
Carrying amount as of Dec. 31, 2020		7,929		13		7,942
Carrying amount as of Dec. 31, 2021		8,819		8		8,827
Carrying amount as of Dec. 31, 2022		8,038		744		8,782

The Company has entered into leases for real estate, machinery as well as operating and office equipment that it uses for its operations. Real estate leases have terms of between five and 10 years. The term for operating and office equipment ranges from three to five years. The rental contracts for machinery ranges from four to six years and contain purchase options which management expects to exercise. Therefore, the useful life of these assets ranges from

10-15

years. The obligations of the Company from its lease agreements are collateralized through the lessor’s ownership of the leased assets. Several lease agreements contain extension and termination options that are described in more detail below.

The Company has also entered into lease agreements for properties and operating and office equipment with a term of not more than 12 months, as well as leases for

low-value

office equipment. For these leases, the Company applies the practical expedients applicable to short-term leases and leases for

low-value

assets.

The additions presented during the year ended December 31, 2022, in the amount of €1,438 thousand (2021: €1,995 thousand, 2020: €2,004)) relating to leases of machinery and rent increases of real estate leases.

The following amounts were recognized in profit or loss:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Interest expenses for lease liabilities		229		185		137
Expenses for short-term leases		26		13		0
Expenses for leases of low-value assets		6		6		5

The Company’s cash outflows for leases amounted to €1,942 thousand in 2022 (2021: €1,241 thousand, 2020: €816 thousand).

Several real estate’s leases include extension options. Wherever possible, the Company seeks to include extension options when entering into new leases in order to ensure operational flexibility. The extension options can be exercised only by the Company, not by the lessor. The Company assesses on the commencement date whether an exercise of the extension option is reasonably certain. If a significant event or a significant change in circumstances outside of the Company’s control occurs, the Company reassesses whether the exercise of the extension option is reasonably certain.

The following table shows the undiscounted potential future lease payments from the exercise of extension options:

€ thousand

Within five years

Over five years

Total

Extension options that are not expected to be exercised

1,246

7,862

9,108

The following table shows the undiscounted future payments for a not yet commenced leasing contract. The probable commencement date is the August 1, 2023.

€ thousand

Within five years

Over five years

Total

Future payments for a not yet commenced leasing contract

11,183

14,136

25,319

Basis of Consolidation and Accounting Policies - Summary of Consolidated Subsidiaries (Detail)	12 Months Ended
	Dec. 31, 2022
Mynaric Lasercom GmbH, Gilching
Disclosure of subsidiaries [line items]
Shareholding	100.00%
Consolidation	fully consolidated
Mynaric Systems GmbH, Gilching
Disclosure of subsidiaries [line items]
Shareholding	100.00%
Consolidation	fully consolidated
Mynaric USA, Inc., Los Angeles
Disclosure of subsidiaries [line items]
Shareholding	100.00%
Consolidation	fully consolidated
Mynaric Government Solutions Inc Arlington USA [Member]
Disclosure of subsidiaries [line items]
Shareholding	100.00%
Consolidation	fully consolidated

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2022 shares
Document Information [Line Items]
Document Type	20-F/A
Amendment Flag	true
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Registrant Name	Mynaric AG
Entity Central Index Key	0001850453
Entity File Number	001-41045
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Address, Address Line One	Dornierstraße 19
Entity Address, City or Town	Gilching
Entity Address, Country	DE
Entity Incorporation, State or Country Code	2M
Entity Address, Postal Zip Code	82205
Document Accounting Standard	International Financial Reporting Standards
ICFR Auditor Attestation Flag	false
Entity Common Stock, Shares Outstanding	5,668,391
Entity Shell Company	false
Auditor Name	KPMG AG Wirtschaftsprüfungsgesellschaft
Auditor Firm ID	1021
Auditor Location	Munich, Germany
Amendment Description	Mynaric AG (the “Company”) is filing this Amendment No. 1 (the “Amendment No. 1”) to amend its annual report on Form 20-F for the fiscal year ended December 31, 2022 as filed with the Securities and Exchange Commission on May 1, 2023 (the “Original Filing”), to address a comment from the staff of the SEC (the “Staff”) in relation to the report of the independent registered public accounting firm in the Original Filing. In the Original Filing, the report of the independent registered public accounting firm (the “Auditor Report”) inadvertently omitted the name and conformed signature of the independent auditor, KPMG AG Wirtschaftsprüfungsgesellschaft, although a signed copy of the Auditor Report had been provided by KPMG AG Wirtschaftsprüfungsgesellschaft. This Amendment No. 1 is being filed solely to address the Staff’s comment as set out above and in keeping with the requirements of Rule 2-02 of Regulation S-X promulgated by the Securities and Exchange Commission and to provide the correct Auditor Report. This Amendment No. 1 speaks as of the date of the Original Filing, or May 1, 2023. Except as required to reflect the amendment in response to the Staff’s comments, this Amendment No. 1 does not amend, update or restate any of the information previously included in the Original Filing, nor does this Amendment No. 1 reflect any event that has occurred after the date of the Original Filing. Accordingly, this Amendment No. 1 should be read in conjunction with the Original Filing and the Company’s other filings with the SEC subsequent to May 1, 2023. The exhibits to this Amendment No. 1 include updated certificates in Exhibits 12.1, 12.2, 13.1, 13.2 (new certifications by the Company’s current chief executive officer and chief financial officer as required by Rule 12b- 15 under the Securities Exchange Act of 1934, as amended) and Exhibit 15.1 (consent of independent registered public accounting firm).
Ordinary shares
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares, no par value
Security Exchange Name	NASDAQ
No Trading Symbol Flag	true
ADR
Document Information [Line Items]
Title of 12(b) Security	American Depository Shares
Trading Symbol	MYNA
Security Exchange Name	NASDAQ
Business Contact
Document Information [Line Items]
Contact Personnel Name	Stefan Berndt-von Bülow
Entity Address, Address Line One	Dornierstraße 19
Entity Address, City or Town	Gilching
Entity Address, Country	DE
Entity Address, Postal Zip Code	82205
City Area Code	+49
Local Phone Number	(0) 8105 79990
Contact Personnel Email Address	stefan.berndtvonbuelow@mynaric.com

Segment reporting and information on geographical areas - Summary of Revenue and Non-Current Assets Breakage Based on Geographical Areas (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of geographical areas [line items]
Revenue	€ 4,422	€ 2,355	€ 679
Intangible assets	18,058	19,969
Property, plant and equipment	22,309	16,768
Right-of-use assets	8,782	8,827	7,942
Non-current assets	49,953	45,975
Total	49,149	45,564	35,901
USA
Disclosure of geographical areas [line items]
Revenue	4,422	2,355	467
Property, plant and equipment	3,720	2,278	226
Right-of-use assets	2,335	2,774	1,056
Non-current assets	6,055	5,052	1,282
Canada
Disclosure of geographical areas [line items]
Revenue	0	0	122
Belgium
Disclosure of geographical areas [line items]
Revenue	0	0	90
Germany
Disclosure of geographical areas [line items]
Intangible assets	18,058	19,969	17,884
Property, plant and equipment	18,589	14,490	9,849
Right-of-use assets	6,447	6,053	6,886
Non-current assets	€ 43,094	€ 40,512	€ 34,619

Consolidated Statements of Profit/Loss and Other Comprehensive Income/Loss (Parenthetical) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of profit or loss and other comprehensive income [abstract]
Capitalised cost, cost of materials	€ (689)	€ (1,995)	€ (4,073)
Capitalised costs, personnel costs	(665)	(1,906)	(3,921)
Capitalised costs, depreciation and amortisation	(112)	(287)	(802)
Capitalised costs, other operating costs	€ (101)	€ (427)	€ (579)

Other Financial Liabilities - Summary Of Other Financial Liabilities (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure Of Other Financial Liabilities [Abstract]
Loan Agreement	€ 14,440	€ 0
Other financial liabilities	339	37
Total	14,779	37
thereof non-current
Other financial liabilities	249	0
Total	€ 249	€ 0

Personnel costs - Additional Information (Detail) € / shares in Units, € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 EUR (€)	Dec. 31, 2019 shares € / shares
Personnel Costs [Line Items]
Share based payments	€ 6,133	€ 1,942	€ 1,125
Mr Altan
Personnel Costs [Line Items]
Incremental fair value of option granted \| € / shares				€ 25
Number of stock options granted \| shares				56,700
2019 Stock Option Plan
Personnel Costs [Line Items]
Share based compensation arrangement award vesting period				4 years
Share based compensation arrangement share option exercise period				3 years
Description about how options will be exercised share options granted				volume-weighted six-month average price of the Company shares in Xetra trading (or a comparable successor system) at the Frankfurt Stock Exchange exceeds the exercise price by 20% or more
Incremental fair value of option granted \| € / shares				€ 5.93
2020 Stock Option Plan
Personnel Costs [Line Items]
Share based compensation arrangement award vesting period			4 years
Share based compensation arrangement share option exercise period			3 years
Description about how options will be exercised share options granted			the volume-weighted six-month average price of the Company shares in Xetra trading (or a comparable successor system) at the Frankfurt Stock Exchange exceeds the exercise price by 20% or more
2021 Stock Option Plan
Personnel Costs [Line Items]
Share based compensation arrangement award vesting period		4 years
Share based compensation arrangement share option exercise period		3 years
Description about how options will be exercised share options granted		the volume-weighted six-month average price of the Company shares in Xetra trading (or a comparable successor system) at the Frankfurt Stock Exchange exceeds the exercise price by 20% or more
Share based payments	€ 2,300	€ 513	€ 1,125
2021 Stock Option Plan \| Tranche 2021 I
Personnel Costs [Line Items]
Number of stock options granted \| shares	0	100,000
Share based compensation by share based award number of options waived by the holder \| shares	40,000
2021 Stock Option Plan \| Capital reserve
Personnel Costs [Line Items]
Share based payments	€ 5,116	€ 2,815	2,303
2021 Restricted Stock Unit Plan
Personnel Costs [Line Items]
Share based compensation arrangement award vesting period		4 years
Vested entitlement settlement trading days		40 days
2021 Restricted Stock Unit Plan \| Restricted Stock Units
Personnel Costs [Line Items]
Share based payments	3,832	€ 1,429	0
2021 Restricted Stock Unit Plan \| Capital reserve \| Restricted Stock Units
Personnel Costs [Line Items]
Share based payments	€ 5,261	1,429	0
2022 Stock Option Plan
Personnel Costs [Line Items]
Number of stock options granted \| shares	108,000
Share based compensation by share based award period within which stock options may be excercised from the date of vesting	5 years
Share based compensation by share based award options issued in exchange of options waived \| shares	33,000
Incremental fair value granted modified share based payment arrangements	€ 58,378
2022 Stock Option Plan \| Share Price Performance Target
Personnel Costs [Line Items]
Share based compensation by share based award performance weightage percentage	80.00%
2022 Stock Option Plan \| ESG Performance Target
Personnel Costs [Line Items]
Share based compensation by share based award performance weightage percentage	20.00%
2022 Stock Option Plan \| Share Price And ESG Performance Target \| Bottom of range
Personnel Costs [Line Items]
Share based compensation by share based award target achievement percentage	0.00%
2022 Stock Option Plan \| Share Price And ESG Performance Target \| Top of range
Personnel Costs [Line Items]
Share based compensation by share based award target achievement percentage	100.00%
Defined Contribution Pension Plans
Personnel Costs [Line Items]
Contributions to governmental pension schemes	€ 1,799	€ 1,301	€ 872

Contract Liabilities	12 Months Ended
Contract Liabilities	Dec. 31, 2022
Text Block [Abstract]
Contract Liabilities	27. Contract Liabilities The contract liabilities in the amount of €205 thousand (December 31, 2021: €307 thousand) consist of payments made by customers in fiscal year 2022 and 2021 presented in accordance with IFRS 15.

Financial Instruments And Financial Risk Management - Summary Of Changes In Level 3 Financial Instruments (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€)
Disclosure of Detailed Information About Changes in Level 3 Financial Instruments Other Financial andNonfinancialAssets [Line Items]
Assets	€ 108,029
Assets	80,321
Other Financial and Non Financial Assets [member] \| Level 3 of fair value hierarchy [member]
Disclosure of Detailed Information About Changes in Level 3 Financial Instruments Other Financial andNonfinancialAssets [Line Items]
Assets	0
Additions	454
Disposals	0
Gains/(losses) recognized in financial income /expenses	(282)
Assets	€ 172

Basis of Consolidation and Accounting Policies - Summary of Newly Issued Financial Reporting Rules not yet Applied (Detail)	12 Months Ended
	Dec. 31, 2022
IFRS 17 Insurance Contracts
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2023
Classification of Liabilities as Current or Non-current – Amendments to IAS 1
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2024
Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2023
Definition of Accounting Estimates – Amendments to IAS 8
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2023
Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17)
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2023
Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12
Disclosure of expected impact of initial application of new standards or interpretations [line items]
Date of application	Jan. 01, 2023

Personnel costs - Summary of Detailed Information of Restricted Stock Units Under RSU Plan (Detail) - Restricted Stock Units - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Tranche 2021 I
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	67,773	0
RSUs granted	0	68,631
RSUs forfeited	13,536	858
RSUs exercised	16,149	0
RSUs expired	0	0
RSUs outstanding as of Dec. 31	37,887	67,773
RSUs exercisable as of Dec. 31	0	0
Tranche 2021 II
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	32,423	0
RSUs granted	0	32,476
RSUs forfeited	3,748	53
RSUs exercised	0	0
RSUs expired	0	0
RSUs outstanding as of Dec. 31	28,675	32,423
RSUs exercisable as of Dec. 31	0	0
Tranche 2022 I
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	0
RSUs granted	26,430
RSUs forfeited	2,055
RSUs exercised	0
RSUs expired	0
RSUs outstanding as of Dec. 31	24,375	0
RSUs exercisable as of Dec. 31	0
Tranche 2022 II
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	0
RSUs granted	28,518
RSUs forfeited	87
RSUs exercised	0
RSUs expired	0
RSUs outstanding as of Dec. 31	28,431	0
RSUs exercisable as of Dec. 31	0
Tranche 2022 III
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	0
RSUs granted	50,342
RSUs forfeited	1,537
RSUs exercised	0
RSUs expired	0
RSUs outstanding as of Dec. 31	48,805	0
RSUs exercisable as of Dec. 31	0
Tranche 2022 IV
Disclosure Of Number And Weighted Average Exercise Prices Of Other Equity Instruments [Line Items]
RSUs outstanding as of Jan. 1	0
RSUs granted	13,261
RSUs forfeited	0
RSUs exercised	0
RSUs expired	0
RSUs outstanding as of Dec. 31	13,261	0
RSUs exercisable as of Dec. 31	0

Intangible Assets - Summary Of Detailed Information About Amortization And Impairment Of Intangible Assets Other Than Goodwill (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	€ (19,969)
Amortization for the year	1,545	€ 1,267	€ 215
Ending Balance	(18,058)	(19,969)
Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	(19,545)	(17,795)
Ending Balance	(17,678)	(19,545)	(17,795)
Accumulated depreciation and amortisation [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	1,682	416	201
Amortization for the year	1,545	1,267	215
Impairment for the year	1,531
Disposals		(1)
Ending Balance	4,758	1,682	416
Accumulated depreciation and amortisation [member] \| Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	1,332	158	0
Amortization for the year	1,359	1,174	158
Impairment for the year	1,531
Disposals		0
Ending Balance	4,222	1,332	158
Accumulated depreciation and amortisation [member] \| Software And Licenses [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	350	258	201
Amortization for the year	186	93	57
Impairment for the year	0
Disposals		(1)
Ending Balance	€ 536	€ 350	€ 258

Income Taxes - Summary of Disclosing Information Relating to Tax Expenses (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Loss before taxes	€ (73,806)	€ (43,686)	€ (19,770)
Expected taxes applying the domestic tax rate of 27.725% (previous year: 27.725%)	(20,463)	(12,112)
Foreign tax rate differential	(19)	(85)
Tax effect of expenses that are not deductible for tax purposes / tax adjustments	267	192
Tax effect from losses incurred in the current year and deductible temporary differences for which no deferred taxes were recognized	18,160	15,650
Recognition of previously unrecognized deferred tax assets from deductible temporary differences and on loss carryforwards and reversal of deductible temporary differences / utilization of loss carryforwards for which no deferred taxes were previously recognized	(448)	0
Write-up/-down of deferred tax assets	451	(2,123)
Effect of equity-settled share-based payments	1,629	233
Other	399	37
Tax expense for the fiscal year	€ (24)	€ 1,791	€ 0

Intangible Assets - Summary of Detailed Information About Intangible Assets Other Than Goodwill (Detail) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	€ 19,969
Ending Balance	18,058	€ 19,969
Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	19,545	17,795
Ending Balance	17,678	19,545	€ 17,795
Gross carrying amount [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	21,651	18,300	8,981
Additions	1,165	3,360	9,319
Disposals		(9)
Ending Balance	22,816	21,651	18,300
Gross carrying amount [member] \| Capitalised development expenditure [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	20,877	17,953	8,695
Additions	1,023	2,924	9,258
Disposals		0
Ending Balance	21,900	20,877	17,953
Gross carrying amount [member] \| Software And Licenses [member]
Disclosure of detailed information about intangible assets [line items]
Beginning Balance	774	347	286
Additions	142	436	61
Disposals		(9)
Ending Balance	€ 916	€ 774	€ 347

Events After The Reporting Date - Additional Information (Detail) € / shares in Units, $ in Millions			3 Months Ended	12 Months Ended
	Apr. 25, 2023 EUR (€) € / shares shares	Nov. 30, 2022 shares	Jun. 30, 2023 USD ($)	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2020 EUR (€)	Apr. 25, 2023 USD ($) shares	Jan. 01, 2021 EUR (€)
Exit fee percentage numerator percentage of invested capital
Proceeds from issuing shares				€ 11,201,000	€ 66,542,000	€ 65,143,000
Issued capital				€ 5,668,000	€ 5,243,000
RSU Program 2022 [member]
Exit fee percentage numerator percentage of invested capital
Number of shares reserved for issue under options and contracts for sale of shares \| shares		262,147
Share based compensation arrangement award vesting period		4 years
Award vesting rights, percentage		25.00%
Bearer Shares [member]
Exit fee percentage numerator percentage of invested capital
Number Of Shares Issued \| shares				425,443
Issued capital				€ 5,668,391				€ 5,242,948
Non adjusting events after reporting period \| Subscription Agreement [member]
Exit fee percentage numerator percentage of invested capital
Share Price \| € / shares	€ 22.019
Proceeds from issuing shares	€ 12,400,000
Non adjusting events after reporting period \| Subscription Agreement [member] \| Affiliates One [Member]
Exit fee percentage numerator percentage of invested capital
Number Of Shares Issued \| shares	401,309						401,309
Percentage of shareholding	6.40%						6.40%
Non adjusting events after reporting period \| Subscription Agreement [member] \| Affiliates Two [Member]
Exit fee percentage numerator percentage of invested capital
Number Of Shares Issued \| shares	163,915						163,915
Percentage of shareholding	2.60%						2.60%
Non adjusting events after reporting period \| Subscription Agreement [member] \| Bearer Shares [member]
Exit fee percentage numerator percentage of invested capital
Number Of Shares Issued \| shares	565,224						565,224
Issued capital	€ 6,233,615
Non adjusting events after reporting period \| Credit Agreement [member]
Exit fee percentage numerator percentage of invested capital
Borrowings covenant minimum average weekly liquidity \| $			$ 10
Non adjusting events after reporting period \| Credit Agreement [member] \| Mynaric USA [member]
Exit fee percentage numerator percentage of invested capital
Credit amount	€ 74,250,000
Borrowings, maturity	five-year
Notional amount \| $							$ 75
Percentage of original issue discount	1.00%						1.00%
Borrowings floor rate	2.00%						2.00%
Borrowings, adjustment to interest rate basis	10.00%						10.00%
Percentage of interest paid in kind	3.00%						3.00%
Percentage of exit fee charged to invested capital	200.00%
Non adjusting events after reporting period \| Credit Agreement [member] \| Mynaric USA [member] \| Third Anniversary [Member]
Exit fee percentage numerator percentage of invested capital
Percentage of exit fee charged to invested capital	180.00%
Non adjusting events after reporting period \| Credit Agreement [member] \| Mynaric USA [member] \| Fourth Anniversary [Member]
Exit fee percentage numerator percentage of invested capital
Percentage of exit fee charged to invested capital	185.00%

Related Party Disclosures - Additional Information (Detail) - EUR (€)	12 Months Ended
	Dec. 31, 2022	Aug. 13, 2019
Disclosure of transactions between related parties [line items]
Percentage of fixed remuneration	40.00%
Percentage of performance related remuneration	60.00%
Percentage of event target achieved	100.00%
Remuneration	€ 60,000
Attendance fee	500,000
Dr. Peschko [member]
Disclosure of transactions between related parties [line items]
Related party expense	93,000
Trade and other payables	0
Pinsent Masons LLP [member]
Disclosure of transactions between related parties [line items]
Related party expense	5,000
Trade and other payables	0
Mr. Altan [member]
Disclosure of transactions between related parties [line items]
Number Of Shares Issued		56,700
Price per share		€ 25
Apeiron Investment Group Ltd [member]
Disclosure of transactions between related parties [line items]
Related party expense	480,000
Amounts payable, related party transactions	30,000
Audit Committee [member]
Disclosure of transactions between related parties [line items]
Remuneration	€ 20,000

Cost of materials (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Cost of Materials

The following table shows the breakdown of the cost of materials:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Raw materials and consumables used		13,007		7,736		4,715
Costs for services purchased		2,427		2,888		1,506
Total		15,434		10,624		6,221

Related Party Disclosures - Summary of Remuneration Granted To The Management Board (Detail) € in Thousands	12 Months Ended
	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 EUR (€)
Supervisory Board remuneration [line items]
Total	€ 506	€ 263	€ 130
Remuneration Granted To The Management Board For 2021 [member]
Supervisory Board remuneration [line items]
Basic remuneration		713
Short-term variable remuneration		€ 113
Number of stock options granted \| shares		100,000
Recognized as expense		€ 332
Total		€ 1,158
Remuneration Granted To The Management Board For 2022 [member]
Supervisory Board remuneration [line items]
Basic remuneration	1,380
Short-term variable remuneration	€ 488
Number of stock options granted \| shares	108,000
Recognized as expense	€ 1,818
Total	€ 3,686

Own Work Capitalized (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Summary of Detailed Information About Own Work Capitalized


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Cost of materials		689		1,995		4,073
Personnel expenses		665		1,906		3,921
Depreciation and Amortization		112		287		802
Other operating expenses		101		427		579
Total		1,567		4,615		9,375

Summary of Detailed Information About Breakdown of Own Work Capitalized

The following table shows the breakdown of own work capitalized:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Development costs		968		2,845		8,248
Property, plant and equipment		599		1,770		1,127
Total		1,567		4,615		9,375

Other Operating Costs

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Other Operating Costs

11.	Other Operating Costs

Other operating costs can be broken down as follows:


	For the years ended
€ thousand	December 31, 2022		December 31, 2021		December 31, 2020
Legal and consulting fees		6,955		2,477		2,378
Insurance		4,855		803		97
Office and IT costs		4,236		3,282		790
Selling and travel costs		2,279		1,638		451
Other business supplies, equipment and services		1,835		1,396		382
Incidental rental costs and maintenance		814		696		382
Onerous contracts		0		240		0
Other costs		1,108		1,298		864
Total		22,082		11,830		5,344

Financial Instruments And Financial Risk Management - Summary Of Remaining Contractual Terms Of Financial Liabilities Including Estimated Interest Payments (Detail) - EUR (€) € in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	€ 33,727	€ 18,154
Carrying amount [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	32,959	17,460
Not later than one year [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	25,767	10,073
Later than one year and not later than two years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	2,003	1,605
Later than three years and not later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	3,585	3,148
Later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	2,372	3,328
Trade and other payables
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	9,238	8,396
Trade and other payables \| Carrying amount [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	9,238	8,396
Trade and other payables \| Not later than one year [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	9,238	8,396
Trade and other payables \| Later than one year and not later than two years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	0	0
Trade and other payables \| Later than three years and not later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	0	0
Trade and other payables \| Later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	0	0
Lease liabilities [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	9,583	9,721
Lease liabilities [member] \| Carrying amount [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	8,942	9,027
Lease liabilities [member] \| Not later than one year [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	1,901	1,640
Lease liabilities [member] \| Later than one year and not later than two years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	1,905	1,605
Lease liabilities [member] \| Later than three years and not later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	3,405	3,148
Lease liabilities [member] \| Later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	2,372	3,328
Custom other financial liabilities
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	14,906	37
Custom other financial liabilities \| Carrying amount [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	14,779	37
Custom other financial liabilities \| Not later than one year [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	14,628	37
Custom other financial liabilities \| Later than one year and not later than two years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	98	0
Custom other financial liabilities \| Later than three years and not later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	180	0
Custom other financial liabilities \| Later than five years [member]
Schedule of Remaining Contractual Terms of Financial Liabilities Including Estimated Interest Payments [Line Items]
Financial liabilities	€ 0	€ 0

Contingent Liabilities, Commitments, and Other Financial Obligations - Summary of Detailed Information About Other Financial Obligations (Detail) € in Thousands	Dec. 31, 2022 EUR (€)
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	€ 7,690
Not later than one year [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	1,655
Later than one year and not later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	3,555
Later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	2,480
Incidental Rental Costs [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	5,299
Incidental Rental Costs [member] \| Not later than one year [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	381
Incidental Rental Costs [member] \| Later than one year and not later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	2,438
Incidental Rental Costs [member] \| Later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	2,480
Software And Licenses [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	2,129
Software And Licenses [member] \| Not later than one year [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	1,012
Software And Licenses [member] \| Later than one year and not later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	1,117
Software And Licenses [member] \| Later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	0
Other [Member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	262
Other [Member] \| Not later than one year [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	262
Other [Member] \| Later than one year and not later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	0
Other [Member] \| Later than five years [member]
Disclosure Of Contingent Liabilities And Commitments And Other Financial Obligations [Line Items]
Other financial obligations	€ 0