halbergman I am revisiting my previous analysis of Gogo, Inc. (NASDAQ:NASDAQ:GOGO) in light of Q2 2024 earnings and the recent announcement of SmartSky's closing. I previously rated Gogo a strong buy for the following reasons: DCF analysis suggested a price target of $18.40, up from $8.90 at the time. Gogo's core service business continued to grow quarter-over-quarter despite expected volatility in the equipment business. Demographic trends for private jet ownership were heavily in Gogo's favor. Since ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One): ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from __________ to __________ Commission File Number: 001-35975 Gogo Inc. (Exact name of registrant as specified in its charter) Delaware 27-1650905 (State or ot ...

Revenue Performance - Total revenue for Q2 2024 was $102.1 million, a decrease of 1% year-over-year, and a decrease of 2% compared to Q1 2024[2] - Total revenue for Q2 2024 was $102,059, a slight decrease of 1.1% compared to $103,221 in Q2 2023[14] - Service revenue increased to $81,929 in Q2 2024 from $79,062 in Q2 2023, representing a growth of 3.6%[14] - Equipment revenue decreased by 16.7% to $20.130 million in Q2 2024 from $24.159 million in Q2 2023[19] Profitability Metrics - Net income for Q2 2024 was $0.8 million, a significant decrease of 99% from $89.8 million in Q2 2023, impacted by an $11.0 million unrealized loss related to a convertible note investment[2][3] - Operating income for Q2 2024 was $21,681, down 36.3% from $34,045 in Q2 2023[14] - Net income for Q2 2024 was $839, a significant decrease from $89,849 in Q2 2023[14] - Adjusted EBITDA for Q2 2024 was $30.4 million, a decrease of 31% year-over-year, including $2.2 million in operating expenses related to Gogo Galileo[3] - Adjusted EBITDA for Q2 2024 was $30.430 million, down from $44.073 million in Q2 2023, reflecting a decrease of 30.9%[19] Cash Flow and Financial Position - Free Cash Flow for Q2 2024 was $24.9 million, an increase from $13.3 million in the prior year, but a decrease from $32.1 million in Q1 2024[4] - The company expects full-year free cash flow to be in the range of $35 million to $55 million for FY 2024[21] - Net cash provided by operating activities increased to $54,606,000 for the six months ended June 30, 2024, up from $34,141,000 in the prior year[16] - The company reported a net cash provided by operating activities of $24.949 million for Q2 2024, up from $15.627 million in Q2 2023[19] Asset and Liability Overview - Total current assets increased to $344,937 as of June 30, 2024, compared to $314,594 at the end of 2023, reflecting a growth of 9.6%[15] - Cash and cash equivalents rose to $161,550 in Q2 2024 from $139,036 at the end of 2023, an increase of 16.3%[15] - Total liabilities increased to $750,666 as of June 30, 2024, compared to $740,814 at the end of 2023, marking a rise of 1.1%[15] - Long-term debt remained relatively stable at $585,060 in Q2 2024, compared to $587,501 at the end of 2023[15] - Total stockholders' equity increased to $52,011 as of June 30, 2024, from $40,725 at the end of 2023, reflecting a growth of 27.7%[15] Aircraft and Connectivity Metrics - Average Monthly Revenue per ATG aircraft online (ARPU) was a record $3,468, an increase of 3% year-over-year[2] - Total ATG aircraft online (AOL) reached 7,031, a slight decrease compared to Q2 2023, while AVANCE AOL grew to 4,215, an increase of 17% year-over-year[2] - Average monthly connectivity service revenue per ATG aircraft online increased to $3,468 for the three months ended June 30, 2024, compared to $3,371 in the same period of 2023[17] - Total ATG aircraft online at the end of June 30, 2024, was 7,031, slightly down from 7,064 in the previous year[17] - Units sold for ATG systems were 231 in the three months ended June 30, 2024, compared to 277 in the same period of 2023[17] - Average equipment revenue per ATG unit sold was $74, showing a slight increase from $73 in the previous year[17] Future Guidance and Strategic Initiatives - The company updated its 2024 guidance, projecting total revenue in the range of $400 million to $410 million, down from previous guidance of $410 million to $425 million[5] - The company plans to launch Gogo Galileo HDX in Q4 2024 and Gogo 5G in 2025, which are expected to expand the total addressable market by 60%[4] - Long-term financial targets include a Free Cash Flow target of approximately $150 million in 2025, with a compound annual growth rate of 15%-17% in revenue from 2023 through 2028[6][7]

Gogo Inc. (NASDAQ:GOGO) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Oakleigh Thorne - Chairman & Chief Executive Officer Jessi Betjemann - Executive Vice President & Chief Financial Officer Will Davis - Vice President, Investor Relations Conference Call Participants Sebastiano Petti - JP Morgan Ric Prentiss - Raymond James Scott Searle - Roth Capital Partners Simon Flannery - Morgan Stanley Louie DiPalma - William Blair Operator Good day! And welcome to the Gogo Inc’s Sec ...

For the quarter ended June 2024, Gogo (GOGO) reported revenue of $102.06 million, down 1.1% over the same period last year. EPS came in at $0.10, compared to $0.20 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $100.37 million, representing a surprise of +1.68%. The company delivered an EPS surprise of +42.86%, with the consensus EPS estimate being $0.07.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Gogo (GOGO) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 42.86%. A quarter ago, it was expected that this in-flight internet provider would post earnings of $0.06 per share when it actually produced earnings of $0.16, delivering a surprise of 166.67%.Over the last four quarters, th ...

Total Revenue of $102.1 million, down 1% Year-over-Year; Record Second Quarter Service Revenue of $81.9 million, up 4% Year-over-YearQ2 Net Income of $0.8 million; Adjusted EBITDA(1) of $30.4 millionUpdates 2024 Guidance and Long-Term TargetsBROOMFIELD, Colo., Aug. 7, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company"), the world's largest provider of broadband connectivity services for the business aviation market, today announced its financial results for the quarter ended June 30, 202 ...

Installation for Bombardier Learjet Series Aircraft STCLed by Duncan Aviation-Houston SatelliteBROOMFIELD, Colo., Aug. 1, 2024 /PRNewswire/ -- Gogo Business Aviation (NASDAQ: GOGO) today announced a collaboration with Duncan Aviation to pursue a Supplemental Type Certificate (STC) from the Federal Aviation Administration (FAA) for Gogo 5G on Bombardier Learjet 40/45/70/75 aircraft.Gogo 5G will deliver an enhanced inflight connectivity (IFC) experience in North America to this popular series of midsize aircr ...

BROOMFIELD, Colo., July 24, 2024 /PRNewswire/ -- The Board of Directors of Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company") today announced the appointment of Monte Koch as a member of the Board, effective July 17, 2024, expanding the Board from 9 to 10 directors. "Monte brings unique, deep expertise on the business aviation ecosystem and is a valuable addition to Gogo's Board," said Oakleigh Thorne, Gogo Chairman and CEO. "For nearly 20 years, Monte served on the Board of the National Business Aviation A ...

BROOMFIELD, Colo., July 19, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO), the world's largest provider of broadband connectivity services for the business aviation market, today announced that it will release its financial results for the second quarter of 2024 before the market opens on August 7, 2024. The Company will host a conference call with financial analysts the same day at 8:30 a.m. (ET).Conference Call & Web CastA live web cast of the conference call, as well as a replay, will be available online ...