Core Insights - Gogo Business Aviation is collaborating with Duncan Aviation to obtain a Supplemental Type Certificate (STC) from the FAA for Gogo 5G on Bombardier Learjet 40/45/70/75 aircraft, enhancing inflight connectivity for these midsize aircraft [1][2][3] Group 1: Company Collaboration and Offerings - The STC will provide an upgrade path for over 700 Learjet operators to faster and higher-performing inflight connectivity with the installation of AVANCE L5 and Gogo 5G provisions [2] - Gogo's AVANCE L5 system and two MB13 phased-array antennas will be part of the installation process, allowing for easy upgrades in the future [3] - Gogo is offering significant savings of up to $50,000 for operators interested in upgrading to AVANCE and provisioning for Gogo 5G [3] Group 2: Market Position and Reach - Gogo is the largest provider of broadband connectivity services for the business aviation market, with 7,136 business aircraft utilizing its broadband ATG systems as of March 31, 2024 [4] - The company has a diverse range of clients, including fractional ownership operators, charter operators, and corporate flight departments [4] - Duncan Aviation is recognized as the largest family-owned maintenance, repair, and overhaul service provider globally, with extensive experience in Gogo installations [2][5]

Core Viewpoint - Gogo Inc. has appointed Monte Koch to its Board of Directors, expanding the board from 9 to 10 members, which is expected to enhance the company's strategic direction in the business aviation market [1][2]. Company Overview - Gogo is the largest provider of broadband connectivity services for the business aviation market, offering a suite of smart cabin systems for connectivity, in-flight entertainment, and voice solutions [6]. - As of March 31, 2024, Gogo reported 7,136 business aircraft equipped with its broadband ATG systems, with 4,110 using Gogo AVANCE L5 or L3 systems, and 4,285 aircraft utilizing narrowband satellite connectivity [6]. Appointment of Monte Koch - Monte Koch brings nearly 20 years of experience from the National Business Aviation Association and over 5,000 hours as a pilot, which adds significant expertise to Gogo's Board [2][4]. - Koch's 25-year career in finance and experience as a public company director are expected to benefit Gogo as it launches new products aimed at improving inflight connectivity and capturing opportunities in the business aviation market [2][3]. Monte Koch's Background - Koch is a retired Partner of BDT & Company, managing over $20 billion in assets, and has served as Chair Emeritus of the National Business Aviation Association [4][5]. - He has a strong background in investment banking, having held senior roles at Deutsche Bank Securities, including Global Head of Real Estate Investment Banking [5].

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 ...

The Zacks Wireless National industry is likely to benefit from healthy demand trends with an accelerated 5G rollout and increased fiber densification, helping bridge the digital divide with seamless connectivity. However, high capital expenditures for infrastructure upgrades, margin erosion, inflationary pressures, supply-chain disruptions albeit at a diminishing pace and high customer inventory levels have dented the industry’s profitability.Nevertheless, T-Mobile US Inc. (TMUS) , AT&T Inc. (T) and Gogo In ...

Core Insights - Gogo Business Aviation has successfully completed over 1,000 software updates for its AVANCE system using the over-the-air (OTA) feature, significantly improving operational efficiency for fleet operators [1][2] - The OTA feature replaces the traditional USB kit method, allowing simultaneous updates across all aircraft, thus addressing logistical challenges faced by global fleet customers [2] - The AVANCE platform is designed for easy upgrades to new technologies, including Gogo Galileo and Gogo 5G, enhancing connectivity options for users [1][2] Company Overview - Gogo is the largest provider of broadband connectivity services in the business aviation market, offering a range of smart cabin systems for connectivity, in-flight entertainment, and voice solutions [4] - As of March 31, 2024, Gogo reported 7,136 business aircraft equipped with its broadband ATG systems, with 4,110 using the AVANCE L5 or L3 systems [4]

Bombardier Challenger 300 series aircraft receive priority bookingsMISSISSAUGA, ON, June 6, 2024 /PRNewswire/ - Skyservice Business Aviation ("Skyservice"), a North American leader in business aviation, will designate capacity at its Calgary, Toronto and Montreal locations for Gogo Business Aviation (NASDAQ: GOGO) AVANCE installations, enhancing the inflight experience and connectivity for flight crew and passengers.Skyservice, a Gogo-authorized dealer in Canada, has established a program to create a center ...

ALAMO Engineering to Develop EASA STC for Cessna Citation Latitude Midsize JetsGENEVA, May 28, 2024 /PRNewswire/ -- (EBACE, Booth I98) – Gogo Business Aviation (NASDAQ: GOGO) today announced it is partnering with ALAMO Engineering GmbH to develop a European Supplemental Type Certificate (STC) for the Gogo Galileo HDX antenna for Cessna Citation Latitude midsize jets."The Gogo Galileo solution for midsize and smaller aircraft is unique. It will finally provide a true broadband service to those aircraft that ...

ALAMO Engineering to Develop EASA STC for Cessna Citation Latitude Midsize Jets GENEVA, May 28, 2024 /PRNewswire/ -- (EBACE, Booth I98) – Gogo Business Aviation (NASDAQ: GOGO) today announced it is partnering with ALAMO Engineering GmbH to develop a European Supplemental Type Certificate (STC) for the Gogo Galileo HDX antenna for Cessna Citation Latitude midsize jets. "The Gogo Galileo solution for midsize and smaller aircraft is unique. It will finally provide a true broadband service to those aircraft tha ...

Exhibit 99.1 Press Release For Immediate Release Investor Relations Contact: Media Relations Contact: Will Davis Dave Mellin +1 917-519-6994 +1 303-301-3606 wdavis@gogoair.com dmellin@gogoair.com Gogo Announces First Quarter Results Total Revenue of $104.3 million, up 6% Year-over-Year; Record First Quarter Service Revenue of $81.7 million, up 4% Year-over-Year Q1 Net Income of $30.5 million; Adjusted EBITDA(1) of $43.3 million Updates 2024 Adjusted EBITDA Guidance and Reiterates Long-Term Targets BROOMFIEL ...

Part I. Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's Q1 2024 financial statements show total assets increased to $809.0 million, total revenue grew 5.8% to $104.3 million, and net income rose to $30.5 million ($0.23 per diluted share) [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets increased to $809.0 million, driven by higher cash and a new convertible note investment, while total stockholders' equity grew to $62.4 million Condensed Consolidated Balance Sheet Data (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $152,820 | $139,036 | | Total current assets | $335,305 | $314,594 | | Total assets | $808,953 | $781,539 | | **Liabilities & Equity** | | | | Total current liabilities | $79,866 | $71,996 | | Long-term debt | $586,274 | $587,501 | | Total liabilities | $746,514 | $740,814 | | Total stockholders' equity | $62,439 | $40,725 | [Unaudited Condensed Consolidated Statements of Operations](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2024, total revenue increased 5.8% to $104.3 million, operating income rose to $34.7 million, and net income grew to $30.5 million ($0.23 per diluted share), boosted by a $13.1 million gain on a convertible note Q1 2024 vs Q1 2023 Statement of Operations (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Service revenue | $81,673 | $78,499 | | Equipment revenue | $22,649 | $20,098 | | **Total revenue** | **$104,322** | **$98,597** | | Operating income | $34,674 | $31,928 | | Other (income) expense, net | $(13,099) | $31 | | Income before income taxes | $41,411 | $24,837 | | **Net income** | **$30,490** | **$20,449** | | Diluted EPS | $0.23 | $0.15 | [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash from operations significantly increased to $29.7 million, while investing activities used $2.6 million and financing activities used $13.3 million, primarily for stock repurchases Q1 2024 vs Q1 2023 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $29,657 | $18,514 | | Net cash (used in) provided by investing activities | $(2,604) | $1,559 | | Net cash used in financing activities | $(13,296) | $(7,445) | | **Increase in cash, cash equivalents and restricted cash** | **$13,784** | **$12,716** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail Gogo 5G and Galileo development, FCC reimbursement status, a $5 million convertible note investment valued at $18.1 million, and ongoing patent litigation with SmartSky Networks - Gogo is developing its Gogo 5G network, with commercial launch now expected a few months later than Q4 2024, while Gogo Galileo, a global broadband service, is targeted for Q4 2024 launch[17](index=17&type=chunk)[85](index=85&type=chunk) - The company was approved for up to **$334 million** in the FCC Reimbursement Program, with approximately **$132 million** currently allocated due to a funding shortfall, and the deadline extended to January 21, 2025[31](index=31&type=chunk)[33](index=33&type=chunk) - Gogo invested **$5 million** in a convertible note on February 26, 2024, which was valued at **$18.1 million** as of March 31, 2024, resulting in a **$13.1 million** unrealized gain[60](index=60&type=chunk)[63](index=63&type=chunk) - Gogo is involved in a patent infringement lawsuit with SmartSky Networks concerning Gogo 5G, with a trial scheduled for April 14, 2025, and Gogo has filed counterclaims[75](index=75&type=chunk)[76](index=76&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, noting a 5.8% revenue increase to $104.3 million, 19% growth in AVANCE aircraft online, and strong Adjusted EBITDA and Free Cash Flow, despite a Gogo 5G launch delay [Key Business Metrics](index=35&type=section&id=Key%20Business%20Metrics) Key business metrics for Q1 2024 show total ATG aircraft online increased to 7,136, driven by a 19% rise in AVANCE systems, with average monthly service revenue per aircraft slightly increasing to $3,458 Key Operating Metrics | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Aircraft online (at period end)** | | | | ATG AVANCE | 4,110 | 3,447 | | Gogo Biz | 3,026 | 3,599 | | **Total ATG** | **7,136** | **7,046** | | Narrowband satellite | 4,285 | 4,458 | | **Avg. monthly service revenue per aircraft** | | | | ATG | $3,458 | $3,389 | | **Units sold** | | | | ATG | 258 | 223 | [Results of Operations](index=38&type=section&id=Results%20of%20Operations) Q1 2024 total revenue increased 5.8% to $104.3 million, driven by growth in both service and equipment revenue, while engineering expenses rose 17% and other income included a $13.1 million gain on a convertible note - The increase in service revenue was due to a higher number of ATG aircraft online[97](index=97&type=chunk) - The increase in equipment revenue was due to selling more ATG units (**258** in Q1 2024 vs. **223** in Q1 2023)[97](index=97&type=chunk) - Engineering, design and development expenses increased by **17%** to **$9.2 million** due to Gogo Galileo development costs[99](index=99&type=chunk) - Total other income was **$6.7 million**, compared to an expense of **$7.1 million** in the prior year, primarily due to a **$13.1 million** unrealized holding gain on the Investment in Convertible Note[101](index=101&type=chunk) [Non-GAAP Measures](index=42&type=section&id=Non-GAAP%20Measures) The company reported increased non-GAAP metrics for Q1 2024, with Adjusted EBITDA rising to $43.3 million and Free Cash Flow growing to $32.1 million, driven by higher revenue and stronger operating cash flow Reconciliation of Non-GAAP Measures (in thousands) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net income (GAAP) | $30,490 | $20,449 | | **Adjusted EBITDA** | **$43,322** | **$39,729** | | Net cash provided by operating activities (GAAP) | $29,657 | $18,514 | | **Free cash flow** | **$32,053** | **$20,005** | [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) The company ended Q1 2024 with $152.8 million in cash, supported by an undrawn $100.0 million credit facility, and repurchased $10.1 million in shares, with management confident in sufficient liquidity for the next twelve months - The company has an undrawn **$100.0 million** revolving credit facility as of March 31, 2024[52](index=52&type=chunk)[112](index=112&type=chunk) - Under a **$50 million** share repurchase program, the company repurchased **1.1 million** shares for **$10.1 million** during Q1 2024[110](index=110&type=chunk) - Capital expenditures for Q1 2024 were **$4.2 million**, with expectations for increases due to Gogo 5G and LTE network build-outs[117](index=117&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its variable-rate Term Loan Facility, partially mitigated by $525.0 million in interest rate caps, with a 1% rate increase impacting annual interest expense by $2.0 million with hedges - The company is exposed to interest rate risk on its variable rate debt, with **$525.0 million** in interest rate caps hedging a notional amount as of March 31, 2024[120](index=120&type=chunk) - A hypothetical **1%** change in interest rates would impact annual interest expense by approximately **$2.0 million** (with hedges) or **$6.1 million** (without hedges)[120](index=120&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded the company's disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of March 31, 2024[121](index=121&type=chunk) - No material changes were made to the internal control over financial reporting during the most recent fiscal quarter[121](index=121&type=chunk) Part II. Other Information [Legal Proceedings](index=50&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in a patent infringement lawsuit by SmartSky Networks concerning Gogo 5G, with a trial scheduled for April 14, 2025, and Gogo has filed counterclaims - Gogo is being sued by SmartSky Networks for alleged patent infringement related to the Gogo 5G system, with a trial date set for April 14, 2025[75](index=75&type=chunk)[76](index=76&type=chunk) - Gogo has filed counterclaims against SmartSky, alleging that SmartSky's ATG network infringes on three Gogo patents[76](index=76&type=chunk) [Risk Factors](index=50&type=section&id=Item%201A.%20Risk%20Factors) An updated risk factor highlights the delay in the commercial launch of Gogo 5G by a few months from Q4 2024 due to a third-party chip design error, posing risks to customer retention and confidence - The commercial launch of Gogo 5G is delayed from its previously stated Q4 2024 timeline by a few months[124](index=124&type=chunk) - The delay is due to a design error in a non-5G chip component from a third-party subcontractor[124](index=124&type=chunk) - Risks from the delay include customers seeking competitor technologies, potential marketing confusion with the Gogo Galileo launch, and a decrease in customer confidence[124](index=124&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=51&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 1,138,681 shares for approximately $10.1 million under its $50 million program during Q1 2024, with $35.1 million remaining for future repurchases Issuer Purchases of Equity Securities (Q1 2024) | Period | Total Shares Purchased | Average Price Paid per Share | Approx. Dollar Value Remaining in Program | | :--- | :--- | :--- | :--- | | Jan 1-31, 2024 | 566,418 | $9.18 | $40,000,000 | | Feb 1-29, 2024 | — | $— | $40,000,000 | | Mar 1-31, 2024 | 572,263 | $8.63 | $35,073,000 | [Defaults Upon Senior Securities](index=51&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - The company reported no defaults upon senior securities[127](index=127&type=chunk) [Mine Safety Disclosures](index=51&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - This item is not applicable to the company[127](index=127&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) No director or officer trading plans (Rule 10b5-1 or non-Rule 10b5-1) were adopted, modified, or terminated during the fiscal quarter ended March 31, 2024 - No director or officer trading plans (Rule 10b5-1 or non-Rule 10b5-1) were adopted, modified, or terminated during the quarter[127](index=127&type=chunk) [Exhibits](index=52&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the 10-Q report, including employment agreements, CEO and CFO certifications, and XBRL data files