Financial Data and Key Metrics Changes - Gogo's total revenue for Q3 2024 was $100.5 million, reflecting a 3% year-over-year increase and a slight sequential decrease [46] - Service revenue reached $81.9 million, also up 3% year-over-year but slightly down from the previous quarter [46] - Adjusted EBITDA for Q3 was $34.8 million, a 19% decrease year-over-year but a 14% increase sequentially [58] - Free cash flow generated in Q3 was $24.6 million, up $3.6 million from the prior year [65] Business Line Data and Key Metrics Changes - Total AVANCE units online grew to 4,379, a 16% increase year-over-year, representing 62% of the ATG installed base [47][16] - Equipment revenue for Q3 was $18.7 million, with 214 AVANCE shipments, an 11% year-over-year increase but down 7% sequentially [51] - ATG ARPU reached a record $3,497, reflecting a 4% year-over-year increase [50] Market Data and Key Metrics Changes - Demand for business aviation flights increased by 2% year-over-year and 30% compared to pre-COVID Q3 2019 [11] - Data usage per hour on flights rose by 17% year-over-year and 106% from pre-COVID Q3 2019 [11] - According to Honeywell, aircraft owners are expected to invest $280 billion in approximately 8,500 new business jets by 2033, with the fastest growth in heavy jets [13] Company Strategy and Development Direction - Gogo is focusing on expanding its addressable market globally, particularly outside the U.S., and driving AVANCE penetration [18] - The planned acquisition of Satcom Direct is expected to enhance Gogo's capabilities in the MilGov market and expand its product offerings [23][25] - Gogo aims to launch Gogo Galileo and Gogo 5G products to meet increasing demand for high-bandwidth connectivity [36][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about reaccelerating growth due to new product launches and the acquisition of Satcom Direct [6][7] - The company anticipates that the acquisition will be accretive to earnings and will significantly enhance its market position [25][79] - Management acknowledged the competitive landscape but emphasized the strategic advantages of their product offerings [88] Other Important Information - Gogo's cash and short-term investments totaled $176.7 million, with a net leverage ratio of 3.0x [67] - The company expects to close the Satcom Direct acquisition by early December 2024 [92] - Gogo has withdrawn its long-term financial targets due to the pending acquisition [46][76] Q&A Session Summary Question: Is there any reason to think that the pro forma free cash flow number might shift? - Management indicated that increased debt from the acquisition will raise interest expenses, impacting free cash flow [84] Question: What is the rationale behind the Satcom Direct acquisition? - Management emphasized that the acquisition is primarily about enhancing LEO connectivity and expanding into new market segments [86] Question: What is the expected timeline for closing the Satcom Direct deal? - Management hopes to close the deal by early December, pending regulatory approvals [92] Question: How should investors think about the change in revenue growth guidance? - Management clarified that standalone Gogo's growth remains at 15% to 17%, but the combined company's guidance is more cautious due to market conditions [94]

For the quarter ended September 2024, Gogo (GOGO) reported revenue of $100.53 million, up 2.6% over the same period last year. EPS came in at $0.12, compared to $0.16 in the year-ago quarter.The reported revenue represents a surprise of +3.69% over the Zacks Consensus Estimate of $96.95 million. With the consensus EPS estimate being $0.05, the EPS surprise was +140.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expe ...

Gogo (GOGO) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 140%. A quarter ago, it was expected that this in-flight internet provider would post earnings of $0.07 per share when it actually produced earnings of $0.10, delivering a surprise of 42.86%.Over the last four quarters, the c ...

Total Revenue of $100.5 million, up 3% Year-over-Year; Third Quarter Service Revenue of $81.9 million, up 3% Year-over-YearQ3 Net Income of $10.6 million; Adjusted EBITDA(1) of $34.8 millionUpdates 2024 GuidanceRecent Strategic Galileo HDX wins with Textron Aviation and Wheels Up BROOMFIELD, Colo., Nov. 5, 2024 /PRNewswire/ -- Gogo Inc. (NASDAQ: GOGO) ("Gogo" or the "Company"), a leading global provider of broadband connectivity services for the business aviation market, today announced its financial result ...

BROOMFIELD, Colo., Nov. 4, 2024 /PRNewswire/ -- Gogo Business Aviation (NASDAQ: GOGO) announced today that its Gogo Galileo HDX electronically steerable antenna (ESA), designed to provide access to Low Earth Orbit (LEO) satellite networks for all sizes of business aircraft, has passed FAA-mandated DO-160 qualification testing."Passing DO-160 keeps us on track to receive the first-article Supplemental Type Certificate (STC) and commercially launch Gogo Galileo later this year," said Jeremy Tyler, vice presid ...

LAS VEGAS, Oct. 22, 2024 /PRNewswire/ -- (NBAA-BACE, booth 1601) – Wheels Up has reached an agreement with Gogo Business Aviation (NASDAQ: GOGO) to add Gogo Galileo HDX, the company's Low Earth Orbit (LEO) global broadband satellite solution, fleetwide."Exceptional onboard Wi-Fi is a central in-flight experience feature our members and customers value when selecting an aircraft," said George Mattson, CEO for Wheels Up. "Gogo is a long-term proven partner of ours, and their next generation Galileo HDX system ...

MISSISSAUGA, ON, Oct. 17, 2024 /PRNewswire/ - Skyservice Business Aviation ("Skyservice" or "the Company") is pleased to announce it will develop a Supplemental Type Certificate (STC) to implement Gogo Galileo HDX on Gulfstream G280 aircraft, ensuring operators have access to the latest high-speed in-flight internet solutions and positioning the Company as a leader in advancing connectivity for business aviation."At Skyservice, we are committed to staying ahead of the curve when it comes to supporting the l ...

State-of-the-Art Mobile Demo Room Coming to a City Near YouBROOMFIELD, Colo., Oct. 15, 2024 /PRNewswire/ -- Gogo Business Aviation (NASDAQ: GOGO) is launching a nationwide tour bringing its interactive Gogo Galileo experience to business aviation professionals across the United States.The state-of-the-art mobile demo room was designed to give customers and business aviation professionals from across the industry the ability to experience Gogo Galileo, the company's Low-Earth-Orbit (LEO) satellite broadband ...

Production More Than Doubled to Meet Sales ProjectionsBROOMFIELD, Colo., Oct. 14, 2024 /PRNewswire/ -- Gogo Business Aviation (NASDAQ: GOGO) is seeing unprecedented demand for Gogo Galileo HDX, the new global broadband Low-Earth-Orbit (LEO) satellite service."The response from the industry for Gogo Galileo HDX is at a fever pitch – there's been a tidal wave of demand as we rapidly approach commercial launch," said Sergio Aguirre, president and chief operating officer for Gogo. "It's clear the market is hung ...

Gogo Inc. (GOGO) recently announced a definitive deal to acquire Satcom Direct for $375 million cash and five million GOGO shares at closing. In addition, Satcom Direct is entitled to receive an additional $225 million contingent to certain performance thresholds over the next four years. Satcom Direct has an extensive international sales and service footprint and operates as the leading global Business Aviation (BA) geostationary (GEO) satellite in-flight connectivity service provider. With this deal, Gogo ...