Gogo(US:GOGO) Globenewswire·2025-05-09 11:00Core Insights - Gogo Inc. reported total revenue of $230.3 million for Q1 2025, representing a 121% increase year-over-year and a 67% increase compared to Q4 2024 [3][34] - Service revenue reached $198.6 million, up 143% year-over-year, while equipment revenue was $31.7 million, a 40% increase year-over-year [3][34] - The company achieved PMA approval for its larger LEO antenna, FDX, ahead of schedule, which is expected to enhance service revenue starting in Q1 2026 [5] Financial Performance - Net income for Q1 2025 was $12.0 million, compared to $30.5 million in Q1 2024 and a net loss of $28.2 million in Q4 2024 [3][22] - Adjusted EBITDA for Q1 2025 was $62.1 million, reflecting a 43% increase year-over-year and an 83% increase compared to Q4 2024 [3][37] - Free Cash Flow for Q1 2025 was $30.0 million, down from $32.1 million in the prior-year period but up from a negative $39.6 million in Q4 2024 [9][37] Operational Metrics - Total ATG AVANCE aircraft online grew to 4,716, a 15% increase year-over-year [3][31] - Average Monthly Connectivity Service Revenue per ATG aircraft online was $3,451, remaining flat compared to Q1 2024 [3][31] - The company shipped 59 HDX antennas year-to-date, with 38 HDX Supplemental Type Certificates under contract, targeting a total addressable market of nearly 32,000 aircraft [9][9] Strategic Outlook - Gogo reiterated its 2025 financial guidance, projecting total revenue between $870 million and $910 million and adjusted EBITDA between $200 million and $220 million [6][7] - The company anticipates Free Cash Flow in the range of $60 million to $90 million for 2025, with capital expenditures of approximately $60 million [7][39] - Gogo plans to provide longer-term financial targets later in 2025, with preliminary targets indicating 10% revenue growth and adjusted EBITDA margins in the mid-20s [8]