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]

Financial Data and Key Metrics Changes - Gogo's total revenue for Q2 2024 was $102.1 million, a decrease of about 1% year-over-year and 2% sequentially, primarily due to a decline in equipment revenue [35][36] - Record service revenue reached $81.9 million, up 4% over the prior year, while equipment revenue was $20.1 million, down 17% year-over-year and 11% sequentially [35][36] - Adjusted EBITDA for Q2 was $30.4 million, a 31% decrease year-over-year and 30% decrease sequentially, driven by lower equipment revenue and increased operating expenses [40][42] Business Line Data and Key Metrics Changes - Total AVANCE aircraft online grew to 4,215, an increase of 17% year-over-year, now comprising 60% of the total fleet [36] - ATG aircraft online was 7,031, reflecting a 0.5% decline year-over-year, attributed to higher CLASSIC deactivations and lower new activations [35][36] - Total ATG ARPU grew 3% year-over-year to $3,468, reflecting a price increase initiated in the first quarter [37] Market Data and Key Metrics Changes - Demand for business aviation flights remains strong, with BA flight counts up slightly by 1.1% year-over-year and flight hours per day up 35% from Q2 2019 [11] - Average megabyte consumption per day on Gogo's networks has risen 165% from Q2 2019, indicating a significant increase in passenger demand [11] - The high-end market is experiencing the biggest surge in demand, driven by cloud data storage and video conferencing needs [12] Company Strategy and Development Direction - Gogo is focused on expanding its addressable market globally and enhancing customer loyalty through improved ATG networks and product offerings [16][17] - The company is preparing to launch Gogo Galileo and Gogo 5G products, which are expected to significantly enhance service speed and expand the total addressable market by 60% [8][18] - Gogo aims to maintain a competitive edge by offering aviation-grade equipment and superior customer support compared to competitors like StarLink [21][73] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth potential, citing strong demand trends and a well-positioned product portfolio [33] - The company anticipates that 2024 will be a trough year for growth and profitability, with significant acceleration expected in free cash flow starting in 2025 [34][49] - Management highlighted the importance of customer relationships and service reliability as key differentiators in the competitive landscape [71][73] Other Important Information - Gogo received $5.7 million in FCC grant funding in Q2, with a total of $19.2 million received to date [43] - The company is on track to start shipping HDX terminals in Q4 2024 and FDX terminals in the first half of 2025 [25][26] - Gogo's long-term targets include a compound annual growth rate of approximately 15% to 17% from 2023 through 2028 [52] Q&A Session Summary Question: Expected ARPUs or price points related to Galileo and 5G pricing strategy - Management indicated that 5G ARPU would be about $2,000 higher than current ARPU, with HDX and FDX priced at premiums [56][58] Question: Drivers behind the increase in AVANCE units online - Management noted that lower new activations and higher deactivations impacted units online, but expects new activations to accelerate with the launch of new products [59][60] Question: Expected aircraft degradation and vendor financing costs - Management anticipates some degradation in total units online until new products are launched, and highlighted high legal expenses related to vendor financing issues [66][68] Question: Customer valuation of price versus coverage versus customer service - Management emphasized that customers value reliable relationships and consistent pricing, with Gogo's aviation-grade equipment being a significant differentiator [71][73] Question: Timing of the 5G launch - Management expects the 5G launch in mid-Q2 2025, with ongoing testing and validation efforts to mitigate risks [74][75]

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

Gogo Inc. (NASDAQ:GOGO) Q1 2024 Earnings Conference Call May 7, 2024 8:30 AM ET Company Participants William Davis - Vice President-Investor Relations Oakleigh Thorne - Chairman & Chief Executive Officer Jessi Betjemann - Executive Vice President & Chief Financial Officer Conference Call Participants Scott Searle - ROTH MKM Simon Flannery - Morgan Stanley Ric Prentiss - Raymond James Lance Vitanza - TD Cowen Louie DiPalma - William Blair Operator Thank you for standing by, and welcome to Gogo Inc's First Qu ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One): ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the fiscal year ended December 31, 2023 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 other ...

Gogo Inc. (NASDAQ:GOGO) Q4 2023 Results Conference Call February 28, 2024 8:30 AM ET Company Participants Will Davis - Vice President, Investor Relations Oakleigh Thorne - Chairman and CEO Jessi Betjemann - Executive Vice President and CFO Conference Call Participants Simon Flannery - Morgan Stanley Ric Prentiss - Raymond James Louie DiPalma - William Blair Sergey Dluzhevskiy - GAMCO Investors Inc Operator Good day and thank you for standing by. Welcome to Gogo Inc. Fourth Quarter 2023 Earnings Conference C ...

Investor Relations Contact: Media Relations Contact: Will Davis Dave Mellin +1 917-519-6994 +1 303-301-3606 wdavis@gogoair.com pr@gogoair.com Exhibit 99.1 Gogo Announces Fourth Quarter and 2023 Results Provides 2024 Financial Guidance and Updates Long-Term Targets Total Revenue of $97.8 million, down 10% Year-over-Year; Record Fourth Quarter Service Revenue of $80.9 million, up 5% Year-over-Year Q4 Net Income of $14.5 million; Adjusted EBITDA (1) of $35.1 million BROOMFIELD, CO - February 28, 2024 – Gogo In ...

Gogo Inc. (NASDAQ:GOGO) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET Company Participants Will Davis - Vice President, Investor Relations Oakleigh Thorne - Chairman and CEO Jessi Betjemann - Executive Vice President and CFO Conference Call Participants Richard Prentiss - Raymond James Lance Vitanza - TD Cowen Scott Searle - ROTH MKM Operator Good day and thank you for standing by. Welcome to the Q3 2023 Gogo Inc. Earnings Conference Call. At this time, all participants are in a listen-only m ...