Gogo Announces First Quarter Results
Gogo Inc. (NASDAQ: GOGO) announced strong Q1 2024 financial results, with total revenue of $104.3 million, a 6% increase year-over-year, and record service revenue of $81.7 million, up 4%. Net income was $30.5 million, a 49% increase from Q1 2023. The company repurchased shares and announced milestones for the Gogo Galileo launch. The 2024 guidance includes revenue of $410-425 million and Free Cash Flow of $20-40 million. Long-term targets project revenue growth of 15-17% from 2023-2028.
Total revenue of $104.3 million, up 6% year-over-year.
Record service revenue of $81.7 million, up 4% year-over-year.
Net income of $30.5 million, a 49% increase from Q1 2023.
Record Free Cash Flow of $32.1 million in Q1 2024.
Announcement of milestones for the Gogo Galileo launch.
Operating expenses related to Gogo Galileo of approximately $2.6 million.
Legal expenses tied to the SmartSky litigation of $5 million.
Potential delay in Gogo 5G beyond 2024.
Capital expenditures of approximately $45 million.
Insights
Total Revenue of
Q1 Net Income of
Updates 2024 Adjusted EBITDA Guidance and Reiterates Long-Term Targets
Q1 2024 Highlights
- Total revenue of
$104.3 million 6% compared to Q1 2023 and7% compared to Q4 2023.- Record service revenue of
$81.7 million 4% compared to Q1 2023 and1% compared to Q4 2023. - Equipment revenue of
$22.6 million 13% compared to Q1 2023 and increased34% compared to Q4 2023.
- Record service revenue of
- AVANCE equipment units shipped totaled 258, an increase of
16% compared to Q1 2023 and an increase of28% compared to Q4 2023. - Total ATG aircraft online ("AOL") reached 7,136, an increase of
1% compared to Q1 2023 and a decrease of1% compared to Q4 2023. - Total AVANCE AOL grew to 4,110, an increase of
19% compared to Q1 2023 and3% compared to Q4 2023. AVANCE units comprised approximately58% of total AOL as of March 31, 2024, up from49% as of March 31, 2023 and up from55% as of December 31, 2023.- Average Monthly Revenue per ATG aircraft online ("ARPU") of
$3,458 2% compared to both Q1 2023 and Q4 2023.
- Average Monthly Revenue per ATG aircraft online ("ARPU") of
- Net income of
$30.5 million 49% from$20.4 million 111% from$14.5 million $9.9 million $5 million - Diluted earnings per share was
$0.23 $0.15 $0.07
- Diluted earnings per share was
- Adjusted EBITDA(1) of
$43.3 million $2.6 million 9% compared to Q1 2023 and23% compared to Q4 2023. - Cash provided by operating activities of
$29.7 million $18.5 million $26.2 million - Record Free Cash Flow(1) of
$32.1 million $20.0 million $28.4 million - Cash and cash equivalents totaled
$152.8 million $139.0 million
- Record Free Cash Flow(1) of
- In Q1 2024, the Company repurchased approximately 1.1 million shares for a total cost of approximately
$10.1 million $15 million $9.3 million - The Company announced two milestones in April 2024 in preparation for the planned commercial launch of Gogo Galileo later this year:
- The FCC granted regulatory approval for the Gogo Galileo HDX and FDX antenna terminals for business aircraft.
- Atlas Air Service AG is developing the first European Supplemental Type Certification (STC) for the Galileo HDX antenna for the Cessna CJ Series of light jet aircraft and another STC for the Embraer Phenom 300.
"We're excited about the upcoming launches of Gogo Galileo and Gogo 5G, which will substantially increase our global addressable market and provide our customers with a step-change improvement in speed and performance," said Oakleigh Thorne, Chairman and CEO. "Additionally, our accelerating conversion of customers from our old Classic products to the AVANCE platform will allow customers to benefit from better LTE performance and provides a simple and cost-effective upgrade path to Galileo and 5G."
"Strong first quarter results drove an increase in Gogo's 2024 Adjusted EBITDA guidance to the high end of the range and supported strong share repurchases," said Jessi Betjemann, Executive Vice President and CFO. "As our strategic investments roll-off and we benefit from the launch of Gogo Galileo and 5G, we expect to generate substantial Free Cash Flow in 2025 and beyond."
2024 Financial Guidance and Long-Term Financial Targets
The Company updates the following guidance for 2024 and reiterates long-term financial targets. The guidance and targets include the impact of the Federal Communications Commission's Secure and Trusted Communications Networks Reimbursement Program ("FCC Reimbursement Program"), except for 2025 Free Cash Flow. The guidance and targets do not reflect a potential delay in Gogo 5G beyond 2024.
The Company updates the following 2024 guidance:
- Total revenue in the range of
$410 million $425 million - Adjusted EBITDA(1) at the high end of the previously guided range of
$110 million $125 million $33 million $5 million - Free Cash Flow(1)in the range of
$20 million $40 million $45 million - Capital expenditures of approximately
$45 million $30 million
The Company reiterates the following long-term financial targets:
- Revenue growth at a compound annual growth rate of approximately
15% -17% from 2023 through 2028. The Company continues to expect that Gogo Galileo will contribute revenue beginning in 2025. - Annual Adjusted EBITDA Margin(1) reaching
40% in 2028. - Free Cash Flow(1)in the range of
$150 million $200 million
(1) See "Non-GAAP Financial Measures" below |
Conference Call
The Company will host its first quarter conference call on May 7, 2024 at 8:30 a.m. ET. A live webcast of the conference call, as well as a replay, will be available online on the Investor Relations section of the Company's investor website at https://ir.gogoair.com.
Participants can also join the call by dialing +1 844-543-0451 (within
https://register.vevent.com/register/BI94b9fc1e540f40e3a15f37414b934a81
Non-GAAP Financial Measures
We report certain non-GAAP financial measurements, including Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow in the discussion above. Management uses Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow for business planning purposes, including managing our business against internally projected results of operations and measuring our performance and liquidity. These supplemental performance measures also provide another basis for comparing period-to-period results by excluding potential differences caused by non-operational and unusual or non-recurring items. These supplemental performance measurements may vary from and may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are not recognized measurements under accounting principles generally accepted in
Cautionary Note Regarding Forward-Looking Statements
Certain disclosures in this press release and related comments by our management include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our business outlook, industry, business strategy, plans, goals and expectations concerning our market position, international expansion, future technologies, future operations, margins, profitability, future efficiencies, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words "anticipate," "assume," "believe," "budget," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "future" and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release. Forward-looking statements are based on our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: our ability to continue to generate revenue from the provision of our connectivity services; our reliance on our key OEMs and dealers for equipment sales; the impact of competition; our reliance on third parties for equipment components and services; the impact of global supply chain and logistics issues and inflationary trends; our ability to expand our business outside of
Additional information concerning these and other factors can be found under the caption "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2023 as filed with the Securities and Exchange Commission ("SEC") on February 28, 2024 and in our subsequent quarterly reports on Form 10-Q as filed with the SEC.
Any one of these factors or a combination of these factors could materially affect our financial condition or future results of operations and could influence whether any forward-looking statements contained in this report ultimately prove to be accurate. Our forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
About Gogo
Gogo is the world's largest provider of broadband connectivity services for the business aviation market. We offer a customizable suite of smart cabin systems for highly integrated connectivity, inflight entertainment and voice solutions. Gogo's products and services are installed on thousands of business aircraft of all sizes and mission types from turboprops to the largest global jets, and are utilized by the largest fractional ownership operators, charter operators, corporate flight departments and individuals.
As of March 31, 2024, Gogo reported 7,136 business aircraft flying with its broadband ATG systems onboard, 4,110 of which are flying with a Gogo AVANCE L5 or L3 system; and 4,285 aircraft with narrowband satellite connectivity installed. Connect with us at www.gogoair.com.
Gogo Inc. and Subsidiaries | ||||||||
Unaudited Condensed Consolidated Statements of Operations | ||||||||
(in thousands, except per share amounts) | ||||||||
For the Three Months | ||||||||
2024 | 2023 | |||||||
Revenue: | ||||||||
Service revenue | $ | 81,673 | $ | 78,499 | ||||
Equipment revenue | 22,649 | 20,098 | ||||||
Total revenue | 104,322 | 98,597 | ||||||
Operating expenses: | ||||||||
Cost of service revenue (exclusive of amounts shown below) | 17,871 | 16,797 | ||||||
Cost of equipment revenue (exclusive of amounts shown below) | 15,786 | 18,126 | ||||||
Engineering, design and development | 9,216 | 7,879 | ||||||
Sales and marketing | 8,283 | 6,877 | ||||||
General and administrative | 14,651 | 14,199 | ||||||
Depreciation and amortization | 3,841 | 2,791 | ||||||
Total operating expenses | 69,648 | 66,669 | ||||||
Operating income | 34,674 | 31,928 | ||||||
Other expense (income): | ||||||||
Interest income | (2,048) | (1,916) | ||||||
Interest expense | 8,410 | 8,976 | ||||||
Other (income) expense, net | (13,099) | 31 | ||||||
Total other (income) expense | (6,737) | 7,091 | ||||||
Income before income taxes | 41,411 | 24,837 | ||||||
Income tax provision | 10,921 | 4,388 | ||||||
Net income | $ | 30,490 | $ | 20,449 | ||||
Net income attributable to common stock per share: | ||||||||
Basic | $ | 0.24 | $ | 0.16 | ||||
Diluted | $ | 0.23 | $ | 0.15 | ||||
Weighted average number of shares: | ||||||||
Basic | 129,272 | 129,136 | ||||||
Diluted | 132,441 | 133,602 | ||||||
Gogo Inc. and Subsidiaries | ||||||||
Unaudited Condensed Consolidated Balance Sheets | ||||||||
(in thousands) | ||||||||
March 31, | December 31, | |||||||
2024 | 2023 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 152,820 | $ | 139,036 | ||||
Accounts receivable, net of allowances of | 49,405 | 48,233 | ||||||
Inventories | 69,298 | 63,187 | ||||||
Prepaid expenses and other current assets | 63,782 | 64,138 | ||||||
Total current assets | 335,305 | 314,594 | ||||||
Non-current assets: | ||||||||
Property and equipment, net | 96,042 | 98,129 | ||||||
Intangible assets, net | 57,870 | 55,647 | ||||||
Operating lease right-of-use assets | 69,804 | 70,552 | ||||||
Investment in convertible note | 18,132 | — | ||||||
Other non-current assets, net of allowances of | 25,577 | 25,979 | ||||||
Deferred income taxes | 206,223 | 216,638 | ||||||
Total non-current assets | 473,648 | 466,945 | ||||||
Total assets | $ | 808,953 | $ | 781,539 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 22,823 | $ | 16,094 | ||||
Accrued liabilities | 47,643 | 47,649 | ||||||
Deferred revenue | 2,150 | 1,003 | ||||||
Current portion of long-term debt | 7,250 | 7,250 | ||||||
Total current liabilities | 79,866 | 71,996 | ||||||
Non-current liabilities: | ||||||||
Long-term debt | 586,274 | 587,501 | ||||||
Non-current operating lease liabilities | 71,784 | 73,047 | ||||||
Other non-current liabilities | 8,590 | 8,270 | ||||||
Total non-current liabilities | 666,648 | 668,818 | ||||||
Total liabilities | 746,514 | 740,814 | ||||||
Stockholders' equity | ||||||||
Common stock | 14 | 14 | ||||||
Additional paid-in capital | 1,404,217 | 1,402,003 | ||||||
Accumulated other comprehensive income | 14,966 | 15,796 | ||||||
Treasury stock, at cost | (173,357) | (163,197) | ||||||
Accumulated deficit | (1,183,401) | (1,213,891) | ||||||
Total stockholders' equity | 62,439 | 40,725 | ||||||
Total liabilities and stockholders' equity | $ | 808,953 | $ | 781,539 | ||||
Gogo Inc. and Subsidiaries | ||||||||
Unaudited Condensed Consolidated Statements of Cash Flows | ||||||||
(in thousands) | ||||||||
For the Three Months | ||||||||
2024 | 2023 | |||||||
Operating activities: | ||||||||
Net income | $ | 30,490 | $ | 20,449 | ||||
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||
Depreciation and amortization | 3,841 | 2,791 | ||||||
Loss on asset disposals, abandonments and write-downs | 15 | 107 | ||||||
Provision for expected credit losses | (132) | 93 | ||||||
Deferred income taxes | 10,641 | 4,273 | ||||||
Stock-based compensation expense | 4,840 | 5,041 | ||||||
Amortization of deferred financing costs and interest rate caps | 1,375 | 764 | ||||||
Accretion of debt discount | 100 | 108 | ||||||
Change in fair value of convertible note investment | (13,132) | — | ||||||
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | (1,017) | 7,405 | ||||||
Inventories | (6,111) | (5,003) | ||||||
Prepaid expenses and other current assets | (5,904) | (8,632) | ||||||
Contract assets | 6 | 557 | ||||||
Accounts payable | 4,809 | 1,191 | ||||||
Accrued liabilities | (1,442) | (9,620) | ||||||
Deferred revenue | 1,146 | (1,054) | ||||||
Accrued interest | (2) | 130 | ||||||
Other non-current assets and liabilities | 134 | (86) | ||||||
Net cash provided by operating activities | 29,657 | 18,514 | ||||||
Investing activities: | ||||||||
Purchases of property and equipment | (1,451) | (3,112) | ||||||
Acquisition of intangible assets—capitalized software | (2,720) | (1,484) | ||||||
Proceeds from FCC Reimbursement Program for property, equipment and intangibles | 28 | — | ||||||
Proceeds from interest rate caps | 6,539 | 6,087 | ||||||
Redemptions of short-term investments | — | 24,796 | ||||||
Purchases of short-term investments | — | (24,728) | ||||||
Purchase of convertible note investment | (5,000) | — | ||||||
Net cash (used in) provided by investing activities | (2,604) | 1,559 | ||||||
Financing activities: | ||||||||
Payments on term loan | (1,813) | (1,813) | ||||||
Repurchases of common stock | (10,137) | — | ||||||
Payments on financing leases | (3) | (57) | ||||||
Stock-based compensation activity | (1,343) | (5,575) | ||||||
Net cash used in financing activities | (13,296) | (7,445) | ||||||
Effect of exchange rate changes on cash | 27 | 88 | ||||||
Increase in cash, cash equivalents and restricted cash | 13,784 | 12,716 | ||||||
Cash, cash equivalents and restricted cash at beginning of period | 139,366 | 150,880 | ||||||
Cash, cash equivalents and restricted cash at end of period | $ | 153,150 | $ | 163,596 | ||||
Cash, cash equivalents and restricted cash at end of period | $ | 153,150 | $ | 163,596 | ||||
Less: non-current restricted cash | 330 | 330 | ||||||
Cash and cash equivalents at end of period | $ | 152,820 | $ | 163,266 | ||||
Supplemental cash flow information: | ||||||||
Cash paid for interest | $ | 14,207 | $ | 15,014 | ||||
Cash paid for taxes | 11 | 12 | ||||||
Non-cash investing activities: | ||||||||
Purchases of property and equipment in current liabilities | $ | 6,520 | $ | 9,973 | ||||
Gogo Inc. and Subsidiaries | ||||||||
Supplemental Information – Key Operating Metrics | ||||||||
For the Three Months | ||||||||
2024 | 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 | ||||||
Average monthly connectivity service revenue per aircraft online | ||||||||
ATG | $ | 3,458 | $ | 3,389 | ||||
Narrowband satellite | 292 | 304 | ||||||
Units sold | ||||||||
ATG | 258 | 223 | ||||||
Narrowband satellite | 41 | 49 | ||||||
Average equipment revenue per unit sold (in thousands) | ||||||||
ATG | $ | 75 | $ | 70 | ||||
Narrowband satellite | 41 | 54 | ||||||
- ATG AVANCE aircraft online. We define ATG AVANCE aircraft online as the total number of business aircraft equipped with our AVANCE L5 or L3 system for which we provide ATG services as of the last day of each period presented.
- Gogo Biz aircraft online. We define Gogo Biz aircraft online as the total number of business aircraft not equipped with our AVANCE L5 or L3 system for which we provide ATG services as of the last day of each period presented. This number excludes commercial aircraft operated by Intelsat's airline customers receiving ATG service.
- Narrowband satellite aircraft online. We define narrowband satellite aircraft online as the total number of business aircraft for which we provide narrowband satellite services as of the last day of each period presented.
- Average monthly connectivity service revenue per ATG aircraft online. We define average monthly connectivity service revenue per ATG aircraft online as the aggregate ATG connectivity service revenue for the period divided by the number of months in the period, divided by the number of ATG aircraft online during the period (expressed as an average of the month end figures for each month in such period). Revenue share earned from the ATG Network Sharing Agreement with Intelsat is excluded from this calculation.
- Average monthly connectivity service revenue per narrowband satellite aircraft online. We define average monthly connectivity service revenue per narrowband satellite aircraft online as the aggregate narrowband satellite connectivity service revenue for the period divided by the number of months in the period, divided by the number of narrowband satellite aircraft online during the period (expressed as an average of the month end figures for each month in such period).
- Units sold. We define units sold as the number of ATG or narrowband satellite units for which we recognized revenue during the period.
- Average equipment revenue per ATG unit sold. We define average equipment revenue per ATG unit sold as the aggregate equipment revenue from all ATG units sold during the period, divided by the number of ATG units sold.
- Average equipment revenue per narrowband satellite unit sold. We define average equipment revenue per narrowband satellite unit sold as the aggregate equipment revenue earned from all narrowband satellite units sold during the period, divided by the number of narrowband satellite units sold.
Gogo Inc. and Subsidiaries | ||||||||||||
Supplemental Information – Revenue and Cost of Revenue | ||||||||||||
(in thousands, unaudited) | ||||||||||||
For the Three Months | % Change | |||||||||||
2024 | 2023 | 2024 over 2023 | ||||||||||
Service revenue | $ | 81,673 | $ | 78,499 | 4.0 | % | ||||||
Equipment revenue | 22,649 | 20,098 | 12.7 | % | ||||||||
Total revenue | $ | 104,322 | $ | 98,597 | 5.8 | % | ||||||
For the Three Months | % Change | |||||||||||
2024 | 2023 | 2024 over 2023 | ||||||||||
Cost of service revenue (1) | $ | 17,871 | $ | 16,797 | 6.4 | % | ||||||
Cost of equipment revenue (1) | $ | 15,786 | $ | 18,126 | (12.9) | % | ||||||
(1) Excludes depreciation and amortization expense. |
Gogo Inc. and Subsidiaries | ||||||||||||
Reconciliation of GAAP to Non-GAAP Measures | ||||||||||||
(in thousands, unaudited) | ||||||||||||
For the Three Months | For the Three | |||||||||||
2024 | 2023 | 2023 | ||||||||||
Adjusted EBITDA: | ||||||||||||
Net income attributable to common stock (GAAP) | $ | 30,490 | $ | 20,449 | $ | 14,467 | ||||||
Interest expense | 8,410 | 8,976 | 8,249 | |||||||||
Interest income | (2,048) | (1,916) | (1,894) | |||||||||
Income tax provision | 10,921 | 4,388 | 4,636 | |||||||||
Depreciation and amortization | 3,841 | 2,791 | 4,679 | |||||||||
EBITDA | 51,614 | 34,688 | 30,137 | |||||||||
Stock-based compensation expense | 4,840 | 5,041 | 5,559 | |||||||||
Change in fair value of convertible note investment | (13,132) | — | — | |||||||||
Gain on sale of equity investment | — | — | (570) | |||||||||
Adjusted EBITDA | $ | 43,322 | $ | 39,729 | $ | 35,126 | ||||||
Free Cash Flow: | ||||||||||||
Net cash provided by operating activities (GAAP) (1) | $ | 29,657 | $ | 18,514 | $ | 26,152 | ||||||
Consolidated capital expenditures (1) | (4,171) | (4,596) | (5,371) | |||||||||
Proceeds from FCC Reimbursement Program for property, equipment and intangibles (1) | 28 | — | 1,127 | |||||||||
Proceeds from interest rate caps (1) | 6,539 | 6,087 | 6,510 | |||||||||
Free cash flow | $ | 32,053 | $ | 20,005 | $ | 28,418 | ||||||
(1) See Unaudited Condensed Consolidated Statements of Cash Flows |
Gogo Inc. and Subsidiaries | |||||||
Reconciliation of Estimated Full-Year GAAP Net Cash | |||||||
Provided by Operating Activities to Non-GAAP Measures | |||||||
(in millions, unaudited) | |||||||
FY 2024 Range | |||||||
Low | High | ||||||
Free Cash Flow: | |||||||
Net cash provided by operating activities (GAAP) | $ | 37 | $ | 57 | |||
Consolidated capital expenditures | (45) | (45) | |||||
Proceeds from FCC Reimbursement Program for property, equipment and intangibles | 8 | 8 | |||||
Proceeds from interest rate caps | 20 | 20 | |||||
Free cash flow | $ | 20 | $ | 40 | |||
Definition of Non-GAAP Measures
EBITDA represents net income attributable to common stock before interest expense, interest income, income taxes and depreciation and amortization expense.
Adjusted EBITDA represents EBITDA adjusted for (i) stock-based compensation expense, (ii) change in fair value of convertible note investment and (iii) gain on sale of equity investment. Our management believes that the use of Adjusted EBITDA eliminates items that management believes have less bearing on our operating performance, thereby highlighting trends in our core business which may not otherwise be apparent. It also provides an assessment of controllable expenses, which are indicators management uses to determine whether current spending decisions need to be adjusted in order to meet financial goals and achieve optimal financial performance.
We believe that the exclusion of stock-based compensation expense from Adjusted EBITDA provides a clearer view of the operating performance of our business and is appropriate given that grants made at a certain price and point in time do not necessarily reflect how our business is performing at any particular time. While we believe that investors should have information about any dilutive effect of outstanding options and the cost of that compensation, we also believe that stockholders should have the ability to consider our performance using a non-GAAP financial measure that excludes these costs and that management uses to evaluate our business.
We believe it is useful for an understanding of our operating performance to exclude from Adjusted EBITDA the gain on sale of equity investment and changes in fair value of our
We also present Adjusted EBITDA as a supplemental performance measure because we believe that this measure provides investors, securities analysts and other users of our consolidated financial statements with important supplemental information with which to evaluate our performance and to enable them to assess our performance on the same basis as management.
Adjusted EBITDA Margin represents Adjusted EBITDA divided by total revenue. We present Adjusted EBITDA Margin as a supplemental performance measure because we believe that it provides meaningful information regarding our operating efficiency.
Free Cash Flow represents net cash provided by operating activities, plus the proceeds received from the FCC Reimbursement Program and the interest rate caps, less purchases of property and equipment and the acquisition of intangible assets. We believe that Free Cash Flow provides meaningful information regarding our liquidity. Management believes that Free Cash Flow is useful for investors because it provides them with an important perspective on the cash available for strategic measures, after making necessary capital investments in property and equipment to support the Company's ongoing business operations and provides them with the same measures that management uses as the basis of making capital allocation decisions.
Investor Relations Contact: | Media Relations Contact: |
Will Davis | Dave Mellin |
+1 917-519-6994 | +1 303-301-3606 |
View original content:https://www.prnewswire.com/news-releases/gogo-announces-first-quarter-results-302137478.html
SOURCE Gogo Inc.
FAQ
What was Gogo's total revenue in Q1 2024?
What was the net income for Gogo in Q1 2024?
What are Gogo's 2024 revenue guidance range?
What are Gogo's long-term revenue growth targets?
