Welcome to our dedicated page for Gogo news (Ticker: GOGO), a resource for investors and traders seeking the latest updates and insights on Gogo stock.
Gogo Inc (NASDAQ: GOGO) provides cutting-edge inflight connectivity solutions for business aviation, combining air-to-ground and satellite technologies. This page aggregates official announcements and market-moving developments for stakeholders tracking the company's progress.
Access curated press releases covering quarterly earnings, technology partnerships, and regulatory milestones. Investors will find updates on service expansions, equipment certifications, and strategic initiatives shaping the future of airborne connectivity.
All content is sourced directly from company filings and verified industry publications. Bookmark this page for efficient tracking of GOGO's advancements in smart cabin systems, 5G integration, and aviation broadband leadership.
Gogo Inc. (NASDAQ: GOGO) announced it will release its third quarter 2020 financial results on November 9, 2020, before the market opens. The company will hold a conference call at 8:30 a.m. ET on the same day to discuss the results with financial analysts. Gogo provides broadband connectivity products for aviation, serving numerous commercial airlines and private aircraft globally. The conference call details can be accessed via the company's Investor Relations website.
Gogo Business Aviation announced that its AVANCE L3 system has been selected as a factory option for new Beechcraft King Air 360/360ER aircraft. This milestone strengthens their long-standing partnership with Textron Aviation. The King Air 360 will feature enhanced inflight connectivity and entertainment, allowing users to connect at lower altitudes. Deliveries are set to begin shortly. The AVANCE L3 offers customizable Wi-Fi solutions, enabling email, messaging, and access to entertainment, and is designed for smaller jets and turboprops.
Gogo Inc. (NASDAQ: GOGO) announced on September 23, 2020, that its Board of Directors has adopted a Section 382 Rights Plan aimed at protecting its net operating loss carryforwards (NOLs) and tax assets, totaling approximately $580 million in federal NOLs, $430 million in state NOLs, and $196 million in federal interest expense carryforwards. This Plan will issue one Right for each common stock share outstanding as of October 2, 2020, and it requires stockholder approval at Gogo's 2021 annual meeting.
Gogo Business Aviation (NASDAQ: GOGO) announced on September 18, 2020, that the U.S. Patent and Trademark Office declined to review U.S. Patent No. 9,312,947 owned by SmartSky Networks, LLC. Gogo disagrees with this decision, asserting they do not infringe any valid patent. They emphasized that this outcome does not hinder their growth, including the launch of Gogo 5G, which aims to strengthen their market position in business aviation. Currently, Gogo's systems operate on over 5,500 business jets, showcasing their extensive customer base.
Pilatus has chosen Gogo (NASDAQ: GOGO) to provide its AVANCE L3 Wi-Fi system as a factory option for the new PC-24 aircraft. This follows the successful integration of the system in the PC-12 NGX. The AVANCE L3 offers customizable inflight connectivity and entertainment features, enhancing the passenger experience. Gogo's vice president emphasized the collaboration with Pilatus signifies a strong partnership, aiming to meet the demand for in-flight connectivity in smaller business jets. This strategic move positions Gogo favorably within the aviation sector.
Gogo Inc. (NASDAQ: GOGO) announced that GTCR, a private equity firm, has acquired a 14.8% stake in the company. Gogo's management expressed enthusiasm for GTCR's investment, anticipating a constructive collaboration to execute their strategic plan. GTCR's Managing Director emphasized Gogo's focus on its business aviation segment, suggesting potential for growth following the planned sale of its commercial aviation business. Gogo aims to lead in aviation broadband connectivity, offering customized internet solutions for business and commercial airlines.
Gogo Inc. (NASDAQ: GOGO) has announced a definitive agreement to sell its Commercial Aviation (CA) business to Intelsat S.A. for $400 million in cash. The Gogo Board has approved the transaction, which is expected to close by Q1 2021, pending customary conditions. Gogo plans to utilize proceeds to enhance its net debt position and invest in growth opportunities, including Gogo 5G. The deal will also establish a 10-year network services agreement with minimum revenue guarantees of $177.5 million for Intelsat.
Gogo Business Aviation announced a significant milestone, with its AVANCE L5 system now installed on 1,000 business jets, marking the fastest adoption of any high-speed inflight connectivity system in the industry. The AVANCE L3 system also nears 450 installations, totaling nearly 1,500 systems. Since its launch, the L5 has powered over 325,000 flights and delivered 150 million megabytes of data. Despite challenges from the COVID-19 pandemic, demand for Gogo's systems remains strong, supported by over 200 FAA STC approvals, enhancing its position in inflight connectivity.
Gogo (GOGO) reported Q2 2020 results with a consolidated revenue of $96.6 million, a 55% decline from Q2 2019, primarily due to COVID-19. The net loss increased to $86.0 million, and adjusted EBITDA was negative $15.9 million. Despite challenges, Gogo's cost control measures yielded a 27% decrease in expenses from Q1 2020. Gogo retains $156.3 million in cash but has initiated a reduction in workforce and is working to sell its CA division. Management is optimistic about recovery in business aviation as July trends improve.
Gogo Inc. (NASDAQ: GOGO) will release its second quarter 2020 financial results on August 10, 2020, before market opening. A conference call for financial analysts is scheduled for the same day at 8:30 a.m. EDT. Gogo is recognized as a leading provider of broadband connectivity in aviation, offering innovative network solutions and customizable services. The company's mission is to enhance flight operations and passenger experiences. A web cast of the call will be accessible online for participants.
