Gogo Inc Stock Price, News & Analysis

SmartSky Networks has amended its patent infringement lawsuit against Gogo (NASDAQ: GOGO) in the U.S. District Court of Delaware, adding two newly issued patents to the case. The complaint alleges Gogo illegally sold its "5G" air-to-ground internet product, infringing on SmartSky's patented technology. If the court finds any infringement, Gogo could face a permanent injunction against selling its 5G system. SmartSky believes these new patents strengthen its claims, which now total six. The court's decision on a preliminary injunction is expected by late Spring 2023.

Gogo Inc. (NASDAQ: GOGO) will release its fourth quarter financial results for 2022 on February 28, 2023, before market opening. A conference call for analysts is scheduled for the same day at 8:30 a.m. ET. Gogo is recognized as the leading provider of broadband connectivity services in the business aviation sector, with its services installed on thousands of aircraft. As of September 30, 2022, there were 3,079 aircraft equipped with Gogo's AVANCE systems and 6,777 with ATG systems, highlighting widespread adoption.

Gogo Inc. (NASDAQ: GOGO) has announced the promotion of Jessi Betjemann to Executive Vice President and Chief Financial Officer, effective March 11, 2023, following the retirement of current CFO Barry Rowan on March 10. Betjemann, who has over two decades of experience, previously served as Senior Vice President of Finance and played a pivotal role in Gogo's transition to a private aviation-centric business. Additionally, Leigh Goldfine has been appointed as Chief Accounting Officer, rejoining Gogo after a stint at Intelsat. Goldfine's familiarity with Gogo's accounting practices positions him well for the role. This leadership change aims to enhance Gogo's financial operations and shareholder value.

The 5G chip for Gogo's aviation services has successfully passed a critical design review and is currently in fabrication, with delivery anticipated by mid-2023. Gogo's 5G service is set to launch commercially in Q4 2023, promising average speeds of ~25 Mbps and peak speeds of 75-80 Mbps. The company is collaborating with various aircraft manufacturers to secure Supplemental Type Certifications (STCs) for over 30 aircraft models. Customers can install the existing AVANCE L5 system now and operate on the 4G network until the 5G service is available. Gogo is also offering incentives for early installations of the 5G provisional kit.

Gogo Business Aviation has announced the selection of its Gogo AVANCE L3 connectivity solution by Jet It for installation across its fleet of light jets, including HondaJets and Embraer Phenom 300s. This partnership highlights Gogo's longstanding relationship with Jet It, which seeks reliable and affordable inflight connectivity. AVANCE L3 offers scalable solutions for various user needs, including options for performance and pricing. Additionally, it comes equipped with Gogo Vision 360, providing unlimited streaming and digital content access. This announcement reflects Gogo's commitment to enhancing inflight experiences.

Gogo reported a 21% year-over-year increase in Q3 2022 revenue, totaling $105.3 million, driven by both service and equipment sales. Net income from continuing operations rose to $20.2 million, and adjusted EBITDA improved by 7% to $43.7 million. Equipment revenue reached a record $30.1 million, up 43% from Q3 2021. The company updated its 2022 guidance, projecting revenue between $395 million and $405 million and free cash flow of $50 million to $60 million.

Gogo Inc. (NASDAQ: GOGO) announces the appointment of Crystal Gordon as Executive Vice President, General Counsel, and Secretary, effective Nov. 3, 2022. She succeeds Margee Elias, who is retiring after 15 years. Gordon has extensive experience in aviation and corporate law, previously holding senior roles at Bristow Group and Era Helicopters. CEO Oakleigh Thorne expressed confidence in Gordon's fit for the role, emphasizing her vital expertise for Gogo's success. Gordon will report directly to Thorne and serve as a senior legal advisor.

Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity for business aviation, will participate in four financial conferences in November and December 2022. Key events include the J.P. Morgan Equity Opportunities Forum on November 14 in Miami Beach, Roth 11th Annual Technology Event on November 16 in New York, Bank of America Securities Leveraged Finance Conference on November 29 in Boca Raton, and Raymond James Technology Investors Conference on December 6 in New York. Company executives, including Chairman Oakleigh Thorne and CFO Barry Rowan, will be attending.

Gogo Inc. (GOGO), the leading provider of broadband connectivity services for business aviation, will announce its Q3 2022 financial results on November 3, 2022, before market open. A conference call will be held at 8:30 a.m. ET on the same day to discuss the results. Investors can access a live web cast of the call on the Investor Relations website. As of June 30, 2022, Gogo had 2,893 aircraft equipped with its AVANCE systems and 6,654 equipped with ATG systems, underscoring its strong market position in business aviation.