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) is a provider of in-flight connectivity services and equipment for business aviation and military/government aviation. This news page aggregates company press releases and other coverage so readers can follow how Gogo develops and deploys its Air-to-Ground (ATG) and satellite-based connectivity solutions.
Recent Gogo news has highlighted progress on its next-generation 5G ATG network for aircraft flying predominantly in North America, including terrestrial and flight testing, validation of performance, and the onboarding of initial customers. Updates also cover the company’s Gogo Galileo LEO satellite offering, with HDX and FDX electronically steered antennas, Supplemental Type Certificates (STCs) for various business jet types, and antenna shipments and activations.
Investors and aviation professionals can also find announcements about Plane Simple Ka-band terminals for aircraft such as the Dassault Falcon 7X and 8X, government contracts awarded to SD Government (SDG) for multi-orbit airborne communications, and milestones in Gogo’s FCC Rip & Replace program as it upgrades its legacy EVDO network to LTE technology. Financial results releases, guidance updates, and information on acquisitions such as Satcom Direct are typically communicated through quarterly earnings news and related materials.
By reviewing the GOGO news feed, readers can monitor developments in Gogo’s connectivity product roadmap, government and business aviation contracts, network testing milestones, and other material events disclosed by the company.
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Gogo Business Aviation (NASDAQ: GOGO) partners with Duncan Aviation to develop 5G Supplemental Type Certifications (STCs) for various business aircraft models. This initiative aims to enhance in-flight connectivity as Gogo plans to launch its 5G service by Q4 2023. Key aircraft models covered include Bombardier Global Express, Challenger series, and Gulfstream models. Gogo offers incentives, including rebates up to $100,000, for operators upgrading to its 5G network. The 5G system is designed for high throughput and low latency, catering to the increasing demand for data-heavy applications. As of December 31, 2022, Gogo had over 3,279 aircraft equipped with its AVANCE systems.
Gogo Business Aviation (NASDAQ: GOGO) announced on April 24, 2023, its expansion of the Gogo 5G network into Canada, enhancing coverage for business aviation operators across North America. This advancement is expected to provide average speeds of ~25 Mbps with peaks of 75-80 Mbps, enabling users to access data-intensive services like video conferencing and gaming with lower latency. The Gogo 5G service is scheduled for commercial launch in Q4 2023, with full network expansion completion in 2024. This initiative, leveraging the AVANCE platform, allows existing customers to upgrade easily. As of December 31, 2022, Gogo reported over 3,279 business aircraft utilizing its systems, emphasizing its position as the largest provider of broadband connectivity in the sector.
Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity services for business aviation, is set to report its financial results for the first quarter of 2023 before market opening on May 3, 2023. Following the release, Gogo will conduct a conference call at 8:30 a.m. (ET) for financial analysts. As of December 31, 2022, Gogo had a significant number of aircraft utilizing its connectivity systems: 3,279 with the AVANCE L5 or L3, 6,935 with ATG systems, and 4,475 with narrowband satellite connectivity. This highlights Gogo's extensive market presence and the wide adoption of its services among various operators.
Gogo reported record Q4 revenue of $108.2 million, up 17% year-over-year, with net income from continuing operations at $27.7 million. Full-year revenue reached $404.1 million, a 20% increase from 2021. Key highlights include record service revenue of $296.3 million and equipment revenue of $107.7 million. The company plans to launch its 5G service in Q4 2023, with long-term revenue growth targets of 17% through 2027. Gogo expects $440 million to $455 million in total revenue for 2023 and $80 million to $90 million in Free Cash Flow.
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.