Gogo Q1 revenue up 6% to $98.6M, pays down $100M debt, reiterates 2023 guidance

Gogo Inc.

2023-Q1 EPS reported $0.15 revenue$98,597,000

Revenue $98.6M (+6% YoY); service revenue record $78.5M (+11%); equipment $20.1M (-9%).
Net income $20.4M ($0.15 diluted EPS) down from $22.2M ($0.18); Adjusted EBITDA $39.7M (-7% YoY).
Paid down $100M of Term Loan; expects ~$8.5M annualized cash interest savings.
Reiterated 2023 guidance: revenue $440-455M, adjusted EBITDA $150-160M, free cash flow $80-90M.
AVANCE AOL grew 28% to 3,447 units; total ATG aircraft online 7,046 (+8%); ARPU $3,389 (+2%).

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Gogo Inc. reported the quarter ended March 31, 2023 results: revenue $98.6 million, net income $20.4 million, EPS $0.15. Guidance reaffirmed.

Period: the quarter ended March 31, 2023
Revenue: $98.6 million
Net income: $20.4 million
EPS: $0.15
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Gogo Announces First Quarter Results and Pays Down $100 million of Debt Reiterates 2023 Guidance and Long-Term Targets First Quarter Revenue of $98.6 million, up 6% Year-over-Year; Net Income of $20.4 million; and Adjusted EBITDA (1) of $39.7 million

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Source: SEC EDGAR

accession 0000950170-23-017147

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