Gogo delays 5G launch to mid-2024; cuts 2023 revenue view by $7M

Gogo Inc.

5G system launch delayed to approximately mid-2024 due to design error in non-5G chip component by third-party subcontractor.
Delay reduces 2023 revenue by ~$7M and defers ~$13M in operating and capital expenditures from 2023 into 2024.
Company says project remains on budget; continues taking 5G orders; antenna and 150-site ground network already launched.
Gogo expects 5G to deliver ~25 Mbps average, peak 75-80 Mbps, positioning as first 5G network for business aviation.

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