Gogo Q3 revenue down 7% to $97.9M; cuts full-year revenue guidance to $390-400M

Gogo Inc.

2023-Q3 EPS reported $0.98 revenue$299,767,000

Record service revenue of $79.5M (+6% YoY); equipment revenue fell 39% to $18.4M.
Net income $20.9M ($0.16 diluted EPS) vs $20.2M ($0.15) in Q3 2022.
Adjusted EBITDA $43.2M; full-year Adj. EBITDA guided to high end of $150-160M.
2023 revenue guidance lowered to $390-400M from $410-420M on weaker equipment sales; capex reduced to $25-30M.
Long-term targets reiterated: 15-17% revenue CAGR 2022-2027 and $150-200M FCF in 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Gogo Inc. reported the quarter ended September 30, 2023 results: revenue Total Revenue of $97.9 million, net income Net Income of $20.9 million, EPS Diluted earnings per share was $0.16. Guidance lowered.

Period: the quarter ended September 30, 2023
Revenue: Total Revenue of $97.9 million
Net income: Net Income of $20.9 million
EPS: Diluted earnings per share was $0.16
Guidance: lowered
Result: reported results

Exact text from the filing

Gogo Announces Third Quarter Results Updates 2023 Financial Guidance and Reiterates Long-Term Targets Total Revenue of $97.9 million, down 7% Year-over-Year; Record Third Quarter Service Revenue of $79.5 million, up 6% Year-over-Year Net Income of $20.9 million; Adjusted EBITDA (1) of $43.2 million

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Source: SEC EDGAR

accession 0000950170-23-059797

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