Gogo Q4 revenue down 10% to $97.8M; service revenue up 5% to record $80.9M

Gogo Inc.

2023-FY EPS reported $1.09 revenue$397,577,000

Net income of $14.5M (diluted EPS $0.11), down 48% vs Q4 2022; Adjusted EBITDA $35.1M down 24%.
Record Q4 service revenue $80.9M (+5% YoY); equipment revenue $16.9M (-45% YoY); ARPU $3,387.
ATG aircraft online 7,205 (+4% YoY); AVANCE AOL 3,976 (+21% YoY, 55% of total).
Signed new 10-year connectivity agreement with NetJets; Gogo Galileo and Gogo 5G launches expected later 2024.
FY 2024 guidance: revenue $410-425M, Adj. EBITDA $110-125M, FCF $20-40M; reiterates long-term FCF target $150-200M in 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Gogo Inc. reported FY 2025 and long-term (2023-2028) results: revenue 15-17% compound annual growth rate from 2023 through 2028. Guidance reaffirmed.

Period: FY 2025 and long-term (2023-2028)
Revenue: 15-17% compound annual growth rate from 2023 through 2028
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Gogo's ability to reiterate its $150 million to $200 million Free Cash Flow target in 2025 and target long-term revenue growth of approximately 15-17% from 2023-2028 is supported by our upcoming product roll outs, Gogo Galileo and Gogo 5G

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Source: SEC EDGAR

accession 0000950170-24-022039

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