Gogo Q3 revenue up 3% to $100.5M, net income down 49%; raises 2024 Adj. EBITDA guidance

Gogo Inc.

2024-Q3 EPS reported $0.32 revenue$306,910,000

Total revenue $100.5M (+3% YoY); service revenue $81.9M (+3%); equipment revenue $18.7M (+1%).
Net income $10.6M ($0.08 diluted EPS) vs $20.9M ($0.16) in Q3 2023; adjusted EBITDA $34.8M (-19% YoY).
Raised 2024 adjusted EBITDA guidance to $120-$130M (prior $110-$125M) and FCF guidance to $55-$65M.
Announced definitive acquisition of Satcom Direct; expects day-one accretion and net leverage target 2.5-3.5x within 1-2 years post-close.
Textron Aviation and Wheels Up select Gogo Galileo HDX as factory option/fleetwide installation; installs expected mid-2025.

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