GOGO is reiterating full-year guidance for revenue of $400M-$422M (consensus is at $412.9M), adjusted EBITDA of $8M-$18M, and cash capex of $105M-$125M.
North American commercial aircraft online rose by 1% Q/Q and 9% Y/Y to 2,056. Business satellite systems online +1% Q/Q and +4% Y/Y to 5,252, and business ATG systems +10% Q/Q and +45% Y/Y to 2,250.
Service revenue +32% Y/Y to $72.3M, down from Q4's 44% clip. Equipment revenue +48% vs. +53% in Q4.
NA commercial aviation revenue +32% Y/Y to $57.1M, with a $5.8M segment profit. Business aviation +47% to $38.6M, with a $16.5M segment profit. Rest of world commercial aviation (still in its early stages) had a $16.9M segment loss.
Cost of service revenue rose 32% Y/Y (the same rate as service rev. growth) to $72.3M. Total costs/expenses rose 29% to $105M.
Expectations were a little lower than when Gogo posted its Q4 report on March 13.
Q1 results, PR