Thu, May 7, 9:25 AM
- In-flight connectivity firm Gogo (NASDAQ:GOGO) has jumped 4.3% premarket after a wider Q1 net loss still significantly beat expectations, and revenues grew nearly 21% based on record service growth.
- EBITDA of $8.2M, up 54% Y/Y, beat an expected $2.6M.
- Revenue breakout: Service revenues, $95.4M (up 32%); Equipment revenues, $20.1M (down 14.1%). By segment: Commercial Aviation-North America, $72.5M (up 27%); Business Aviation, $41.6M (up 8%).
- The company reiterated full-year in-line guidance of revenues of $485M-$505M and EBITDA of $15M-$25M, along with cash capex of $100M-$120M.
- Press Release
Thu, May 7, 7:32 AM
Wed, May 6, 5:30 PM
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Thu, Feb. 26, 9:25 AM
- Gogo (NASDAQ:GOGO) is up 8.1% premarket, adding to gains of 5.5% yesterday, after an narrower loss than expected powered by an 18% increase in revenues.
- EBITDA of $1.2M surprised to the positive side vs. expectations of -$0.3M.
- Of $109.2M in revenues, service revenue was up 29% to $89.7M.
- Revenue Breakouts: Commercial Aviation-North America, $55.4M (up 23%); Average monthly service revenue per aircraft, $10,914 (up 22%). Business Aviation, $20.3M (up 35%); Commercial Aviation-Rest of World, $1.3M, up from $0.1M.
- "With approximately 9,000 aircraft online, representing approximately 20 percent of global aircraft, Gogo has the largest number of connected aircraft in the world," says CEO Michael Small.
- At year-end, cash and equivalents of $211.2M.
- The company guided to full 2015 revenues of $490M-$510M, in line with expectations, and cash capex of $100M-$120M.
- Press release
Thu, Feb. 26, 7:33 AM
Wed, Feb. 25, 5:30 PM
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Nov. 10, 2014, 9:09 AM
- GOGO is reiterating full-year guidance for revenue of $400M-$422M (consensus is at $407M) and adjusted EBITDA at the low end of an initial $8M-$18M range. Cash capex guidance has been lowered by $5M to $100M-$120M.
- A possible area of concern: Gogo ended Q3 with 2,044 North American commercial aircraft online, up by only 33 Y/Y and down 14 Q/Q. Gogo attributes the Q/Q drop to "de-installations of aircraft retired by some of our airline partners."
- Business aviation ATG systems online rose by 222 Q/Q and 790 Y/Y to 2,637. Business satellite systems rose by 81 Q/Q and 195 Y/Y to 5,322. International commercial aircraft rose by 16 Q/Q to 35.
- Q3 service revenue +28% Y/Y to $81.6M; growth was even with Q2's rate. Equipment revenue +4% to $22.4M, a slowdown from Q2's 17% growth.
- North American commercial revenue +25% Y/Y to $63.3M, thanks largely to a 22% increase in average monthly service revenue per aircraft to $10,134. Business revenue +16% to $40.2M.
- Segment op. profits: North American commercial $5.5M; business $15M; international commercial -$19.4M.
- Gogo ended Q3 with $243M in cash, and $314M in debt.
- Q3 results, PR
Nov. 10, 2014, 7:42 AM
Nov. 9, 2014, 5:30 PM
Aug. 11, 2014, 10:31 AM
- GOGO is reiterating full-year guidance for revenue of $400M-$422M (consensus is at $409.9M), and cash capex of $105M-$125M. But it now expects full-year adjusted EBITDA to be "toward the low end" of a prior $8M-$18M range due to higher spending to obtain certificates (STCs) for international service.
- Service revenue +28% Y/Y in Q2 to $79.2M (32% growth was seen in Q1), equipment revenue +17% to $20.4M.
- North American commercial aviation revenue +25% Y/Y to $62.1M. Average revenue per aircraft (ARPA) +18% to $9,994, thanks to a 14% increase in take rate to 6.7%. Aircraft online only rose 4% to 2,058.
- Business aviation revenue +26% to $37.1M. ATG systems online +43% to 1,684, satellite systems online +3% to 5,105.
- 19 international commercial aircraft were online, up from 5 at the end of Q1. International service revenue was only $259K.
- NA commercial had a $6.4M op. profit, business a $15.5M op. profit, and international commercial an $18.8M op. loss.
- Q2 results, PR
Aug. 11, 2014, 7:32 AM
Aug. 10, 2014, 5:30 PM
May 12, 2014, 8:16 AM
- 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
May 12, 2014, 7:33 AM
May 11, 2014, 5:30 PM
Mar. 13, 2014, 1:25 PM
- Gogo (GOGO -7.9%) expects 2014 revenue of $400M-$422M vs. a $414.2M consensus. North American commercial aviation revenue is expected to total $240M-$250M, business aviation (BA) revenue $157M-$167M, and international commercial aviation just $3M-$5M.
- The company expects 2014 cash capex of $105M-$125M, up from a 2013 level of $104.3M and a 2012 level of $57.6M. Adjusted EBITDA guidance is at $8M-$18M.
- Gogo had 2,032 NA commercial aircraft online at the end of Q4, up from 2,011 at the end of Q3 and 1,811 a year ago. BA satellite aircraft rose to 5,175 from 5,127 in Q3, and air-to-ground (ATG) aircraft rose to 2,047 from 1,847.
- Average monthly revenue per NA commercial aircraft was $8,970, up from $8,338 in Q3 and $7,400 a year ago. Average revenue/session fell to $10.29 from $10.63 in Q3, but connectivity take rate rose to 6.9% from 5.8%.
- Average monthly business service revenue per aircraft was $162 for satellite (up from $154 in Q3), and $2,047 for ATG (up from $1,958). 167 satellite and 248 ATG units were respectively shipped, down from 172 and 260 in Q3.
- Total service revenue rose 44% Y/Y to $69.7M, and equipment revenue 53% to $22.9M. Costs/expenses rose 46% to $106.7M.
- Q4 results, PR
GOGO vs. ETF Alternatives
Gogo Inc is a holding company. The Company through its subsidiaries is engaged in providing aero communications service for the aviation industry. It provides in-flight connectivity and wireless in-cabin digital entertainment solutions.
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