This page shows Gogo Inc (GOGO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Gogo Inc has an operating margin of 12.5%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 50/100, indicating healthy but not exceptional operating efficiency. This is up from 11.5% the prior year.
Gogo Inc's revenue surged 104.7% year-over-year to $910.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Gogo Inc has elevated debt relative to equity (D/E of 8.24), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.
Gogo Inc's current ratio of 1.60 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 28/100, which could limit financial flexibility.
Gogo Inc has a free cash flow margin of 7.1%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
Gogo Inc's ROE of 12.8% shows moderate profitability relative to equity, earning a score of 40/100. This is down from 19.8% the prior year.
Gogo Inc scores 0.13, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($541.4M) relative to total liabilities ($1.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Gogo Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Gogo Inc generates $9.63 in operating cash flow ($124.5M OCF vs $12.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Gogo Inc earns $1.7 in operating income for every $1 of interest expense ($114.1M vs $68.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Gogo Inc generated $910.5M in revenue in fiscal year 2025. This represents an increase of 104.7% from the prior year.
Gogo Inc's EBITDA was $174.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 148.2% from the prior year.
Gogo Inc reported $12.9M in net income in fiscal year 2025. This represents a decrease of 6.0% from the prior year.
Gogo Inc earned $0.09 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 10.0% from the prior year.
Cash & Balance Sheet
Gogo Inc generated $65.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 133.2% from the prior year.
Gogo Inc held $125.2M in cash against $833.6M in long-term debt as of fiscal year 2025.
Gogo Inc had 135M shares outstanding in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Margins & Returns
Gogo Inc's operating margin was 12.5% in fiscal year 2025, reflecting core business profitability. This is up 1.0 percentage points from the prior year.
Gogo Inc's net profit margin was 1.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.
Gogo Inc's ROE was 12.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.1 percentage points from the prior year.
Capital Allocation
Gogo Inc invested $56.1M in research and development in fiscal year 2025. This represents an increase of 25.2% from the prior year.
Gogo Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 100.0% from the prior year.
Gogo Inc invested $59.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 339.7% from the prior year.
GOGO Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $230.6M+3.1% | $223.6M-1.1% | $226.0M-1.9% | $230.3M+67.1% | $137.8M+37.1% | $100.5M-1.5% | $102.1M-2.2% | $104.3M |
| Cost of Revenue | N/A | N/A | $27.7M-5.6% | $29.3M | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | $198.4M-1.3% | $201.0M | N/A | N/A | N/A | N/A |
| R&D Expenses | $14.0M-10.8% | $15.7M+25.6% | $12.5M-10.1% | $13.9M-10.3% | $15.5M+58.2% | $9.8M-4.9% | $10.3M+12.0% | $9.2M |
| SG&A Expenses | $30.7M+10.3% | $27.9M-2.7% | $28.6M-3.0% | $29.5M-53.6% | $63.7M+155.5% | $24.9M+14.0% | $21.8M+49.1% | $14.7M |
| Operating Income | $14.2M-50.6% | $28.7M-20.1% | $36.0M+2.2% | $35.2M+245.7% | -$24.2M-226.7% | $19.1M-12.0% | $21.7M-37.5% | $34.7M |
| Interest Expense | $17.6M-0.6% | $17.7M+7.7% | $16.4M-0.9% | $16.6M+35.3% | $12.2M+26.6% | $9.7M+19.2% | $8.1M-3.5% | $8.4M |
| Income Tax | $1.4M+2.8% | $1.4M-67.2% | $4.2M-39.9% | $6.9M+184.8% | -$8.2M-637.9% | $1.5M+1053.0% | $132K-98.8% | $10.9M |
| Net Income | -$10.0M-417.9% | -$1.9M-115.1% | $12.8M+6.4% | $12.0M+142.7% | -$28.2M-365.4% | $10.6M+1167.0% | $839K-97.2% | $30.5M |
| EPS (Diluted) | N/A | $-0.01-111.1% | $0.090.0% | $0.09 | N/A | $0.08+700.0% | $0.01-95.7% | $0.23 |
GOGO Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+0.7% | $1.3B+2.5% | $1.3B+2.0% | $1.2B+0.7% | $1.2B+51.6% | $810.7M+1.0% | $802.7M-0.8% | $809.0M |
| Current Assets | $431.9M+2.0% | $423.6M+9.8% | $385.9M+8.9% | $354.3M+9.7% | $323.1M-7.0% | $347.4M+0.7% | $344.9M+2.9% | $335.3M |
| Cash & Equivalents | $125.2M-6.3% | $133.6M+30.8% | $102.1M+45.3% | $70.3M+68.3% | $41.8M-76.4% | $176.7M+9.4% | $161.6M+5.7% | $152.8M |
| Inventory | $98.9M+20.7% | $81.9M-6.9% | $88.0M-6.2% | $93.8M-4.2% | $97.9M+30.8% | $74.8M+8.4% | $69.1M-0.3% | $69.3M |
| Accounts Receivable | $112.6M-1.6% | $114.4M+1.4% | $112.7M-2.3% | $115.4M+3.5% | $111.5M+143.1% | $45.9M-14.5% | $53.7M+8.6% | $49.4M |
| Goodwill | $193.2M+0.3% | $192.6M+0.2% | $192.2M+3.7% | $185.2M+0.2% | $184.8M+30705.2% | $600K0.0% | $600K0.0% | $600K |
| Total Liabilities | $1.2B+1.2% | $1.2B+2.4% | $1.2B+0.4% | $1.2B-0.4% | $1.2B+53.0% | $758.0M+1.0% | $750.7M+0.6% | $746.5M |
| Current Liabilities | $269.2M+10.5% | $243.7M+8.0% | $225.6M+17.4% | $192.2M+5.6% | $182.0M+87.6% | $97.0M+11.0% | $87.4M+9.4% | $79.9M |
| Long-Term Debt | $833.6M+0.1% | $833.0M+0.1% | $832.5M+0.1% | $832.0M+0.1% | $831.6M+42.4% | $583.9M-0.2% | $585.1M-0.2% | $586.3M |
| Total Equity | $101.1M-5.4% | $107.0M+4.1% | $102.8M+23.9% | $82.9M+19.7% | $69.3M+31.5% | $52.7M+1.4% | $52.0M-16.7% | $62.4M |
| Retained Earnings | -$1.2B-0.8% | -$1.2B-0.2% | -$1.2B+1.1% | -$1.2B+1.0% | -$1.2B-2.4% | -$1.2B+0.9% | -$1.2B+0.1% | -$1.2B |
GOGO Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.5M-81.8% | $46.8M+27.5% | $36.7M+13.1% | $32.5M+184.7% | -$38.3M-252.5% | $25.1M+0.7% | $24.9M-15.9% | $29.7M |
| Capital Expenditures | $33.9M+73.5% | $19.5M+515.0% | $3.2M+15.5% | $2.8M-35.3% | $4.3M-3.8% | $4.4M+30.4% | $3.4M+133.4% | $1.5M |
| Free Cash Flow | -$25.4M-193.2% | $27.3M-18.7% | $33.5M+12.8% | $29.7M+169.8% | -$42.6M-305.5% | $20.7M-3.9% | $21.6M-23.6% | $28.2M |
| Investing Cash Flow | -$16.4M-1.2% | -$16.3M-239.6% | -$4.8M-96.6% | -$2.4M+99.3% | -$334.0M-61747.8% | -$540K-566.7% | -$81K+96.9% | -$2.6M |
| Financing Cash Flow | -$243K-120.9% | $1.2M+267.1% | -$695K+55.8% | -$1.6M-100.7% | $237.6M+2614.5% | -$9.4M+41.5% | -$16.2M-21.5% | -$13.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0 | $0 | $0-100.0% | $2.4M-68.2% | $7.6M-41.6% | $13.0M+28.4% | $10.1M |
GOGO Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | 87.8%+0.5pp | 87.3% | N/A | N/A | N/A | N/A |
| Operating Margin | 6.2%-6.7pp | 12.9%-3.0pp | 15.9%+0.6pp | 15.3%+32.8pp | -17.5%-36.5pp | 19.0%-2.3pp | 21.2%-12.0pp | 33.2% |
| Net Margin | -4.3%-3.5pp | -0.9%-6.5pp | 5.7%+0.4pp | 5.2%+25.7pp | -20.5%-31.0pp | 10.6%+9.8pp | 0.8%-28.4pp | 29.2% |
| Return on Equity | -9.9%-8.1pp | -1.8%-14.3pp | 12.5%-2.1pp | 14.5%+55.2pp | -40.7%-60.9pp | 20.2%+18.6pp | 1.6%-47.2pp | 48.8% |
| Return on Assets | -0.8%-0.6pp | -0.1%-1.2pp | 1.0%+0.0pp | 1.0%+3.3pp | -2.3%-3.6pp | 1.3%+1.2pp | 0.1%-3.7pp | 3.8% |
| Current Ratio | 1.60-0.1 | 1.74+0.0 | 1.71-0.1 | 1.84+0.1 | 1.77-1.8 | 3.58-0.4 | 3.95-0.3 | 4.20 |
| Debt-to-Equity | 8.24+0.5 | 7.79-0.3 | 8.10-1.9 | 10.03-2.0 | 12.00+0.9 | 11.07-0.2 | 11.25+1.9 | 9.39 |
| FCF Margin | -11.0%-23.2pp | 12.2%-2.7pp | 14.8%+1.9pp | 12.9%+43.8pp | -30.9%-51.5pp | 20.6%-0.5pp | 21.1%-5.9pp | 27.0% |
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Frequently Asked Questions
What is Gogo Inc's annual revenue?
Gogo Inc (GOGO) reported $910.5M in total revenue for fiscal year 2025. This represents a 104.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Gogo Inc's revenue growing?
Gogo Inc (GOGO) revenue grew by 104.7% year-over-year, from $444.7M to $910.5M in fiscal year 2025.
Is Gogo Inc profitable?
Yes, Gogo Inc (GOGO) reported a net income of $12.9M in fiscal year 2025, with a net profit margin of 1.4%.
What is Gogo Inc's EBITDA?
Gogo Inc (GOGO) had EBITDA of $174.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Gogo Inc have?
As of fiscal year 2025, Gogo Inc (GOGO) had $125.2M in cash and equivalents against $833.6M in long-term debt.
What is Gogo Inc's operating margin?
Gogo Inc (GOGO) had an operating margin of 12.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Gogo Inc's net profit margin?
Gogo Inc (GOGO) had a net profit margin of 1.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Gogo Inc's return on equity (ROE)?
Gogo Inc (GOGO) has a return on equity of 12.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Gogo Inc's free cash flow?
Gogo Inc (GOGO) generated $65.1M in free cash flow during fiscal year 2025. This represents a 133.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Gogo Inc's operating cash flow?
Gogo Inc (GOGO) generated $124.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Gogo Inc's total assets?
Gogo Inc (GOGO) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Gogo Inc's capital expenditures?
Gogo Inc (GOGO) invested $59.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Gogo Inc spend on research and development?
Gogo Inc (GOGO) invested $56.1M in research and development during fiscal year 2025.
What is Gogo Inc's current ratio?
Gogo Inc (GOGO) had a current ratio of 1.60 as of fiscal year 2025, which is generally considered healthy.
What is Gogo Inc's debt-to-equity ratio?
Gogo Inc (GOGO) had a debt-to-equity ratio of 8.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Gogo Inc's return on assets (ROA)?
Gogo Inc (GOGO) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Gogo Inc's Altman Z-Score?
Gogo Inc (GOGO) has an Altman Z-Score of 0.13, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Gogo Inc's Piotroski F-Score?
Gogo Inc (GOGO) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Gogo Inc's earnings high quality?
Gogo Inc (GOGO) has an earnings quality ratio of 9.63x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Gogo Inc cover its interest payments?
Gogo Inc (GOGO) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Gogo Inc?
Gogo Inc (GOGO) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.