Welcome to our dedicated page for Gogo news (Ticker: GOGO), a resource for investors and traders seeking the latest updates and insights on Gogo stock.
Gogo Inc. reports developments tied to broadband connectivity services for business aviation and military/government aviation markets. Company updates commonly cover service revenue from connectivity subscriptions and usage, equipment revenue from air-to-ground and satellite systems, and the integration of Satcom Direct following the completed acquisition in December 2024.
Recurring news also includes product and network milestones for Gogo Galileo low-Earth-orbit satellite service, 5G air-to-ground connectivity, AVANCE and C-1 equipment, and the LTE upgrade of legacy ATG infrastructure. Announcements frequently address aircraft supplemental type certificates, fleet installations, government aviation certifications, customer deployments, debt reduction, and financial guidance.
Gogo Business Aviation (NASDAQ: GOGO) addressed reports of federal discussions regarding potential 5G interference with aircraft radio altimeters. The FAA and FCC are concerned about the C-Band spectrum's impact on altimeters that operate in the 4.0 GHz - 4.2 GHz range. Gogo clarified that it does not use these frequencies and plans to operate its 5G network in the 800 MHz band and unlicensed spectrum (2.423 GHz – 2.475 GHz), ensuring no interference. Gogo remains the largest provider of broadband services in business aviation, with over 6,000 aircraft connected.
Gogo Business Aviation announced that its upcoming Gogo 5G service is expected to deliver an average speed of approximately 25 Mbps, with peak speeds ranging between 75-80 Mbps. President Sergio Aguirre stated that this upgrade will significantly enhance connectivity experiences compared to current speeds of 2-7+ Mbps. The rollout of the Gogo 5G network is on schedule for the second half of 2022, with Jet Edge as the launch customer. Gogo has been recognized for its customer satisfaction in the airborne connectivity sector, ranking first in seven of eight survey categories this year.
Gogo Inc. (NASDAQ: GOGO) will announce its third-quarter 2021 financial results before the market opens on November 4, 2021. The company will hold a conference call for analysts at 8:30 a.m. ET on the same day. Gogo is the leading provider of broadband connectivity for the business aviation sector, servicing thousands of aircraft. As of June 30, 2021, 6,036 aircraft were using its ATG systems, and 4,587 had satellite connectivity. Gogo aims to enhance inflight connectivity and entertainment for various business aircraft.
Jet Edge International has partnered with Gogo (NASDAQ: GOGO) as the launch customer for Gogo's upcoming 5G network. The agreement involves upgrading 50 of Jet Edge's managed aircraft equipped with the AVANCE L5 system to Gogo 5G over a 24-month period. Gogo 5G aims to provide high-speed connectivity and low latency to meet the growing demand for data-heavy services. The deployment of the network is in progress, with the full launch expected in the second half of 2022.
On October 11, 2021, Gogo (NASDAQ: GOGO) announced that Banyan Air Service is nearing completion of Supplemental Type Certification (STC) for Gogo's AVANCE L3 on the HondaJet, enhancing its presence in the light jet sector. The AVANCE systems, which include L3 and L5, are now certified on various business aircraft, totaling over 2,000 systems in operation. The expansion highlights Gogo's leadership in inflight connectivity and the growing demand from customers.
Gogo Business Aviation (NASDAQ: GOGO) has introduced SmartShield, a premium membership program designed for AVANCE and classic ATG system users. Priced at $5,000 annually with a three-year commitment, it offers benefits such as fixed pricing, unlimited equipment warranty, and monthly data rollover. Additionally, Gogo provides a $10,000 installation rebate and $15,000 service credit for upgrades to the AVANCE system. With over 6,000 aircraft connected, Gogo reinforces its leadership in business aviation connectivity.
Gogo Inc. (NASDAQ: GOGO), a leader in broadband connectivity for business aviation, has updated its long-term financial targets. The revenue growth forecast has been increased to a compounded annual growth rate of approximately 15% from 2020 to 2025, up from the previous target of at least 10%. The company anticipates an annual Adjusted EBITDA margin rise from 40% in 2021 to 45% in 2025. Free Cash Flow is projected at approximately $125 million in 2023 and $200 million in 2025. A conference call is scheduled for September 30, 2021, to discuss these updates.
Gogo reported a strong Q2 2021, with total revenue of $82.4 million, up 16% from Q2 2019 and 51% from Q2 2020. Record service revenue reached $64.8 million, a growth of 18% compared to Q2 2019. Despite a net loss of $66.4 million primarily due to a debt extinguishment cost, Adjusted EBITDA improved to a record $36.7 million, a 70% rise from the previous year. Gogo anticipates total revenue between $325 million to $335 million for 2021, an increase from prior guidance, alongside a positive net income forecast for Q3 2021.
Cirrus Aircraft has chosen Gogo Business Aviation's AVANCE L3 system as a factory option for its new G2+ Vision Jet aircraft. This makes the G2+ the first personal jet to include Gogo's inflight connectivity service. Gogo’s AVANCE L3 enhances connectivity for smaller aircraft, allowing passengers access to email and web browsing. With more than 2,000 business aircraft equipped with GOGO systems, this partnership underscores the rising demand for inflight connectivity across various aircraft sizes.
Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity for business aviation, will release its Q2 2021 financial results on August 5, 2021, prior to market opening. A conference call for analysts is scheduled for the same day at 8:30 a.m. ET. The company, which supports thousands of business aircraft, has over 2,000 planes using its AVANCE L5 or L3 systems. Gogo reported 5,892 aircraft with ATG systems and 4,614 with satellite connectivity as of March 31, 2021. Details and a live web cast will be available on their investor website.