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.
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.
Gogo Business Aviation has reached significant milestones in developing its 5G air-to-ground (ATG) network. The company installed its first two 5G antennas on a tower, initiating prototype testing for system performance. They successfully conducted flight tests for 5G belly-mounted antennas and established a connection between ground and onboard systems. Expected to launch in the second half of 2022, Gogo’s 5G network will enhance broadband services for business aviation across the United States.
Gogo Business Aviation (NASDAQ: GOGO) has reported that its AVANCE L5 and L3 inflight connectivity systems are now installed on 2,000 business aircraft. Since the first AVANCE L5 installation in October 2017, these systems have collectively flown nearly 600,000 flights, using 262.61 terabytes of data. The AVANCE L5 platform supports a 4G experience and will leverage Gogo's upcoming 5G network in 2022. Gogo's products are certified for virtually all aircraft types, underscoring its leadership in business aviation connectivity.
Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity for business aviation, will participate in three upcoming virtual financial conferences. Oakleigh Thorne, Chairman and CEO, is scheduled for:
- J.P. Morgan 49th Annual Conference: May 25, 2021, 3:40 p.m.-4:15 p.m. EDT.
- William Blair 41st Annual Growth Stock Conference: June 2, 2021, 1:40 p.m.-2:10 p.m. EDT.
- Cowen 49th Annual Technology Conference: June 3, 2021, 4:30 p.m.-5:00 p.m. EDT.
Gogo’s systems are installed on thousands of business aircraft, with 1,900 using AVANCE technology.
Gogo Inc. (NASDAQ: GOGO) has appointed Gustavo Nader as Chief Strategy Officer and Melissa Hale as Senior Vice President of Product and Marketing, strengthening its leadership team. Nader brings 30 years of telecommunications experience, expected to enhance Gogo’s strategic planning and partnerships. Hale, with a rich aviation background, will align product and marketing efforts. These appointments aim to bolster Gogo's growth trajectory, particularly as it advances its 5G go-to-market strategy and enhances the AVANCE offerings.