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 has secured 25 Supplemental Type Certificate (STC) contracts for its Gogo Galileo HDX system, covering a wide range of business aircraft makes and models. This development unlocks a total addressable market of over 18,000 aircraft globally, many of which previously lacked access to broadband inflight connectivity.
The STCs, supported by Gogo's extensive dealer network in North America, Europe, and South America, will be completed in 2025. They cover aircraft ranging from super-light jets to ultra-long-range large-cabin aircraft, including models from Bombardier, Embraer, Gulfstream, HondaJet, Textron, and others.
Gogo Galileo HDX offers peak speeds up to 60 Mbps, with mean speeds close to 57 Mbps. The service, set to launch later this year, utilizes Eutelsat OneWeb's Low-Earth-Orbit network for consistent global performance. Gogo is offering a -time $25,000 rebate for current customers upgrading from legacy air-to-ground systems to AVANCE SCS and HDX.
Gogo Business Aviation (NASDAQ: GOGO) and Airshare have signed a multi-year inflight connectivity agreement. The deal allows Airshare's aircraft management clients to install Gogo AVANCE, Gogo 5G, and Gogo Galileo, the company's LEO broadband satellite service. Airshare operates a fleet of nearly 150 aircraft, with 65% of its Phenom 300 aircraft already upgraded to Gogo AVANCE. The remaining fleet is planned for upgrade within the next 12 months.
The partnership aims to enhance Wi-Fi performance for both Managed and Fractional fleets. Gogo Galileo can be added to any size aircraft with an AVANCE system using a single fuselage-mounted antenna, available in two options (HDX or FDX) to meet specific customer and aircraft operator needs.
Gogo Business Aviation (NASDAQ: GOGO) has completed the first installation of Gogo Galileo HDX on a Bombardier Challenger 300 and begun flight testing. This marks a significant step towards the commercial launch of its Low-Earth-Orbit (LEO) global broadband solution later this year. The installation process was straightforward for aircraft with existing AVANCE platform equipment.
Gogo Galileo HDX is on track to launch in Q4 2024, offering mean speeds of 57 Mbps and peak speeds up to 60 Mbps. The company has secured eight STC programs covering 5,318 aircraft, with 21 more agreements in process. Gogo is now accepting purchase orders, with pricing and service plans available on their website. A $25,000 rebate is offered to current Gogo customers upgrading from legacy systems.
Gogo Business Aviation (NASDAQ: GOGO) has partnered with Skyservice Business Aviation to develop Supplemental Type Certificates (STCs) for Gogo 5G on six aircraft models. The STCs, issued by Transport Canada Civil Aviation (TCCA) and the Federal Aviation Administration (FAA), will enhance air-to-ground inflight entertainment and connectivity for North American operators. Gogo's 5G network includes over 159 sites, with 9 in Canada.
Skyservice is developing STCs for the Gulfstream G280, Embraer Legacy 450/500, Cessna Citation CJ3/3+, Bombardier Challenger 300/350, Bombardier Challenger 604/605, and Cessna Citation X. The 5G upgrade requires installation of an AVANCE L5 and two MB13 phased-array antennas. Gogo is offering savings of up to $50,000 for operators upgrading to AVANCE and provisioning for 5G.
Gogo Inc. (NASDAQ: GOGO) reported Q2 2024 financial results with total revenue of $102.1 million, down 1% YoY. While service revenue reached a record of $81.9 million (up 4% YoY), equipment revenue declined by 17% YoY. Net income plummeted 99% YoY to $0.8 million, primarily due to unrealized losses on a convertible note investment. Adjusted EBITDA was $30.4 million, a 31% YoY decrease. The company maintained cash and cash equivalents at $161.6 million.
Gogo updated its 2024 guidance with total revenue expected between $400 million and $410 million. Free Cash Flow guidance improved to $35 million-$55 million. Long-term targets include a CAGR of 15%-17% in revenue through 2028 and Free Cash Flow of $150 million in 2025. The company also highlighted its anticipated launches for Gogo Galileo HDX, Galileo FDX, and Gogo 5G, expected to drive growth starting late 2024 and into 2025.
Gogo Business Aviation and Duncan Aviation are collaborating to pursue an FAA Supplemental Type Certificate (STC) for Gogo 5G on Bombardier Learjet 40/45/70/75 aircraft. This initiative aims to enhance inflight connectivity for over 700 Learjet operators in North America. The STC, led by Duncan Aviation-Houston Satellite, will provide an upgrade path to faster IFC with AVANCE L5 and Gogo 5G provisions. Duncan Aviation is also developing STCs for various Bombardier, Gulfstream, and Citation aircraft models. The upgrade path includes installing AVANCE L5 and two MB13 phased-array antennas, with the option to swap L5 for AVANCE LX5 when available. Gogo is offering savings of up to $50,000 for operators upgrading to AVANCE and provisioning for 5G.
Gogo Inc. (NASDAQ: GOGO) has appointed Monte Koch to its Board of Directors, expanding it from 9 to 10 members. Koch, the Chair Emeritus of the National Business Aviation Association (NBAA), brings extensive expertise in business aviation and finance. With over 5,000 hours as a pilot and a 25-year career in finance, Koch's appointment is expected to benefit Gogo as it launches new inflight connectivity products. Oakleigh Thorne, Gogo's Chairman and CEO, highlighted Koch's unique insights into the business aviation ecosystem and his potential to help Gogo capture more opportunities in the underpenetrated market.
Gogo Inc. (NASDAQ: GOGO), the leading provider of broadband connectivity services for business aviation, has announced its plans to release second quarter 2024 financial results on August 7, 2024, before the market opens. The company will host a conference call for financial analysts at 8:30 a.m. ET on the same day.
Investors and interested parties can access the live webcast and replay of the conference call through Gogo's investor relations website. For those wishing to participate via phone, a dial-in number and unique conference ID are provided. This announcement sets the stage for Gogo to present its latest financial performance and discuss its position in the business aviation connectivity market.
Gogo Business Aviation (NASDAQ: GOGO) has achieved over 1,000 successful AVANCE system updates through its over-the-air (OTA) feature, significantly cutting software upgrade time by 83%. This remote, hands-free process replaces the older USB kit method, facilitating simultaneous updates for all aircraft in a fleet. The AVANCE platform is designed to allow seamless upgrades to new technologies like Gogo Galileo and Gogo 5G. OTA, introduced with AVANCE software update v4.4, is now the fastest-adopted update in Gogo's history. Accessible through the Gogo DASH app and a Gogo Cloudport, the system enhances operational efficiency for Gogo’s global customer base.
Skyservice Business Aviation has announced the establishment of a Gogo AVANCE Center of Excellence at its Calgary, Toronto, and Montreal locations. Starting today, priority bookings are available for the installation of Gogo AVANCE systems on Bombardier Challenger 300 series aircraft ahead of the 2026 network transition to LTE technology. This move aims to enhance inflight connectivity and experience for both flight crew and passengers. Aircraft owners who upgrade from legacy systems to AVANCE can benefit from improved connectivity and rebates ranging from $25,000 to $50,000. Skyservice, a long-term Gogo partner and authorized dealer, has been approved by both TCCA and FAA for these installations.