Gogo Inc. GOGO
Gogo Inc. ("Gogo", the "Company", "we" or "us") is the only multi-orbit, multi-band in-flight connectivity provider offering connectivity technology purpose-built for business and military/government aviation. We have a holistic approach of providing broadband connectivity services to our customers from small to large aircraft and heavy jets through our air-to-ground ("ATG") technology and integrated low earth orbit ("LEO") and geostationary earth orbit ("GEO") satellite solutions provided by multiple satellite constellations owned by our satellite network partners. We aim to deliver to our customers consistent, global tip-to-tail connectivity with a suite of software, hardware, and advanced infrastructure supported by a 24/7/365 in-person customer support team to fit their every need.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $910.5M | $444.7M | $397.6M | $404.1M | $335.7M | $269.7M | $309.0M | $290.2M | $699.1M | $596.5M |
| Cost of revenue | — | $67.6M | — | — | — | — | — | — | — | — |
| Gross profit | — | $377.1M | — | — | — | — | — | — | — | — |
| R&D | $56.1M | $44.8M | $36.7M | $29.6M | $24.9M | $25.2M | $26.0M | $18.5M | $78.1M | $45.9M |
| SG&A | $116.7M | $125.1M | $57.3M | $58.2M | $51.6M | $54.5M | $54.6M | $57.9M | $93.7M | $84.9M |
| Total operating expenses | $796.4M | $393.4M | $273.4M | $261.7M | $215.1M | $193.4M | $212.5M | $207.7M | $763.4M | $623.2M |
| Operating income | $114.1M | $51.3M | $124.2M | $142.3M | $120.6M | $76.4M | $96.5M | $82.4M | -$64.3M | -$26.6M |
| Interest expense | $68.2M | $38.4M | $33.1M | $38.9M | $67.5M | $125.8M | $130.5M | $122.6M | $111.9M | $83.6M |
| Pre-tax income | $26.8M | $18.1M | $97.6M | $105.7M | -$30.6M | -$48.7M | -$87.9M | -$55.8M | -$174.0M | -$123.2M |
| Income tax | $13.9M | $4.4M | $48.1M | $13.7M | $187.2M | $146.0K | $563.0K | $3.4M | $2.0M | $1.3M |
| Net income | $12.9M | $13.7M | $145.7M | $92.1M | $152.7M | -$250.0M | -$146.0M | -$162.0M | -$172.0M | -$124.5M |
| EPS, basic | 0.10 | 0.11 | 1.12 | 0.75 | 1.46 | -3.04 | -1.81 | — | — | — |
| EPS, diluted | 0.09 | 0.10 | 1.09 | 0.71 | 1.28 | -3.04 | -1.81 | -2.02 | -2.17 | -1.58 |
| Shares, diluted (wtd. avg.) | $136.6K | $131.5K | $133.3K | $133.9K | $127.2K | $82.3K | $80.8K | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $125.2M | $41.8M | $139.0M | $150.9M | $41.8M | $435.9M | $177.7M | $191.1M | $203.7M | $125.2M |
| Short-term investments | — | — | $0 | $24.8M | $0 | — | — | $39.3M | $212.8M | $338.5M |
| Receivables | $112.6M | $111.5M | $48.2M | $54.2M | $37.7M | $39.8M | $42.3M | $134.3M | $117.9M | $73.7M |
| Inventory | $98.9M | $97.9M | $63.2M | $49.5M | $34.0M | $28.1M | $35.2M | $193.0M | $45.5M | $50.3M |
| Total current assets | $431.9M | $323.1M | $314.6M | $324.1M | $249.9M | $512.2M | $424.8M | $585.5M | $592.9M | $604.7M |
| Property, plant and equipment | $117.3M | $119.1M | $98.1M | $104.6M | $63.7M | $63.5M | $69.2M | $511.9M | $656.0M | $519.8M |
| Goodwill | $193.2M | $184.8M | $620.0K | $620.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K | $600.0K |
| Other intangibles | $248.8M | $275.3M | $55.0M | $48.9M | $48.9M | $52.1M | $51.2M | $82.9M | $86.5M | $85.2M |
| Total assets | $1.30B | $1.23B | $781.5M | $759.5M | $647.7M | $673.6M | $1.21B | $1.27B | $1.40B | $1.25B |
| Accounts payable | $92.5M | $67.2M | $16.1M | $13.6M | $17.2M | $11.0M | $5.5M | $23.9M | $27.1M | $31.7M |
| Short-term debt | $2.5M | $2.5M | $7.2M | $7.2M | $109.6M | $341.0M | — | — | — | — |
| Total current liabilities | $269.2M | $182.0M | $72.0M | $84.4M | $188.5M | $438.1M | $252.6M | $299.7M | $316.3M | $251.1M |
| Long-term debt | $833.6M | $831.6M | $587.5M | $690.2M | $694.8M | $828.0M | $1.10B | $1.02B | $1.00B | $800.7M |
| Total liabilities | $1.20B | $1.16B | $740.8M | $861.4M | $967.8M | $1.31B | $1.61B | $1.53B | $1.59B | $1.29B |
| Retained earnings | -$1.19B | -$1.20B | -$1.21B | -$1.36B | -$1.45B | -$1.63B | -$1.38B | -$1.23B | -$1.09B | -$917.4M |
| Total equity | $101.1M | $69.3M | $40.7M | -$101.9M | -$320.2M | -$641.1M | -$398.9M | -$268.8M | -$191.6M | -$40.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $124.5M | $41.4M | $79.0M | $103.4M | $66.7M | $4.5M | -$12.9M | $1.9M | $60.3M | $65.0M |
| Depreciation and amortisation | $60.3M | $19.0M | $16.7M | $12.6M | $15.5M | $14.2M | $16.7M | $14.4M | $145.5M | $105.6M |
| Stock-based compensation | $24.1M | $20.8M | $21.3M | $19.1M | $13.3M | $7.8M | $8.7M | $8.5M | $19.8M | $17.6M |
| Capital expenditure | $59.4M | $13.5M | $16.3M | $43.9M | $4.3M | $1.8M | $1.5M | $2.7M | $252.4M | $148.3M |
| Investing cash flow | -$39.9M | -$337.2M | $29.9M | -$70.4M | -$16.3M | -$9.0M | $32.9M | $162.8M | -$157.4M | -$295.8M |
| Financing cash flow | -$1.4M | $198.7M | -$120.4M | -$28.4M | -$331.0M | $44.5M | -$2.8M | $29.7M | $174.9M | $201.1M |
| Buybacks | $0 | $33.2M | $4.8M | $18.4M | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-158978.
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