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Jun 30, 2020
Gogo Q2 2020 Earnings Report
Gogo's financial performance significantly impacted by COVID-19, with revenue declines across all segments, but cost control measures helped achieve break-even unlevered Free Cash Flow.
Key Takeaways
Gogo's Q2 2020 results were significantly affected by the COVID-19 pandemic, leading to a 55% decrease in consolidated revenue compared to Q2 2019. Despite the revenue decline, the company achieved break-even unlevered Free Cash Flow through aggressive cost control measures. The company is also in the process of selling its CA division.
Consolidated revenue was $96.6 million.
Net loss was $86.0 million.
BA Reportable Segment Profit was $27.2 million with nearly 50% segment profit margin.
Cash and cash equivalents were $156.3 million as of June 30, 2020.
Gogo
Gogo
Gogo Revenue by Segment
Revenue by Segment
Business Aviation Revenue
CapyFin.com Forward Guidance
Given the continued significant impact of COVID-19 on global air travel, Gogo is not providing 2020 financial guidance in this release.