Gogo Q2 2022 Earnings Report
Key Takeaways
Gogo Inc. reported record total revenue of $97.8 million, a 19% increase year-over-year, driven by strong growth in both service and equipment revenue. Net income from continuing operations was $22.0 million, and Adjusted EBITDA was $41.2 million, up 12% year-over-year.
Launched plans for a low earth orbit (LEO)-based global broadband service in business aviation.
Record total revenue of $97.8 million, a 19% increase compared to Q2 2021.
Total ATG aircraft online reached 6,654, a 10% increase compared to Q2 2021.
Net income from continuing operations increased to $22.0 million compared to a net loss of $66.4 million in Q2 2021.
Gogo
Gogo
Forward Guidance
The Company updates its guidance for 2022 with total revenue at the high end of the previously guided range of $390 million to $400 million and Adjusted EBITDA at the high end of the previously guided range of $150 million to $160 million. Free Cash Flow is expected to be $35 million to $45 million.
Positive Outlook
- Total revenue at the high end of the previously guided range of $390 million to $400 million.
- Adjusted EBITDA at the high end of the previously guided range of $150 million to $160 million.
- Includes a combined $9 million of estimated litigation expenses and estimated operating expenses for Global Broadband.
- Free Cash Flow of $35 million to $45 million.
- Capital expenditures of approximately $65 million of which approximately $50 million are tied to Gogo 5G.