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Sep 30, 2021
Gogo Q3 2021 Earnings Report
Gogo's revenue increased driven by strong AVANCE sales and subscriber growth.
Key Takeaways
Gogo Inc. reported a strong third quarter with revenue growth driven by AVANCE sales and subscriber growth. The company reported total revenue of $91.1 million and net income of $1.7 million.
Gogo reported total revenue of $91.1 million, an increase of 17% year-over-year.
Net income was $1.7 million, compared to a net loss of $15.5 million in the same quarter last year.
Adjusted EBITDA was $36.1 million, up from $26.4 million year-over-year.
Gogo Business Aviation North America ATG subscriber base grew to 6,344, an increase of 11% year-over-year.
Gogo
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Gogo Revenue by Segment
Forward Guidance
Gogo expects revenue between $340 million and $350 million and adjusted EBITDA between $130 million and $140 million.
Positive Outlook
- Increased adoption of AVANCE platform.
- Strong subscriber growth in North America.
- Continued growth in air-to-ground (ATG) network.
- Expected increase in air travel.
- Growing demand for inflight connectivity.
Challenges Ahead
- Potential impact of global chip shortages.
- Uncertainty related to the COVID-19 pandemic.
- Competition from other inflight connectivity providers.
- Potential delays in aircraft installations.
- Fluctuations in foreign exchange rates.