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Dec 31, 2021
Gogo Q4 2021 Earnings Report
Announced record fourth quarter and 2021 financial results and provided 2022 guidance and updated long-term targets.
Key Takeaways
Gogo Inc. reported a record fourth quarter with revenue of $92.3 million, up 19% year-over-year, and net income from continuing operations of $209.1 million. The company is on track for commercial launch of its 5G network in the second half of 2022.
Record total revenue of $92.3 million, a 19% increase compared to Q4 2020.
Total ATG aircraft online reached 6,400, an 11% increase compared to Q4 2020.
Average Monthly Revenue per ATG aircraft online (ARPU) of $3,301, an 8% increase compared to Q4 2020.
Net income from continuing operations increased to $209.1 million from a net loss of ($16.1) million in Q4 2020.
Forward Guidance
The Company is providing the following guidance for 2022. This guidance is derived from the Company’s baseline budget and includes planned investments in Gogo 5G but does not include potential strategic investments currently under consideration (including a global broadband initiative).
Positive Outlook
- Total revenue in the range of $380 million to $395 million
- Adjusted EBITDA in the range of $150 million to $160 million, reflecting a planned increase in Gogo 5G investment
- Free Cash Flow of $25 million to $45 million, including cash interest payments of approximately $36 million and capital expenditures of approximately $65 million, with approximately $50 million of the capital expenditures tied to Gogo 5G
- Revenue growth at a compound annual growth rate of approximately 15% from 2021 through 2026
- Annual Adjusted EBITDA Margin approaching 50% in 2026, up from the low 40%'s in 2022 and 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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