GOGONasdaqCommunications Services, NECUS GAAP · USD

Gogo Inc.

Gogo Inc. provides in-flight connectivity technology for business aviation and military/government aircraft, combining air-to-ground, GEO satellite, and LEO satellite solutions. The company sells a mix of hardware, software, network access, and support services designed to keep aircraft connected across routes, geographies, and mission profiles.

Kysy yhtiöstä
Liikevaihto910milj. USD
+104,7 %v/v
Liikevoitto (EBIT)114milj. USD
+122,5 %v/v
EBIT-marginaali12,5%
+1,0 %-yks.v/v
Nettotulos12,9milj. USD
−6,0 %v/v
Vapaa kassavirta65,1milj. USD
+133,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

02004006008001 000milj. USD2020: 270 milj. USD2020: EBIT 76 milj. USD20202021: 336 milj. USD2021: EBIT 121 milj. USD20212022: 404 milj. USD2022: EBIT 142 milj. USD20222023: 398 milj. USD2023: EBIT 124 milj. USD20232024: 445 milj. USD2024: EBIT 51 milj. USD20242025: 910 milj. USD2025: EBIT 114 milj. USD2025910114
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
ATG Broadband55 %

Air-to-ground connectivity for business aircraft in North America, including AVANCE and Gogo 5G systems.

Satellite Broadband25 %

GEO and LEO in-flight broadband services delivered through partner satellite networks and Gogo Galileo.

Equipment15 %

Airborne hardware, antennas, and related installation equipment sold to aircraft operators and distributors.

Narrowband Services5 %

Legacy and reseller-based narrowband satellite connectivity for voice and data applications.

Tuotteet

Raportoitu · osuus liikevaihdosta
85,1%14,9%FY2025100 %
  • Services85,1 %
  • Products14,9 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Gogo sells primarily to business aviation operators, aircraft owners, and OEM/distribution channels that equip and support private and corporate aircraft. It also serves military and government aviation customers that need secure, mission-tailored connectivity and support. Customers buy Gogo because its multi-orbit platform offers coverage, redundancy, and integrated hardware/software support across aircraft types and geographies.

Business aviation

Operators and owners of small to large business aircraft buying ATG and satellite connectivity for passenger and operational communications.

Military/government aviation

Defense and government aircraft customers buying secure, turnkey in-flight connectivity and mission-tailored communications.

OEMs and dealers

Aircraft manufacturers and aftermarket dealers that install, certify, and resell Gogo equipment and services.

Legacy ATG installed base

Existing Gogo Biz and AVANCE aircraft online that generate recurring service revenue and equipment upgrade demand.

Strategia

Gogo is focused on expanding its next-generation connectivity platform through Gogo 5G, Gogo Galileo, and the LTE transition for legacy customers. It is also integrating Satcom Direct to broaden its product set and improve cross-selling across business aviation and government markets. The strategy emphasizes multi-orbit redundancy, network flexibility, and distributor/OEM relationships to defend share against satellite and aerospace competitors.

Scale Gogo 5GLyhyt aikaväli

New ATG technology is central to defending the North American business aviation base and improving performance.

Grow Gogo GalileoKeskipitkä aikaväli

LEO connectivity expands the product stack and improves global coverage and redundancy.

Integrate Satcom DirectKeskipitkä aikaväli

The acquisition should broaden the customer base and create cross-sell opportunities across business and government aviation.

Maantiede

2025

Gogo is headquartered in the United States and generates most of its business from North America, where its ATG network is strongest. The company also serves customers in over 100 countries through GEO and LEO satellite coverage, which makes international reach important even though the installed base is U.S.-centric. Its workforce is also concentrated in the United States, supporting engineering, sales, and customer support from a domestic base.

USA74 %
Other countries (US filing)26 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Gogo faces execution risk as it launches new platforms, integrates acquisitions, and migrates customers to new network architectures. Its business is also exposed to technology, supplier, regulatory, and competitive risks because customers expect high reliability, global coverage, and rapid certification in a market with strong aerospace and satellite competitors.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →New product and network execution risk1Supplier concentration2Competitive pressure3Regulatory approval delays4Acquisition integration risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. New product and network execution riskVaikutus: KorkeaTodennäköisyys: Korkea

    Gogo 5G and Gogo Galileo are newly deployed and must integrate with existing systems and customer expectations.

    KohdistuuProduct performanceNetwork reliabilityCustomer adoption
  2. Supplier concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company relies on single-source suppliers for key antenna, network, and component inputs.

    Kohdistuu: Manufacturing continuity and launch schedules

  3. Competitive pressureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Gogo competes with satellite operators, aerospace OEMs, and defense communications providers.

    KohdistuuPricingShareContract wins
  4. Regulatory approval delaysVaikutus: KeskitasoTodennäköisyys: Korkea

    Aircraft equipment and service deployment depend on regulatory approvals across jurisdictions.

    Kohdistuu: Certification and installation timing

  5. Acquisition integration riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company has stated that unsuccessful acquisitions or poor integration could hurt profitability and financial condition.

    Kohdistuu: Synergy realization and operating complexity

Kirjanpito

Harkinnanvaraiset erät
Revenue mix between service and equipment

Equipment shipments can raise revenue but lower margins, while service revenue is recurring and higher quality.

Vaikutus: Affects gross margin, operating leverage, and quarter-to-quarter comparability

Goodwill impairment

The company has one reporting unit and uses market and income approaches with subjective assumptions.

Vaikutus: Could create material non-cash charges if fair value falls below carrying value

Earnout liability fair value

Contingent consideration from the transaction is remeasured each period.

Vaikutus: Changes in valuation flow through earnings

Capitalized software and network development

LTE, Gogo 5G, and Galileo build-out costs are capitalized and then depreciated or amortized.

Vaikutus: Shifts expense recognition between periods and affects EBITDA and cash flow optics

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Päivitetty: 24.9.2026