Gogo reports Q3 EPS 16c, consensus 14c

Reports Q3 revenue $97.9M, consensus $103.78M. “We are in a two-year investment cycle launching Gogo 5G and Galileo to deliver order-of-magnitude improvements in network speed and coverage, grow our addressable market, and strengthen our competitive position,” said Oakleigh Thorne, Chairman and CEO. “We expect these investments to drive significant growth starting in 2025 and to drive substantial returns for shareholders.” “Despite near-term revenue headwinds, Gogo maintains our long-term targets of approximately 15-17% revenue growth from 2022-2027 and $150 million to $200 million of Free Cash Flow in 2025. Our guidance is underpinned by our strong outlook for our planned Gogo 5G and Gogo Galileo product launches, in an underpenetrated global market,” said Jessi Betjemann, Executive Vice President and CFO. “We expect to continue to strengthen our balance sheet while investing in our key growth initiatives.”