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Gogo Q3 revenue falls, net loss widens on business aviation weakness

By Reuters News


Overview

  • Aviation connectivity provider's Q3 revenue fell 5% yr/yr

  • Company posted Q3 net loss and adjusted EBITDA declined 27% yr/yr

  • Revenue decline driven by lower business aviation service revenue, partly offset by military/government growth


Outlook

  • Gogo sees 2026 total revenue between $870 mln and $895 mln

  • Company expects 2026 adjusted EBITDA of $175 mln to $185 mln

  • Gogo forecasts 2026 free cash flow of $65 mln to $85 mln


Result Drivers

  • BUSINESS AVIATION WEAKNESS - Co said revenue decline was driven by a 10% drop in business aviation service revenue

  • MILITARY/GOVERNMENT GROWTH - Military/government service revenue rose 36% yr/yr, partly offsetting declines elsewhere

  • GALILEO SHIPMENTS - Shipments of Gogo Galileo equipment nearly doubled yr/yr, reflecting increased demand for LEO connectivity


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$213.20 mln

$216.53 mln (2 Analysts)

Q3 Loss Per Share

$0.02

Q3 Net Loss

$3.20 mln

Q3 Adjusted EBITDA

$41 mln


Reuters Recommended Reads

  • Nov 6 - Veon says fuel shortages pose biggest threat as it leans on satellite data growth

  • Nov 4 - Lumen Q3 revenue falls 12%, slightly misses estimates

  • Nov 5 - BlackSky Q3 revenue more than doubles, outlook raised


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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