Domo signs strategic collaboration agreement with AWS for AI solutions
BROOMFIELD, CO - Gogo (NASDAQ: GOGO), the aviation connectivity provider with a market capitalization of $906 million and robust financial health indicated by a current ratio of 1.77, has secured Federal Aviation Administration (FAA) approval for its Plane Simple® Ka-band tail mount terminal on Gulfstream GV and Gulfstream G550 aircraft. This certification, known as a Supplemental Type Certificate (STC), represents a significant advancement in the company’s Plane Simple antenna series rollout. According to InvestingPro analysis, Gogo maintains strong liquidity with assets exceeding short-term obligations.
The STC was developed at Gulfstream Aerospace Corp.’s headquarters in Savannah, Georgia, in collaboration with Gogo. This addition complements existing Plane Simple Ka-band STCs for Gulfstream G650 and G650ER aircraft. The newly approved terminal integrates with the SD Modem Unit (SMU) and SD Gateway Router, enhancing broadband distribution to passenger and crew devices aboard the aircraft.
The Ka-band hardware, designed to connect with Viasat GX satellites currently powering the Jet ConneX service, is now available for installation at authorized Gulfstream and Jet Aviation service centers. This equipment is the first in business aviation to be built with the aim of optimizing compatibility with Viasat’s next-generation GX satellites, which promise to deliver dual polarity signals and significantly increase data transmission capabilities.
Gogo CEO Chris Moore highlighted the benefits of the latest STC, stating, "The latest STC in our growing portfolio gives Gulfstream GV and G550 owners and operators access to more speed, more data, and more service plan flexibility." He also emphasized the terminal’s forward compatibility with future satellite technology and the comprehensive support provided by the Gogo ecosystem. The company’s focus on innovation is reflected in its financial performance, with revenue growing 11.85% in the last twelve months. InvestingPro subscribers can access detailed analysis and 8 additional key insights about Gogo’s growth prospects.
Additionally, Gogo is working on an aftermarket STC for Gulfstream G500 and G600 models, with expected completion later in the year. This effort illustrates the company’s commitment to enhancing connectivity for a wide range of aircraft within the business aviation sector.
Gogo, positioning itself as a multi-orbit, multi-band in-flight connectivity provider, offers a suite of connectivity solutions for various aircraft types, emphasizing reliability, security, and innovation. The company’s focus on connectivity technology for business and military/government aviation aims to exceed customer expectations for in-flight communication. With a net income of $13.75 million and analysts projecting continued profitability, Gogo shows promising fundamentals. For comprehensive analysis including Fair Value estimates and detailed financial metrics, investors can access the full Pro Research Report available on InvestingPro, part of their coverage of over 1,400 US equities.
This news is based on a press release statement from Gogo.
In other recent news, Gogo Inc reported its Q4 2024 earnings, revealing a significant earnings per share (EPS) miss, with a loss of $0.22 compared to the forecasted gain of $0.0567. Despite this, the company’s revenue reached $137.8 million, surpassing expectations of $97.28 million, marking a 41% year-over-year increase. The revenue growth was driven by a 47% rise in service revenue, highlighting the company’s strong market position. Gogo’s strategic innovations, including the acquisition of Satcom Direct, are expected to bolster future growth, as indicated by their 2025 revenue guidance set between $870 million and $910 million. Analyst firms such as Raymond James and Morgan Stanley have shown interest in Gogo’s competitive strategy, particularly against major players like Starlink. Additionally, Gogo’s stock demonstrated resilience, reflecting investor confidence in the company’s strategic direction. The company aims to achieve run-rate synergies at the high end of the $25 million to $30 million range following its recent merger. These developments underscore Gogo’s aggressive growth strategy and focus on expanding its market share in business aviation and military/government sectors.
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