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BROOMFIELD, Colo. -On Friday, Gogo Inc . (NASDAQ:GOGO), a leading provider of broadband connectivity services for business and military aviation, reported fourth-quarter revenue that surpassed analyst estimates.
The company’s shares were up 12.95% in premarket trading following the release.
The company announced Q4 revenue of $137.8 million, a 40.9% increase from $97.81 million in the same quarter last year and above analyst expectations. However, Gogo posted a net loss of $28.2 million or -$0.22 per share, compared to net income of $14.5 million or $0.11 per share in Q4 2023.
The revenue growth was primarily driven by the acquisition of Satcom Direct, which closed on December 3, 2024, and contributed $40.2 million to Q4 revenue. Service revenue jumped 46.8% YoY to $118.8 million, while equipment revenue rose 12.3% to $19 million.
"We believe the unique multi-orbit, multi-band platform enabled by the Gogo and Satcom Direct merger enables us to meet the needs of each segment of the BA and Military/Government mobility markets," said Chris Moore, CEO of Gogo.
For the full year 2025, Gogo forecasts revenue between $870 million and $910 million. The company expects adjusted EBITDA of $200-$220 million and free cash flow of $60-$90 million.
Gogo also announced it received FAA authorization to ship its Gogo Galileo HDX antenna starting in Q1 2025, which the company sees as a key growth driver.
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