Gogo Delivers 122% Revenue Growth and Sets All-Time Equipment Shipment Record in Q3 2025

Q3 2025 Results: Triple-Digit Revenue Growth Anchored by Satcom Direct Acquisition

Gogo Inc. has reported standout third-quarter results, marked by a 122% increase in total revenue to $223.6 million compared to the same quarter last year, driven primarily by the integration of Satcom Direct. Service revenue climbed an even higher 132% year-over-year to $190.0 million, underscoring strong customer demand and expanded market reach. This growth was fueled in part by Gogo’s broad portfolio in both business aviation and the newly integrated military/government mobility segments.

While total revenue saw a slight 1% decline sequentially, adjusted EBITDA still grew 61% from the prior year to reach $56.2 million. The company did report a net loss of $1.9 million, including a one-time $15 million earn-out accrual linked to the Satcom Direct acquisition, yet operating cash flow soared to $46.8 million, reflecting robust underlying performance and cash management.

Record-Setting Shipments: All-Time High in ATG Units Sold

The quarter saw Gogo break shipment records with 437 Air-to-Ground (ATG) equipment units sold, marking the highest quarterly total in the company's history and an 8% increase from the previous quarter. AVANCE units, which account for 75% of total ATG aircraft online as of September 30, numbered 208 this quarter, reflecting their increasing importance in Gogo’s installed base. Meanwhile, C-1 unit shipments soared 78% from Q2, anticipating demand for connectivity as Gogo prepares its new LTE network for a 2026 launch.

Shipments of Gogo’s next-generation Low Earth Orbit (LEO) HDX antenna surpassed 200 units year-to-date—a sharp acceleration from 77 reported just three months earlier. This growth highlights robust customer uptake and market confidence in Gogo’s future product roadmap.

Financial Guidance Maintained at High End—Management Eyes 2026 Product Acceleration

Reiterating its full-year 2025 guidance, Gogo expects revenue, Adjusted EBITDA, and Free Cash Flow all at the upper bounds of their previously communicated ranges. The company projects revenue of $870 million to $910 million, Adjusted EBITDA between $200 million and $220 million, and free cash flow between $60 million and $90 million—an outlook fueled by anticipated growth in both existing and newly launched products such as 5G ATG, HDX, and FDX antennas.

Leadership expects the bulk of new installations and further demand acceleration in 2026, especially as next-gen product launches gain momentum and strategic wins—like VistaJet’s deployment and a significant U.S. Federal multi-band contract—solidify Gogo’s role in both commercial and government markets. Investments in network launches and R&D remain disciplined, positioning the company for operational leverage as capex is anticipated to decline and new product revenues come online.

Balance Sheet Strengthens: Cash Rises, Strategic Investments Continue

Gogo finished the quarter with cash and cash equivalents of $133.6 million, up from $41.8 million at the end of last year. While the company maintains a significant debt load—$833.0 million in long-term debt—the bolstered cash position supports its strategic product investments and integration of Satcom Direct.

Takeaway: Strategic Execution and Innovation Drive Outlook

Gogo’s Q3 2025 results illustrate a company successfully integrating a major acquisition, rapidly scaling up shipments of new technologies, and meeting robust customer demand across its business aviation and government segments. While profitability faced some pressure from one-time charges and integration expenses, the fundamental financial trajectory remains solid. With strong guidance and numerous high-profile contract wins, Gogo is well-positioned to capitalize on the next wave of connectivity demand as it rolls out new product lines in the coming year.

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