Quarterly ResultMay 7, 2026, 04:13 PM
Gogo Q1 Net Income $13.1M; Revenue Down 1.7% to $226.3M
AI Summary
Gogo Inc. reported a net income of $13.1 million for the first quarter of 2026, an increase from $12.0 million in the prior year, resulting in basic and diluted EPS of $0.10. However, total revenue decreased by 1.7% to $226.3 million, primarily due to a decline in service revenue. The company experienced a significant shift from positive to negative cash flow from operating activities, moving from $32.5 million provided in Q1 2025 to $7.2 million used in Q1 2026.
Key Highlights
- Net income rose to $13.1 million in Q1 2026 from $12.0 million in Q1 2025.
- Total revenue decreased 1.7% to $226.3 million in Q1 2026 from $230.3 million in Q1 2025.
- Basic and diluted EPS increased to $0.10 in Q1 2026 from $0.09 in Q1 2025.
- Operating activities used $7.2 million cash in Q1 2026, compared to $32.5 million provided in Q1 2025.
- Service revenue fell to $187.7 million, while equipment revenue grew to $38.6 million.
- Business aviation service revenue decreased to $154.4 million in Q1 2026.
- Current portion of long-term debt increased to $23.6 million from $2.5 million.
- FCC Reimbursement Program receivable reached $41.2 million as of March 31, 2026.
Price Impact
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