Gogo (GOGO) Tops Q4 EPS by 5c, Offers Guidance

Gogo (NASDAQ: GOGO) reported Q4 EPS of $0.21, $0.05 better than the analyst estimate of $0.16. Revenue for the quarter came in at $108.2 million versus the consensus estimate of $105.72 million.

GUIDANCE:

Gogo sees FY2023 revenue of $440-455 million, versus the consensus of $449.4 million.

• Adjusted EBITDA(1) of $150 million to $160 million, reflecting operating expenses of approximately $30 million for strategic and operational initiatives including Gogo 5G and Global Broadband.
• Free Cash Flow(1) of $80 million to $90 million. Free Cash Flow includes capital expenditures of approximately $30 million to $40 million, of which $20 million is tied to Gogo 5G.

The Company provides the following long-term financial targets:

• Revenue growth at a compound annual growth rate of approximately 17% from 2022 through 2027, with Global Broadband contributing to revenue beginning in 2025.
• Annual Adjusted EBITDA Margin(1) in the mid-40% range by 2027.
• Free Cash Flow(1) of more than $200 million beginning in 2025 and growing thereafter, consistent with the prior target.

For earnings history and earnings-related data on Gogo (GOGO) click here.

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