Gogo Inc Reported Q3 Highlights

Gogo Inc

reported its third quarter earnings on Monday. Shares of the company are up 10 percent. Below are some key highlights from tis conference call: • We had three exciting new airline deals, hit major milestones with some of our newer products, continue to add capacity to our network, and hit $100 million in revenue for the first time. • These are just a few examples of how we continue to hit our goals, to sign new airlines, add capacity to the network, and hit our numbers. • We continue to make waves on the international front and are thrilled to add Virgin Atlantic and Vietnam Airlines as our airline partners. • We also finalized our agreements with Air Canada and AeroMxico. • Here in the U.S., we also announced a deal with the United for more than 200 regional jets and the trial of 2Ku on their Premium Service fleet. • In sum, we keep winning new airlines and building deeper relationships with existing airline partners. • We now have a backlog of approximately 1,000 new aircraft in Commercial Aviation. • Roughly 750 of those are in North America and 250 are in the rest of the world. • About 250 of the CA North America backlog represents fleet upgrades replacing the aircraft we're already on. • I feel great about Business Aviation, too. • For the quarter, we installed more than 200 ATG aircraft. We now have 2,600 BA aircraft on our ATG network. • We also installed more than 80 satellite-connected aircraft which brings that total to 5,300 online. • So, what does this mean? With the backlog in CA and the trends in BA, we • expect a record pace of aircraft installations between now and the end of • 2015. • Moving forward, most of the commercial aircraft in the U.S. are spoken for. • We feel great about our position here. We'll continue to focus on the rest of the world, but we like our track record so far. • We've won about 50% of the international aircraft awarded since we entered that market in 2012. • On the BA side, we see a big opportunity for growth as well. • Only about 13% of BA aircraft in North America have broadband connectivity today, leaving many thousands more for us to sign up. • We had three exciting new airline deals, hit major milestones with some of our newer products, continue to add capacity to our network, and hit $100 million in revenue for the first time. • These are just a few examples of how we continue to hit our goals, to sign new airlines, add capacity to the network, and hit our numbers. • First, let's get into our airline deals. • We continue to make waves on the international front and are thrilled to add Virgin Atlantic and Vietnam Airlines as our airline partners. • We also finalized our agreements with Air Canada and AeroMxico. • Here in the U.S., we also announced a deal with the United for more than 200 • regional jets and the trial of 2Ku on their Premium Service fleet. • In sum, we keep winning new airlines and building deeper relationships with existing airline partners. • We now have a backlog of approximately 1,000 new aircraft in Commercial Aviation. • Roughly 750 of those are in North America and 250 are in the rest of the world. Financials: • We achieved record revenue of $104 million for the quarter. • The year before I joined the company only four short years ago, we had full-year revenue of $37 million. • Now, we're doing almost that much in one month, truly an amazing milestone for us. • The $104 million represents the 22% increase in total revenue versus Q3 of last year. • Our service revenue of $81.6 million was up 28%, and our equipment revenue increased 4% to $22.4 million. • Our consolidated results include continued revenue and profitability growth in both the CA North America and BA segments and reflect increased investment on CA-Rest of World of $19.4 million.