Loading...
Loading...
- Gogo Inc GOGO reported second-quarter FY21 revenue growth of 51% year-on-year to $82.4 million, beating the analyst consensus of $75.14 million.
- Service revenue grew 47% Y/Y to $64.8 million. Equipment revenue rose 66% Y/Y to $17.6 million.
- Total ATG aircraft online (AOL) increased 12% Y/Y to 6,036.
- The average monthly service revenue per ATG aircraft online (ARPU) was $3,296.
- Total AVANCE units online grew 51% Y/Y to 2,067.
- Service revenue gross margin declined 34 bps to 76.6%. Equipment revenue gross margin expanded 379 bps to 37.9%.
- Adjusted EBITDA increased 70% Y/Y to $36.7 million. The margin expanded by 500 bps to 44.6%.
- Loss per share of $(0.63), of which $(0.73) is related to the loss on extinguishment of debt and settlement of convertible notes.
- It held $109.2 million in cash and equivalents. The company generated $7.8 million in free cash flow during the six months ended Jun. 30.
- Accelerating business aviation demand and AVANCE platform drove Gogo's record results, CEO Oakleigh Thorne said.
- It aims to further enhance the performance of AVANCE upon the Gogo 5G network launch in 2022.
- Outlook: Gogo raised the FY21 revenue guidance to $325 million - $335 million (prior $310 million - $325 million), versus the consensus of $318.6 million.
- The company increased the adjusted EBITDA outlook to at least $130 million (prior $115 million - $125 million).
- Gogo sees capital expenditures of $20 million - $25 million (prior $25 million - $30 million). It sees free cash flow of $25 million - $35 million (previous $10 million - $20 million).
- Price action: GOGO shares traded higher by 15.2% at $11.98 on the last check Thursday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in