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Gogo announces 2Q14 financial results

Gogo’s second financial quarter (ending 30 June) yielded record revenues of $99.5 million in comparison with $79.4 million in the same quarter 2013, due to an increase in both service and equipment revenues.

Adjusted EBITDA for 2Q14 was $3.1 million, down from $3.8 million for 2Q13, as a result of increased investment in the company’s comercial aviation business outside North America as it continued to expand internationally.

Gogo's president and CEO Michael Small explained the reasons behind Gogo’s positive results, saying, “We made solid progress in operationalising our international business. We launched inflight connectivity service on Japan Airlines, expanded our global satellite network footprint and continued to increase our satellite solutions STC portfolio.”

The number of “aircraft online” increased upon last year in all three sectors of Gogo’s business: Commercial Aviation – North America (CA-NA), Business Aviation (BA) and Commercial Aviation – Rest of the World (CA-ROW). However, the growth of international business also meant a 25% increase in Gogo’s 2Q14 operating expenses compared with those in 2Q13.

"We are very pleased with our financial and operating results for the quarter and expect continued strong growth in revenue fuelled by strong demand for connectivity, wireless in-flight entertainment, text messaging and other innovative products and services that we bring to market”, concluded Small.

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