GOGO · Gogo Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $910.49M | $444.71M | $397.58M | $404.07M | $335.72M | $269.72M |
| Cost of Revenue | - | $67.56M | - | - | - | - |
| Gross Profit | - | $377.15M | - | - | - | - |
| R&D | $56.10M | $44.80M | $36.70M | $29.60M | $24.90M | $25.20M |
| SG&A | $116.74M | $125.07M | $57.28M | $58.20M | $51.55M | $54.47M |
| Total Operating Expenses | $796.41M | $393.44M | $273.41M | $261.74M | $215.09M | $193.37M |
| D&A | $60.28M | $18.97M | $16.70M | $12.58M | $15.48M | $14.17M |
| Operating Income | $114.08M | $51.27M | $124.17M | $142.33M | $120.63M | $76.35M |
| Interest Expense | $68.22M | $38.43M | $33.06M | $38.87M | $67.47M | $125.79M |
| Income Tax | $13.89M | $4.39M | ($48.08M) | $13.66M | ($187.23M) | ($146.0K) |
| Net Income | $12.92M | $13.75M | $145.68M | $92.06M | $152.74M | ($250.04M) |
| EPS - Basic | $0.10 | $0.11 | $1.12 | $0.75 | ($3.04) | - |
| EPS - Diluted | $0.09 | $0.10 | $1.09 | $0.71 | ($3.04) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $125.21M | $41.77M | $139.04M | $150.55M | $145.91M | $435.35M |
| Accounts Receivable | $112.56M | $111.51M | $48.23M | $54.21M | $37.73M | $39.83M |
| Inventory | $98.85M | $97.93M | $63.19M | $49.49M | $33.98M | $28.11M |
| Accounts Payable | $92.51M | $67.23M | $16.09M | $13.65M | $17.20M | $11.01M |
| Current Assets | $431.91M | $323.09M | $314.59M | $324.15M | $249.91M | $512.23M |
| Total Assets | $1.30B | $1.23B | $781.54M | $759.53M | $647.69M | $673.59M |
| Current Liabilities | $269.23M | $182.03M | $72.00M | $84.37M | $188.52M | $438.13M |
| Long-term Debt | $833.58M | $831.58M | $587.50M | $690.17M | $694.76M | $827.97M |
| Total Liabilities | $1.20B | $1.16B | $740.81M | $861.39M | $967.84M | $1.31B |
| Stockholders' Equity | $101.13M | $69.32M | $40.73M | ($101.87M) | ($320.15M) | ($641.11M) |
| Retained Earnings | ($1.19B) | ($1.20B) | ($1.21B) | ($1.36B) | ($1.45B) | ($1.63B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $124.49M | $41.42M | $78.97M | $103.41M | $66.70M | $4.51M |
| Investing Cash Flow | ($39.92M) | ($337.20M) | $29.86M | ($70.42M) | ($16.29M) | ($8.99M) |
| Financing Cash Flow | ($1.35M) | $198.69M | ($120.43M) | ($28.39M) | ($331.04M) | $44.48M |
| CapEx | $59.38M | $13.50M | $16.27M | $43.91M | $4.26M | $1.82M |
| Free Cash Flow | $65.11M | $27.92M | $62.70M | $59.49M | $62.43M | $2.69M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | 84.8% | - | - | - | - |
| Operating margin | 12.5% | 11.5% | 31.2% | 35.2% | 35.9% | 28.3% |
| EBITDA margin | 19.2% | 15.8% | 35.4% | 38.3% | 40.5% | 33.6% |
| Net margin | 1.4% | 3.1% | 36.6% | 22.8% | 45.5% | -92.7% |
| Free cash flow margin | 7.2% | 6.3% | 15.8% | 14.7% | 18.6% | 1.0% |
| FCF / Net income | 5.04 | 2.03 | 0.43 | 0.65 | 0.41 | -0.01 |
| R&D / Revenue | 6.2% | 10.1% | 9.2% | 7.3% | 7.4% | 9.3% |
| SG&A / Revenue | 12.8% | 28.1% | 14.4% | 14.4% | 15.4% | 20.2% |
| Effective tax rate | 51.8% | 24.2% | -49.3% | 12.9% | - | - |
| Return on assets | 1.0% | 1.1% | 18.6% | 12.1% | 23.6% | -37.1% |
| Return on equity | 12.8% | 19.8% | 357.7% | -90.4% | -47.7% | 39.0% |
| Return on invested capital | 6.1% | 4.3% | 19.8% | 21.1% | 25.4% | 32.3% |
| Liquidity | ||||||
| Current ratio | 1.60 | 1.77 | 4.37 | 3.84 | 1.33 | 1.17 |
| Quick ratio | 1.24 | 1.24 | 3.49 | 3.26 | 1.15 | 1.10 |
| Cash ratio | 0.47 | 0.23 | 1.93 | 1.78 | 0.77 | 0.99 |
| Leverage | ||||||
| Debt / Equity | 8.24 | 12.00 | 14.43 | -6.78 | -2.17 | -1.29 |
| Debt / Assets | 0.64 | 0.68 | 0.75 | 0.91 | 1.07 | 1.23 |
| Debt / EBITDA | 4.78 | 11.84 | 4.17 | 4.46 | 5.10 | 9.15 |
| Interest coverage | 1.7x | 1.3x | 3.8x | 3.7x | 1.8x | 0.6x |
| Equity multiplier | 12.89 | 17.73 | 19.19 | -7.46 | -2.02 | -1.05 |
| Liabilities / Assets | 0.92 | 0.94 | 0.95 | 1.13 | 1.49 | 1.95 |
| Efficiency | ||||||
| Asset turnover | 0.70 | 0.36 | 0.51 | 0.53 | 0.52 | 0.40 |
| Inventory turnover | - | 0.69 | - | - | - | - |
| Days sales outstanding | 45d | 92d | 44d | 49d | 41d | 54d |
| Days inventory outstanding | - | 529d | - | - | - | - |
| Days payable outstanding | - | 363d | - | - | - | - |
| Cash conversion cycle | - | 257d | - | - | - | - |
| Valuation | ||||||
| P / E | 51.8x | 80.9x | 9.3x | 20.8x | - | - |
| P / B | 0.0x | 0.0x | 0.0x | - | - | - |
| P / S | 0.0x | 0.0x | 0.0x | 0.0x | 0.0x | - |
| EV / EBITDA | 4.1x | 11.3x | 3.2x | 3.5x | 4.0x | - |
| Growth | ||||||
| Revenue growth (YoY) | 104.7% | 11.9% | -1.6% | 20.4% | 24.5% | -67.7% |
| Revenue CAGR (3y) | 31.1% | 9.8% | 13.8% | -21.5% | -17.4% | -27.2% |
| Revenue CAGR (5y) | 27.5% | -11.9% | -7.8% | -10.4% | -10.9% | -11.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 122.5% | -58.7% | -12.8% | 18.0% | 58.0% | 107.9% |
| Net income growth (YoY) | -6.0% | -90.6% | 58.2% | -39.7% | - | -71.3% |
| EPS growth (YoY) | -10.0% | -90.8% | 53.5% | - | - | - |
| EPS CAGR (3y) | -49.8% | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 133.2% | -55.5% | 5.4% | -4.7% | 2216.6% | - |
| FCF CAGR (5y) | 89.1% | - | - | - | - | - |
| Book value growth (YoY) | 45.9% | 70.2% | - | 68.2% | 50.1% | -60.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$2.46B totalService$774.39M · 31.5%
Business Aviation$657.91M · 26.8%
Satellite Broadband$316.64M · 12.9%
ATGBroadband$288.60M · 11.7%
Narrowband And Other$169.16M · 6.9%
Product$136.10M · 5.5%
Military Or Government$116.48M · 4.7%
Geographic
$910.49M totalUS$671.25M · 73.7%
Non Us$239.24M · 26.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.32
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Communications Services, NEC
Comparing Gogo Inc. against the 5 most active filers in the same SIC group.