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Gogo reports record third quarter revenue

Gogo logoGogo reported a record third quarter revenue of $104.0 million for Q3 2014, up 22% year-on-year.

Service revenue increased 28% to $81.6 million and equipment revenue increased 4% to $22.4 million year-over-year.

The company ended the quarter with 2,044 aircraft online, up 33 from 2,011 at September 30, 2013.

Average monthly service revenue per aircraft online (ARPA) increased to $10,134, up 22% from $8,338 in Q3 2013, driven by a 7% increase in take rate to 6.2% and an 8% increase in average revenue per session (ARPS) to $11.43 as a result of price increases and changes in product mix.

On the business aviation front, Gogo ended the quarter with 2,637 ATG systems online, up 43% from 1,847 at September 30, 2013, and 5,322 satellite systems online, up 4% from 5,127 at September 30, 2013.

Across the rest of the globe it ended the quarter with 35 aircraft online versus 19 aircraft online at June 30, 2014, as it continued to expand its Ku-band satellite connectivity service on Delta and JAL. Gogo says it expects to end 2014 somewhere near the midpoint of its previous guidance of 50 to 100 aircraft online.

Gogo’s President and CEO, Michael Small, said: “We had another strong quarter as we announced airline partnerships with Virgin Atlantic and Vietnam Airlines, signed agreements with Air Canada and AeroMexico, and in October, announced that we expanded our partnership with United Airlines to include its regional jet fleet.

“Furthermore, we delivered our first $100 million revenue quarter and took major steps towards monetising everyone on the plane by launching our wireless entertainment and text messaging solutions.

“We are also extremely pleased that our next-generation 2Ku global satellite connectivity technology has already gained significant traction in the market, with long-term commitments from two airlines and plans to conduct trials on three others.

“With our technology leadership, scale, operational expertise, and broad suite of communication solutions, Gogo is well positioned for long-term growth,” he added.

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Gogo reports record third quarter revenue was last modified: February 16th, 2017 by Steve Nichols
Filed in: Commercial Tags: , , , , ,

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