Gogo (NASDAQ: GOGO) reported Q4 EPS of $0.11, $0.01 better than the analyst estimate of $0.10. Revenue for the quarter came in at $97.81 million versus the consensus estimate of $96.49 million.

GUIDANCE:

Gogo sees FY2024 revenue of $410-425 million, versus the consensus of $420.8 million.

Adjusted EBITDA(1) in the range of $110 million to $125 million reflecting operating expenses of approximately $40 million for strategic and operational initiatives including Gogo 5G and Gogo Galileo and $4 million in legal expenses tied to the SmartSky litigation.
Free Cash Flow(1) in the range of $20 million to $40 million, which includes $45 million in reimbursements tied to the FCC Reimbursement Program.
Capital expenditures of approximately $45 million including $25 million for strategic initiatives including Gogo 5G, Gogo Galileo and the LTE network build.

The Company provides the following long-term financial targets:

Revenue growth at a compound annual growth rate of approximately 15%-17% from 2023 through 2028 versus the prior target of 15-17% from 2022 through 2027. The Company continues to expect that Gogo Galileo will contribute revenue beginning in 2025.
Annual Adjusted EBITDA Margin(1) reaching 40% in 2028 versus the prior target in the mid-40% range in 2027.
Reiterates Free Cash Flow(1) in the range of $150 million to $200 million in 2025, without the effect of the FCC Reimbursement program.

For earnings history and earnings-related data on Gogo (GOGO) click here.