Gogo (NASDAQ: GOGO) reported Q2 EPS of $0.01, $0.06 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $102.1 million versus the consensus estimate of $99.02 million.

GUIDANCE:

Gogo sees FY2024 revenue of $400-410 million, versus the consensus of $418.2 million.

Adjusted EBITDA(1) at the high end of the range of $110 million to $125 million, as previously guided, reflecting increased legal expenses and approximately $26 million of operating expenses for strategic and operational initiatives including Gogo 5G and Gogo Galileo.
Free Cash Flow(1) in the range of $35 million to $55 million versus prior guidance of $20 million to $40 million, which includes $40 million in reimbursements tied to the FCC Reimbursement Program.
Capital expenditures of approximately $35 million including $20 million for strategic initiatives including Gogo 5G, Gogo Galileo and the LTE network build, versus prior guidance of $45 million which included $30 million for strategic initiatives.

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