Gogo Reiterates Long-Term Targets; Continues To See FY24 Total Revenue Of $410M-$425M, Est $416.256M

The company sees FY24 Adjusted EBITDA at the high end of the previously guided range of $110 million to $125 million reflecting operating expenses of approximately $33 million for strategic and operational initiatives including Gogo 5G and Gogo Galileo and $5 million in legal expenses tied to the SmartSky litigation.

 

The Company reiterates the following long-term financial targets:

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