Gogo (GOGO) Financials

$7.60 -0.20 (-2.62%)

As of 11:31 AM Eastern

Annual Income Statements for Gogo

This table shows Gogo's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-85	-108	-125	-172	-162	-146	-250	153	92	146	14
Consolidated Net Income / (Loss)	-85	-108	-125	-172	-162	-146	-250	153	92	146	14
Net Income / (Loss) Continuing Operations	-85	-108	-125	-172	-52	-88	-49	157	92	146	14
Total Pre-Tax Income	-83	-106	-123	-174	-56	-88	-49	-31	106	98	18
Total Operating Income	-51	-45	-27	-64	82	97	76	121	142	124	51
Total Gross Profit	408	501	597	699	198	309	270	234	404	398	445
Total Revenue	408	501	597	699	290	309	270	336	404	398	445
Operating Revenue	408	501	597	699	290	309	270	336	404	398	445
Total Cost of Revenue	0.00	0.00	0.00	0.00	93	0.00	0.00	102	0.00	0.00	0.00
Total Operating Expenses	459	546	623	763	115	212	193	113	262	273	393
Selling, General & Admin Expense	71	87	85	94	58	55	54	52	58	57	125
Marketing Expense	42	56	61	64	24	21	15	21	25	30	38
Research & Development Expense	70	87	97	133	19	26	25	25	30	37	45
Depreciation Expense	64	87	106	145	14	17	14	15	13	17	19
Amortization Expense	212	228	275	327	-	94	84	-	136	133	167
Total Other Income / (Expense), net	-33	-62	-97	-110	-138	-184	-125	-151	-37	-27	-33
Interest Expense	33	59	99	112	142	188	126	151	39	35	38
Interest & Investment Income	0.06	0.18	1.64	2.96	4.12	4.00	0.72	0.19	2.39	7.40	8.34
Other Income / (Expense), net	-0.01	-2.83	0.86	-0.75	-0.08	-0.03	0.01	-0.03	-0.12	1.32	-3.04
Income Tax Expense	1.18	1.24	1.31	-2.00	-3.35	0.56	-0.15	-187	14	-48	4.39
Basic Earnings per Share	($0.99)	($1.35)	($1.58)	($2.17)	($2.02)	($1.81)	($3.04)	$1.46	$0.75	$1.12	$0.11
Weighted Average Basic Shares Outstanding	85.15M	79.70M	78.92M	79.41M	80.04M	80.77M	82.27M	103.40M	123.27M	129.75M	128.53M
Diluted Earnings per Share	($0.99)	($1.35)	($1.58)	($2.17)	($2.02)	($1.81)	($3.04)	$1.28	$0.71	$1.09	$0.10
Weighted Average Diluted Shares Outstanding	85.15M	79.70M	78.92M	79.41M	80.04M	80.77M	82.27M	127.21M	133.92M	133.28M	131.46M
Weighted Average Basic & Diluted Shares Outstanding	85.15M	79.70M	78.92M	79.41M	80.04M	80.77M	82.27M	110.88M	127.91M	128.07M	131.35M

This table shows Gogo's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	20	86	20	90	21	14	30	0.84	11	-28
Consolidated Net Income / (Loss)	20	86	20	90	21	14	30	0.84	11	-28
Net Income / (Loss) Continuing Operations	0.00	92	0.00	0.00	0.00	146	0.00	0.00	0.00	14
Total Pre-Tax Income	28	89	25	26	28	19	41	0.97	12	-36
Total Operating Income	36	97	32	34	33	25	35	22	19	-24
Total Gross Profit	105	234	99	103	98	98	71	102	101	171
Total Revenue	105	201	99	103	98	98	104	102	101	138
Operating Revenue	105	-	99	103	98	98	104	102	101	138
Total Cost of Revenue	0.00	-33	0.00	0.00	0.00	-	34	0.00	0.00	-34
Total Operating Expenses	69	136	67	69	65	73	36	80	81	196
Selling, General & Admin Expense	15	14	14	13	13	17	15	22	25	64
Marketing Expense	6.24	6.93	6.88	7.86	7.02	8.05	8.28	9.04	8.55	12
Research & Development Expense	7.99	-	7.88	9.23	9.15	10	9.22	10	9.76	15
Depreciation Expense	2.72	2.57	2.79	4.54	4.69	4.68	3.84	3.89	4.02	7.23
Total Other Income / (Expense), net	-8.19	-7.96	-7.09	-8.02	-5.68	-5.77	6.74	-21	-6.92	-12
Interest Expense	8.78	9.43	8.98	10	8.03	8.25	8.41	8.11	9.67	12
Interest & Investment Income	0.69	1.46	1.92	1.97	1.62	1.89	2.05	2.12	2.42	1.75
Other Income / (Expense), net	-0.10	-	-0.03	0.04	0.73	0.58	13	-15	0.33	-1.76
Income Tax Expense	7.98	3.04	4.39	-64	6.73	4.64	11	0.13	1.52	-8.19
Basic Earnings per Share	$0.16	$0.21	$0.16	$0.69	$0.16	$0.11	$0.24	$0.01	$0.08	($0.22)
Weighted Average Basic Shares Outstanding	129.91M	123.27M	129.14M	129.81M	129.95M	129.75M	129.27M	128.30M	127.92M	128.53M
Diluted Earnings per Share	$0.15	$0.21	$0.15	$0.67	$0.16	$0.11	$0.23	$0.01	$0.08	($0.22)
Weighted Average Diluted Shares Outstanding	134.22M	133.92M	133.60M	133.23M	133.32M	133.28M	132.44M	131.73M	130.39M	131.46M
Weighted Average Basic & Diluted Shares Outstanding	127.27M	127.91M	128.59M	128.70M	128.84M	128.07M	127.10M	126.95M	125.78M	131.35M

This table details how cash moves in and out of Gogo's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-135	16	-30	78	-13	-129	258	-290	4.61	-12	-97
Net Cash From Operating Activities	29	105	65	60	1.89	-129	4.51	67	103	79	41
Net Cash From Continuing Operating Activities	29	105	65	60	1.89	-13	4.51	67	103	79	41
Net Income / (Loss) Continuing Operations	-85	-108	-125	-172	-52	-88	-49	157	92	146	14
Consolidated Net Income / (Loss)	-85	-108	-125	-172	-52	-88	-49	157	92	146	14
Depreciation Expense	64	87	106	145	14	17	14	15	13	17	19
Amortization Expense	3.17	17	21	22	23	20	20	5.08	3.67	4.30	5.66
Non-Cash Adjustments To Reconcile Net Income	13	25	73	36	27	-81	0.29	83	23	18	23
Changes in Operating Assets and Liabilities, net	33	84	-11	29	-9.20	4.05	19	-194	-28	-105	-20
Net Cash From Investing Activities	-232	-293	-296	-157	163	33	-8.99	-16	-70	30	-337
Net Cash From Continuing Investing Activities	-232	-293	-296	-157	163	33	-8.99	-16	-70	30	-337
Purchase of Property, Plant & Equipment	-132	-135	-148	-252	-2.73	-1.49	-1.82	-4.26	-44	-16	-14
Acquisitions	-17	-18	-29	-28	-7.92	-4.98	-7.17	-4.40	-6.00	-7.82	-346
Purchase of Investments	-120	-369	-363	-317	-39	-	0.00	0.00	-25	-54	-5.00
Sale and/or Maturity of Investments	40	230	244	443	213	39	0.00	0.00	0.00	81	0.00
Other Investing Activities, net	-2.50	-0.12	0.08	-2.85	-	0.00	0.00	-8.63	4.29	28	28
Net Cash From Financing Activities	68	203	201	175	30	-2.83	44	-331	-28	-120	199
Net Cash From Continuing Financing Activities	68	203	201	175	30	-2.83	44	-331	-28	-120	199
Repayment of Debt	-2.99	-15	-14	-6.59	-208	-924	-28	-1,044	0.00	0.00	-4.02
Repurchase of Common Equity	-	-	-	-	-	-	0.00	0.00	-18	-4.82	-33
Issuance of Debt	75	362	525	182	238	921	78	721	0.00	0.00	245
Other Financing Activities, net	-4.01	-144	-310	-0.23	0.40	0.33	-4.77	-8.16	-10	-116	-9.10
Effect of Exchange Rate Changes	-0.04	0.79	-	-	-	-0.25	-1.95	0.04	0.01	0.09	0.03
Cash Interest Paid	30	39	28	86	101	141	106	71	41	68	56
Cash Income Taxes Paid	0.41	0.45	0.31	0.10	0.40	0.49	0.40	0.38	0.38	1.00	3.10

This table details how cash moves in and out of Gogo's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-12	-1.61	13	-66	-11	53	14	8.73	15	-135
Net Cash From Operating Activities	28	31	19	16	19	26	30	25	25	-38
Net Cash From Continuing Operating Activities	28	31	19	16	19	26	30	25	25	-38
Net Income / (Loss) Continuing Operations	20	28	20	90	21	14	30	0.84	11	-28
Consolidated Net Income / (Loss)	20	28	20	90	21	14	30	0.84	11	-28
Depreciation Expense	2.72	2.57	2.79	4.54	4.69	4.68	3.84	3.89	4.02	7.23
Amortization Expense	0.82	0.84	0.87	0.88	1.22	1.32	1.48	1.32	1.30	1.56
Non-Cash Adjustments To Reconcile Net Income	6.90	9.17	5.93	-2.61	8.72	5.54	4.73	6.59	0.22	11
Changes in Operating Assets and Liabilities, net	-2.91	-8.78	-12	-77	-17	0.15	-11	12	8.97	-30
Net Cash From Investing Activities	-19	-31	1.56	22	-27	33	-2.60	-0.08	-0.54	-334
Net Cash From Continuing Investing Activities	-19	-31	1.56	22	-27	33	-2.60	-0.08	-0.54	-334
Purchase of Property, Plant & Equipment	-18	-8.73	-3.11	-7.29	-3.60	-2.26	-1.45	-3.39	-4.42	-4.25
Acquisitions	-2.28	-1.26	-1.48	-1.47	-1.76	-3.11	-2.72	-3.14	-3.78	-337
Other Investing Activities, net	0.80	3.49	6.09	6.40	7.68	7.64	6.57	6.45	7.66	6.91
Net Cash From Financing Activities	-20	-1.74	-7.45	-104	-2.41	-6.55	-13	-16	-9.45	238
Net Cash From Continuing Financing Activities	-20	-1.74	-7.45	-104	-2.41	-6.55	-13	-16	-9.45	238
Repurchase of Common Equity	-	-	0.00	-	-	-4.82	-10	-13	-7.61	-2.42
Other Financing Activities, net	-2.03	-1.74	-7.45	-104	-2.41	-1.73	-3.16	-3.14	-1.84	-0.97
Cash Interest Paid	9.16	12	15	25	14	14	14	14	15	13
Cash Income Taxes Paid	0.18	0.09	0.01	0.36	0.06	0.58	0.01	1.14	1.12	0.83

This table presents Gogo's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	756	1,004	1,246	985	1,265	1,215	674	648	760	782	1,229
Total Current Assets	295	468	605	262	586	425	512	250	324	315	323
Cash & Equivalents	211	147	117	196	184	170	435	146	151	139	42
Accounts Receivable	49	69	74	-	134	42	40	38	54	48	112
Inventories, net	22	21	50	46	193	35	28	34	49	63	98
Prepaid Expenses	13	11	25	20	35	6.81	8.93	32	45	64	55
Other Current Assets	-	-	-	-	-	-	-	-	-	-	17
Plant, Property, & Equipment, net	363	434	520	656	512	69	63	64	105	98	119
Total Noncurrent Assets	98	102	122	67	168	721	98	334	331	369	787
Long-Term Investments	-	-	-	-	-	-	-	-	-	-	4.21
Goodwill	0.62	0.62	86	-	83	52	53	50	50	0.62	185
Intangible Assets	78	79	-	-	-	-	-	-	-	55	275
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	0.00	185	163	217	217
Other Noncurrent Operating Assets	11	15	36	67	84	48	45	99	119	97	105
Total Liabilities & Shareholders' Equity	756	1,004	1,246	-911	1,265	1,215	674	648	760	782	1,229
Total Liabilities	559	938	1,287	178	1,534	1,614	1,315	968	861	741	1,160
Total Current Liabilities	151	198	251	43	300	253	438	189	84	72	182
Short-Term Debt	10	21	2.80	-	-	0.00	341	110	7.25	7.25	2.50
Accounts Payable	41	28	32	-	24	5.50	11	17	14	16	67
Accrued Expenses	66	102	148	-	213	48	83	60	60	48	82
Current Deferred Revenue	34	46	69	43	63	2.23	3.11	1.83	3.42	1.00	30
Total Noncurrent Liabilities	407	741	1,036	135	1,234	1,361	877	779	777	669	978
Long-Term Debt	291	543	801	-	1,025	1,101	828	695	690	588	832
Capital Lease Obligations	84	122	136	-	129	-	38	-	-	-	68
Other Noncurrent Operating Liabilities	26	69	99	135	80	50	11	85	87	81	78
Commitments & Contingencies	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	198	66	-40	-1,089	-269	-399	-641	-320	-102	41	69
Total Preferred & Common Equity	198	66	-40	-192	-269	-399	-641	-320	-102	41	69
Total Common Equity	198	66	-40	-1,089	-269	-399	-641	-320	-102	41	69
Common Stock	884	861	879	-	963	980	1,089	1,258	1,386	1,402	1,460
Retained Earnings	-685	-793	-917	-1,089	-1,229	-1,376	-1,630	-1,452	-1,360	-1,214	-1,200
Treasury Stock	-	-	-	-	-	0.00	-99	-129	-158	-163	-196
Accumulated Other Comprehensive Income / (Loss)	-1.20	-2.19	-2.16	-	-3.55	-2.26	-1.01	1.79	30	16	5.57

This table presents Gogo's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	729	759	746	767	809	803	811
Total Current Assets	290	335	257	287	335	345	347
Cash & Equivalents	152	163	97	86	153	162	177
Accounts Receivable	49	47	51	49	49	54	46
Inventories, net	47	54	60	63	69	69	75
Prepaid Expenses	42	46	49	64	64	61	50
Plant, Property, & Equipment, net	99	105	104	101	96	95	94
Total Noncurrent Assets	340	319	385	379	378	363	369
Noncurrent Note & Lease Receivables	-	-	-	-	18	3.44	3.76
Goodwill	50	50	51	53	58	61	65
Noncurrent Deferred & Refundable Income Taxes	164	161	224	218	206	207	209
Other Noncurrent Operating Assets	125	108	110	109	95	91	91
Total Liabilities & Shareholders' Equity	729	759	746	767	809	803	811
Total Liabilities	857	847	736	734	747	751	758
Total Current Liabilities	78	73	62	63	80	87	97
Short-Term Debt	7.25	7.25	7.25	7.25	7.25	7.25	7.25
Accounts Payable	18	14	17	15	23	25	26
Accrued Expenses	51	49	36	38	48	53	61
Current Deferred Revenue	1.60	2.36	1.88	1.70	2.15	1.86	1.84
Total Noncurrent Liabilities	779	774	674	671	667	663	661
Long-Term Debt	691	689	590	589	586	585	584
Other Noncurrent Operating Liabilities	88	85	84	83	8.59	78	77
Commitments & Contingencies	-	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-128	-88	9.21	34	62	52	53
Total Preferred & Common Equity	-128	-88	9.21	34	62	52	53
Total Common Equity	-128	-88	9.21	34	62	52	53
Common Stock	1,384	1,386	1,392	1,396	1,404	1,409	1,414
Retained Earnings	-1,387	-1,339	-1,249	-1,228	-1,183	-1,183	-1,172
Treasury Stock	-158	-158	-158	-158	-173	-186	-194
Accumulated Other Comprehensive Income / (Loss)	33	23	25	24	15	12	4.96

This table displays calculated financial ratios and metrics derived from Gogo's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.49%	22.62%	19.10%	17.19%	-58.50%	6.49%	-12.71%	24.47%	20.36%	-1.61%	11.85%
EBITDA Growth	174.87%	231.01%	80.36%	1.32%	16.32%	11.68%	-17.15%	27.95%	12.25%	-7.56%	-50.26%
EBIT Growth	37.41%	5.94%	45.93%	-152.25%	226.65%	17.20%	-20.87%	57.94%	17.91%	-11.76%	-61.56%
NOPAT Growth	-13.44%	11.50%	40.60%	-141.25%	228.25%	17.13%	-20.91%	57.99%	46.78%	49.53%	-79.03%
Net Income Growth	24.04%	-27.30%	-15.70%	-38.14%	5.79%	9.89%	-71.25%	161.09%	-39.73%	58.24%	-90.56%
EPS Growth	67.54%	-36.36%	-17.04%	-37.34%	6.91%	10.40%	-67.96%	142.11%	-44.53%	53.52%	-90.83%
Operating Cash Flow Growth	62.86%	261.92%	-38.02%	-7.28%	-96.86%	-6,907.40%	103.50%	1,377.89%	55.04%	-23.63%	-47.55%
Free Cash Flow Firm Growth	-9.10%	56.33%	-86.09%	-151.79%	103.22%	8,391.37%	-87.82%	-274.13%	134.09%	159.47%	-457.78%
Invested Capital Growth	23.21%	3.85%	17.44%	37.83%	8.32%	-77.65%	-11.76%	159.19%	24.21%	18.14%	86.45%
Revenue Q/Q Growth	4.26%	6.04%	3.87%	4.17%	-66.44%	185.60%	4,052.70%	4.57%	36.76%	-20.59%	9.88%
EBITDA Q/Q Growth	11.14%	51.44%	12.53%	6.79%	-14.63%	37.06%	-21.34%	9.40%	66.65%	-31.81%	-40.00%
EBIT Q/Q Growth	-1.52%	-5.05%	37.13%	-24.08%	357.09%	-35.91%	-28.01%	15.96%	83.42%	-36.11%	-51.58%
NOPAT Q/Q Growth	-1.57%	0.59%	32.36%	-23.56%	360.34%	-34.69%	-29.97%	15.99%	-71.69%	-27.21%	-49.43%
Net Income Q/Q Growth	-2.43%	-9.98%	5.28%	-9.00%	-12.93%	20.36%	8.49%	334.51%	-59.02%	-32.97%	-75.64%
EPS Q/Q Growth	-115.94%	-11.57%	4.82%	-9.05%	-12.22%	20.61%	8.98%	341.51%	-69.66%	-8.40%	-76.74%
Operating Cash Flow Q/Q Growth	-14.98%	7.60%	3.70%	285.49%	106.90%	-176.15%	102.46%	224.51%	1.10%	-6.30%	-60.88%
Free Cash Flow Firm Q/Q Growth	0.00%	7.33%	0.56%	-33.93%	103.96%	676.77%	1.00%	-117.81%	-68.00%	-29.17%	-403.95%
Invested Capital Q/Q Growth	4.17%	3.04%	4.62%	11.88%	-5.00%	-79.60%	-82.15%	202.68%	0.50%	-4.29%	98.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	68.10%	100.00%	100.00%	69.56%	100.00%	100.00%	100.00%
EBITDA Margin	4.15%	11.20%	16.96%	14.66%	41.09%	43.10%	40.90%	42.05%	39.21%	36.84%	16.38%
Operating Margin	-12.40%	-8.95%	-4.47%	-9.19%	28.40%	31.24%	28.31%	35.93%	35.22%	31.23%	11.53%
EBIT Margin	-12.41%	-9.52%	-4.32%	-9.30%	28.38%	31.23%	28.31%	35.92%	35.19%	31.56%	10.85%
Profit (Net Income) Margin	-20.70%	-21.48%	-20.87%	-24.60%	-55.84%	-47.25%	-92.70%	45.50%	22.78%	36.64%	3.09%
Tax Burden Percent	101.42%	101.16%	101.07%	98.85%	290.31%	166.04%	513.37%	-498.47%	87.08%	149.26%	75.80%
Interest Burden Percent	164.48%	223.16%	477.98%	267.63%	-67.79%	-91.12%	-63.78%	-25.41%	74.34%	77.78%	37.60%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.92%	-49.26%	24.20%
Return on Invested Capital (ROIC)	-10.77%	-8.47%	-4.54%	-8.53%	9.07%	16.69%	38.39%	36.02%	32.68%	40.44%	5.47%
ROIC Less NNEP Spread (ROIC-NNEP)	-62.31%	-40.44%	-31.18%	-20.17%	-7.64%	-12.22%	-7.65%	45.57%	27.28%	32.33%	1.64%
Return on Net Nonoperating Assets (RNNOA)	-25.36%	-73.07%	-960.54%	38.98%	14.79%	27.05%	9.69%	-67.80%	-76.31%	-516.94%	19.52%
Return on Equity (ROE)	-36.13%	-81.54%	-965.08%	30.45%	23.86%	43.74%	48.08%	-31.78%	-43.63%	-476.51%	24.98%
Cash Return on Invested Capital (CROIC)	-31.57%	-12.25%	-20.58%	-40.35%	1.08%	143.62%	50.88%	-52.62%	11.09%	23.80%	-54.89%
Operating Return on Assets (OROA)	-7.01%	-5.41%	-2.29%	-5.83%	7.32%	7.78%	8.09%	18.26%	20.21%	16.28%	4.80%
Return on Assets (ROA)	-11.70%	-12.22%	-11.06%	-15.41%	-14.40%	-11.78%	-26.48%	23.12%	13.08%	18.91%	1.37%
Return on Common Equity (ROCE)	-36.13%	-81.54%	-965.08%	30.45%	23.86%	43.74%	48.08%	-31.78%	-43.63%	-476.51%	24.98%
Return on Equity Simple (ROE_SIMPLE)	-42.75%	-162.57%	308.23%	89.78%	60.29%	36.60%	39.00%	-47.71%	-90.37%	357.71%	19.83%
Net Operating Profit after Tax (NOPAT)	-35	-31	-19	-45	58	68	53	84	124	185	39
NOPAT Margin	-8.68%	-6.27%	-3.13%	-6.43%	19.88%	21.87%	19.82%	25.15%	30.67%	46.61%	8.74%
Net Nonoperating Expense Percent (NNEP)	51.54%	31.97%	26.64%	11.63%	16.70%	28.91%	46.04%	-9.55%	5.40%	8.11%	3.83%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	20.81%	29.16%	4.00%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	31.90%	0.00%	0.00%	30.44%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	17.32%	17.32%	14.24%	13.40%	19.96%	17.68%	20.19%	15.36%	14.40%	14.41%	28.12%
R&D to Revenue	17.02%	17.46%	16.21%	19.07%	6.38%	8.42%	9.35%	7.41%	7.32%	9.23%	10.07%
Operating Expenses to Revenue	112.40%	108.95%	104.47%	109.19%	39.70%	68.76%	71.69%	33.63%	64.78%	68.77%	88.47%
Earnings before Interest and Taxes (EBIT)	-51	-48	-26	-65	82	97	76	121	142	125	48
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	17	56	101	103	119	133	110	141	158	146	73
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.13	23.08	0.00	0.00	0.00	0.00	0.00	0.00	0.00	32.05	14.68
Price to Tangible Book Value (P/TBV)	11.88	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.45	3.05	1.33	1.40	0.90	1.83	3.04	4.43	4.65	3.28	2.29
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	9.74	20.41	8.96	74.03
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.27%	4.90%	11.16%	1.35%
Enterprise Value to Invested Capital (EV/IC)	4.36	4.89	2.89	1.28	1.80	10.11	12.20	6.34	5.71	3.55	2.02
Enterprise Value to Revenue (EV/Rev)	3.88	3.69	2.14	1.12	4.11	4.84	5.90	6.39	5.94	4.43	4.21
Enterprise Value to EBITDA (EV/EBITDA)	93.41	32.92	12.64	7.63	10.00	11.23	14.44	15.20	15.15	12.02	25.72
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	14.48	15.50	20.86	17.80	16.88	14.03	38.85
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	20.66	22.13	29.80	25.42	19.37	9.50	48.21
Enterprise Value to Operating Cash Flow (EV/OCF)	54.64	17.61	19.68	12.99	630.02	0.00	352.89	32.18	23.22	22.30	45.24
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	174.09	2.57	22.48	0.00	57.10	16.14	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.95	10.36	-23.26	0.00	-4.29	-2.76	-1.88	-2.51	-6.85	14.60	13.02
Long-Term Debt to Equity	1.89	10.04	-23.19	0.00	-4.29	-2.76	-1.35	-2.17	-6.78	14.43	12.98
Financial Leverage	0.41	1.81	30.80	-1.93	-1.94	-2.21	-1.27	-1.49	-2.80	-15.99	11.92
Leverage Ratio	3.09	6.67	87.22	-1.98	-1.66	-3.71	-1.82	-1.37	-3.33	-25.20	18.27
Compound Leverage Factor	5.08	14.89	416.92	-5.29	1.12	3.38	1.16	0.35	-2.48	-19.60	6.87
Debt to Total Capital	66.05%	91.19%	104.49%	0.00%	130.36%	156.79%	213.30%	166.12%	117.10%	93.59%	92.86%
Short-Term Debt to Total Capital	1.78%	2.83%	0.31%	0.00%	0.00%	0.00%	60.26%	22.64%	1.22%	1.14%	0.26%
Long-Term Debt to Total Capital	64.28%	88.36%	104.18%	0.00%	130.36%	156.79%	153.04%	143.48%	115.89%	92.45%	92.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	33.95%	8.81%	-4.49%	100.00%	-30.36%	-56.79%	-113.30%	-66.12%	-17.10%	6.41%	7.14%
Debt to EBITDA	22.71	12.22	9.29	0.00	9.68	8.27	10.94	5.70	4.40	4.06	12.38
Net Debt to EBITDA	10.24	5.68	4.78	0.00	7.80	6.99	6.99	4.66	3.29	3.11	11.75
Long-Term Debt to EBITDA	22.09	11.84	9.26	0.00	9.68	8.27	7.85	4.92	4.36	4.01	12.35
Debt to NOPAT	-10.85	-21.84	-50.38	0.00	20.00	16.30	22.58	9.53	5.63	3.21	23.22
Net Debt to NOPAT	-4.89	-10.15	-25.94	0.00	16.13	13.78	14.44	7.80	4.21	2.46	22.03
Long-Term Debt to NOPAT	-10.56	-21.16	-50.23	0.00	20.00	16.30	16.20	8.23	5.57	3.17	23.15
Altman Z-Score	0.79	0.54	0.09	2.51	-0.54	-0.69	-2.11	-0.97	0.33	0.29	-0.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.95	2.37	2.41	6.04	1.95	1.68	1.17	1.33	3.84	4.37	1.78
Quick Ratio	1.71	2.21	2.11	4.52	1.19	0.84	1.08	0.97	2.72	2.60	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-104	-45	-84	-213	6.85	581	71	-123	42	109	-390
Operating Cash Flow to CapEx	21.94%	77.56%	43.82%	23.88%	69.33%	-8,644.03%	248.24%	2,043.41%	235.47%	485.46%	306.73%
Free Cash Flow to Firm to Interest Expense	-3.17	-0.77	-0.85	-1.90	0.05	3.09	0.56	-0.81	1.08	3.09	-10.16
Operating Cash Flow to Interest Expense	0.89	1.78	0.66	0.54	0.01	-0.68	0.04	0.44	2.66	2.24	1.08
Operating Cash Flow Less CapEx to Interest Expense	-3.15	-0.52	-0.84	-1.72	-0.01	-0.69	0.02	0.42	1.53	1.78	0.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.57	0.57	0.53	0.63	0.26	0.25	0.29	0.51	0.57	0.52	0.44
Accounts Receivable Turnover	11.01	8.50	8.34	0.00	0.00	3.50	6.57	8.66	8.79	7.76	5.57
Inventory Turnover	0.00	0.00	0.00	0.00	0.78	0.00	0.00	3.29	0.00	0.00	0.00
Fixed Asset Turnover	1.30	1.26	1.25	1.19	0.50	1.06	4.07	5.28	4.80	3.92	4.09
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.24	0.00	0.00	0.00
Days Sales Outstanding (DSO)	33.15	42.93	43.77	0.00	0.00	104.33	55.59	42.16	41.53	47.02	65.56
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	470.45	0.00	0.00	110.88	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	50.39	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	33.15	42.93	43.77	0.00	470.45	104.33	55.59	102.66	41.53	47.02	65.56
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	363	377	443	611	662	148	131	338	420	496	926
Invested Capital Turnover	1.24	1.35	1.45	1.33	0.46	0.76	1.94	1.43	1.07	0.87	0.63
Increase / (Decrease) in Invested Capital	68	14	66	168	51	-514	-17	208	82	76	429
Enterprise Value (EV)	1,583	1,847	1,279	782	1,192	1,495	1,593	2,146	2,401	1,761	1,874
Market Capitalization	1,409	1,528	795	979	262	564	821	1,488	1,879	1,305	1,018
Book Value per Share	$2.32	$0.77	($0.47)	($12.55)	($3.07)	($4.52)	($7.52)	($3.10)	($0.80)	$0.32	$0.55
Tangible Book Value per Share	$1.39	($0.15)	($1.46)	($12.55)	($4.03)	($5.11)	($8.14)	($3.58)	($1.19)	($0.12)	($3.11)
Total Capital	583	752	899	-1,089	885	702	566	484	596	635	972
Total Debt	385	686	939	0.00	1,154	1,101	1,207	804	697	595	902
Total Long-Term Debt	374	664	937	0.00	1,154	1,101	866	695	690	588	900
Net Debt	174	319	484	-196	931	931	772	658	522	456	856
Capital Expenditures (CapEx)	132	135	148	252	2.73	1.49	1.82	3.26	44	16	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-57	-75	-99	22	62	2.17	-20	25	72	111	102
Debt-free Net Working Capital (DFNWC)	154	292	356	219	286	172	415	171	247	250	144
Net Working Capital (NWC)	143	270	354	219	286	172	74	61	240	243	141
Net Nonoperating Expense (NNE)	49	76	106	127	220	214	303	-68	32	40	25
Net Nonoperating Obligations (NNO)	166	311	484	1,700	931	547	772	658	522	456	856
Total Depreciation and Amortization (D&A)	68	104	127	168	37	37	34	21	16	21	25
Debt-free, Cash-free Net Working Capital to Revenue	-14.07%	-15.00%	-16.65%	3.20%	21.49%	0.70%	-7.51%	7.48%	17.74%	27.87%	22.89%
Debt-free Net Working Capital to Revenue	37.64%	58.24%	59.75%	31.29%	98.51%	55.73%	153.90%	50.94%	61.14%	62.84%	32.28%
Net Working Capital to Revenue	35.11%	53.99%	59.29%	31.29%	98.51%	55.73%	27.47%	18.29%	59.34%	61.02%	31.72%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.99)	($1.35)	($1.58)	($2.17)	($2.02)	($1.81)	($3.04)	$1.46	$0.75	$1.12	$0.11
Adjusted Weighted Average Basic Shares Outstanding	85.31M	85.91M	86.30M	86.84M	87.56M	83.32M	86.40M	103.40M	123.27M	129.75M	128.53M
Adjusted Diluted Earnings per Share	($0.99)	($1.35)	($1.58)	($2.17)	($2.02)	($1.81)	($3.04)	$1.28	$0.71	$1.09	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	85.31M	85.91M	86.30M	86.84M	87.56M	83.32M	86.40M	127.21M	133.92M	133.28M	131.46M
Adjusted Basic & Diluted Earnings per Share	($0.99)	($1.35)	($1.58)	($2.17)	($2.02)	($1.81)	($3.04)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	85.15M	79.70M	78.92M	79.41M	80.04M	80.77M	82.27M	110.88M	127.91M	128.07M	131.35M
Normalized Net Operating Profit after Tax (NOPAT)	-35	-31	-19	-45	58	68	53	84	124	87	39
Normalized NOPAT Margin	-8.68%	-6.27%	-3.13%	-6.43%	19.88%	21.87%	19.82%	25.15%	30.67%	21.86%	8.74%
Pre Tax Income Margin	-20.41%	-21.24%	-20.65%	-24.89%	-19.24%	-28.46%	-18.06%	-9.13%	26.16%	24.55%	4.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.55	-0.81	-0.26	-0.58	0.58	0.51	0.61	0.80	3.66	3.56	1.26
NOPAT to Interest Expense	-1.08	-0.53	-0.19	-0.40	0.41	0.36	0.42	0.56	3.19	5.25	1.01
EBIT Less CapEx to Interest Expense	-5.58	-3.11	-1.76	-2.84	0.56	0.50	0.59	0.77	2.53	3.10	0.90
NOPAT Less CapEx to Interest Expense	-5.12	-2.83	-1.69	-2.66	0.39	0.35	0.41	0.54	2.06	4.79	0.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.96%	3.31%	241.42%

This table displays calculated financial ratios and metrics derived from Gogo's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.82%	117.67%	0.00%	5.50%	-7.00%	-51.32%	5.81%	-1.13%	2.63%	40.88%
EBITDA Growth	10.57%	171.50%	290.91%	7.51%	0.43%	-68.71%	49.29%	-69.19%	-38.14%	-154.42%
EBIT Growth	17.80%	200.57%	235.85%	5.52%	-6.08%	-73.79%	49.77%	-79.57%	-43.01%	-201.78%
NOPAT Growth	-15.76%	-70.16%	259.94%	275.07%	-3.21%	-79.92%	-2.88%	-84.06%	-33.82%	-189.75%
Net Income Growth	84.10%	-60.62%	156.40%	308.09%	3.65%	-83.20%	49.10%	-99.07%	-49.17%	-295.02%
EPS Growth	-6.25%	-88.59%	-16.67%	294.12%	6.67%	-47.62%	53.33%	-98.51%	-50.00%	-300.00%
Operating Cash Flow Growth	3.53%	3.70%	3.63%	-40.75%	-32.57%	-16.89%	60.19%	59.65%	34.57%	-246.52%
Free Cash Flow Firm Growth	-143.09%	-88.82%	113.71%	124.02%	73.11%	-581.54%	-344.40%	-40.50%	190.54%	-677.24%
Invested Capital Growth	274.10%	24.21%	-5.96%	8.86%	24.05%	18.14%	36.85%	-5.21%	-9.94%	86.45%
Revenue Q/Q Growth	7.65%	90.77%	-50.93%	4.69%	-5.11%	-0.14%	6.66%	-2.17%	-1.50%	37.07%
EBITDA Q/Q Growth	8.28%	152.70%	-64.63%	11.08%	1.16%	-21.27%	68.76%	-77.08%	103.16%	-169.25%
EBIT Q/Q Growth	12.23%	167.95%	-67.16%	6.85%	-0.11%	-25.22%	87.65%	-85.42%	178.62%	-233.54%
NOPAT Q/Q Growth	-16.91%	260.24%	-71.98%	347.18%	-78.56%	-25.26%	35.52%	-26.62%	-10.95%	-201.36%
Net Income Q/Q Growth	-8.36%	326.87%	-76.26%	339.38%	-76.72%	-30.82%	110.76%	-97.25%	1,166.98%	-365.41%
EPS Q/Q Growth	-11.76%	40.00%	-28.57%	346.67%	-76.12%	-31.25%	109.09%	-95.65%	700.00%	-375.00%
Operating Cash Flow Q/Q Growth	5.02%	13.60%	-41.16%	-15.59%	19.52%	40.02%	13.40%	-15.87%	0.74%	-252.46%
Free Cash Flow Firm Q/Q Growth	11.53%	104.25%	343.86%	43.84%	-199.05%	23.85%	-125.28%	135.02%	50.71%	-753.74%
Invested Capital Q/Q Growth	-10.63%	0.50%	-0.02%	21.24%	1.85%	-4.29%	15.81%	-16.03%	-3.23%	98.14%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	116.24%	100.00%	100.00%	100.00%	100.00%	67.74%	100.00%	100.00%	124.42%
EBITDA Margin	37.78%	50.04%	36.07%	38.27%	40.80%	32.16%	50.89%	11.92%	24.59%	-12.42%
Operating Margin	34.51%	48.34%	32.38%	32.98%	34.01%	25.43%	33.24%	21.24%	18.97%	-17.53%
EBIT Margin	34.42%	48.34%	32.35%	33.02%	34.76%	26.03%	45.79%	6.82%	19.30%	-18.80%
Profit (Net Income) Margin	19.16%	42.87%	20.74%	87.05%	21.35%	14.79%	29.23%	0.82%	10.57%	-20.47%
Tax Burden Percent	71.66%	96.59%	82.33%	345.28%	75.66%	75.73%	73.63%	86.41%	87.48%	77.51%
Interest Burden Percent	77.68%	91.80%	77.87%	76.35%	81.19%	75.04%	86.68%	13.94%	62.63%	140.48%
Effective Tax Rate	28.34%	3.41%	17.67%	-245.28%	24.34%	24.27%	26.37%	13.59%	12.52%	0.00%
Return on Invested Capital (ROIC)	27.57%	49.75%	30.92%	118.42%	27.51%	16.71%	19.84%	14.88%	13.62%	-7.67%
ROIC Less NNEP Spread (ROIC-NNEP)	26.61%	48.45%	29.98%	113.44%	26.67%	15.81%	20.81%	11.04%	12.28%	-9.40%
Return on Net Nonoperating Assets (RNNOA)	-47.09%	-135.52%	-100.36%	-926.08%	-290.43%	-252.89%	-826.38%	167.80%	128.05%	-112.04%
Return on Equity (ROE)	-19.52%	-85.77%	-69.44%	-807.66%	-262.92%	-236.18%	-806.54%	182.68%	141.68%	-119.71%
Cash Return on Invested Capital (CROIC)	49.59%	11.09%	47.31%	44.09%	32.88%	23.80%	3.67%	22.63%	26.05%	-54.89%
Operating Return on Assets (OROA)	17.35%	27.76%	22.52%	22.84%	23.27%	13.43%	23.55%	3.54%	9.90%	-8.32%
Return on Assets (ROA)	9.66%	24.62%	14.43%	60.21%	14.29%	7.63%	15.03%	0.43%	5.42%	-9.06%
Return on Common Equity (ROCE)	-19.52%	-85.77%	-69.44%	-807.66%	-262.92%	-236.18%	-806.54%	182.68%	141.68%	-119.71%
Return on Equity Simple (ROE_SIMPLE)	-175.11%	0.00%	-168.78%	2,351.27%	647.95%	0.00%	249.39%	128.26%	107.02%	0.00%
Net Operating Profit after Tax (NOPAT)	26	94	26	118	25	19	26	19	17	-17
NOPAT Margin	24.73%	46.69%	26.66%	113.88%	25.73%	19.26%	24.47%	18.36%	16.59%	-12.27%
Net Nonoperating Expense Percent (NNEP)	0.96%	1.30%	0.94%	4.98%	0.83%	0.89%	-0.97%	3.84%	1.35%	1.72%
Return On Investment Capital (ROIC_SIMPLE)	-	15.75%	-	-	-	2.96%	-	-	-	-1.74%
Cost of Revenue to Revenue	0.00%	-16.24%	0.00%	0.00%	0.00%	0.00%	32.26%	0.00%	0.00%	-24.42%
SG&A Expenses to Revenue	14.69%	6.93%	14.40%	12.79%	13.62%	16.92%	14.04%	21.41%	24.79%	46.19%
R&D to Revenue	7.58%	0.00%	7.99%	8.94%	9.35%	10.66%	8.83%	10.10%	9.71%	11.24%
Operating Expenses to Revenue	65.49%	67.89%	67.62%	67.02%	65.99%	74.57%	34.50%	78.76%	81.03%	141.95%
Earnings before Interest and Taxes (EBIT)	36	97	32	34	34	25	48	6.96	19	-26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	40	101	36	40	40	31	53	12	25	-17
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	237.43	45.77	32.05	18.01	23.51	17.29	14.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	246.10	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.28	4.65	3.69	4.31	3.07	3.28	2.79	3.04	2.25	2.29
Price to Earnings (P/E)	6.94	20.41	12.47	10.10	7.06	8.96	7.22	18.33	16.15	74.03
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	14.40%	4.90%	8.02%	9.90%	14.16%	11.16%	13.85%	5.46%	6.19%	1.35%
Enterprise Value to Invested Capital (EV/IC)	5.04	5.71	5.62	5.28	3.90	3.55	2.85	3.43	2.84	2.02
Enterprise Value to Revenue (EV/Rev)	7.13	5.94	4.70	5.29	4.04	4.43	4.06	4.11	3.28	4.21
Enterprise Value to EBITDA (EV/EBITDA)	22.15	15.15	11.10	12.47	9.41	12.02	9.98	12.10	10.92	25.72
Enterprise Value to EBIT (EV/EBIT)	27.17	16.88	11.95	13.47	10.29	14.03	11.58	14.47	13.31	38.85
Enterprise Value to NOPAT (EV/NOPAT)	4.81	19.37	13.24	10.46	7.94	9.50	9.46	19.29	17.25	48.21
Enterprise Value to Operating Cash Flow (EV/OCF)	20.59	23.22	22.71	28.80	23.97	22.30	18.17	16.63	12.52	45.24
Enterprise Value to Free Cash Flow (EV/FCFF)	16.03	57.10	11.52	12.48	13.12	16.14	89.63	14.73	10.33	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-5.45	-6.85	-7.90	64.84	17.77	14.60	10.66	11.39	11.21	13.02
Long-Term Debt to Equity	-5.39	-6.78	-7.82	64.05	17.55	14.43	10.54	11.25	11.07	12.98
Financial Leverage	-1.77	-2.80	-3.35	-8.16	-10.89	-15.99	-39.71	15.20	10.43	11.92
Leverage Ratio	-1.70	-3.33	-3.91	-10.77	-15.79	-25.20	-61.01	25.29	18.29	18.27
Compound Leverage Factor	-1.32	-3.06	-3.05	-8.22	-12.82	-18.91	-52.88	3.53	11.46	25.67
Debt to Total Capital	122.49%	117.10%	114.49%	98.48%	94.67%	93.59%	91.42%	91.93%	91.81%	92.86%
Short-Term Debt to Total Capital	1.27%	1.22%	1.19%	1.20%	1.15%	1.14%	1.00%	1.13%	1.13%	0.26%
Long-Term Debt to Total Capital	121.22%	115.89%	113.30%	97.29%	93.52%	92.45%	90.42%	90.80%	90.68%	92.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-22.49%	-17.10%	-14.49%	1.52%	5.33%	6.41%	8.58%	8.07%	8.19%	7.14%
Debt to EBITDA	7.35	4.40	3.27	2.77	2.77	4.06	4.06	4.33	4.87	12.38
Net Debt to EBITDA	5.75	3.29	2.39	2.32	2.26	3.11	3.12	3.15	3.41	11.75
Long-Term Debt to EBITDA	7.27	4.36	3.24	2.74	2.74	4.01	4.01	4.28	4.81	12.35
Debt to NOPAT	1.60	5.63	3.90	2.33	2.34	3.21	3.84	6.91	7.69	23.22
Net Debt to NOPAT	1.25	4.21	2.85	1.95	1.91	2.46	2.96	5.02	5.39	22.03
Long-Term Debt to NOPAT	1.58	5.57	3.86	2.30	2.31	3.17	3.80	6.82	7.60	23.15
Altman Z-Score	-0.65	0.14	0.06	0.58	0.16	-0.13	-0.07	-0.17	-0.35	-0.41
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.73	3.84	4.57	4.11	4.59	4.37	4.20	3.95	3.58	1.78
Quick Ratio	2.58	2.72	3.20	2.37	2.56	2.60	2.53	2.46	2.29	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-280	12	53	76	-75	-57	-129	45	68	-446
Operating Cash Flow to CapEx	156.44%	360.56%	594.92%	214.24%	518.81%	1,156.66%	2,043.90%	736.83%	569.03%	-901.62%
Free Cash Flow to Firm to Interest Expense	-31.92	1.26	5.89	7.59	-9.39	-6.96	-15.37	5.58	7.06	-36.45
Operating Cash Flow to Interest Expense	3.15	3.34	2.06	1.56	2.33	3.17	3.53	3.08	2.60	-3.13
Operating Cash Flow Less CapEx to Interest Expense	1.14	2.41	1.72	0.83	1.88	2.90	3.35	2.66	2.14	-3.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.50	0.57	0.70	0.69	0.67	0.52	0.51	0.52	0.51	0.44
Accounts Receivable Turnover	6.60	8.79	11.32	10.68	10.16	7.76	8.39	7.72	8.50	5.57
Inventory Turnover	3.52	0.00	0.00	0.00	0.00	0.00	2.69	2.58	2.42	0.00
Fixed Asset Turnover	3.76	4.80	5.70	5.40	5.02	3.92	4.02	4.05	4.16	4.09
Accounts Payable Turnover	8.33	0.00	0.00	0.00	0.00	0.00	8.93	7.82	7.98	0.00
Days Sales Outstanding (DSO)	55.34	41.53	32.24	34.18	35.94	47.02	43.49	47.31	42.94	65.56
Days Inventory Outstanding (DIO)	103.64	0.00	0.00	0.00	0.00	0.00	135.60	141.64	150.77	0.00
Days Payable Outstanding (DPO)	43.84	0.00	0.00	0.00	0.00	0.00	40.87	46.68	45.76	0.00
Cash Conversion Cycle (CCC)	115.14	41.53	32.24	34.18	35.94	47.02	138.22	142.27	147.95	65.56
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	418	420	420	509	519	496	575	483	467	926
Invested Capital Turnover	1.12	1.07	1.16	1.04	1.07	0.87	0.81	0.81	0.82	0.63
Increase / (Decrease) in Invested Capital	306	82	-27	41	101	76	155	-27	-52	429
Enterprise Value (EV)	2,106	2,401	2,363	2,687	2,021	1,761	1,637	1,654	1,326	1,874
Market Capitalization	1,560	1,879	1,855	2,187	1,535	1,305	1,124	1,223	912	1,018
Book Value per Share	($1.00)	($0.80)	($0.69)	$0.07	$0.26	$0.32	$0.49	$0.41	$0.42	$0.55
Tangible Book Value per Share	($1.39)	($1.19)	($1.08)	($0.33)	($0.15)	($0.12)	$0.04	($0.07)	($0.10)	($3.11)
Total Capital	570	596	608	607	630	635	728	644	644	972
Total Debt	699	697	696	597	596	595	665	592	591	902
Total Long-Term Debt	691	690	689	590	589	588	658	585	584	900
Net Debt	546	522	508	500	485	456	512	431	414	856
Capital Expenditures (CapEx)	18	8.73	3.11	7.29	3.60	2.26	1.45	3.39	4.42	4.25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	68	72	81	104	121	111	110	103	81	102
Debt-free Net Working Capital (DFNWC)	220	247	269	202	232	250	263	265	258	144
Net Working Capital (NWC)	212	240	262	194	224	243	255	258	250	141
Net Nonoperating Expense (NNE)	5.87	7.69	5.84	28	4.29	4.37	-4.96	18	6.05	11
Net Nonoperating Obligations (NNO)	546	522	508	500	485	456	512	431	414	856
Total Depreciation and Amortization (D&A)	3.54	3.41	3.66	5.42	5.92	6.00	5.32	5.20	5.32	8.79
Debt-free, Cash-free Net Working Capital to Revenue	22.86%	17.74%	16.18%	20.55%	24.12%	27.87%	27.24%	25.68%	20.01%	22.89%
Debt-free Net Working Capital to Revenue	74.36%	61.14%	53.58%	39.68%	46.25%	62.84%	65.13%	65.85%	63.66%	32.28%
Net Working Capital to Revenue	71.91%	59.34%	52.13%	38.25%	44.81%	61.02%	63.34%	64.05%	61.87%	31.72%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.16	$0.21	$0.16	$0.69	$0.16	$0.11	$0.24	$0.01	$0.08	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	129.91M	123.27M	129.14K	129.81M	129.95M	129.75M	129.27M	128.30M	127.92M	128.53M
Adjusted Diluted Earnings per Share	$0.15	$0.21	$0.15	$0.67	$0.16	$0.11	$0.23	$0.01	$0.08	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	134.22M	133.92M	133.60K	133.23M	133.32M	133.28M	132.44M	131.73M	130.39M	131.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	127.27M	127.91M	128.59M	128.70M	128.84M	128.07M	127.10M	126.95M	125.78M	131.35M
Normalized Net Operating Profit after Tax (NOPAT)	26	94	26	24	25	19	26	19	17	-17
Normalized NOPAT Margin	24.73%	46.69%	26.66%	23.09%	25.73%	19.26%	24.47%	18.36%	16.59%	-12.27%
Pre Tax Income Margin	26.73%	44.38%	25.19%	25.21%	28.22%	19.53%	39.70%	0.95%	12.09%	-26.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.13	10.30	3.55	3.40	4.24	3.09	5.68	0.86	2.01	-2.12
NOPAT to Interest Expense	2.97	9.95	2.93	11.72	3.14	2.28	3.04	2.31	1.73	-1.38
EBIT Less CapEx to Interest Expense	2.11	9.37	3.21	2.67	3.79	2.81	5.51	0.44	1.55	-2.46
NOPAT Less CapEx to Interest Expense	0.95	9.02	2.58	10.99	2.69	2.01	2.86	1.89	1.27	-1.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	8.18%	19.96%	0.00%	0.00%	0.00%	3.31%	9.61%	41.94%	63.06%	241.42%

Frequently Asked Questions About Gogo's Financials

When does Gogo's financial year end?

According to the most recent income statement we have on file, Gogo's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Gogo's net income changed over the last 10 years?

Gogo's net income appears to be on a downward trend, with a most recent value of $13.75 million in 2024, falling from -$84.54 million in 2014. The previous period was $145.68 million in 2023. See where experts think Gogo is headed by visiting Gogo's forecast page.

What is Gogo's operating income?

Gogo's total operating income in 2024 was $51.27 million, based on the following breakdown:

Total Gross Profit: $444.71 million
Total Operating Expenses: $393.44 million

How has Gogo revenue changed over the last 10 years?

Over the last 10 years, Gogo's total revenue changed from $408.49 million in 2014 to $444.71 million in 2024, a change of 8.9%.

How much debt does Gogo have?

Gogo's total liabilities were at $1.16 billion at the end of 2024, a 56.6% increase from 2023, and a 107.7% increase since 2014.

How much cash does Gogo have?

In the past 10 years, Gogo's cash and equivalents has ranged from $41.77 million in 2024 to $435.35 million in 2020, and is currently $41.77 million as of their latest financial filing in 2024.

How has Gogo's book value per share changed over the last 10 years?

Over the last 10 years, Gogo's book value per share changed from 2.32 in 2014 to 0.55 in 2024, a change of -76.2%.

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This page (NASDAQ:GOGO) was last updated on 5/5/2025 by MarketBeat.com Staff

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Gogo (GOGO) Financials

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