Gogo Inc
For the period ended Jun 30, 2024. Filed Aug 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 7, 2024
GOGO$3.60-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
| For the Three MonthsEnded June 30, | For the Six MonthsEnded June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue: | ||||
| Service revenue | $81,929 | $79,062 | $163,602 | $157,561 |
| Equipment revenue | 20,130 | 24,159 | 42,779 | 44,257 |
| Total revenue | 102,059 | 103,221 | 206,381 | 201,818 |
| Operating expenses: | ||||
| Cost of service revenue (exclusive of amounts shown below) | 18,871 | 16,819 | 36,742 | 33,616 |
| Cost of equipment revenue (exclusive of amounts shown below) | 16,432 | 17,537 | 32,218 | 35,663 |
| Engineering, design and development | 10,304 | 9,226 | 19,520 | 17,105 |
| Sales and marketing | 9,036 | 7,856 | 17,319 | 14,733 |
| General and administrative | 21,848 | 13,199 | 36,499 | 27,398 |
| Depreciation and amortization | 3,887 | 4,539 | 7,728 | 7,330 |
| Total operating expenses | 80,378 | 69,176 | 150,026 | 135,845 |
| Operating income | 21,681 | 34,045 | 56,355 | 65,973 |
| Other expense (income): | ||||
| Interest income | (2,120) | (1,971) | (4,168) | (3,887) |
| Interest expense | 8,113 | 7,806 | 16,523 | 16,782 |
| Loss on extinguishment of debt | — | 2,224 | — | 2,224 |
| Other expense (income), net | 14,717 | (36) | 1,618 | (5) |
| Total other expense | 20,710 | 8,023 | 13,973 | 15,114 |
| Income before income taxes | 971 | 26,022 | 42,382 | 50,859 |
| Income tax provision (benefit) | 132 | (63,827) | 11,053 | (59,439) |
| Net income | $839 | $89,849 | $31,329 | $110,298 |
| Net income attributable to common stock per share: | ||||
| Basic | $0.01 | $0.69 | $0.24 | $0.85 |
| Diluted | $0.01 | $0.67 | $0.24 | $0.83 |
| Weighted average number of shares: | ||||
| Basic | 128,295 | 129,814 | 128,792 | 129,467 |
| Diluted | 131,731 | 133,228 | 132,094 | 133,407 |
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