Gogo Inc
For the period ended Sep 30, 2024. Filed Nov 5, 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.
Sep 30, 2024 · Filed Nov 5, 2024
GOGO$3.60-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
| For the Nine MonthsEnded September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $41,959 | $131,211 |
| Adjustments to reconcile net income to cash provided by operating activities: | ||
| Depreciation and amortization | 11,743 | 12,022 |
| Loss on asset disposals, abandonments and write-downs | 101 | 285 |
| Provision for expected credit losses | 1,310 | 541 |
| Deferred income taxes | 10,740 | (53,255) |
| Stock-based compensation expense | 14,755 | 15,729 |
| Amortization of deferred financing costs and interest rate caps | 3,785 | 2,671 |
| Accretion of debt discount | 309 | 304 |
| Loss on extinguishment of debt | — | 2,224 |
| Change in fair value of convertible note and equity investment | 1,239 | (773) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 1,177 | 4,356 |
| Inventories | (11,661) | (13,299) |
| Prepaid expenses and other current assets | (13,605) | (37,454) |
| Contract assets | (4,313) | 2,822 |
| Accounts payable | 9,750 | 2,526 |
| Accrued liabilities | 12,956 | (5,091) |
| Deferred revenue | 844 | (1,708) |
| Accrued interest | (316) | (9,565) |
| Other non-current assets and liabilities | (1,033) | (728) |
| Net cash provided by operating activities | 79,740 | 52,818 |
| Investing activities: | ||
| Purchases of property and equipment | (9,254) | (14,006) |
| Acquisition of intangible assets—capitalized software | (9,640) | (4,711) |
| Proceeds from FCC Reimbursement Program for property, equipment and intangibles | 1,215 | 3 |
| Proceeds from interest rate caps | 19,454 | 20,165 |
| Redemptions of short-term investments | — | 49,524 |
| Purchases of short-term investments | — | (49,383) |
| Purchases of convertible note and equity investments | (5,000) | (5,000) |
| Net cash used in investing activities | (3,225) | (3,408) |
| Financing activities: | ||
| Payments on term loan | (5,438) | (105,438) |
| Repurchases of common stock | (30,763) | — |
| Payments on financing leases | (8) | (117) |
| Stock-based compensation activity | (2,693) | (8,326) |
| Net cash used in financing activities | (38,902) | (113,881) |
| Effect of exchange rate changes on cash | 29 | 78 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 37,642 | (64,393) |
| Cash, cash equivalents and restricted cash at beginning of period | 139,366 | 150,880 |
| Cash, cash equivalents and restricted cash at end of period | $177,008 | $86,487 |
| Cash, cash equivalents and restricted cash at end of period | $177,008 | $86,487 |
| Less: non-current restricted cash | 330 | 330 |
| Cash and cash equivalents at end of period | $176,678 | $86,157 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $42,893 | $53,911 |
| Cash paid for taxes | 2,264 | 429 |
| Non-cash investing activities: | ||
| Purchases of property and equipment in current liabilities | $5,658 | $5,425 |
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