Gogo Inc.

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

GOGO$3.60-0.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statem ents of Cash Flows

	For the Years Ended December 31,
	2025	2024	2023
Operating activities:
Net income	$12,923	$13,746	$145,678
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	60,279	18,972	16,701
Loss on asset disposals, abandonments and write-downs	504	2,932	362
Provision for expected credit losses	1,504	3,803	1,233
Deferred income taxes	9,957	3,245	(49,172)
Stock-based compensation expense	24,072	20,777	21,288
Amortization of deferred financing costs and interest rate caps	5,518	5,147	3,894
Accretion of debt discount	1,752	510	403
Change in fair value of earnout liability	11,800	—	—
Change in fair value of convertible note and gain on sale of equity investment	3,552	793	(1,343)
Loss on extinguishment of debt	—	—	2,224
Changes in operating assets and liabilities:
Accounts receivable	(4,954)	2,971	4,833
Inventories	(1,081)	(16,224)	(13,694)
Prepaid expenses and other current assets	(9,404)	(13,417)	(49,891)
Contract assets	(14,230)	(7,138)	3,217
Accounts payable	10,551	(11,295)	3,658
Accrued liabilities	21,870	11,153	4,351
Deferred revenue	(5,440)	3,621	(2,411)
Accrued interest	(2,052)	1,715	(9,409)
Other non-current assets and liabilities	(2,631)	110	(2,952)
Net cash provided by operating activities	124,490	41,421	78,970
Investing activities:
Purchases of property and equipment	(59,377)	(13,504)	(16,267)
Acquisition of intangible assets	(15,784)	(13,551)	(7,821)
Acquisition of Satcom Direct, net of cash acquired	(1,612)	(332,724)	—
Proceeds from FCC Reimbursement Program for property, equipment and intangibles	29,282	4,395	1,130
Proceeds from interest rate caps	10,570	23,181	26,675
Redemptions of short-term investments	—	—	74,179
Purchases of short-term investments	—	—	(49,383)
Purchases of convertible note and equity investment	(3,000)	(5,000)	(5,000)
Proceeds from sale of equity investment	—	—	6,343
Net cash (used in) provided by investing activities	(39,921)	(337,203)	29,856
Financing activities:
Proceeds from term loan, net of discount	—	245,000	—
Payment of debt issuance costs	—	(4,020)	—
Repurchases of common stock	—	(33,185)	(4,822)
Payments on term loan	(2,500)	(6,063)	(107,250)
Payments on finance leases	(41)	(31)	(132)
Stock-based compensation activity	1,190	(3,010)	(8,230)
Net cash provided by (used in) financing activities	(1,351)	198,691	(120,434)
Effect of foreign exchange rate changes on cash	168	29	94
Increase (decrease) in cash, cash equivalents and restricted cash	83,386	(97,062)	(11,514)
Cash, cash equivalents and restricted cash at beginning of period	42,304	139,366	150,880
Cash, cash equivalents and restricted cash at end of period	$125,690	$42,304	$139,366
Cash, cash equivalents and restricted cash at end of period	$125,690	$42,304	$139,366
Less: current restricted cash	88	70	—
Less: non-current restricted cash	396	469	330
Cash and cash equivalents at end of period	$125,206	$41,765	$139,036
Supplemental cash flow information:
Cash paid for interest	$77,806	$56,150	$68,145
Cash paid for taxes, net	$3,400	$3,098	$1,004
Non-cash investing activities:
Fair value of shares issued in acquisition of Satcom Direct	$—	$40,500	$—
Purchases of property and equipment in current liabilities	$16,486	$5,139	$4,801

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.