Gogo Inc. (Nasdaq: GOGO) said it has reported record second quarter revenue of USD121.2 million, up 22 percent year-over-year.
Service revenue increased 28 percent to USD101.4 million, exceeding USD100 million in a single quarter for the first time. Adjusted EBITDA increased USD7.7 million to a record USD10.8 million.
Consolidated financial results included:
— Revenue increased to USD121.2 million, up 22 percent from USD99.5 million in Q2 2014. Service revenue increased 28 percent to a record USD101.4 million.
— Combined segment profit of CA-NA and BA increased 31 percent year-over-year to USD28.8 million for Q2 2015.
— Adjusted EBITDA for Q2 2015 was USD10.8 million, up from USD3.1 million for Q2 2014.
— Cash CAPEX decreased to USD22.8 million from USD26.9 million in Q2 2014, primarily due to an increase in airborne equipment proceeds received from our airline partners.
Gogo is a leading global aero-communications service provider that offers in-flight Internet, entertainment, text messaging, voice and a host of other communications-related services to the commercial and business aviation markets. It has nearly 2,400 commercial aircraft equipped with its services on eight major airlines.