Gogo releases Q2 2017 financial results

Gogo (NASDAQ: GOGO), the global provider of broadband connectivity products and services for aviation, has announced its financial results for the quarter ended June 30, 2017, the company said.

Revenue increased to USD 172.8 million, up 17% from Q2 2016. Service revenue increased to USD 154.1 million, up 21% from Q2 2016, on a 9% increase in commercial aircraft online to 3,109, a 17% increase in ATG business aircraft online to 4,453, and increased customer usage across all segments.

Net loss increased to USD 44.2 million, a 10% increase from Q2 2016, and Adjusted EBITDA(1) decreased to USD 9.9 million, down 31% from Q2 2016. Both net loss and Adjusted EBITDA in Q2 2017 included USD 14.0 million in increased costs related to the launch of 2Ku service for new and existing airline partners, OEM 2Ku programs, and costs associated with the development of Gogo´s next generation ATG solution.

Capital expenditures increased to USD 74.1 million from USD 47.6 million in Q2 2016. Cash CapEx(1) increased to USD 65.6 million from USD 39.8 million in Q2 2016 due to an increase in success-based airborne equipment purchases in advance of heavy 2Ku installations in the second half of 2017.

Gogo is an in-flight Internet company.