Inflight internet company Gogo (NASDAQ: GOGO) has reported a net loss of USD (84.8) million, during the first quarter 2020, the company said.
The net loss increased from a net loss of USD 16.8 million in Q1 2019, due primarily to a USD 46.4 million charge related to impairment of long-lived assets and USD 6.8 million in additional credit loss reserves.
Adjusted EBITDA decreased to USD 25.7 million, down from USD 38.0 million in Q1 2019, primarily due to lower CA-NA segment profit partially offset by improved BA segment profit.
Total revenue increased to USD 70.9 million, up 1% from Q1 2019, driven by 8% service revenue growth offset by a decline in equipment revenue.
Gogo the a global provider of broadband connectivity products and services for aviation.