Gogo reports USD147m in Q3 2016 revenue

Gogo Inc. (NASDAQ: GOGO) has reported revenue for the quarter ended September 30, 2016 increased to USD147.3 million, up 17 percent from the third quarter, 2015, the company said.

The company said service revenue increased to USD129.1 million, up 20 percent from the third quarter 2015, driven by a 17 percent increase in commercial aircraft online to 2,885, a 20 percent increase in ATG business aircraft online to 3,974, and increased customer usage across all segments.

Net loss increased to USD33.3 million, up 15 percent from the third quarter 2015, and adjusted EBITDA increased to a record USD15.2 million, up 57 percent from Q3 2015.

Total revenue in North America increased to USD90.7 million, up 15 percent from the third quarter 2015, primarily driven by an increase in aircraft online. Aircraft online increased to 2,629, up 33 aircraft from June 30, 2016, and included more than 1,500 ATG-4 equipped aircraft. This segment had approximately 170 net new awarded but not yet installed aircraft, including approximately 80 2Ku net new aircraft as of September 30, 2016. In addition, approximately 800 aircraft have been awarded for conversion to 2Ku as of September 30, 2016.

Gogo Business Aviation partnered with Garmin, JetFuelX and FltPlan.com to bring a variety of new cockpit and operational applications to pilots of light jets and turboprops through Gogo´s ATG 1000 system.Gogo provides broadband connectivity solutions and wireless entertainment to the aviation industry. Gogo has partnerships with 17 commercial airlines and is now installed on more than 2,800 commercial aircraft.