In-flight entertainment and connectivity specialist Gogo has reported its 9-month financial results revealing that losses are down, with a net loss of $22.9 million (€20.7m), improved from a net loss of $37.7 million in Q3 2018.
Gogo surpassed 1,500 total commercial aircraft installed and activated with satellite in-flight connectivity (IFC), and helped by Delta Air Lines being awarded Best Wi-Fi in the Passenger Choice Awards at the recent Airline Passenger Experience Association (APEX) Expo; Gogo is the exclusive supplier of IFC services to Delta Air Lines.
Gogo said its consolidated revenue totaled $201.2 million, with service and equipment revenue of $158.4 million and $42.8 million, respectively.
Gogo’s 2Ku equipped aircraft with online access reached 1,289 as of September 30, 2019, a sequential increase of 73 aircraft in Q3 2019. Gogo had a 2Ku backlog of approximately 845 aircraft as of September 30, 2019.
“Gogo generated a record $33.8 million in Free Cash Flow in the third quarter driven by strong Adjusted EBITDA growth and continuing working capital improvements,” said Barry Rowan, Gogo’s Executive Vice President and CFO. “As we have previously guided, we expect to improve Free Cash Flow by at least $100 million in 2019 compared to 2018.”