GOGO earnings analysis
What we found in GOGO's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Gogo reported Q1 2026 revenues of $226.3 million, slightly down 1.7% from Q1 2025, while EPS of $0.10 surpassed expectations by 25%. The segment performance showed a strong 21.7% growth in equipment revenue, although service revenues declined by 5.5%. Management anticipates revenue growth from new product offerings, with an optimistic outlook for equipment sales.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Surpassed Expectations
- Reported EPS of $0.10 beat estimates by 25%.
- Equipment Revenue Surge
- Equipment revenue rose 21.7% year-over-year to $38.6 million.
- Operating Income Stable
- Operating income slightly decreased to $31.7 million from $35.2 million year-over-year.
- Cash Balance Improvement
- Cash and cash equivalents at period end improved to $104.0 million, up from $70.8 million year-over-year.
- Debt Reduction Actions
- Gogo prepaid $100 million of its outstanding term debt in May 2023.
- Forward-Looking Revenue Guidance
- Management reaffirmed FY 2026 revenue guidance of $905 million to $945 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Service Revenue
- Service revenue fell 5.5% to $187.7 million due to a decrease in ATG units.
- Negative Operating Cash Flow
- Operating cash flow was negative at ($7.2 million), compared to $32.5 million in the prior year.
- Weak Internal Controls
- A material weakness in internal controls remains unremediated, potentially impacting financial reporting.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.1
- Operating margin
- 14.0%
- Segment
- Service Revenue: $187.7M
- Segment
- Equipment Revenue: $38.6M
What they said about what is next.
Management reaffirmed revenue guidance for FY 2026 of $905M to $945M.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 27, 2026
- Gogo’s 2025 10-K emphasizes a strategy to be a multi-orbit, multi-band satellite integrator driven by the commercial launch of Gogo Galileo (Q1 2025), the addition of Gogo 5G (launched Q4 2025) and the Dec 3, 2024…
- 10-Q · November 6, 2025
- Gogo Inc. reported Q3 2025 results with a total revenue of $223.6 million, which was an increase from $101 million in Q3 2024 but a slight decrease from Q2 2025's $226 million. However, the company faced a net loss of…
- 10-Q · May 9, 2025
- Gogo reported Q1 revenue of $230.3M, driven by the Dec 3, 2024 Satcom Direct acquisition; service revenue totaled $198.6M and equipment $31.7M. Operating income was $35.2M (15.3% margin) but net income fell to $12.0M…
- 10-Q · August 7, 2024
- Gogo reported total revenue of $102.06M for Q2 2024, roughly flat versus $103.22M a year ago, with service revenue up to $81.93M and equipment revenue down to $20.13M. Operating income declined to $21.68M (21.2% margin)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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