$GOGO
Gogo Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023039039 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $97.95M $103.2M
YoY Change -7.0% 5.5%
Cost Of Revenue $30.40M $34.36M
YoY Change -16.84% 5.32%
Gross Profit $67.50M $68.87M
YoY Change -1.83% 5.6%
Gross Profit Margin 68.91% 66.72%
Selling, General & Admin $20.35M $21.06M
YoY Change -6.28% -1.73%
% of Gross Profit 30.15% 30.57%
Research & Development $9.200M $9.226M
YoY Change 15.0% 15.33%
% of Gross Profit 13.63% 13.4%
Depreciation & Amortization $4.692M $4.539M
YoY Change 72.75% 29.72%
% of Gross Profit 6.95% 6.59%
Operating Expenses $29.55M $34.82M
YoY Change -0.55% 18.33%
Operating Profit $33.32M $34.04M
YoY Change -8.33% 5.27%
Interest Expense $8.025M -$5.835M
YoY Change -8.61% -159.71%
% of Operating Profit 24.09% -17.14%
Other Income/Expense, Net -$5.675M $36.00K
YoY Change -30.67% -100.37%
Pretax Income $27.64M $26.02M
YoY Change -1.83% 14.54%
Income Tax $6.728M -$63.83M
% Of Pretax Income 24.34% -245.28%
Net Earnings $20.91M $89.85M
YoY Change 3.65% 308.09%
Net Earnings / Revenue 21.35% 87.05%
Basic Earnings Per Share $0.16 $0.69
Diluted Earnings Per Share $0.16 $0.67
COMMON SHARES
Basic Shares Outstanding 128.7M 128.6M
Diluted Shares Outstanding 133.3K 133.2K

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $110.8M $97.20M
YoY Change -27.18% -40.73%
Cash & Equivalents $86.16M $97.20M
Short-Term Investments $24.70M $0.00
Other Short-Term Assets $56.70M $12.46M
YoY Change 56.83% -50.71%
Inventory $62.79M $60.25M
Prepaid Expenses
Receivables $49.36M $86.85M
Other Receivables $0.00 $0.00
Total Short-Term Assets $286.8M $256.8M
YoY Change -1.23% -14.41%
LONG-TERM ASSETS
Property, Plant & Equipment $101.0M $176.2M
YoY Change 2.32% 108.28%
Goodwill $600.0K $600.0K
YoY Change 0.0% 0.0%
Intangibles $52.10M $50.50M
YoY Change 5.04% 4.73%
Long-Term Investments $5.800M
YoY Change
Other Assets $37.24M $248.5M
YoY Change -24.78% 492.0%
Total Long-Term Assets $480.5M $488.8M
YoY Change 9.64% 15.39%
TOTAL ASSETS
Total Short-Term Assets $286.8M $256.8M
Total Long-Term Assets $480.5M $488.8M
Total Assets $767.3M $745.5M
YoY Change 5.3% 3.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.33M $17.35M
YoY Change -16.75% -16.05%
Accrued Expenses $38.22M $29.37M
YoY Change -24.58% -52.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.250M $7.287M
YoY Change 0.0% 0.51%
Total Short-Term Liabilities $62.50M $62.41M
YoY Change -19.81% -31.92%
LONG-TERM LIABILITIES
Long-Term Debt $588.7M $590.1M
YoY Change -14.84% -14.79%
Other Long-Term Liabilities $8.031M $83.84M
YoY Change 6.75% 1049.53%
Total Long-Term Liabilities $671.2M $673.9M
YoY Change -13.83% -13.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.50M $62.41M
Total Long-Term Liabilities $671.2M $673.9M
Total Liabilities $733.7M $736.3M
YoY Change -14.37% -15.29%
SHAREHOLDERS EQUITY
Retained Earnings -$1.228B -$1.249B
YoY Change -11.45% -11.24%
Common Stock $1.396B $1.392B
YoY Change 0.9% 0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $158.4M $158.4M
YoY Change 0.0% 13.13%
Treasury Stock Shares
Shareholders Equity $33.54M $9.212M
YoY Change
Total Liabilities & Shareholders Equity $767.3M $745.5M
YoY Change 5.3% 3.03%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $20.91M $89.85M
YoY Change 3.65% 308.09%
Depreciation, Depletion And Amortization $4.692M $4.539M
YoY Change 72.75% 29.72%
Cash From Operating Activities $18.70M $15.63M
YoY Change -32.49% -40.75%
INVESTING ACTIVITIES
Capital Expenditures $5.300M $8.766M
YoY Change -126.52% -180.46%
Acquisitions
YoY Change
Other Investing Activities -$22.00M $31.13M
YoY Change -2839.73%
Cash From Investing Activities -$27.30M $22.36M
YoY Change 42.34% -305.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.400M -104.0M
YoY Change -88.24% 2283.68%
NET CHANGE
Cash From Operating Activities 18.70M 15.63M
Cash From Investing Activities -27.30M 22.36M
Cash From Financing Activities -2.400M -104.0M
Net Change In Cash -11.00M -66.03M
YoY Change -7.48% -694.09%
FREE CASH FLOW
Cash From Operating Activities $18.70M $15.63M
Capital Expenditures $5.300M $8.766M
Free Cash Flow $13.40M $6.861M
YoY Change -71.9% -81.59%

Facts In Submission

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gogo Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Contract With Customer Asset
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gogo Increase Decrease In Accrued Interest Payable
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gogo Increase Decrease In Accrued Interest Payable
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gogo Proceeds From Interest Rate Caps
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gogo Proceeds From Interest Rate Caps
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us-gaap Payments For Proceeds From Short Term Investments
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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gogo Repayments Of Term Loan
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gogo Repayments Of Term Loan
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gogo Repayments Of Long Term Capital Lease Obligations1
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gogo Repayments Of Long Term Capital Lease Obligations1
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103000
gogo Stock Compensation Activity
StockCompensationActivity
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gogo Stock Compensation Activity
StockCompensationActivity
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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55000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
18055000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
150880000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146268000
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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gogo Settlement Of Convertible Notes Value
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CY2022Q2 gogo Number Of Customers Meeting Concentration Risk Threshold
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gogo Number Of Customers Meeting Concentration Risk Threshold
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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97530000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
164323000
CY2023Q2 us-gaap Restricted Cash Noncurrent
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CY2022Q2 us-gaap Restricted Cash Noncurrent
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330000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 us-gaap Stockholders Equity
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CY2023Q2 us-gaap Net Income Loss
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CY2023Q2 gogo Tax Withholding Related To Vesting Of Restricted Stock Units
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CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Stock Issued During Period Value Stock Options Exercised
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gogo Tax Withholding Related To Vesting Of Restricted Stock Units
TaxWithholdingRelatedToVestingOfRestrictedStockUnits
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gogo Number Of Classes Of Common Stock Outstanding
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CY2022 gogo Number Of Classes Of Common Stock Outstanding
NumberOfClassesOfCommonStockOutstanding
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us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates the significant estimates and bases such estimates on historical experience and various other assumptions believed to be reasonable under the circumstances. However, actual results could differ materially from those estimates.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Federal Communications Commission's (“FCC”) Secure and Trusted Communications Networks Reimbursement Program (the “FCC Reimbursement Program”)</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> – In July 2023, the Company elected to participate the FCC Reimbursement Program. There is no applicable authoritative guidance under GAAP to account for this government grant. Therefore, we have elected to apply International Accounting Standard (“IAS”) 20 </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Accounting for Government Grants and Disclosure of Government Assistance </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">by analogy. Under IAS 20, government grants related to assets are presented as either deferred income that is recognized on a systematic basis over the useful life of the asset or by deducting the grant from the carrying value of the asset. The Company has elected to deduct the grant from the carrying value of the asset. For grants related to income, the Company has elected to recognize these grants as a deduction from the related expense. Grant receivables from the FCC are recorded by the Company once there is reasonable assurance that we will comply with the conditions of the grant and the grant will be received. See Note 16, “Government Assistance,” for additional information.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As a result of our determination to participate in the FCC Reimbursement Program, we reassessed and shortened the estimated useful lives of affected network equipment to be consistent with our estimated date to complete the program. This change in accounting estimate was effective beginning the second quarter of 2023 and resulted in increased depreciation expense of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million for the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three- and six-month periods ended June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. Net income per basic and diluted share decreased by $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">0.01</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, respectively, for both the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three- and six-month periods ended June 30, 2023</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></p>
CY2023Q2 us-gaap Depreciation
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us-gaap Depreciation
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CY2023Q2 gogo Increase Decrease Earnings Per Share Diluted
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CY2023Q2 us-gaap Revenue Remaining Performance Obligation
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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us-gaap Revenue Performance Obligation Description Of Timing
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two years
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CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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gogo Number Of Customers Meeting Concentration Risk Threshold
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CY2023Q2 gogo Number Of Customers Meeting Concentration Risk Threshold
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gogo Number Of Customers Meeting Concentration Risk Threshold
NumberOfCustomersMeetingConcentrationRiskThreshold
0
CY2022 gogo Number Of Customers Meeting Concentration Risk Threshold
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CY2023Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
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us-gaap Weighted Average Number Of Shares Restricted Stock
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1200000
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100000
us-gaap Weighted Average Number Of Shares Restricted Stock
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100000
CY2023Q2 us-gaap Income Loss From Continuing Operations
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CY2022Q2 us-gaap Income Loss From Continuing Operations
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CY2022Q2 gogo Derivative Gain Loss On Derivative To Continuing Operations Net
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64000
CY2023Q2 us-gaap Undistributed Earnings Loss From Discontinued Operations Available To Common Shareholders Basic
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89849000
CY2023Q2 gogo Income Loss From Continuing Operations Basic Shares
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CY2023Q2 us-gaap Earnings Per Share Basic
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CY2022Q2 us-gaap Undistributed Earnings Loss From Discontinued Operations Available To Common Shareholders Basic
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21953000
CY2022Q2 gogo Income Loss From Continuing Operations Basic Shares
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123252000
CY2022Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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3414
CY2022Q2 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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5061
CY2023Q2 us-gaap Undistributed Earnings Loss From Continuing Operations Available To Common Shareholders Diluted
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89849000
CY2023Q2 gogo Income Loss From Continuing Operations Diluted Shares
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133228000
CY2023Q2 us-gaap Earnings Per Share Diluted
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CY2022Q2 us-gaap Undistributed Earnings Loss From Continuing Operations Available To Common Shareholders Diluted
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22904000
CY2022Q2 gogo Income Loss From Continuing Operations Diluted Shares
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134718000
CY2022Q2 us-gaap Earnings Per Share Diluted
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0.17
CY2023Q2 us-gaap Earnings Per Share Basic
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0.69
CY2022Q2 us-gaap Earnings Per Share Basic
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0.18
CY2023Q2 us-gaap Earnings Per Share Diluted
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0.67
CY2022Q2 us-gaap Earnings Per Share Diluted
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0.17
us-gaap Income Loss From Continuing Operations
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0
gogo Derivative Gain Loss On Derivative To Continuing Operations Net
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110298000
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129467000
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44040000
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3940
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5455
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110298000
gogo Income Loss From Continuing Operations Diluted Shares
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133407000
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46810000
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23371000
CY2022Q4 us-gaap Inventory Finished Goods
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49493000
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28860000
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7399000
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6494000
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2992000
CY2022Q4 gogo Prepaid Inventories Current
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2901000
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907000
CY2022Q4 gogo Fcc Reimbursement Receivable
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CY2022Q4 us-gaap Other Assets Miscellaneous Current
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48723000
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45100000
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8748000
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3292000
CY2022Q4 gogo Inventory Accrued Liabilities
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2455000
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2700000
CY2022Q4 us-gaap Standard Product Warranty Accrual
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2300000
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1890000
CY2022Q4 us-gaap Taxes Payable Current
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2282000
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216919000
CY2022Q4 us-gaap Property Plant And Equipment Gross
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211962000
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113208000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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107367000
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103711000
CY2022Q4 us-gaap Property Plant And Equipment Net
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104595000
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513000
CY2022Q4 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Noncurrent
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501000
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12932000
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13376000
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19256000
CY2022Q4 gogo Interest Rate Cap Noncurrent
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25578000
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1230000
CY2022Q4 gogo Deferred Financing Costs Noncurrent
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1445000
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4038000
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2956000
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37456000
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43355000
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9384000
CY2022Q4 us-gaap Operating Lease Liability Current
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9094000
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7571000
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19235000
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4644000
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150000
CY2022Q4 us-gaap Interest Payable Current
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9878000
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6307000
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6064000
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35938000
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60056000
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CY2022Q4 us-gaap Goodwill
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600000
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78164000
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59945000
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18219000
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75361000
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58755000
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59945000
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50502000
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107644000
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58755000
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48889000
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600000
us-gaap Amortization Of Intangible Assets
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1200000
CY2022Q2 us-gaap Amortization Of Intangible Assets
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1500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3400000
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1329000
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2688000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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2586000
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2482000
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2291000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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6843000
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10937000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
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590051000
CY2022Q4 us-gaap Long Term Debt Noncurrent
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690173000
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2026-04-30
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1
CY2021Q2 gogo Prepayment Of Net Cash Proceeds Reduced Percentage
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CY2021Q2 gogo Prepayment Of Net Cash Proceeds Maximum Reduction Percentage
PrepaymentOfNetCashProceedsMaximumReductionPercentage
0
CY2021Q2 gogo Prepayment Of Net Cash Proceeds Of Debt Offerings Percentage
PrepaymentOfNetCashProceedsOfDebtOfferingsPercentage
1
CY2022Q2 gogo Retired Shares Under Amended And Restated Forward Transaction
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600000
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650000000.0
us-gaap Derivative Description Of Terms
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we receive payments in the amount calculated pursuant to the caps for any period in which the three-month USD LIBOR rate increases beyond the applicable strike rate.
CY2023Q3 gogo Increase In Derivative Instruments And Hedging Strike Rate
IncreaseInDerivativeInstrumentsAndHedgingStrikeRate
0.0026
CY2023Q2 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
200000
CY2023Q2 gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
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700000
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5500000
gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
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1700000
CY2022Q2 us-gaap Increase Decrease In Fair Value Of Price Risk Fair Value Hedging Instruments1
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4600000
CY2022Q2 gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
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1500000
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20600000
gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
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6800000
us-gaap Lessee Operating Lease Option To Extend
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15 years
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
14212000
CY2022Q2 us-gaap Interest Expense Debt
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9373000
us-gaap Interest Expense Debt
InterestExpenseDebt
28709000
us-gaap Interest Expense Debt
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19200000
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645000
CY2022Q2 us-gaap Amortization Of Financing Costs
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810000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1275000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1749000
CY2023Q2 gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
278000
CY2022Q2 gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
20000
gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
412000
gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
28000
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111000
CY2022Q2 us-gaap Accretion Expense
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116000
us-gaap Accretion Expense
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219000
us-gaap Accretion Expense
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231000
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7806000
CY2022Q2 us-gaap Interest Expense
InterestExpense
9772000
us-gaap Interest Expense
InterestExpense
16782000
us-gaap Interest Expense
InterestExpense
20661000
CY2023Q2 gogo Interest Cost Including Capitalized Interest Cost
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8485000
CY2022Q2 gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
10000000
gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
18115000
gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
21026000
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3972000
CY2022Q2 us-gaap Operating Lease Cost
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3618000
us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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7164000
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39000
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
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39000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
78000
us-gaap Finance Lease Right Of Use Asset Amortization
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77000
CY2023Q2 us-gaap Finance Lease Interest Expense
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3000
CY2022Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000
us-gaap Finance Lease Interest Expense
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8000
us-gaap Finance Lease Interest Expense
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24000
CY2023Q2 us-gaap Lease Cost
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4014000
CY2022Q2 us-gaap Lease Cost
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3668000
us-gaap Lease Cost
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7996000
us-gaap Lease Cost
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7265000
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7982000
us-gaap Operating Lease Payments
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7117000
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8000
us-gaap Finance Lease Interest Payment On Liability
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24000
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97000
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103000
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2000000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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5688000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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0
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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11000
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P7Y
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y
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0.067
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.153
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.174
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6783000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
37000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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15606000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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14758000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14593000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
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0
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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13737000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Five
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0
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
43032000
CY2023Q2 us-gaap Finance Lease Liability Payments Due After Year Five
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0
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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108509000
CY2023Q2 us-gaap Finance Lease Liability Payments Due
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42000
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23162000
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
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1000
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85347000
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41000
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9384000
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37000
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75963000
CY2023Q2 us-gaap Finance Lease Liability Noncurrent
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0
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0
CY2023Q2 gogo Other Non Current Finance Lease Liabilities
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4000
CY2023Q2 us-gaap Operating Lease Liability
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85347000
CY2023Q2 us-gaap Finance Lease Liability
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0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
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0.21
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us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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71400000
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0
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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0
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0
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114771
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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1875
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4120
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10494000
us-gaap Allocated Share Based Compensation Expense
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9411000
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1
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500000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1000000.0
CY2022Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
900000
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9200000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17100000
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8000000.0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13400000
CY2022Q3 gogo Reimbursements Cost
ReimbursementsCost
132000000

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0000950170-23-039039.txt Edgar Link pending
0000950170-23-039039-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gogo-20230630.htm Edgar Link pending
gogo-20230630.xsd Edgar Link pending
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gogo-20230630_def.xml Edgar Link unprocessable