$GOGO
Gogo Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023060313 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $97.81M $97.95M $105.3M
YoY Change -9.57% -7.0% 20.82%
Cost Of Revenue $33.24M $30.40M $36.56M
YoY Change -12.09% -16.84% 44.2%
Gross Profit $64.57M $67.50M $68.76M
YoY Change -8.22% -1.83% 11.23%
Gross Profit Margin 66.02% 68.91% 65.29%
Selling, General & Admin $24.60M $20.35M $21.71M
YoY Change 17.98% -6.28% 4.45%
% of Gross Profit 38.09% 30.15% 31.58%
Research & Development $10.42M $9.200M $8.000M
YoY Change 26.49% 15.0% 33.33%
% of Gross Profit 16.14% 13.63% 11.63%
Depreciation & Amortization $4.679M $4.692M $2.716M
YoY Change 81.78% 72.75% -34.71%
% of Gross Profit 7.25% 6.95% 3.95%
Operating Expenses $39.70M $29.55M $29.71M
YoY Change 25.38% -0.55% 10.92%
Operating Profit $24.88M $33.32M $36.34M
YoY Change -35.71% -8.33% 17.56%
Interest Expense -$8.471M $8.025M $8.781M
YoY Change 6.22% -8.61% -19.76%
% of Operating Profit -34.05% 24.09% 24.16%
Other Income/Expense, Net $2.698M -$5.675M -$8.186M
YoY Change -24627.27% -30.67% -25.93%
Pretax Income $19.10M $27.64M $28.16M
YoY Change -37.79% -1.83% 41.77%
Income Tax $4.636M $6.728M $8.000M
% Of Pretax Income 24.27% 24.34% 28.41%
Net Earnings $14.47M $20.91M $20.18M
YoY Change -47.72% 3.65% 84.1%
Net Earnings / Revenue 14.79% 21.35% 19.16%
Basic Earnings Per Share $0.16 $0.16
Diluted Earnings Per Share $0.11 $0.16 $0.15
COMMON SHARES
Basic Shares Outstanding 128.8M 128.7M 128.7M
Diluted Shares Outstanding 133.3K 134.2K

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $139.0M $110.8M $152.2M
YoY Change -20.71% -27.18% 14.21%
Cash & Equivalents $139.0M $86.16M $152.2M
Short-Term Investments $0.00 $24.70M
Other Short-Term Assets $57.20M $56.70M $36.15M
YoY Change 465.77% 56.83% 216.66%
Inventory $63.19M $62.79M $46.60M
Prepaid Expenses
Receivables $48.23M $49.36M $49.23M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $314.6M $286.8M $290.4M
YoY Change -2.95% -1.23% 20.77%
LONG-TERM ASSETS
Property, Plant & Equipment $98.13M $101.0M $98.69M
YoY Change -6.18% 2.32% 68.98%
Goodwill $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 0.0%
Intangibles $55.03M $52.10M $49.60M
YoY Change 12.55% 5.04% 4.33%
Long-Term Investments $5.800M
YoY Change
Other Assets $25.98M $37.24M $49.51M
YoY Change -40.08% -24.78% 99.96%
Total Long-Term Assets $466.9M $480.5M $438.2M
YoY Change 7.25% 9.64% 116.16%
TOTAL ASSETS
Total Short-Term Assets $314.6M $286.8M $290.4M
Total Long-Term Assets $466.9M $480.5M $438.2M
Total Assets $781.5M $767.3M $728.6M
YoY Change 2.9% 5.3% 64.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.09M $15.33M $18.41M
YoY Change 17.94% -16.75% 31.77%
Accrued Expenses $47.65M $38.22M $50.68M
YoY Change -20.66% -24.58% -46.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.250M $7.250M $7.250M
YoY Change 0.0% 0.0% -93.37%
Total Short-Term Liabilities $72.00M $62.50M $77.94M
YoY Change -14.67% -19.81% -64.63%
LONG-TERM LIABILITIES
Long-Term Debt $587.5M $588.7M $691.3M
YoY Change -14.88% -14.84% -0.65%
Other Long-Term Liabilities $8.270M $8.031M $7.523M
YoY Change 8.66% 6.75% -19.79%
Total Long-Term Liabilities $668.8M $671.2M $779.0M
YoY Change -13.93% -13.83% -0.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.00M $62.50M $77.94M
Total Long-Term Liabilities $668.8M $671.2M $779.0M
Total Liabilities $740.8M $733.7M $856.9M
YoY Change -14.0% -14.37% -14.6%
SHAREHOLDERS EQUITY
Retained Earnings -$1.214B -$1.228B -$1.387B
YoY Change -10.72% -11.45% -16.95%
Common Stock $1.402B $1.396B $1.384B
YoY Change 1.16% 0.9% 11.58%
Preferred Stock
YoY Change
Treasury Stock (at cost) $163.2M $158.4M $158.4M
YoY Change 3.04% 0.0% 22.96%
Treasury Stock Shares
Shareholders Equity $40.73M $33.54M -$128.3M
YoY Change
Total Liabilities & Shareholders Equity $781.5M $767.3M $728.6M
YoY Change 2.9% 5.3% 64.4%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income $14.47M $20.91M $20.18M
YoY Change -47.72% 3.65% 84.1%
Depreciation, Depletion And Amortization $4.679M $4.692M $2.716M
YoY Change 81.78% 72.75% -34.71%
Cash From Operating Activities $26.15M $18.70M $27.70M
YoY Change -16.89% -32.49% 3.57%
INVESTING ACTIVITIES
Capital Expenditures $5.371M $5.300M -$19.98M
YoY Change -46.19% -126.52% 817.45%
Acquisitions
YoY Change
Other Investing Activities $38.64M -$22.00M $803.0K
YoY Change -281.33% -2839.73% -19.7%
Cash From Investing Activities $33.26M -$27.30M -$19.18M
YoY Change -206.31% 42.34% 1528.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.553M -2.400M -20.41M
YoY Change 277.48% -88.24% 1475.98%
NET CHANGE
Cash From Operating Activities 26.15M 18.70M 27.70M
Cash From Investing Activities 33.26M -27.30M -19.18M
Cash From Financing Activities -6.553M -2.400M -20.41M
Net Change In Cash 52.86M -11.00M -11.89M
YoY Change -3490.83% -7.48% -148.98%
FREE CASH FLOW
Cash From Operating Activities $26.15M $18.70M $27.70M
Capital Expenditures $5.371M $5.300M -$19.98M
Free Cash Flow $20.78M $13.40M $47.68M
YoY Change -3.27% -71.9% 64.85%

Facts In Submission

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CY2022Q3 gogo Amount Realized And Reclassified To Earnings
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gogo Amount Realized And Reclassified To Earnings
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Increase Decrease In Accounts Payable
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gogo Increase Decrease In Accrued Interest Payable
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gogo Proceeds From Fcc Reimbursement Program
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gogo Proceeds From Fcc Reimbursement Program
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gogo Proceeds From Interest Rate Caps
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gogo Proceeds From Interest Rate Caps
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gogo Redemptions Of Short Term Investments
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gogo Redemptions Of Short Term Investments
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us-gaap Payments For Proceeds From Short Term Investments
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us-gaap Payments To Acquire Equity Method Investments
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us-gaap Payments To Acquire Equity Method Investments
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us-gaap Net Cash Provided By Used In Investing Activities
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gogo Repayments Of Term Loan
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gogo Repayments Of Term Loan
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us-gaap Payments For Repurchase Of Common Stock
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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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gogo Stock Compensation Activity
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gogo Stock Compensation Activity
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86487000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q3 us-gaap Restricted Cash Noncurrent
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CY2022Q3 us-gaap Restricted Cash Noncurrent
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q2 us-gaap Stockholders Equity
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CY2023Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q3 gogo Tax Withholding Related To Vesting Of Restricted Stock Units
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CY2023Q3 us-gaap Stockholders Equity
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Net Income Loss
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CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022Q3 gogo Tax Withholding Related To Vesting Of Restricted Stock Units
TaxWithholdingRelatedToVestingOfRestrictedStockUnits
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CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
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CY2022Q3 us-gaap Payments For Repurchase Of Common Stock
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CY2022Q3 us-gaap Stockholders Equity
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CY2022Q4 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
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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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us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
31922000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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gogo Tax Withholding Related To Vesting Of Restricted Stock Units
TaxWithholdingRelatedToVestingOfRestrictedStockUnits
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us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
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gogo Settlement Of Convertible Notes Value
SettlementOfConvertibleNotesValue
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us-gaap Payments For Repurchase Of Common Stock
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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
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gogo Number Of Classes Of Common Stock Outstanding
NumberOfClassesOfCommonStockOutstanding
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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:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">The Federal Communications Commission (“FCC”) Secure and Trusted Communications Networks Reimbursement Program (the “FCC Reimbursement Program”)</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> – In July 2023, the Company elected to participate in 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="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Accounting for Government Grants and Disclosure of Government Assistance </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;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:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1.9</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">3.6</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million for the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three- and nine-month periods ended September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively. Net income per basic and diluted share decreased by $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">0.01</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three-month period ended September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and decreased by $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">0.02</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">nine-month period ended September 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span></p>
CY2023Q3 us-gaap Depreciation
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us-gaap Depreciation
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gogo Increase Decrease Earnings Per Share Basic
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gogo Increase Decrease Earnings Per Share Diluted
IncreaseDecreaseEarningsPerShareDiluted
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CY2023Q3 us-gaap Revenue Remaining Performance Obligation
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue Performance Obligation Description Of Timing
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two years
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CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
299767000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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gogo Number Of Customers Meeting Concentration Risk Threshold
NumberOfCustomersMeetingConcentrationRiskThreshold
0
CY2023Q3 gogo Number Of Customers Meeting Concentration Risk Threshold
NumberOfCustomersMeetingConcentrationRiskThreshold
0
CY2022Q3 gogo Number Of Customers Meeting Concentration Risk Threshold
NumberOfCustomersMeetingConcentrationRiskThreshold
0
gogo Number Of Customers Meeting Concentration Risk Threshold
NumberOfCustomersMeetingConcentrationRiskThreshold
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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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CY2023Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
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us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1500000
CY2022Q3 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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400000
CY2023Q3 us-gaap Income Loss From Continuing Operations
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CY2022Q3 us-gaap Income Loss From Continuing Operations
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CY2023Q3 gogo Derivative Gain Loss On Derivative To Continuing Operations Net
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0
CY2022Q3 gogo Derivative Gain Loss On Derivative To Continuing Operations Net
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0
CY2023Q3 us-gaap Undistributed Earnings Loss From Discontinued Operations Available To Common Shareholders Basic
UndistributedEarningsLossFromDiscontinuedOperationsAvailableToCommonShareholdersBasic
20913000
CY2023Q3 gogo Income Loss From Continuing Operations Basic Shares
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129951000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2022Q3 us-gaap Undistributed Earnings Loss From Discontinued Operations Available To Common Shareholders Basic
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20176000
CY2022Q3 gogo Income Loss From Continuing Operations Basic Shares
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129914000
CY2022Q3 us-gaap Earnings Per Share Basic
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0
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3369
CY2022Q3 us-gaap Amount Of Dilutive Securities Stock Options And Restrictive Stock Units
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4307
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20913000
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133320000
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20176000
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134221000
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3750
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131211000
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133382000
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66997000
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0.98
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1300000
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34845000
CY2022Q4 us-gaap Inventory Work In Process
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34840000
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27947000
CY2022Q4 us-gaap Inventory Finished Goods
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14653000
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62792000
CY2022Q4 us-gaap Inventory Net
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49493000
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27582000
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28496000
CY2023Q3 gogo Fcc Reimbursement Receivable
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16242000
CY2022Q4 gogo Fcc Reimbursement Receivable
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0
CY2023Q3 us-gaap Contract With Customer Asset Net Current
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7154000
CY2022Q4 us-gaap Contract With Customer Asset Net Current
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6494000
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3115000
CY2022Q4 gogo Prepaid Inventories Current
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2901000
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CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
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45100000
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218015000
CY2022Q4 us-gaap Property Plant And Equipment Gross
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211962000
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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117033000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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107367000
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100982000
CY2022Q4 us-gaap Property Plant And Equipment Net
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17470000
CY2022Q4 gogo Interest Rate Cap Noncurrent
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25578000
CY2023Q3 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Noncurrent
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545000
CY2022Q4 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss Noncurrent
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501000
CY2023Q3 us-gaap Contract With Customer Asset Net Noncurrent
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9850000
CY2022Q4 us-gaap Contract With Customer Asset Net Noncurrent
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13376000
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5773000
CY2022Q4 gogo Equity Investment
EquityInvestment
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CY2023Q3 gogo Deferred Financing Costs Noncurrent
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1121000
CY2022Q4 gogo Deferred Financing Costs Noncurrent
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1445000
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3025000
CY2022Q4 us-gaap Other Assets Miscellaneous Noncurrent
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2956000
CY2023Q3 us-gaap Other Assets Noncurrent
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37239000
CY2022Q4 us-gaap Other Assets Noncurrent
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43355000
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9738000
CY2022Q4 us-gaap Operating Lease Liability Current
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9094000
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7526000
CY2022Q4 us-gaap Employee Related Liabilities Current
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19235000
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4694000
CY2022Q4 gogo Network Equipment Current
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8748000
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2870000
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2300000
CY2023Q3 gogo Inventory Accrued Liabilities
InventoryAccruedLiabilities
2508000
CY2022Q4 gogo Inventory Accrued Liabilities
InventoryAccruedLiabilities
2455000
CY2023Q3 us-gaap Taxes Payable Current
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CY2022Q4 us-gaap Taxes Payable Current
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2282000
CY2023Q3 us-gaap Interest Payable Current
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CY2022Q4 us-gaap Interest Payable Current
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8264000
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6064000
CY2023Q3 us-gaap Accrued Liabilities Current
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38219000
CY2022Q4 us-gaap Accrued Liabilities Current
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60056000
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600000
CY2022Q4 us-gaap Goodwill
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600000
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80254000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
60438000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
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19816000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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75361000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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58755000
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16606000
CY2023Q3 us-gaap Intangible Assets Gross Excluding Goodwill
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112537000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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60438000
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
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52099000
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
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107644000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
58755000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
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48889000
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1700000
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4100000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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284000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1693000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2969000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
2903000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2704000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
9263000
CY2023Q3 us-gaap Deferred Finance Costs Current Net
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10527000
CY2022Q4 us-gaap Deferred Finance Costs Current Net
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13840000
CY2023Q3 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Current
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7250000
CY2023Q3 us-gaap Long Term Debt Noncurrent
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588733000
CY2022Q4 us-gaap Long Term Debt Noncurrent
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690173000
CY2022Q2 us-gaap Debt Instrument Maturity Date
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2026-04-30
CY2021Q2 gogo Prepayment Of Net Cash Proceeds Percentage
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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
CY2021Q2 us-gaap Derivative Notional Amount
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650000000
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 daily compounded SOFR rate plus a credit spread adjustment recommended by the Alternative Reference Rates Committee of 0.26% increases beyond the applicable strike rate
CY2023Q3 us-gaap Price Risk Cash Flow Hedge Unrealized Gain Loss To Be Reclassified During Next12 Months
PriceRiskCashFlowHedgeUnrealizedGainLossToBeReclassifiedDuringNext12Months
200000
CY2023Q3 gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
UnrealizedGainLossOnInterestRateCapsNetOfTax
400000
us-gaap Increase Decrease In Fair Value Of Price Risk Fair Value Hedging Instruments1
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7200000
gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
UnrealizedGainLossOnInterestRateCapsNetOfTax
2100000
CY2022Q3 us-gaap Increase Decrease In Fair Value Of Price Risk Fair Value Hedging Instruments1
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11200000
CY2022Q3 gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
UnrealizedGainLossOnInterestRateCapsNetOfTax
3700000
us-gaap Increase Decrease In Fair Value Of Price Risk Fair Value Hedging Instruments1
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31800000
gogo Unrealized Gain Loss On Interest Rate Caps Net Of Tax
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10500000
CY2023Q3 us-gaap Interest Expense Debt
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13545000
CY2022Q3 us-gaap Interest Expense Debt
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10553000
us-gaap Interest Expense Debt
InterestExpenseDebt
42254000
us-gaap Interest Expense Debt
InterestExpenseDebt
29753000
CY2023Q3 us-gaap Amortization Of Financing Costs
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519000
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
663000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1794000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2412000
CY2023Q3 gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
465000
CY2022Q3 gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
46000
gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
877000
gogo Amortization Of Interest Rate Cap Premium
AmortizationOfInterestRateCapPremium
74000
CY2023Q3 us-gaap Accretion Expense
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85000
CY2022Q3 us-gaap Accretion Expense
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114000
us-gaap Accretion Expense
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304000
us-gaap Accretion Expense
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345000
CY2023Q3 us-gaap Interest Expense
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8025000
CY2022Q3 us-gaap Interest Expense
InterestExpense
8781000
us-gaap Interest Expense
InterestExpense
24807000
us-gaap Interest Expense
InterestExpense
29442000
CY2023Q3 gogo Interest Cost Including Capitalized Interest Cost
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8793000
CY2022Q3 gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
9283000
gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
26908000
gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
30309000
us-gaap Lessee Operating Lease Option To Extend
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15 years
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3998000
CY2022Q3 us-gaap Operating Lease Cost
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3843000
us-gaap Operating Lease Cost
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11908000
us-gaap Operating Lease Cost
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11007000
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22000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
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40000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000
us-gaap Finance Lease Right Of Use Asset Amortization
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117000
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
8000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
33000
CY2023Q3 us-gaap Lease Cost
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4020000
CY2022Q3 us-gaap Lease Cost
LeaseCost
3892000
us-gaap Lease Cost
LeaseCost
12016000
us-gaap Lease Cost
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11157000
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12203000
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11134000
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8000
us-gaap Finance Lease Interest Payment On Liability
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33000
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117000
us-gaap Finance Lease Principal Payments
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136000
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3713000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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11525000
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
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P1Y
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0.068
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.067
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0.129
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.172
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2761000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
16000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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16035000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15197000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14983000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
14020000
CY2023Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
43503000
CY2023Q3 us-gaap Finance Lease Liability Payments Due After Year Five
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0
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
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106499000
CY2023Q3 us-gaap Finance Lease Liability Payments Due
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21000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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22280000
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
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0
CY2023Q3 us-gaap Operating Lease Liability
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84219000
CY2023Q3 us-gaap Finance Lease Liability
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21000
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9738000
CY2023Q3 us-gaap Finance Lease Liability Current
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18000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
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74481000
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
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0
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0
CY2023Q3 gogo Other Non Current Finance Lease Liabilities
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3000
CY2023Q3 us-gaap Operating Lease Liability
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84219000
CY2023Q3 us-gaap Finance Lease Liability
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21000
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0.243
us-gaap Effective Income Tax Rate Continuing Operations
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0.671
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0.283
us-gaap Effective Income Tax Rate Continuing Operations
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0.142
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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
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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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
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
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0
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
140141
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1875
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
4120
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5235000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4690000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15729000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14101000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
gogo Defined Contribution Plan Employer Matching Contribution Limit Percent
DefinedContributionPlanEmployerMatchingContributionLimitPercent
0.04
CY2023Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1600000
CY2022Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1400000
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9200000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26300000
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8000000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
21300000
CY2022Q3 gogo Reimbursements Cost
ReimbursementsCost
132000000
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-23-060313-index.html Edgar Link pending
0000950170-23-060313.txt Edgar Link pending
0000950170-23-060313-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
gogo-20230930.htm Edgar Link pending
gogo-20230930.xsd Edgar Link pending
gogo-ex31_1.htm Edgar Link pending
gogo-ex31_2.htm Edgar Link pending
gogo-ex32_1.htm Edgar Link pending
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gogo-20230930_cal.xml Edgar Link unprocessable
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gogo-20230930_htm.xml Edgar Link completed
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report.css Edgar Link pending
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gogo-20230930_def.xml Edgar Link unprocessable