2018 Q3 Form 10-Q Financial Statement

#000119312518242316 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $217.3M $227.5M $172.8M
YoY Change 25.67% 31.63% 17.12%
Cost Of Revenue $123.4M $138.0M $83.80M
YoY Change 48.32% 64.68% 27.16%
Gross Profit $93.80M $89.50M $89.00M
YoY Change 4.57% 0.56% 8.94%
Gross Profit Margin 43.17% 39.35% 51.5%
Selling, General & Admin $38.82M $36.56M $40.11M
YoY Change -3.8% -8.86% 2.49%
% of Gross Profit 41.39% 40.85% 45.07%
Research & Development $19.20M $18.00M $17.20M
YoY Change 3.23% 4.65% 59.26%
% of Gross Profit 20.47% 20.11% 19.33%
Depreciation & Amortization $32.59M $31.94M $30.56M
YoY Change -9.03% 4.5% 22.71%
% of Gross Profit 34.74% 35.68% 34.34%
Operating Expenses $58.02M $54.56M $57.31M
YoY Change -1.59% -4.8% 14.77%
Operating Profit -$7.610M -$7.449M -$17.34M
YoY Change -57.25% -57.03% 144.31%
Interest Expense $30.74M $30.64M $27.23M
YoY Change 11.45% 12.54% 55.07%
% of Operating Profit
Other Income/Expense, Net -$29.91M -$29.69M -$26.51M
YoY Change 10.25% 11.98% -19.36%
Pretax Income -$37.52M -$37.14M -$43.85M
YoY Change -16.49% -15.31% 9.69%
Income Tax $195.0K $71.00K $362.0K
% Of Pretax Income
Net Earnings -$37.72M -$37.21M -$44.21M
YoY Change -16.7% -15.84% 9.99%
Net Earnings / Revenue -17.36% -16.36% -25.58%
Basic Earnings Per Share
Diluted Earnings Per Share -$470.1K -$466.2K -$557.4K
COMMON SHARES
Basic Shares Outstanding 87.35M shares 87.00M shares 86.41M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $191.2M $263.6M $379.7M
YoY Change -53.47% -30.58% -25.34%
Cash & Equivalents $102.7M $140.4M $96.42M
Short-Term Investments $88.60M $123.2M $283.2M
Other Short-Term Assets $22.50M $25.80M $20.90M
YoY Change 10.29% 23.44% -10.68%
Inventory $209.7M $178.5M $52.04M
Prepaid Expenses $6.241M $6.536M
Receivables $146.2M $141.1M $87.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $579.6M $618.3M $539.7M
YoY Change -2.08% 14.58% -13.26%
LONG-TERM ASSETS
Property, Plant & Equipment $506.7M $532.1M $583.2M
YoY Change -17.52% -8.76% 24.86%
Goodwill $600.0K $600.0K $620.0K
YoY Change -3.23% -3.23% 0.0%
Intangibles $83.51M $82.46M $90.30M
YoY Change -7.89% -8.68% 9.4%
Long-Term Investments
YoY Change
Other Assets $77.99M $70.74M $56.56M
YoY Change 33.3% 25.08% 123.08%
Total Long-Term Assets $668.8M $686.0M $737.6M
YoY Change -13.25% -7.0% 26.48%
TOTAL ASSETS
Total Short-Term Assets $579.6M $618.3M $539.7M
Total Long-Term Assets $668.8M $686.0M $737.6M
Total Assets $1.248B $1.304B $1.277B
YoY Change -8.4% 2.12% 5.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.91M $37.26M $29.47M
YoY Change 33.83% 26.42% 28.8%
Accrued Expenses $184.9M $205.0M $148.6M
YoY Change 24.72% 38.0% 74.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.200M $1.400M $2.600M
YoY Change -42.86% -46.15% -7.14%
Total Short-Term Liabilities $278.7M $308.2M $268.3M
YoY Change 3.58% 14.86% 50.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.018B $1.012B $880.4M
YoY Change 2.26% 14.97% 11.31%
Other Long-Term Liabilities $83.12M $83.89M $118.8M
YoY Change -32.53% -29.41% 42.56%
Total Long-Term Liabilities $1.231B $1.224B $1.125B
YoY Change -1.47% 8.78% 10.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $278.7M $308.2M $268.3M
Total Long-Term Liabilities $1.231B $1.224B $1.125B
Total Liabilities $1.510B $1.533B $1.394B
YoY Change -0.57% 9.96% 16.6%
SHAREHOLDERS EQUITY
Retained Earnings -$1.170B -$1.132B -$1.003B
YoY Change 11.6% 12.88% 17.01%
Common Stock $911.4M $907.1M $888.1M
YoY Change 1.97% 2.14% 2.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$261.3M -$228.2M -$116.5M
YoY Change
Total Liabilities & Shareholders Equity $1.248B $1.304B $1.277B
YoY Change -8.4% 2.12% 5.97%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$37.72M -$37.21M -$44.21M
YoY Change -16.7% -15.84% 9.99%
Depreciation, Depletion And Amortization $32.59M $31.94M $30.56M
YoY Change -9.03% 4.5% 22.71%
Cash From Operating Activities -$62.90M $17.20M $16.40M
YoY Change 853.03% 4.88% -38.81%
INVESTING ACTIVITIES
Capital Expenditures -$9.200M -$52.50M -$74.10M
YoY Change -86.57% -29.15% 55.67%
Acquisitions
YoY Change
Other Investing Activities $34.60M $59.40M $50.00M
YoY Change -62.31% 18.8% -127.9%
Cash From Investing Activities $25.40M $6.900M -$24.10M
YoY Change 9.48% -128.63% -89.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K -700.0K -2.500M
YoY Change -100.09% -72.0% -101.15%
NET CHANGE
Cash From Operating Activities -62.90M 17.20M 16.40M
Cash From Investing Activities 25.40M 6.900M -24.10M
Cash From Financing Activities -100.0K -700.0K -2.500M
Net Change In Cash -37.60M 23.40M -10.20M
YoY Change -129.91% -329.41% -160.36%
FREE CASH FLOW
Cash From Operating Activities -$62.90M $17.20M $16.40M
Capital Expenditures -$9.200M -$52.50M -$74.10M
Free Cash Flow -$53.70M $69.70M $90.50M
YoY Change -186.75% -22.98% 21.64%

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2018-06-30
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NetIncomeLossAvailableToCommonStockholdersBasic
-37207000
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-29687000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-37207000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-374000
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1379000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-7449000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4213000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18000000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
227458000
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
15427000
CY2018Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
79783000 shares
CY2018Q2 gogo Cost Of Services Exclusive Of Depreciation And Amortization
CostOfServicesExclusiveOfDepreciationAndAmortization
73650000
CY2018Q2 gogo Income From Transition Services
IncomeFromTransitionServices
2249000
CY2018Q2 gogo Segment Profit
SegmentProfit
19246000
CY2018Q2 gogo Amortization Of Deferred Airborne Lease Incentive
AmortizationOfDeferredAirborneLeaseIncentive
7462000
CY2018Q2 gogo Cost Of Goods Sold Exclusive Of Depreciation And Amortization
CostOfGoodsSoldExclusiveOfDepreciationAndAmortization
64350000
CY2018Q2 gogo Engineering Design And Development Expense
EngineeringDesignAndDevelopmentExpense
28409000
CY2018Q2 gogo Amortization Of Supplemental Type Certificates Costs
AmortizationOfSupplementalTypeCertificatesCosts
-255000
CY2018Q2 gogo Rental Expense Net Of Amortization Of Deferred Incentive
RentalExpenseNetOfAmortizationOfDeferredIncentive
6700000
CY2018Q2 gogo Interest Cost Including Capitalized Interest Cost
InterestCostIncludingCapitalizedInterestCost
30719000

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