BROOMFIELD, Colo. – Gogo Inc. (NASDAQ: GOGO) (“Gogo” or the “Company”), a leading global provider of broadband connectivity services for the business and military/government aviation markets, today announced its financial results for the quarter ended June 30, 2026. 

"Our second quarter results show continued momentum in Gogo’s transformation into a global provider of high-speed broadband to the business and military/government aviation markets,” said Chris Moore, CEO of Gogo. “Our military and government business delivered a record quarter, with service revenue up 40% year over year, driven by ongoing demand for secure airborne connectivity, providing a durable revenue base. Our next-generation product transition is well under way, which we expect to be driven by the continued scaling of Galileo and 5G."

Zac Cotner, CFO of Gogo, commented, “Our second quarter financial results came in line with our expectations, supported by a particularly strong performance with our military and government customers. We continue to see expansion across that customer segment, which grew 20% sequentially and will continue to be both a stabilizer and growth engine for the future. Our results reflect disciplined execution across the business, which along with debt reduction, remain our highest financial priorities over the next several quarters.”

Q2 2026 Financial Highlights

• Total revenue of $222.8 million decreased 1% compared to Q2 2025 and 2% compared to Q1 2026.
  Equipment Revenue
  • Equipment revenue of $31.5 million decreased 2% compared to Q2 2025 and 18% compared to Q1 2026.
  • Q2 equipment units shipped for Gogo Galileo, Gogo's new cutting-edge Low Earth Orbit ("LEO") satellite broadband service, totaled 108, up 17% compared to Q1 2026. Cumulative Gogo Galileo equipment shipments reached 518 units.
  • Total ATG equipment units sold in Q2 2026 totaled 297, down 27% compared to Q2 2025 and 42% compared to Q1 2026.
    • Gogo 5G unit shipments continue to ramp, with 138 units sold in Q2 2026, up from 52 units sold in Q1 2026.
  • Service Revenue
  • Service revenue of $191.3 million decreased 1% compared to Q2 2025 and increased 2% compared to Q1 2026.
    • Business aviation service revenue of $151.3 million decreased 8% compared to Q2 2025 and 2% compared to Q1 2026.
    • Military / Government service revenue of $39.9 million increased 40% compared to Q2 2025 and 20% compared to Q1 2026.
• Aircraft online ("AOL") as of June 30, 2026:
  • Total ATG AOL2 of 5,731 decreased 15% versus Q2 2025 and 6% versus Q1 2026.
    • ATG AVANCE AOL of 4,603 decreased 4% compared to June 30, 2025 and decreased 5% compared to March 31, 2026.
    • ATG C-1 AOL of 690 increased 24% from 557 as of March 31, 2026.
  • Broadband GEO AOL of 1,306 decreased 1% compared to June 30, 2025 and was flat compared to March 31, 2026.
  • Gogo Galileo AOL of 184 increased 66% from 111 as of March 31, 2026.
• Net Income (loss) for the quarter was ($2.0) million, compared to $12.8 million in Q2 2025 and $13.1 million in Q1 2026.
• Adjusted EBITDA1 of $53.7 million decreased 13% compared to Q2 2025 and increased approximately 1% compared to Q1 2026. Adjusted EBITDA includes $3.2 million of expense incurred in the quarter for ongoing litigation matters.
• Net cash provided by (used in) operating activities was $32.3 million in Q2 2026, down from $36.7 million in Q2 2025 and up from $(7.2) million in Q1 2026.
• Free Cash Flow1 of $21.6 million in Q2 2026 was down from $33.5 million in Q2 2025 and up from $(19.2) million in Q1 2026.
• Cash and cash equivalents was $63.1 million as of June 30, 2026, compared to $103.5 million as of March 31, 2026 and $102.1 million as of June 30, 2025. During Q2 2026, the Company made a $40.0 million earn-out payment related to the company’s earlier purchase of Satcom Direct and a $21.1 million principal payment on the HPS term loan facility, both of which are excluded from Free Cash Flow.

Recent Developments

• Galileo HDX has earned FAA and EASA certification via Dassault Falcon Jet for installation on Falcon 7X and 8X aircraft, expanding global, high-speed LEO connectivity paired with Gogo's robust cybersecurity protections to these leading long-range business jets.
• Gogo secured a $7.5 million multi-year contract with NOAA’s Aircraft Operations Center to provide mission-critical SATCOM, cybersecurity and cockpit datalink software for the "Hurricane Hunter" research fleet.
• Airshare is equipping its Embraer Phenom 300 fleet with Gogo Galileo HDX and AVANCE L5 to provide high-speed, multi-device streaming and video conferencing for passengers and crew. Gogo Galileo HDX remains the only line-fit option for the Phenom 300, one of the most popular light jets on the market.
• SD Government, a subsidiary of Gogo, Pilatus, and Pro Star Aviation achieved FAA Supplemental Type Certificates ("STC") approval to install Gogo Galileo HDX on Pilatus PC-12 turboprops, delivering high-speed LEO internet for special missions, defense, MEDEVAC and private operators globally.
• Gulfstream received STC certification for all tail-mounted Gogo Galileo HDX installations on G650 and G650ER aircraft, both leading large-cabin jets.
• Gogo anticipates beginning HDX and 5G demonstrations for the Pilatus PC-24, a leading light business jet. The HDX demonstrations are tentatively scheduled to start in mid-August and the 5G in late October.

Updates 2026 Financial Guidance

Gogo is updating its financial guidance previously provided in May.

• Total revenue in the range of $870 million to $895 million, split ~84% service revenue and ~16% equipment revenue.
• Adjusted EBITDA1 in the range of $175 million to $185 million, which includes $5 million in strategic investments and $22 million of ongoing litigation expense, up from $8 million of litigation expense included in the prior guidance.
• Free Cash Flow1 in the range of $65 million to $85 million, including the aforementioned updated expense for ongoing litigation and $30 million slated for strategic investments in 2026, net of any FCC reimbursement.
• Net capital expenditures of $20 million. This assumes $45 million in reimbursement from the FCC Reimbursement Program.

1 See "Non-GAAP Financial Measures" below.
2 See "Key Business Metrics" below.

Conference Call

The Company will host its second quarter conference call on August 6, 2026 at 8:30 a.m. ET. A live webcast of the conference call, as well as a replay, will be available online on the Investor Relations section of the Company’s investor website at https://ir.gogoair.com.

Q2 Earnings Call Webcast Link: https://edge.media-server.com/mmc/p/czisjqz9

Participants can use the below link to retrieve your unique conference ID to use to access the conference call.

https://register-conf.media-server.com/register/BIc1371241a7b64561b1ebf76042a13f3b

Non-GAAP Financial Measures

We report certain non-GAAP financial measurements, including Adjusted EBITDA and Free Cash Flow in the discussion above. Management uses Adjusted EBITDA and Free Cash Flow for business planning purposes, including managing our business against internally projected results of operations and measuring our performance and liquidity. These supplemental performance measures also provide another basis for comparing period-to-period results by excluding potential differences caused by non-operational and unusual or non-recurring items. These supplemental performance measurements may vary from and may not be comparable to similarly titled measures used by other companies. Adjusted EBITDA and Free Cash Flow are not recognized measurements under accounting principles generally accepted in the United States, or GAAP. When analyzing our performance with Adjusted EBITDA or liquidity with Free Cash Flow, as applicable, investors should (i) evaluate each adjustment in our reconciliation to the corresponding GAAP measure, and the explanatory footnotes regarding those adjustments, (ii) use Adjusted EBITDA in addition to, and not as an alternative to, net income (loss) attributable to common stock as a measure of operating results, and (iii) use Free Cash Flow in addition to, and not as an alternative to, consolidated net cash provided by (used in) operating activities when evaluating our liquidity. No reconciliation of the forecasted amounts of Adjusted EBITDA for fiscal 2026 is included in this release because we are unable to quantify certain amounts that would be required to be included in the corresponding GAAP measure without unreasonable efforts, due to high variability and complexity with respect to estimating certain forward-looking amounts, and we are therefore unable to estimate the probable significance of such amounts. We believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors.

Key Business Metrics

Our management regularly reviews financial and business metrics, including the key business metrics in this press release under "Supplemental Information - Key Business Metrics," to evaluate the performance of our business and our success in executing our business plan, make decisions regarding resource allocation and corporate strategies, and evaluate forward-looking projections. Certain of these business metrics may be added, removed or updated from time to time as our business evolves.

Cautionary Note Regarding Forward-Looking Statements

Certain disclosures in this press release and related comments by our management include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our business outlook, industry, business strategy, plans, goals and expectations concerning our market position, international expansion, future technologies, future operations, margins, profitability, future efficiencies, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release. Forward-looking statements are based on our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: our ability to continue to generate revenue from the provision of our connectivity and other service offerings; our development and fixed-price contracts; our reliance on our key OEMs and dealers for equipment sales; our dependence on single-source, third party satellite network providers; the impact of competition; our ability to maintain high-quality customer support; our reliance on third parties for equipment components and services; our participation in U.S. government contracts; our participation in non-U.S. government contracts; the finite useful life of satellites; the impact of global supply chain and logistics issues, tariffs and inflationary trends; the continued expansion of our business outside of the United States and its impact of such expansion on our corporate culture; foreign currency risk; our ability to recruit, train and retain highly skilled employees, and the loss of any key personnel; the impact of pandemics or other outbreaks of contagious diseases, and the measures implemented to combat them; the impact of adverse economic conditions and geopolitical instability; our ability to fully utilize portions of our deferred tax assets; the impact of climate change and other sustainability-related matters; our ability to evaluate or pursue strategic opportunities; our recently-deployed Gogo 5G and Gogo Galileo services may not compete well in  the market or face problems relating to implementation;  our ability to innovate next-generation technologies and provide products and services useful to our customers and passengers without delay in developing or deploying such technologies, products and services; our ability to maintain our rights to use our licensed 4Mhz of ATG spectrum in the United States and obtain rights to additional spectrum if needed; the impact of service interruptions or delays, cybersecurity incidents, technology failures, equipment damage or system disruptions or failures; the impact of assertions by third parties of infringement, misappropriation or other violations; our ability to protect our intellectual property rights; risks associated with the use of artificial intelligence in our products and services; the impact of our use of open-source software; the impact of equipment failure or material defects or errors in our software; our ability to comply with applicable foreign ownership limitations; the impact of government regulation of communication networks, and the internet; our possession and use of personal information; risks associated with participation in the FCC Reimbursement Program; our ability to comply with anti-bribery, anti-corruption and anti-money laundering laws; the extent of expenses, liabilities or business disruptions resulting from litigation; the impact of the distribution of income among various jurisdictions in which we operate as well as changes in tax law or regulation on our U.S. and non-U.S. tax liabilities; the impact of changes in laws and regulations on U.S. government contractors; the impact of our substantial indebtedness; our ability to obtain additional financing to refinance or repay our existing indebtedness; the impact of restrictions and limitations in the agreements and instruments governing our debt; the impact of increases in interest rates; the impact of a substantial portion of our indebtedness being secured by substantially all of our assets; the impact of a substantial change in rating assigned by a rating agency; the volatility of our stock price; our ability to fully utilize our tax losses; the dilutive impact of potential future stock issuances; the impact of our stockholder concentration; our ability to fulfill the obligations of being  a public company; the impact of an identified material weakness in our internal controls; the impact of certain provisions of our charter, bylaws, and Delaware law; and other factors listed under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026 and in our subsequent quarterly reports on Form 10-Q as filed with the SEC.

Any one of these factors or a combination of these factors could materially affect our financial condition or future results of operations and could influence whether any forward-looking statements contained in this report ultimately prove to be accurate. Our forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

About Gogo

Gogo is the only multi-orbit, multi-band in-flight connectivity provider offering connectivity technology purpose-built for business and military/government mobility aviation. Its industry-leading product portfolio offers best-in-class solutions for all aircraft types, from small to large and heavy jets and beyond.

The Gogo offering uniquely incorporates Air-to-Ground technology and access to multiple satellite constellations to deliver consistent, global tip-to-tail connectivity through a sophisticated suite of software, hardware, and advanced infrastructure supported by a 24/7/365 in person customer support team.

Gogo consistently strives to set new standards for reliability, security and innovation and is shaping the future of inflight aviation to make it easier for every customer to stay connected.