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Gogo

Gogo Inc is a broadband connectivity service for the business aviation market. It provides a customizable suite of smart cabin systems for integrated connectivity, inflight entertainment, and voice solutions. Its business segment includes Business Aviation. It generates two types of revenue: service revenue consists of monthly subscription and usage fees paid by aircraft owners and operators for telecommunication, data, and in-flight entertainment services. and equipment revenue consists of proceeds from the sale of ATG and narrowband satellite connectivity equipment and is recognized when control of the equipment is transferred to OEMs and dealers, which generally occurs when the equipment is shipped.

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Trading Halt: Halt status updated at 7:25:00 AM ET: Quotation Resumption: News and Resumption Times

Under the terms of the agreement, Satcom Direct will receive&nbsp;$375 million&nbsp;in cash and five million shares of Gogo stock at closing, and up to an additional&nbsp;$225 million&nbsp;in payments tied to realizing certain performance thresholds over the next four years.
In 2024, Satcom Direct is expected to generate approximately&nbsp;$485 million&nbsp;in revenue with EBITDA margins of approximately&nbsp;17%&nbsp;on a pro forma adjusted basis.&nbsp;
The transaction is expected to be immediately accretive to earnings and free cash flow per share and is expected to generate&nbsp;$25-30 million in annual run-rate cost synergies in the two years following closing.&nbsp;

News

Gogo Agrees To Acquire Satcom Direct For $375M In Cash, And 5M Shares Of Gogo Stock At Closing; Agreement Also Provides For Potential Additional Consideration

Trading Halt: Halted at 6:56:53 a.m. ET - Trading Halt: Halt News Pending

<h3>Gainers</h3>
<ul>
<li>RDE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIFT#NASDAQ">GIFT</a>) shares increased by 18.1% to $2.28 during Friday's after-market session. The company's market cap stands at $59.0 million. </li>
<li>Snail (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNAL#NASDAQ">SNAL</a>) stock increased by 6.03% to $0.81. The company's market cap stands at $29.9 million. </li>
<li>Baosheng Media Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAOS#NASDAQ">BAOS</a>) stock rose 4.7% to $2.67. The company's market cap stands at $4.0 million. </li>
<li>Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) stock moved upwards by 4.01% to $7.53. The market value of their outstanding shares is at $956.0 million. </li>
<li>Mega Matrix (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MPU#AMEX">MPU</a>) shares increased by 3.88% to $1.07. The company's market cap stands at $42.8 million. </li>
<li>Cheer Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHR#NASDAQ">CHR</a>) stock rose 3.16% to $2.93. The market value of their outstanding shares is at $30.1 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>9F (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JFU#NASDAQ">JFU</a>) shares declined by 7.9% to $2.12 during Friday's after-market session. The company's market cap stands at $24.9 million. </li>
<li>HWH International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWH#NASDAQ">HWH</a>) shares declined by 4.87% to $0.67. The company's market cap stands at $10.7 million. </li>
<li>Brera Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BREA#NASDAQ">BREA</a>) shares declined by 4.53% to $0.85. The market value of their outstanding shares is at $11.3 million. </li>
<li>MediaCo Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDIA#NASDAQ">MDIA</a>) stock fell 4.38% to $1.31. The market value of their outstanding shares is at $61.1 million. </li>
<li>36KR Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRKR#NASDAQ">KRKR</a>) shares decreased by 3.33% to $0.23. The company's market cap stands at $8.9 million. </li>
<li>Lytus Technologies Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYT#NASDAQ">LYT</a>) shares fell 3.15% to $1.85. The market value of their outstanding shares is at $3.4 million. 
See Also: <a href="http://www.benzinga.com/money/best-communication-services-stocks/" title="www.benzinga.com/money/best-communication-services-stocks/">www.benzinga.com/money/best-communication-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

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12 Communication Services Stocks Moving In Friday's After-Market Session

Roth MKM analyst Scott Searle maintains Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) with a Buy and maintains $15.5 price target.

Price Target

Analyst Ratings

Roth MKM Maintains Buy on Gogo, Maintains $15.5 Price Target

Gogo Business Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) and Airshare – one of the fastest-growing private aviation operators – have entered a multi-year inflight connectivity agreement that provides Airshare aircraft management clients an option to install <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4255098-1&amp;h=2889419561&amp;u=https%3A%2F%2Fwww.gogoair.com%2Favance%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_galileo%26utm_content%3Dairshare&amp;a=Gogo+AVANCE">Gogo AVANCE</a>, <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4255098-1&amp;h=1701319979&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgogo-5g%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_galileo%26utm_content%3Dairshare&amp;a=Gogo+5G">Gogo 5G</a>, and <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4255098-1&amp;h=579115343&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgalileo%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_galileo%26utm_content%3Dairshare&amp;a=Gogo+Galileo">Gogo Galileo</a>, the company's Low-Earth-Orbit (LEO) broadband satellite service.
&nbsp;
"We are focused on delivering a best-in-class experience for everyone who flies with us, whether it be for business or leisure," said John Owen, president and CEO of Airshare. "Secure, dependable connectivity has never been more essential for those flying private with us.
"We continuously explore opportunities to enhance&nbsp;Wi-Fi performance for both our Managed and Fractional fleets, and we're excited to be offering these new upgrade options from Gogo," Owen added. "Having worked together for several years we're extremely confident in their technology and customer support."
Airshare operates a nationwide fleet approaching 150 aircraft, ranging from turboprops to ultra long-range jets. Its Fractional Program offers fractional shares and jet cards for the popular Challenger 3500 and Phenom 300 aircraft, both of which are covered by Gogo's extensive Supplemental Type Certificate portfolio.
The agreement continues a long-standing partnership between Gogo and Airshare, in which 65 percent of its Phenom 300 aircraft have already been upgraded to Gogo AVANCE with plans to upgrade the remaining fleet in the next 12 months.
"This partnership is a commitment by Airshare and Gogo to bring an even better experience to&nbsp; our mutual customers in North America and beyond with our family of connectivity services," said Sergio Aguirre, Gogo's president and chief operating officer. "AVANCE delivers improved performance compared to the currently installed legacy ATG systems and was designed to provide an easy upgrade path to new technologies like Gogo 5G and Gogo Galileo."
For <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4255098-1&amp;h=579115343&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgalileo%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_galileo%26utm_content%3Dairshare&amp;a=Gogo+Galileo">Gogo Galileo</a>&nbsp;specifically, any size aircraft with an AVANCE system (L3, L5, SCS) installed can add the new global LEO service with a single fuselage-mounted antenna, available in two options (HDX or FDX) to address the specific needs of the customer and aircraft operator.
With its compact size, the HDX delivers fast, low latency performance across the full breadth of business aviation aircraft worldwide from light jets and turboprops to the largest business jets. The FDX antenna, designed in a larger form factor, offers even greater performance and three times the speeds of the HDX.

Gogo Expands Partnership with Airshare, Introducing 5G and Satellite Wi-Fi Services for Business Aviation

<a href="https://x.com/Bleecker__St/status/1834598909559157107" title="https://x.com/Bleecker__St/status/1834598909559157107">https://x.com/Bleecker__St/status/1834598909559157107</a>

Short Sellers

Trading Ideas

Bleecker Street Research Posts On X "While not infringing on $GOGO business, we still think what is good for Starlink Aviation is bad for GOGO."

U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Friday.
Shares of Adobe Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) shares declined 10.3% to $75.02 in pre-market trading after the company <a href="https://www.benzinga.com/news/earnings/24/09/40843018/adobe-reports-record-q3-revenue-eps-beats-estimates">reported quarterly results.</a>
Adobe reported better-than-expected earnings for its third quarter on Thursday. The company said it sees fourth-quarter revenue in a range of $5.5 billion to $5.55 billion and earnings of between $4.63 and $4.68 per share.
Adobe shares dipped 8.5% to $537.00 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>SelectQuote, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLQT#NYSE">SLQT</a>) fell 18.1% to $2.94 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results and issued FY25 revenue guidance below estimates.</li>
<li>Similarweb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMWB#NYSE">SMWB</a>) declined 11.2% to $8.50 in pre-market trading after the company announced the pricing of $27.475 million secondary offering of 3.5 million shares of common stock at a price of $7.85 by a selling shareholder.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) shares declined 7.5% to $7.99 in pre-market trading amid possible post-IPO volatility.</li>
<li>Atea Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVIR#NASDAQ">AVIR</a>) shares fell 7.1% to $3.4102 in pre-market trading after the company announced the outcome of the global Phase 3 SUNRISE-3 trial evaluating bemnifosbuvir for the treatment of COVID-19 and found that the trial did not meet the primary endpoint.</li>
<li>Valneva SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VALN#NASDAQ">VALN</a>) fell 6.2% to $6.51 in pre-market trading.</li>
<li>Gogo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) fell 6.1% to $7.00 in pre-market trading after declining 3% on Thursday.</li>
</ul>
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</ul>

Pre-Market Outlook

Markets

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Adobe, SelectQuote, Similarweb And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Gogo Business Aviation, In Conjunction With Duncan Aviation, Has Completed The First Installation Of Gogo Galileo HDX On A Bombardier Challenger 300 And Has Commenced Flight Testing

Morgan Stanley analyst Simon Flannery maintains Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) with a Equal-Weight and lowers the price target from $12 to $11.

Morgan Stanley Maintains Equal-Weight on Gogo, Lowers Price Target to $11

&nbsp;Gogo Business Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) today announced a partnership with Skyservice Business Aviation ("Skyservice"), a North American leader in business aviation, to develop Supplemental Type Certificates (STC) from Transport Canada Civil Aviation (TCCA) and the Federal Aviation Administration (FAA) for <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4239450-1&amp;h=3788756714&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgogo-5g%2F%3Futm_source%3Dgogo%26utm_medium%3Dpr%26utm_campaign%3DBRND_Q324_5G%26utm_content%3Dwebsite&amp;a=Gogo+5G">Gogo 5G</a>&nbsp;on six aircraft models.

Gogo Business Aviation Partners With Skyservice To Develop FAA And TCCA STCs For 5G On Six Aircraft Models

JP Morgan analyst Philip Cusick maintains Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) with a Neutral and lowers the price target from $11 to $10.

JP Morgan Maintains Neutral on Gogo, Lowers Price Target to $10

Long-term Financial Targets
<ul>
<li>Free Cash Flow&nbsp;targeting approximately&nbsp;$150 million&nbsp;in 2025, versus prior target of&nbsp;$150 million&nbsp;to&nbsp;$200 million, without the effect of the FCC Reimbursement Program.&nbsp;</li>
<li>The Company continues to expect that Gogo Galileo will contribute revenue beginning in 2025.</li>
<li>Reiterate Annual Adjusted EBITDA Margin&nbsp;reaching&nbsp;40%&nbsp;in 2028.</li>
</ul>

Guidance

Gogo Reiterates Revenue Growth At Compound Annual Growth Rate Of Approximately 15% - 17% From 2023 Through 2028

Gogo Cuts FY24 Total Revenue Forecast From $410M - $425M To $400M - $410M, Est $418.787M

Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) reported quarterly Adj earnings of $0.09 per share which beat the analyst consensus estimate of $0.07 by 28.57 percent.&nbsp;

Earnings

Earnings Beats

Gogo Q2 2024 Adj. EPS $0.09 Beats $0.07 Estimate

Gogo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) reported quarterly sales of $102.059 million which beat the analyst consensus estimate of $99.015 million by 3.07 percent. This is a 1.13 percent decrease over sales of $103.221 million the same period last year.

Gogo Q2 Sales $102.059M Beat $99.015M Estimate

<a href="https://www.bleeckerstreetresearch.com/research/gogo-gogo-coming-down-to-earth" title="https://www.bleeckerstreetresearch.com/research/gogo-gogo-coming-down-to-earth">https://www.bleeckerstreetresearch.com/research/gogo-gogo-coming-down-to-earth</a>

Watching Shares Of Gogo, Bleeker Street Research Issues Report On Co Titled "Gogo (GOGO): Coming Down To Earth"

Gogo Business Aviation Collaborates With Duncan Aviation To Pursue Supplemental Type Certificate From FAA For Gogo 5G On Bombardier Learjet 40/45/70/75 Aircraft

Gogo Business Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGO#NASDAQ">GOGO</a>) today announced it is partnering with ALAMO Engineering GmbH to develop a European Supplemental Type Certificate (STC) for the&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4176152-1&amp;h=963777950&amp;u=https%3A%2F%2Fwww.gogoair.com%2Fgalileo%2F%3Futm_source%3Dgogo%26utm_medium%3Dpressrelease%26utm_campaign%3DBRND_Q224_galileo%26utm_content%3Dweb&amp;a=Gogo+Galileo" target="_blank">Gogo Galileo</a>&nbsp;HDX antenna for Cessna Citation Latitude midsize jets.

Gogo Business Aviation Tapped ALAMO Engineering GmbH to Develop a European Supplemental Type Certificate for Gogo Galileo HDX Antenna for Cessna Citation Latitude Midsize Jets

WIIM

Gogo shares are trading higher after the company reported better-than-expected Q1 financial results.

Here is the next potential market catalyst

Gogo GAAP EPS of $0.01, revenue of $102.1M, updates FY guidance

Gogo Inc. (GOGO) Q2 2024 Earnings Call Transcript

Gogo Q2 2024: Well Positioned To Soar On Tailwinds

Warning: GOGO is at high risk of performing badly

Gogo Business Aviation and Airshare sign multi-year agreement to provide upgraded connectivity

Gogo to acquire Satcom Direct in cash and stock deal

An announcement from Gogo ( ($GOGO) ) is now available. Gogo Inc. has made a strategic move to acquire Satcom Direct, intending to become the only ...

Gogo's Strategic Acquisition of Satcom Direct to Boost Market Presence

Middle Coast Investing Q3 2024 Investor Letter: Transitions And Timing

Gogo ( ($GOGO) ) has provided an announcement. Gogo Inc., an in-flight internet and connectivity service provider, released an investor presentatio...

Gogo Outlines Strategic Focus and Galileo Launch Plans

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Press Releases

Gogo Inc. to Report Second Quarter 2024 Financial Results on August 7, 2024

Gogo Appoints Monte Koch, Chair Emeritus of the NBAA, to Board of Directors

Contracts

Gogo and Duncan Aviation Collaborate to Expand 5G STC Portfolio

Gogo Announces Second Quarter Results

Gogo and Skyservice Business Aviation Developing Extensive 5G STC Portfolio

Gogo Galileo HDX Takes Flight; First Installation Complete on Challenger 300

Gogo Business Aviation and Airshare Announce Multi-Year Agreement to Provide Upgraded Connectivity

Gogo Secures 25 STC Contracts for Gogo Galileo HDX

Gogo to Acquire Satcom Direct

Gogo Receiving Unprecedented Demand for Gogo Galileo HDX

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