Gogo Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Gogo Inc. has submitted its 2023 annual report (10-K), providing a comprehensive overview of its financial performance and business activities.</b>

AI Summary

Gogo Inc. (GOGO) filed a Annual Report (10-K) with the SEC on February 28, 2024. Gogo Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period ending December 31, 2023, and was filed on February 28, 2024. The company's principal business address is 105 Edgeview Dr., Suite 300, Broomfield, CO 80021. Gogo Inc. is classified under SIC code 4899 (Communication Services, NEC). The report details financial information and business operations for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking Gogo Inc., this filing contains several important signals. This 10-K filing provides stakeholders with detailed financial statements, risk factors, and management's discussion and analysis, crucial for understanding the company's performance and outlook. The report's comprehensive nature allows investors and analysts to assess Gogo's operational efficiency, financial health, and strategic direction for the past fiscal year.

Risk Assessment

Risk Level: medium — Gogo Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which inherently contains detailed financial and operational information, but does not indicate any immediate or severe negative events. The risk is medium due to the nature of public company filings which can reveal various business risks.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess Gogo Inc.'s financial health and future prospects.

Key Numbers

• 20231231 — Fiscal Year End (The report covers the fiscal year ending on this date.)
• 20240228 — Filing Date (The date the 10-K was filed with the SEC.)
• 127 — Public Document Count (Number of documents included in the filing.)

Key Players & Entities

• Gogo Inc. (company) — Filer of the 10-K report
• 20231231 (date) — Fiscal year end date
• 20240228 (date) — Filing date of the report
• 105 Edgeview Dr., Suite 300, Broomfield, CO 80021 (address) — Company's business and mailing address
• 4899 (industry_code) — Standard Industrial Classification code

FAQ

Industry Context

Gogo Inc. operates in the communication services sector, providing in-flight internet services for the aviation industry.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the financial statements for revenue trends and profitability.
2. Review the risk factors section for potential business challenges.
3. Examine management's discussion and analysis for strategic insights.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending December 31, 2023. No prior filing data for comparison is available in this extract.

Key Financial Figures

• $0.0001 — ch Registered Common stock, par value $0.0001 per share GOGO NASDAQ Global Select

Filing Documents

• gogo-20231231.htm (10-K) — 4016KB
• gogo-ex4_3.htm (EX-4.3) — 41KB
• gogo-ex21_1.htm (EX-21.1) — 16KB
• gogo-ex23_1.htm (EX-23.1) — 4KB
• gogo-ex31_1.htm (EX-31.1) — 15KB
• gogo-ex31_2.htm (EX-31.2) — 15KB
• gogo-ex32_1.htm (EX-32.1) — 8KB
• gogo-ex32_2.htm (EX-32.2) — 8KB
• gogo-ex97_1.htm (EX-97.1) — 19KB
• img234861339_0.jpg (GRAPHIC) — 2KB
• img234861339_1.jpg (GRAPHIC) — 234KB
• 0000950170-24-022040.txt (&nbsp;) — 18641KB
• gogo-20231231.xsd (EX-101.SCH) — 2496KB
• gogo-20231231_htm.xml (XML) — 3754KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 14 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 34 Item 2.

Properties

Properties 35 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosures 35 Part II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 36 Item 6. Reserved 37 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 54 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 88 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 88 Part III. Item 10. Directors, Executive Officers and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions, and Director Independence 91 Item 14. Principal Accounting Fees and Services 91 Part IV. Item 15. Exhibits, Financial Statement Schedules 92 Item 16. Form 10-K Summary 96 1 INTRODUCTO RY NOTE Unless the context otherwise indicates or requires, as used in this Annual Report on Form 10-K for the fiscal year ended December 31, 2023, references to: (i) "we," "us," "our," "Gogo," or the "Company" refer to Gogo Inc. and its directly and indirectly owned subsidiaries as a combined entity, except where otherwise stated or where it is clear that the term means only Gogo Inc. exclusive of its subsidiaries; and (ii) "fiscal," when used in reference to any twelve-month period ended December 31, refers to our fiscal year ended December 31. Unless otherwise indicated, information contained in this Annual Report on Form 10-K is as of December 31, 2023. We have made rounding adjustments to reach some of the figures included in this Annual Report on Form 10-K and, unless otherwise indicated, percentages presented in this Annual Report on Form 10-K are approximate. Cautionary Note Regarding Forward-Looking Statements and Risk Factor Summary Certain statements in this Annual Report on Form 10-K may constitute "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 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

Business

Item 1. Business Company Overview and Strategy Our Mission and our Industry's Evolution Gogo is the world's largest provider of broadband connectivity services for the business aviation market. We have served this market for more than 25 years. Our mission is to enrich the lives of passengers and the efficiency of operators with the world's best business aviation in-flight connectivity and customer support. We have always sought to provide the best connectivity for the business aviation market regardless of technology, and we have a successful history of doing so. Until recently, we focused primarily on business aviation aircraft in North America, which comprise approximately 63% of the worldwide business aviation fleet, and we are the leading provider of in-flight connectivity in that market. Gogo started in analogue air-to-ground ("ATG") technology in the late 1990s, then, as analogue cellular backhaul disappeared, migrated to narrowband satellite connectivity in the early 2000s, then back to ATG with our digital broadband 3G and 4G networks beginning in 2010. We expect to commercially launch our fourth ATG network – Gogo 5G – in the fourth quarter of 2024. Simultaneous with the development of Gogo 5G, we are actively working with a subset of AVANCE customers and customers utilizing our legacy Gogo Biz ATG airborne system operating on our ground 3G and 4G networks to transition to an AVANCE system compatible with a new LTE network. We anticipate this subset of customers will see improved performance because of this network transition, which is expected to occur in early 2026. The cost for the transition to the new LTE network is partially offset given our participation in the FCC Secure and Trusted Communications Networks Reimbursement Program (the "FCC Reimbursement Program"). We also continue to provide narrowband satellite services to customers in North America and internationally through distribution agreements with satellite providers. As of December

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View this 10-K filing on SEC EDGAR