Gogo Inc. Files Q3 2024 10-Q
Ticker: GOGO · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1537054
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Gogo's Q3 10-Q is in - check financials for latest operational status.
AI Summary
Gogo Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates. Key financial data points and disclosures related to their business operations are presented, including information on liabilities and assets.
Why It Matters
This filing provides investors and stakeholders with an update on Gogo Inc.'s financial health and operational status as of the end of the third quarter of 2024.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks related to the company's performance and market conditions.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the specific date for which financial information is reported.)
- 2024-11-05 — Filing Date (The date the report was officially submitted to the SEC.)
- 2023-12-31 — Previous Year End Date (Provides a comparative point for financial analysis.)
Key Players & Entities
- Gogo Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-05 (date) — Filing date
- Federal Communications Commission (company) — Mentioned in relation to a reimbursement program
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 5, 2024.
What is Gogo Inc.'s fiscal year end?
Gogo Inc.'s fiscal year ends on December 31.
What is the company's primary SIC code?
The company's primary SIC code is 4899, categorized under COMMUNICATION SERVICES, NEC.
Is there any mention of specific FCC programs?
Yes, the filing mentions the 'FccReimbursementProgram' in relation to the date 2024-09-30.
Filing Stats: 4,392 words · 18 min read · ~15 pages · Grade level 19.8 · Accepted 2024-11-05 16:14:13
Key Financial Figures
- $0.0001 — ch Registered Common stock, par value $0.0001 per share GOGO NASDAQ Global Select
Filing Documents
- gogo-20240930.htm (10-Q) — 2651KB
- gogo-ex10_1.htm (EX-10.1) — 502KB
- gogo-ex31_1.htm (EX-31.1) — 13KB
- gogo-ex31_2.htm (EX-31.2) — 13KB
- gogo-ex32_1.htm (EX-32.1) — 9KB
- gogo-ex32_2.htm (EX-32.2) — 9KB
- img235761795_0.jpg (GRAPHIC) — 9KB
- 0000950170-24-121474.txt ( ) — 11545KB
- gogo-20240930.xsd (EX-101.SCH) — 1632KB
- gogo-20240930_htm.xml (XML) — 2033KB
Financial Statements
Financial Statements 2 Unaudited Condensed Consolidated Balance Sheets 2 Unaudited Condensed Consolidated Statements of Operations 3 Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) 4 Unaudited Condensed Consolidated Statements of Cash Flows 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity 6 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 38 Part II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42
FINANC IAL INFORMATION
PART I. FINANC IAL INFORMATION
FINANC IAL STATEMENTS
ITEM 1. FINANC IAL STATEMENTS Gogo Inc. and Subsidiaries Unaudited Condensed Cons olidated Balance Sheets (in thousands, except share and per share data) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 176,678 $ 139,036 Accounts receivable, net of allowances of $ 2,807 and $ 2,091 , respectively 45,875 48,233 Inventories 74,848 63,187 Prepaid expenses and other current assets 50,013 64,138 Total current assets 347,414 314,594 Non-current assets: Property and equipment, net 93,830 98,129 Intangible assets, net 64,888 55,647 Operating lease right-of-use assets 67,171 70,552 Investment in convertible note 3,761 — Other non-current assets, net of allowances of $ 720 and $ 591 , respectively 24,229 25,979 Deferred income taxes 209,444 216,638 Total non-current assets 463,323 466,945 Total assets $ 810,737 $ 781,539 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 26,445 $ 16,094 Accrued liabilities 61,476 47,649 Deferred revenue 1,843 1,003 Current portion of long-term debt 7,250 7,250 Total current liabilities 97,014 71,996 Non-current liabilities: Long-term debt 583,864 587,501 Non-current operating lease liabilities 68,005 73,047 Other non-current liabilities 9,130 8,270 Total non-current liabilities 660,999 668,818 Total liabilities 758,013 740,814 Commitments and contingencies (Note 15) Stockholders' equity Common stock, par value $ 0.0001 per share; 500,000,000 shares authorized at September 30, 2024 and December 31, 2023; 138,949,113 and 137,632,284 shares issued at September 30, 2024 and December 31, 2023, respectively; and 126,140,650 and 128,462,343 shares outstanding at September 30, 2024 and December 31, 2023, respectively 14 14 Additional paid-in capital 1,413,842 1,402,003 Accumulated other comprehen