Is It Time To Review Stock News? Gogo (NASDAQ:GOGO)

Gogo (NASDAQ: GOGO), stock identified change of 73.11% away from 52-week low price and recently located move of -41.56% off 52-week high price. It has market worth of $407.1M. GOGO stock has been recorded 5.36% away from 50 day moving average and 0.50% away from 200 day moving average. Moving closer, we can see that shares have been trading 8.54% off 20-day moving average.

On Aug. 8, 2019, Gogo (NASDAQ:GOGO) the leading global provider of broadband connectivity products and services for aviation,notified its financial results for the quarter ended June 30, 2019.

Highlights for Q2 2019

  • Consolidated service revenue of more than $173 million, up more than 9% from Q2 2018
  • Net loss of $84 million, which includes a $58 million loss on extinguishment of debt due to the $925 million debt refinancing
  • Adjusted EBITDA (1) of $37.8 million, up from $18.9 million in Q2 2018
  • Combined segment profit from CA-NA and CA-ROW of $6.9 million, up from a combined segment loss of $17 million in Q2 2018
  • Total Aircraft Online for Commercial Aviation of 3,134, up 81 from Q1 2019
  • Cash Flow from Operating Activities of $11.7 million; Unlevered Free Cash Flow (1) of positive $36 million, up $73 million from negative $37 million in Q2 2018
  • Renewal of our 2Ku agreement with American Airlines and our commercial relationship with T-Mobile
  • In May, Delta Airlines conducted a two-week trial of free Wi-Fi on 55 domestic 2Ku daily flights as part of Delta’s evaluation of offering free Wi-Fi to passengers

Second Quarter 2019 Consolidated Results

  • Gogo completed a $925 million debt refinancing to lower borrowing costs and extend debt maturities, including the repurchase of $159 million of the Company’s 3.75% convertible senior notes due 2020.
  • Consolidated revenue totaled $213.7 million.
  • Service revenue grew in all three segments to a consolidated $173.7 million, an increase of more than 9% from Q2 2018.
  • After excluding the $58 million loss on extinguishment of debt, net loss of $84 million would have been $26 million, an improvement of 30% year-over-year.
  • Adjusted EBITDA was $37.8 million as compared with $18.9 million in Q2 2018, driven primarily by strong service revenue growth and lower operating expenses.
  • Free Cash Flow (1) in Q2 2019 was negative $3 million, an improvement from negative $35 million in the prior-year period. In the first half of 2019, Free Cash Flow was negative $37 million, an improvement from negative $144 million in the prior-year period.
  • Cash and cash equivalents were $182 million as of June 30, 2019 as compared with $189 million as of March 31, 2019, and reflects $40 million of interest payments made in Q2 2019.
  • 2Ku aircraft online reached 1,216 as of June 30, 2019, an increase of 109 aircraft in Q2 2019. Gogo had a 2Ku backlog of approximately 900 aircraft as of June 30, 2019.(2)

The Technology sector company, Gogo Inc. noticed change of 18.39% to $4.57 along volume of 3563648 shares in recent session compared to an average volume of 1482.23K. The stock observed return of 9.33% in 5 days trading activity. The stock was at 5.79% over one month performance. GOGO’s shares are at -11.43% for the quarter and driving a 19.01% return over the course of the past year and is now at 52.84% since this point in 2018.

The average volatility for the week at 6.81% and for month was at 4.77%. There are 89.08M shares outstanding and 54.44M shares are floated in market. Right now the stock beta is 0.95.


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