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.
Ernest Woods – Category – Earnings
Ernest Woods a blogger and press writer, has worked on topics like earnings reports, hot stocks and market news. He is an experienced professional with 10+ years in research, analysis and reporting. He enjoys taking complex ideas and translating them into content aimed at the general public. He has personal interests in health, fitness, animal care, gardening, travel, world politics, and current social issues, but always willing to learn something new. Ernest Woods has a Masters in Applied Finance and Investment. He specializes in income trading using options, is very conservative in his style and believes patience in waiting for the best setups is the key to successful trading. He covers articles for Earnings category.
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