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Gogo (GOGO) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Gogo (GOGO) Q3 2026 earnings results →

Q3 2026 Revenue down 5% year over year to $213M · 2¢ of every $1 of revenue lost · operating margin 8.0%

Gogo made $213M in Q3 2026 (-5% Y/Y): Service $183M, Equipment $30.5M. Operating margin 8.0%, net loss $3.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$213M
Year over year-5%
Operating margin8.0%
Net earnings−$3.2M
Operating cash flow$26.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $213.2M in Q3 2026, down 5% year over year and down 4% from the previous quarter. Service was the largest line at 86% of revenue. Service lost $7.2M year over year (down 4%), 70% of the total change.

Operating profit was $17.2M, a 8.0% margin (down 4.8 points year over year). Total costs grew 1% against a revenue fall of 5%. The quarter ended with a net loss of $3.2M, wider than the previous quarter's $2.0M loss. Net interest and other expense of $23.8M was the main reason.

Operating cash flow was $26.3M (down 44% year over year). Non-cash charges added back $16.5M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items added $8.0M. Capital expenditures of $3.6M left free cash flow of $22.7M.

Quarterly history

Gogo revenue by quarterGogo revenue by quarter$230MQ1 2025$226MQ2 2025$224MQ3 2025$231MQ4 2025$226MQ1 2026$223MQ2 2026$213MQ3 2026
Gogo net earnings by quarterGogo net earnings by quarter$12.0MQ1 2025$12.8MQ2 2025−$1.9MQ3 2025−$10.0MQ4 2025$13.1MQ1 2026−$2.0MQ2 2026−$3.2MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$213M-5%8.0%−$3.2M$26.3M
Q2 202610-QAug 6, 2026$223M-1%13.3%−$2.0M$32.3M
Q1 202610-QMay 7, 2026$226M-2%14.0%$13.1M−$7.2M
Q4 202510-KFeb 27, 2026$231M+67%6.2%−$10.0M$8.5M
Q3 202510-QNov 6, 2025$224M+122%12.9%−$1.9M$46.8M
Q2 202510-QAug 7, 2025$226M+122%15.9%$12.8M$36.7M
Q1 202510-QMay 9, 2025$230M+121%15.3%$12.0M$32.5M

Charts

Gogo: revenue growth, year over year and quarter over quarterGogo: revenue growth, year over year and quarter over quarterY/YQ/Q+121%Q1 2025+122%-2%Q2 2025+122%-1%Q3 2025+67%+3%Q4 2025-2%-2%Q1 2026-1%-2%Q2 2026-5%-4%Q3 2026
Latest (Q3 2026): Y/Y -5%, Q/Q -4%.
Gogo: where the cash came from (+) and went (−), TTM to Q3 2026Gogo: where the cash came from (+) and went (−), TTM to Q3 2026Capital spending−$72.8MOther financing−$65.3MOperating cash flow$59.9MCash drawn (+) / kept (−)$42.9MOther investing$35.6MExchange rates−$163KNet borrowing (+) / repaid (−)−$57K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Gogo: profit against cash, quarter by quarterGogo: profit against cash, quarter by quarterNet incomeOperating cash flow−$28.2M−$38.3MQ4 2024$12.0M$32.5MQ1 2025$12.8M$36.7MQ2 2025−$1.9M$46.8MQ3 2025−$10.0M$8.5MQ4 2025$13.1M−$7.2MQ1 2026−$2.0M$32.3MQ2 2026−$3.2M$26.3MQ3 2026
Latest (Q3 2026): Net income −$3.2M, Operating cash flow $26.3M.
Gogo: diluted shares by fiscal yearGogo: diluted shares by fiscal year0MFY20200MFY20210MFY20220MFY20230MFY20240MFY2025
+66.0% since FY2020: more shares outstanding (issuance, stock pay).
Gogo in its industry: growth against margin (14 companies, SIC 4899)Gogo in its industry: growth against margin (14 companies, SIC 4899)revenue growth, year over year →↑ operating marginmedian -4%median -3%VSATECHOCALXIRDMCCOIGSATKVHIASTSBZFDSPIRELWTOBAIKTELGOGO (-5%, 8%)
Communications Services, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Gogo

Gogo Inc. (“Gogo”, the “Company”, “we” or “us”) is the only multi-orbit, multi-band in-flight connectivity provider offering connectivity technology purpose-built for business and military/government aviation. We have a holistic approach of providing broadband connectivity services to our customers from small to large aircraft and heavy jets through our air-to-ground (“ATG”) technology and integrated low earth orbit (“LEO”) and geostationary earth orbit (“GEO”) satellite solutions provided by multiple satellite constellations owned by our satellite network partners. We aim to deliver to our customers consistent, global tip-to-tail connectivity with a suite of software, hardware, and advanced infrastructure supported by a 24/7/365 in-person customer support team to fit their every need.

In its own words, from its 10-K, filed Feb 27, 2026.

Gogo against its Communications Services, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -5% against the peers' median +3%. Operating margin: 8.0% against the peers' median 5.5%.

CompanyQuarterRevenueY/YOp. margin
GOGO GogoQ3 2026$213M-5%8.0%
VSAT ViasatQ2 FY27$1.2B+3%0.6%
ECHO EchoStarQ3 2026$1.1B-69%13.1%
CALX CalixQ3 2026$302M+14%5.5%
IRDM Iridium CommunicationsQ3 2026$246M+8%12.9%
CCOI Cogent Communications HoldingsQ3 2026$231M-4%-3.0%
GSAT GlobalstarQ3 2026$70.9M-4%10.7%
KVHI KVH IndustriesQ3 2026$38.4M+35%-3.2%
ASTS AST SpaceMobileQ2 2026$31.5M27×-948.0%

Source: Gogo 10-Q on SEC EDGAR · CIK 1537054 · Communications Services, NEC

Guidance and outlook

Gogo: what its forward-looking statements are about (10-Q filed 2026-11-06)Gogo: what its forward-looking statements are about (10-Q filed 2026-11-06)Demand7Other4Costs3The economy3Buybacks & dividends2Financing1Capital spending1
21 statements; tone -0.14 (−1 all cautious, +1 all confident); 3 hedged.
Gogo: outlook statements against the filing beforeGogo: outlook statements against the filing beforeConfident3Cautious6

13F: who owns GOGO and who is buying

Largest holders of GOGO (13F)Largest holders of GOGO (13F)Gtcr LLC$72.0MNantahala Capital Management, LLC$53.9MVanguard Group$30.7MBlackRock$19.0MBank of America$16.0MVanguard Capital Management LLC$11.0MState Street$10.3MQube Research & Technologies$9.7MCapco Asset Management, LLC$8.7MCitadel Advisors LLC$8.0M
Funds' net buying of GOGO by quarter (13F)Funds' net buying of GOGO by quarter (13F)−$8.0M2024-09$61.5M2024-12$68.0M2025-03−$94.5M2025-06$17.8M2025-09−$35.7M2025-12−$6.8M2026-03$12.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on GOGO

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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