Gogo Expects 2024 Total Revenue Of $410M-$425M Vs. $423.49M Consensus; Sees Adjusted EBITDA In The Range Of $110M-$125M

Author: Benzinga Newsdesk | February 28, 2024 08:18am

2024 Financial Guidance and Long-Term Financial Targets

The Company provides the following guidance for 2024, which includes the impact of the Federal Communications Commission's Secure and Trusted Communications Networks Reimbursement Program ("FCC Reimbursement Program").

• Total revenue in the range of $410 million to $425 million.
• Adjusted EBITDA(1) in the range of $110 million to $125 million reflecting operating expenses of approximately $40 million for strategic and operational initiatives including Gogo 5G and Gogo Galileo and $4 million in legal expenses tied to the SmartSky litigation.
• Free Cash Flow(1) in the range of $20 million to $40 million, which includes $45 million in reimbursements tied to the FCC Reimbursement Program.
• Capital expenditures of approximately $45 million including $25 million for strategic initiatives including Gogo 5G, Gogo Galileo and the LTE network build.

Posted In: GOGO