Gogo Revises FY23 Revenue To $410M-$420M From $440M-$455M (Vs. $439.01M Est.) and Long-Term Revenue Target
Portfolio Pulse from Benzinga Newsdesk
Gogo has revised its FY23 revenue guidance to $410M-$420M from $440M-$455M, citing the impact of the Federal Communications Commission's Secure and Trusted Communications Networks Reimbursement Program. The company's long-term revenue target has also been adjusted, with revenue growth expected at a CAGR of 15%-17% from 2022 through 2027, down from the prior target of 17%. Adjusted EBITDA and Free Cash Flow targets remain unchanged.
August 07, 2023 | 11:09 am
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NEGATIVE IMPACT
Gogo's revised FY23 revenue guidance and long-term revenue growth target could potentially impact investor sentiment and the company's stock price.
The downward revision of Gogo's FY23 revenue guidance and long-term growth target indicates potential challenges in the company's financial performance. This could negatively impact investor sentiment and lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100