Gogo Expects 2024 Total Revenue Of $410M-$425M Vs. $423.49M Consensus; Sees Adjusted EBITDA In The Range Of $110M-$125M
Portfolio Pulse from Benzinga Newsdesk
Gogo Inc. has provided its financial guidance for 2024, expecting total revenue to be between $410M and $425M, which is in line with the consensus estimate of $423.49M. The company anticipates adjusted EBITDA to range from $110M to $125M, incorporating operating expenses for strategic initiatives like Gogo 5G and Gogo Galileo, and legal expenses from the SmartSky litigation. Free cash flow is projected to be between $20M and $40M, including $45M in reimbursements from the FCC Reimbursement Program, with capital expenditures estimated at $45M.
February 28, 2024 | 12:18 pm
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Gogo Inc. expects 2024 revenue of $410M-$425M, aligning with consensus estimates, and adjusted EBITDA of $110M-$125M. The guidance includes strategic investments and legal costs, with FCC reimbursements boosting free cash flow.
Gogo's 2024 financial guidance suggests a positive outlook, with revenue projections in line with consensus estimates and strategic investments in Gogo 5G and Gogo Galileo indicating growth potential. The inclusion of FCC reimbursements as part of the free cash flow projection adds a positive financial buffer. However, the legal expenses related to SmartSky litigation introduce some uncertainty, though this seems to be adequately accounted for in the guidance. Overall, the guidance reflects a balanced view of potential growth and challenges, likely leading to a positive short-term impact on GOGO's stock price.
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