Gogo Posts Q3 Net Loss as Revenue Slips 5%, FCC Renews ATG Spectrum Licenses Through 2036

Gogo Inc. reported a third-quarter net loss of $3.2 million, or $0.02 per diluted share, as total revenue fell 5% year over year to $213.2 million and adjusted EBITDA declined 27% to $41.0 million. CEO Chris Moore characterized the results as a planned transition away from legacy air-to-ground services toward the company's newer satellite and 5G platforms.

On the same day as earnings, Gogo announced the FCC has renewed its exclusive, nationwide 800 MHz air-to-ground spectrum licenses for 10 years through 2036. The licenses are the foundation of Gogo's North American business aviation network, and Moore said the renewal opens the door to exploring growth opportunities in new markets and partnerships. Following the renewal, Gogo said it has engaged banking and other advisers to evaluate potential uses for its tower assets and exclusive ATG spectrum.

Gogo also completed an amendment and extension of its roughly $600 million original Term Loan B facility. The company set a record for Galileo satellite terminal shipments in the quarter, with 172 units shipped and 297 units online. Operating cash flow was $26.3 million for the quarter, and free cash flow came in at $28.1 million, up from $21.6 million in Q2 but below the $30.6 million reported a year earlier.

Gogo reiterated its full-year 2026 financial guidance, though it noted the forecast now assumes $35 million in FCC reimbursements, reduced from $45 million previously, as some reimbursement and related spending shifts into 2027. The company also received a six-month FCC extension and expects to complete the migration of its remaining Classic ATG customers in the first quarter of 2027. Shares of GOGO rose sharply on the news, gaining more than 66% on the day.