GOGO Stock Gains Momentum Today: It Raises Long-Term Financial Targets

Gogo Inc (GOGO) stock is higher by 30% today after the provider of broadband services for airlines raised its long-term financial goals. However, the price is constantly gaining momentum from $12.21 to $15.86, with a market cap of 1 billion dollars. Gogo, based in Chicago, now anticipates revenue to grow at a compound annual growth rate of around 15% between 2020 and 2025, up from a previous forecast of at least 10% given on its fourth-quarter earnings call.

GOGO Stock Gains Momentum Today: It Raises Long-Term Financial TargetsThe Company expects to generate approximately $125 million in free cash flow in 2023 following its Gogo 5G network in 2022 and approximately $ 200 million in 2025 (versus a prior target of more than $100 million in 2023 with significant Free Cash Flow growth thereafter). Also, the Annual Adjusted EBITDA margin rising from 40% in 2021 to 45% in 2025. Additionally, On September 30, 2021, the Company will have a conference call with financial analysts at 8:00 a.m. ET to discuss Gogo’s strategic plans, competitive position, and growth outlook.

April Sanchez

Business and Tech Reporter