Gogo, which provides in-flight Wi-Fi, said its revenue was up 46% year-over-year to $92.6 million in the fourth quarter, although the company still posted a net loss of $22.1 million.
Its net loss narrowed from $36 million during the fourth quarter of last year. However, its net loss for the full year increased from 2012. For the full year, Gogo’s revenue was up 41% over 2012, with a net loss of $145.9 million compared to a net loss of $95.6 million.
Michael Small, president and CEO of Gogo, said that he was pleased with the company’s financial and operating performance and that it continued to see strong demand for its connectivity services. Gogo has its technologies, both air-to-ground broadband and satellite, installed on nearly 10,000 aircraft.
Service revenues were up 44% to $69.7 million and equipment revenues increased 52% year-over-year to $22.9 million.
In North America, the company had 2,032 commercial aircraft online, an increase of 12% over the previous quarter. Its average monthly service revenue per aircraft, a metric which the company calls ARPA, was up 21% year-over-year to $8,970. Commercial aircraft revenue in North America was up 41% from the same period last year.
In business aviation, the company had 2,047 air-to-ground systems online at the end of the fourth quarter, an increase of 41% from the previous quarter. Satellite systems were at nearly 5,200. Service revenue in that segment was up 50% from the same period in 2012 to $15 million, and equipment revenue was up 54% year-over-year to $22.1 million. Segment profit for business aviation was up 91% year-over-year to $16.1 million.
However, increased satellite transponder and teleport fees to build a global satellite network increase the company’s segment loss for commercial aviation outside of North America from $4.8 million in the fourth quarter of 2012 to $14.4 million in the same period of 2013.
Gogo went public in June of 2013.
