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Acquisition of Satcom Direct - Schedule of Components of Intangible Assets Acquired (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2025 USD ($)
Intangible Asset, Acquired, Finite-Lived [Line Items]
Estimated Fair Value	$ 213,300
Satcom Direct [Member] \| Software [Member]
Intangible Asset, Acquired, Finite-Lived [Line Items]
Weighted Average Estimated Useful Life (In Years)	8 years
Estimated Fair Value	$ 55,200
Satcom Direct [Member] \| Service Customer Relationships [Member]
Intangible Asset, Acquired, Finite-Lived [Line Items]
Weighted Average Estimated Useful Life (In Years)	5 years
Estimated Fair Value	$ 144,600
Satcom Direct [Member] \| OEM Customer Relationships [Member]
Intangible Asset, Acquired, Finite-Lived [Line Items]
Weighted Average Estimated Useful Life (In Years)	8 years
Estimated Fair Value	$ 10,300
Satcom Direct [Member] \| Tradename [Member]
Intangible Asset, Acquired, Finite-Lived [Line Items]
Weighted Average Estimated Useful Life (In Years)	5 years
Estimated Fair Value	$ 3,200

Research and Development Costs	9 Months Ended
Sep. 30, 2025
Research and Development [Abstract]
Research and Development Costs	7. Research and Development Costs Expenditures for research and development are charged to expense as incurred and totaled $15.7 million and $42.1 million, respectively, during the three- and nine-month periods ended September 30, 2025, and $9.8 million and $29.3 million, respectively, during the prior-year period. Research and development costs are reported as Engineering, design and development expenses in our Unaudited Condensed Consolidated Statements of Operations.

Research and Development Costs

9 Months Ended

Sep. 30, 2025

Research and Development [Abstract]

Research and Development Costs

7. Research and Development Costs

Expenditures for research and development are charged to expense as incurred and totaled $15.7 million and $42.1 million, respectively, during the three- and nine-month periods ended September 30, 2025, and $9.8 million and $29.3 million, respectively, during the prior-year period. Research and development costs are reported as Engineering, design and development expenses in our Unaudited Condensed Consolidated Statements of Operations.

Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Current assets:

Cash and cash equivalents

$ 133,572

$ 41,765

Accounts receivable, net of allowances of $6,318 and $4,467, respectively

114,358

111,513

Inventories

^[1]

81,891

97,934

Assets held for sale

16,625

Prepaid expenses and other current assets

77,162

55,256

Total current assets

423,608

323,093

Non-current assets:

Property and equipment, net

115,766

119,125

Intangible assets, net

255,706

275,331

Goodwill

192,638

184,831

Operating lease right-of-use assets

60,401

68,465

Investment in convertible note

4,207

Other non-current assets, net of allowances of $450 and $861, respectively

36,660

36,870

Deferred income taxes

210,323

217,309

Total non-current assets

871,494

906,138

Total assets

1,295,102

1,229,231

Current liabilities:

Accounts payable

74,394

67,231

Accrued liabilities

134,717

81,889

Deferred revenue

32,114

30,408

Current portion of long-term debt

2,500

Total current liabilities

243,725

182,028

Non-current liabilities:

Long-term debt

833,030

831,581

Non-current operating lease liabilities

58,742

68,178

Other non-current liabilities

52,649

78,120

Total non-current liabilities

944,421

977,879

Total liabilities

1,188,146

1,159,907

Commitments and contingencies (Note 17)

Stockholders' equity

Common stock, par value $0.0001 per share; 500,000,000 shares authorized at September 30, 2025 and December 31, 2024; 133,854,342 and 144,095,996 shares issued at September 30, 2025 and December 31, 2024, respectively; and 133,854,342 and 130,918,997 shares outstanding at September 30, 2025 and December 31, 2024, respectively

Additional paid-in capital

1,283,209

1,460,270

Accumulated other comprehensive income

960

5,567

Treasury stock, at cost

(196,382)

Accumulated deficit

(1,177,226)

(1,200,145)

Total stockholders' equity

106,956

69,324

Total liabilities and stockholders' equity

$ 1,295,102

$ 1,229,231

[1]	See Note 5, “Government Assistance,” for additional information.

Leases - Schedule of Lease Expense (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2025

Sep. 30, 2024

Sep. 30, 2025

Sep. 30, 2024

Leases [Abstract]

Operating lease cost

^[1]

$ 9,713

$ 4,202

$ 27,783

$ 12,393

Financing lease cost:

Amortization of leased assets

Interest on lease liabilities

Total lease cost

$ 9,728

$ 4,219

$ 27,831

$ 12,445

[1]	(1) Includes short-term and variable lease cost.

Income Tax - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Effective income tax rate	(242.80%)	12.50%	35.30%	23.10%
Federal statutory rate	21.00%	21.00%	21.00%	21.00%
Interest or penalties related to uncertain tax positions	$ 0	$ 0	$ 0	$ 0
Liabilities for interest and potential penalties	$ 0		$ 0		$ 0

Business Segment (Additional Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Segment Reporting Information [Line Items]
Total assets	$ 1,295,102		$ 1,229,231
Business Segments
Segment Reporting Information [Line Items]
Total assets	1,295,100		$ 1,229,200
Capital Expenditures	$ 34,700	$ 18,900

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Revenue Recognition - Summary of Revenue Disaggregated by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 223,585	$ 100,529	$ 679,930	$ 306,910
Cost of Service Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	189,956	81,857	582,533	245,459
Cost of Equipment Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	33,629	18,672	97,397	61,451
Cost Of Service Revenue By Market [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	189,956	81,857	582,533	245,459
Satellite Broadband [Member] \| Cost of Service Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	78,489	1,143	232,874	3,077
Satellite Broadband [Member] \| Cost of Equipment Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	9,511	55	20,449	165
ATG Broadband [Member] \| Cost of Service Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	71,051	77,664	221,235	233,229
ATG Broadband [Member] \| Cost of Equipment Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	17,456	16,001	57,914	52,544
Narrowband And Other [Member] \| Cost of Service Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	40,416	3,050	128,424	9,153
Narrowband And Other [Member] \| Cost of Equipment Revenue [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	6,662	2,616	19,034	8,742
Business Aviation [Member] \| Cost Of Service Revenue By Market [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	162,622	81,857	497,269	245,459
Military Or Government [Member] \| Cost Of Service Revenue By Market [Member]
Disaggregation Of Revenue [Line Items]
Disaggregation of revenue	$ 27,334	$ 0	$ 85,264	$ 0

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowances on accounts receivable	$ 6,318	$ 4,467
Other non-current assets, net of allowances	$ 450	$ 861
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	133,854,342	144,095,996
Common stock, shares outstanding	133,854,342	130,918,997

Composition of Certain Balance Sheet Accounts - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Accrued Liabilities, Current [Abstract]
Earnout liability	$ 37,600	$ 0
Employee compensation and benefits	29,581	20,669
Operating leases	$ 14,244	$ 12,676
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued liabilities	Total accrued liabilities
Customer credit reserve	$ 9,967	$ 9,935
Accrued inventory	11,565	5,101
Network equipment	3,334	4,437
Warranty reserve	5,310	4,100
Taxes	9,716	8,966
Accrued interest	138	2,184
Other	13,262	13,821
Total accrued liabilities	$ 134,717	$ 81,889

Leases - Additional Information (Details)	Sep. 30, 2025
Maximum
Lessee, Lease, Description [Line Items]
Leases terms	10 years
Renewal options lease term plan	25 years
Minimum
Lessee, Lease, Description [Line Items]
Leases terms	5 years
Renewal options lease term plan	5 years

Accumulated Other Comprehensive Income (Loss) - Summary of changes in accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 102,790	$ 52,011	$ 69,324	$ 40,725
Other comprehensive income (loss) before reclassifications	18	(4,039)	(842)	1,040
Net current period comprehensive income (loss)	(1,267)	(7,032)	(4,607)	(10,837)
Ending Balance	106,956	52,724	106,956	52,724
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			(1,757)	(934)
Other comprehensive income (loss) before reclassifications			969	(126)
Less: income realized and reclassified to earnings			0	0
Net current period comprehensive income (loss)			969	(126)
Ending Balance	(788)	(1,060)	(788)	(1,060)
Change in Fair Value Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance			7,324	16,730
Other comprehensive income (loss) before reclassifications			(842)	1,040
Less: income realized and reclassified to earnings			4,734	11,751
Net current period comprehensive income (loss)			(5,576)	(10,711)
Ending Balance	1,748	6,019	1,748	6,019
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	2,227	11,991	5,567	15,796
Other comprehensive income (loss) before reclassifications			127	914
Less: income realized and reclassified to earnings			4,734	11,751
Net current period comprehensive income (loss)			(4,607)	(10,837)
Ending Balance	$ 960	$ 4,959	$ 960	$ 4,959

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2025
Accounting Policies [Abstract]
Segments	Segments – As a result of the Company’s acquisition of Satcom Direct, as described in Note 2, “Acquisition of Satcom Direct,” the Company initially had two reportable segments on December 3, 2024: the legacy pre-acquisition operations of the Company and the acquired entities of Satcom Direct. However, during the third quarter of 2025, the Company’s chief operating decision maker (“CODM”), who is the Chief Executive Officer, started making resource and operating decisions by evaluating the performance and business results of the consolidated company. As such, the Company has a single reportable segment as of September 30, 2025.
Basis of Presentation	Basis of Presentation – The accompanying Unaudited Condensed Consolidated Financial Statements and notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conformity with Article 10 of Regulation S-X promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements and should be read in conjunction with our annual audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2025 (the “2024 10-K”). These Unaudited Condensed Consolidated Financial Statements reflect, in the opinion of management, all material adjustments (which include normal recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations and cash flows for the periods presented. The results of operations and cash flows for the three- and nine-month periods ended September 30, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2025. We had one class of common stock outstanding as of September 30, 2025 and December 31, 2024.
Use of Estimates	Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates the significant estimates and bases such estimates on historical experience and various other assumptions believed to be reasonable under the circumstances. However, actual results could differ materially from those estimates.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or expected to have minimal impact on our consolidated financial statements and related notes. Accounting standards not yet adopted: In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures, most notably in the tax rate reconciliation and income taxes paid. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis, with retrospective application permitted. As this guidance only impacts disclosures, we do not expect the adoption to have a material impact on our consolidated financial statements. In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses which requires disclosure about specific types of expenses included in the expense captions presented in the Consolidated Statements of Operations. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the amendments should be applied on a prospective basis, however, retrospective application is permitted. We are currently evaluating the impact that this guidance will have upon our consolidated financial statements and related notes. In September 2025, the FASB issued ASU No. 2025-06, Intangibles-Goodwill and Other Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which details the criteria for capitalization of internal-use software costs. The ASU is effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, and may be adopted on a prospective, modified, or retrospective transition approach, and early adoption is permitted. We are currently evaluating the impact that this guidance will have upon our consolidated financial statements and related notes.

- Definition

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- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

+ Details

Composition of Certain Balance Sheet Accounts - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Other Liabilities, Noncurrent [Abstract]
Total other non-current liabilities	$ 52,649	$ 78,120

Goodwill and Other Intangible Assets - Schedule of Intangible Assets, Other than Goodwill (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Intangible Assets Net Excluding Goodwill [Line Items]

Total amortized intangible assets, Gross Carrying Amount

^[1]

$ 318,726

$ 307,648

Total amortized intangible assets, Accumulated Amortization

^[1]

(94,339)

(64,600)

Total amortized intangible assets, Net Carrying Amount

^[1]

224,387

243,048

Total intangible assets, Gross Carrying amount

350,045

339,931

Total intangible assets, Net Carrying Amount

255,706

275,331

Software [Member]

Intangible Assets Net Excluding Goodwill [Line Items]

Total amortized intangible assets, Gross Carrying Amount

^[1]

139,458

132,673

Total amortized intangible assets, Accumulated Amortization

^[1]

(53,295)

(47,225)

Total amortized intangible assets, Net Carrying Amount

^[1]

86,163

85,448

Service Customer Relationships [Member]

Intangible Assets Net Excluding Goodwill [Line Items]

Total amortized intangible assets, Gross Carrying Amount

^[1]

152,681

Total amortized intangible assets, Accumulated Amortization

^[1]

(32,180)

(10,491)

Total amortized intangible assets, Net Carrying Amount

^[1]

120,501

142,190

OEM and Dealer Relationships [Member]

Intangible Assets Net Excluding Goodwill [Line Items]

Total amortized intangible assets, Gross Carrying Amount

^[1]

17,024

Total amortized intangible assets, Accumulated Amortization

^[1]

(7,797)

(6,831)

Total amortized intangible assets, Net Carrying Amount

^[1]

9,227

10,193

Other Intangible Assets [Member]

Intangible Assets Net Excluding Goodwill [Line Items]

Total amortized intangible assets, Gross Carrying Amount

^[1]

9,563

5,270

Total amortized intangible assets, Accumulated Amortization

^[1]

(1,067)

(53)

Total amortized intangible assets, Net Carrying Amount

^[1]

8,496

5,217

FCC Licenses [Member]

Intangible Assets Net Excluding Goodwill [Line Items]

Total unamortized intangible assets, Gross Carrying Amount

31,319

32,283

Total unamortized intangible assets, Net Carrying Amount

$ 31,319

$ 32,283

[1]	See Note 5, “Government Assistance,” for additional information.

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts Strike Rates and End Dates of the Cap Agreements

The notional amounts, strike rates and end dates of the cap agreements are as follows (notional amounts in thousands):


Start Date	End Date	Notional Amounts		Strike Rate
7/31/2021	7/30/2023	$	650,000		0.75	%
7/31/2023	7/30/2024		525,000		0.75	%
7/31/2024	7/30/2025		350,000		1.25	%
7/31/2025	7/30/2026		250,000		2.25	%
7/31/2026	7/30/2027		200,000		2.75	%

Schedule of Derivative Assets at Fair Value

The following table presents the fair value of our interest rate derivatives included in the Unaudited Condensed Consolidated Balance Sheets for the periods presented (in thousands):


		September 30,		December 31,
Derivatives designated as hedging instruments	Balance sheet location	2025		2024
Current portion of interest rate caps	Prepaid expenses and other current assets	$	3,494	$	7,351
Non-current portion of interest rate caps	Other non-current assets	$	1,476	$	6,660

Composition of Certain Balance Sheet Accounts - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Prepaid Expense and Other Assets [Abstract]

Interest rate caps and receivable

$ 4,493

$ 9,519

FCC reimbursement receivable

^[1]

26,047

9,732

Contract assets

^[1]

9,263

7,609

Prepaid inventories

2,902

3,512

Tax indemnification receivable

^[2]

5,268

5,044

Other

29,189

19,840

Total prepaid expenses and other current assets

$ 77,162

$ 55,256

[1]	See Note 5, “Government Assistance,” for additional information
[2]	See Note 17, “Commitments and Contingencies,” for additional information

Acquisition of Satcom Direct - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024	Dec. 03, 2024
Business Combination [Line Items]
Common stock, par value	$ 0.0001		$ 0.0001
Repurchases of common stock	$ 0	$ 30,763
Earnout Consideration has an estimated fair value	79,000		$ 53,000
Goodwill	192,638		184,831
Measurement period adjustment	7,807
Accrued Liabilities
Business Combination [Line Items]
Earnout Consideration has an estimated fair value	41,400
U.S.
Business Combination [Line Items]
Goodwill	166,500
Satcom Direct [Member]
Business Combination [Line Items]
Company Acquisition of The Issued And Outstanding Equity Interests				100.00%
Aggregate cash purchase amount	$ 375,000
Common stock, par value	$ 0.0001
Repurchases of common stock	$ 225,000
Goodwill	192,018
Measurement period adjustment	7,800
Acquired Goodwill Increased	$ 192,000		$ 184,200
Pro Forma Information, Description	The amounts have been calculated after applying the Company’s accounting policies and are based upon currently available information. The unaudited pro-forma information for the period presented includes the following adjustments, where applicable, for business combination accounting effects resulting from the acquisition: (i) the change in Cost of Equipment to reflect the fair value change in inventory, (ii) incremental stock compensation expense, and adjustments for change in control bonuses that vest after the Closing as post-combination compensation expense, (iii) additional Depreciation and amortization expense related to the step up in fair value for finite-lived intangible assets and property and equipment acquired, (iv) removal of historical interest expense associated with Satcom Direct’s historical indebtedness which was extinguished upon consummation of the acquisition and the addition of interest expense related to financing the acquisition (refer to Note 9, “Long-Term Debt and Other Liabilities,” for additional information), and (v) the related tax effects assuming the acquisition occurred on January 1, 2023. Pre-acquisition revenue and net income amounts for Satcom Direct were derived from the books and records prepared prior to the acquisition and are presented for informational purposes only and do not purport to be indicative of the results of future operations or of the results that would have occurred had the acquisition taken place as of the date noted below.
Credit Agreement [Member]
Business Combination [Line Items]
Cash Consideration Financed via the Company's	$ 250,000

Leases - Schedule of Annual Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Operating Leases
2025 (period from October 1 to December 31)	$ 4,227
2026	18,795
2027	17,064
2028	14,606
2029	13,061
Thereafter	19,634
Total future minimum lease payments	87,387
Less: Amount representing interest	(14,401)
Present value of net minimum lease payments	72,986
Accrued liabilities	14,244	$ 12,676
Non-current operating lease liabilities	58,742	$ 68,178
Other non-current liabilities	0
Total lease liabilities	72,986
Financing Leases
2025 (period from October 1 to December 31)	43
2026	60
2027	15
2028	0
2029	0
Thereafter	0
Total future minimum lease payments	118
Less: Amount representing interest	(6)
Present value of net minimum lease payments	112
Accrued liabilities	83
Non-current operating lease liabilities	0
Other non-current liabilities	29
Total lease liabilities	$ 112

Basis of Presentation

9 Months Ended

Sep. 30, 2025

Accounting Policies [Abstract]

Basis of Presentation

1. Basis of Presentation

The Business – Gogo Inc. (“Gogo,” the “Company,” “we,” “us,” or “our”) is the only multi-orbit, multi-band in-flight connectivity provider offering connectivity technology purpose-built for business and military/government aviation. The Company has a holistic approach of providing broadband connectivity services to its customers from small to large aircraft and heavy jets through the Company’s air-to-ground (“ATG”) technology and access to multiple satellite constellations, which aim to deliver consistent, global tip-to-tail connectivity with a suite of software, hardware, and advanced infrastructure supported by a 24/7/365 customer support team.

Segments – As a result of the Company’s acquisition of Satcom Direct, as described in Note 2, “Acquisition of Satcom Direct,” the Company initially had two reportable segments on December 3, 2024: the legacy pre-acquisition operations of the Company and the acquired entities of Satcom Direct. However, during the third quarter of 2025, the Company’s chief operating decision maker (“CODM”), who is the Chief Executive Officer, started making resource and operating decisions by evaluating the performance and business results of the consolidated company. As such, the Company has a single reportable segment as of September 30, 2025.

Basis of Presentation – The accompanying Unaudited Condensed Consolidated Financial Statements and notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conformity with Article 10 of Regulation S-X promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements and should be read in conjunction with our annual audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2025 (the “2024 10-K”). These Unaudited Condensed Consolidated Financial Statements reflect, in the opinion of management, all material adjustments (which include normal recurring adjustments) necessary to fairly state, in all material respects, our financial position, results of operations and cash flows for the periods presented.

The results of operations and cash flows for the three- and nine-month periods ended September 30, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2025.

We had one class of common stock outstanding as of September 30, 2025 and December 31, 2024.

Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates the significant estimates and bases such estimates on historical experience and various other assumptions believed to be reasonable under the circumstances. However, actual results could differ materially from those estimates.

Recently Issued Accounting Pronouncements

The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or expected to have minimal impact on our consolidated financial statements and related notes.

Accounting standards not yet adopted:

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures to enhance the transparency and decision usefulness of income tax disclosures, most notably in the tax rate reconciliation and income taxes paid. This guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis, with retrospective application permitted. As this guidance only impacts disclosures, we do not expect the adoption to have a material impact on our consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses which requires disclosure about specific types of expenses included in the expense captions presented in the Consolidated Statements of Operations. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the amendments should be applied on a prospective basis, however, retrospective application is permitted. We are currently evaluating the impact that this guidance will have upon our consolidated financial statements and related notes.

In September 2025, the FASB issued ASU No. 2025-06, Intangibles-Goodwill and Other Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which details the criteria for capitalization of internal-use software costs. The ASU is effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years, and may be adopted on a prospective, modified, or retrospective transition approach, and early adoption is permitted. We are currently evaluating the impact that this guidance will have upon our consolidated financial statements and related notes.

Composition of Certain Balance Sheet Accounts (Tables)

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Components of Inventories

Inventories as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Work-in-process component parts	$	39,845	$	53,633
Finished goods		42,046		44,301
Total inventory(1)	$	81,891	$	97,934

(1) See Note 5, “Government Assistance,” for additional information.

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Interest rate caps and receivable	$	4,493	$	9,519
FCC reimbursement receivable(1)		26,047		9,732
Contract assets(1)		9,263		7,609
Prepaid inventories		2,902		3,512
Tax indemnification receivable(2)		5,268		5,044
Other		29,189		19,840
Total prepaid expenses and other current assets	$	77,162	$	55,256

(1) See Note 5, “Government Assistance,” for additional information.

(2) See Note 17, “Commitments and Contingencies,” for additional information.

Schedule of Property and Equipment

Property and equipment as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,			December 31,
	2025			2024
Office equipment, furniture, fixtures and other	$	48,018		$	41,731
Leasehold improvements		16,756			16,193
Land and buildings		6,540			6,540
Network equipment(1)		194,497			189,198
		265,811			253,662
Accumulated depreciation		(150,045	)		(134,537	)
Total property and equipment, net	$	115,766		$	119,125

(1) See Note 5, “Government Assistance,” for additional information.

Schedule of Other Non-Current Assets

Other non-current assets as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Interest rate caps	$	1,476	$	6,660
Contract assets, net of allowances of $450 and $861, respectively(1)		25,627		17,422
Revolving credit facility deferred financing costs		1,775		2,344
Other		7,782		10,444
Total other non-current assets	$	36,660	$	36,870

(1) See Note 5, “Government Assistance,” for additional information.

Schedule of Accrued Liabilities

Accrued liabilities as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024

Earnout liability	$	37,600	$	—
Employee compensation and benefits		29,581		20,669
Operating leases		14,244		12,676
Customer credit reserve		9,967		9,935
Accrued inventory		11,565		5,101
Network equipment		3,334		4,437
Warranty reserve		5,310		4,100
Taxes		9,716		8,966
Accrued interest		138		2,184
Other		13,262		13,821
Total accrued liabilities	$	134,717	$	81,889

Derivative Instruments and Hedging Activities

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

10. Derivative Instruments and Hedging Activities

We are exposed to interest rate risk on our variable rate borrowings. We currently use interest rate caps to manage our exposure to interest rate changes, and have designated these interest rate caps as cash flow hedges for accounting purposes. Accordingly, the earnings impact of the derivatives designated as cash flow hedges is recorded upon the recognition of the variable interest payments related to the hedged debt.

In May 2021, we purchased interest rate caps with an aggregate notional amount of $650.0 million for $8.6 million. The cost of the interest rate caps will be amortized to interest expense using the caplet method, from the effective date through termination date. We receive payments in the amount calculated pursuant to the caps for any period in which the daily compounded SOFR rate plus a credit spread adjustment recommended by the Alternative Reference Rate Committee of 0.26% increases beyond the applicable strike rate. The notional amounts of the interest rate caps periodically decrease over the life of the caps.

The notional amounts, strike rates and end dates of the cap agreements are as follows (notional amounts in thousands):


Start Date	End Date	Notional Amounts		Strike Rate
7/31/2021	7/30/2023	$	650,000		0.75	%
7/31/2023	7/30/2024		525,000		0.75	%
7/31/2024	7/30/2025		350,000		1.25	%
7/31/2025	7/30/2026		250,000		2.25	%
7/31/2026	7/30/2027		200,000		2.75	%

We record the effective portion of changes in the fair value of our cash flow hedges to other comprehensive income (loss), net of tax, and subsequently reclassify these amounts into earnings in the period during which the hedged transaction is recognized. The amounts included in accumulated other comprehensive income (loss) will be reclassified to interest expense in the event the hedges are no longer considered effective, in accordance with ASC 815, Derivatives and Hedging. No gains or losses of our cash flow hedges were considered to be ineffective and reclassified from other comprehensive income (loss) to earnings for the three- and nine-month periods ended September 30, 2025 and 2024. We estimate that approximately $1.5 million currently recorded in accumulated other comprehensive income (loss) will be recognized in earnings over the next 12 months. We assess the effectiveness of the hedges on an ongoing basis, and the remaining outstanding caps are still considered to be highly effective, and remain designated as a cash flow hedge. Cash flows from interest rate caps are classified in the Unaudited Condensed Consolidated Statements of Cash Flows as investing activities.

For the three-month period ended September 30, 2025, we recorded a decrease in fair value on the interest rate caps of $1.6 million, net of tax of $0.4 million, and for the nine-month period ended September 30, 2025, we recorded decrease in fair value on the interest rate caps of $7.2 million, net of tax of $1.9 million. For the three-month period ended September 30, 2024, we recorded a decrease in fair value on the interest rate caps of $7.7 million, net of tax of $2.4 million, and for the nine-month period ended September 30, 2024, we recorded a decrease in fair value on the interest rate caps of $12.7 million, net of tax of $3.5 million. Increases and decreases in fair value on interest rate caps above exclude amortization of the purchase price paid for the interest rate caps.

When derivatives are used, we are exposed to credit loss in the event of non-performance by the counterparties; however, non-performance is not anticipated. ASC 815, Derivatives and Hedging, requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. The fair values of the interest rate derivatives are based on quoted market prices for similar instruments from commercial banks (based on significant observable inputs - Level 2 inputs).

The following table presents the fair value of our interest rate derivatives included in the Unaudited Condensed Consolidated Balance Sheets for the periods presented (in thousands):


		September 30,		December 31,
Derivatives designated as hedging instruments	Balance sheet location	2025		2024
Current portion of interest rate caps	Prepaid expenses and other current assets	$	3,494	$	7,351
Non-current portion of interest rate caps	Other non-current assets	$	1,476	$	6,660

Fair Value Measurement

Our derivative assets and liabilities consist principally of interest rate caps, which are carried at fair value based on significant observable inputs (Level 2 inputs). Derivatives entered into by us are typically executed over-the-counter and are valued using discounted cash flows along with fair value models that primarily use market observable inputs. These models take into account a variety of factors including, where applicable, maturity, interest rate yield curves, and counterparty credit risks.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

8. Goodwill and Other Intangible Assets

Our intangible assets are comprised of both indefinite-lived and finite-lived intangible assets and goodwill. Intangible assets with indefinite lives are not amortized but are reviewed for impairment at least annually or whenever events or circumstances indicate the carrying value of the asset may not be recoverable. We perform our annual impairment test of our indefinite-lived intangible assets during the fourth quarter of each fiscal year, and the results from the test performed in the fourth quarter of 2024 indicated no impairment. We also reevaluate the useful life of indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life.

Changes in the carrying value of goodwill were as follows (in thousands):


Balance at January 1, 2025	$	184,831
Measurement period adjustments		7,807
Balance at September 30, 2025	$	192,638

Refer to Note 2, “Acquisition of Satcom Direct,” for further information on the 2025 change in goodwill.

Our intangible assets, other than goodwill, as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	As of September 30, 2025							As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortized intangible assets(1):
Software	$	139,458	$	(53,295	)	$	86,163	$	132,673	$	(47,225	)	$	85,448
Service customer relationships		152,681		(32,180	)		120,501		152,681		(10,491	)		142,190
OEM and dealer relationships		17,024		(7,797	)		9,227		17,024		(6,831	)		10,193
Other		9,563		(1,067	)		8,496		5,270		(53	)		5,217
Total amortized intangible assets		318,726		(94,339	)		224,387		307,648		(64,600	)		243,048
Unamortized intangible assets:
FCC License		31,319		—			31,319		32,283		—			32,283
Total intangible assets	$	350,045	$	(94,339	)	$	255,706	$	339,931	$	(64,600	)	$	275,331

(1) See Note 5, “Government Assistance,” for additional information.

Amortization expense was $10.0 million and $29.7 million, for the three- and nine-month periods ended September 30, 2025, and $0.2 million and $0.6 million, respectively, for the prior-year periods.

Amortization expense for the remainder of 2025, each of the next four years and thereafter is estimated to be as follows (in thousands):


	Amortization
Years ending December 31,	Expense
2025 (period from October 1 to December 31)	$	10,351
2026	$	43,717
2027	$	43,167
2028	$	43,139
2029	$	40,481
Thereafter	$	43,532

Actual future amortization expense could differ from the estimated amount as a result of future investments and other factors.

Government Assistance - Summary of Increases to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Operating expenses:
General and administrative	$ 27,858	$ 24,917	$ 86,010	$ 61,416
FCC Reimbursement Program
Revenue:
Service revenue	2,037	796	5,631	2,239
Operating expenses:
Cost of service revenue	514	100	554	610
Cost of equipment revenue	1,478	3,647	5,720	10,415
General and administrative	$ 115	$ 50	$ 302	$ 231

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2025	Dec. 31, 2024
Revenue From Contracts With Customers [Line Items]
Transaction price allocated to remaining performance obligations	$ 548.0	$ 548.0
Deferred revenue, current and non-current	10.0	40.7
Equipment revenue		$ 9.0
Future equipment revenue recognition period		three years
Minimum [Member]
Revenue From Contracts With Customers [Line Items]
Revenue recognition term of contract		2 years
Maximum [Member]
Revenue From Contracts With Customers [Line Items]
Transaction price allocated to remaining performance obligations	$ 539.0	$ 539.0
Revenue recognition term of contract		10 years
One to Five Years [Member] \| Minimum [Member]
Revenue From Contracts With Customers [Line Items]
Remaining unsatisfied performance obligations term	1 year	1 year
One to Five Years [Member] \| Maximum [Member]
Revenue From Contracts With Customers [Line Items]
Remaining unsatisfied performance obligations term	5 years	5 years
Five to Ten Years [Member] \| Minimum [Member]
Revenue From Contracts With Customers [Line Items]
Remaining unsatisfied performance obligations term	5 years	5 years
Five to Ten Years [Member] \| Maximum [Member]
Revenue From Contracts With Customers [Line Items]
Remaining unsatisfied performance obligations term	10 years	10 years
Airline [Member] \| Revenue [Member] \| Customer Concentration Risk [Member]
Revenue From Contracts With Customers [Line Items]
Contract assets, current and non-current	$ 34.9	$ 34.9	$ 25.0
Accounting Standards Update 2014-09 Member
Revenue From Contracts With Customers [Line Items]
Deferred revenue, current and non-current	$ 32.9	$ 32.9	$ 41.3
Connectivity and Entertainment Service Revenues [Member]
Revenue From Contracts With Customers [Line Items]
Revenue, Remaining Performance Obligation, Percentage	38.00%	38.00%
Connectivity and Entertainment Service Revenues [Member] \| One to Five Years [Member]
Revenue From Contracts With Customers [Line Items]
Revenue, Remaining Performance Obligation, Percentage	46.00%	46.00%
Connectivity and Entertainment Service Revenues [Member] \| Five to Ten Years [Member]
Revenue From Contracts With Customers [Line Items]
Revenue, Remaining Performance Obligation, Percentage	16.00%	16.00%

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2021	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Derivative Instruments Gain Loss [Line Items]
Notional Amounts	$ 650.0
Derivative, description of terms	We receive payments in the amount calculated pursuant to the caps for any period in which the daily compounded SOFR rate plus a credit spread adjustment recommended by the Alternative Reference Rate Committee of 0.26% increases beyond the applicable strike rate.
Unrealized loss on the interest rate caps net		$ 0.4	$ 2.4	$ 1.9	$ 3.5
Other Comprehensive Income (Loss)
Derivative Instruments Gain Loss [Line Items]
Net unrealized gains from our cash flow hedges		0.0	0.0	0.0	0.0
Fair value of outstanding derivative instruments, loss, expected to be reclassified to earnings		1.5		1.5
Interest Rate Cap
Derivative Instruments Gain Loss [Line Items]
Notional Amounts	$ 8.6
Decrease in fair value on interest		$ 1.6	$ 7.7	$ 7.2	$ 12.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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-Topic 815
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-Name Accounting Standards Codification
-Section 55
-Paragraph 182
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480401/815-10-55-182

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-Section 50
-Paragraph 4D
-Subparagraph (a)(5)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)(4)
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+ Details

Fair Value of Financial Assets and Liabilities - Summary of Fair Value and Carrying Value of Long-Term Debt (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

2021 Term Loan Facility [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair value of term loan facility

^[1]

$ 598,000

$ 572,000

Carrying value of term loan facility

^[2]

600,108

599,776

HPS Term Loan Facility [Member]

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Fair value of term loan facility

^[1]

243,000

244,000

Carrying value of term loan facility

^[3]

$ 243,556

$ 244,469

[1]	Fair value amounts are rounded to the nearest million.
[2]	Carrying value of the 2021 Term Loan Facility reflects the unaccreted debt discount of $1.3 million and $1.7 million as of September 30, 2025 and December 31, 2024, respectively. See Note 9, “Long-Term Debt and Other Liabilities,” for further information.
[3]	Carrying value of the HPS Term Loan Facility reflects the unaccreted debt discount of $3.9 million and $4.9 million as of September 30, 2025 and December 31, 2024, respectively. See Note 9, “Long-Term Debt and Other Liabilities,” for further information.

Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Reconciliation of Investment in Convertible Note

the reconciliation of beginning and ending balances were as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Balance at beginning of period	$	4,207	$	3,438	$	4,207	$	—
Investment		—		—		—		5,000
Change in fair value		458		323		458		(1,239	)
Balance at end of period	$	4,665	$	3,761	$	4,665	$	3,761

Summary of Fair Value and Carrying Value of Long-Term Debt

The fair value and carrying value of long-term debt as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30, 2025					December 31, 2024
	Fair Value (1)		Carrying Value			Fair Value (1)		Carrying Value
2021 Term Loan Facility	$	598,000	$	600,108	(2)	$	572,000	$	599,776	(2)
HPS Term Loan Facility		243,000		243,556	(3)		244,000		244,469	(3)

(1)

Fair value amounts are rounded to the nearest million.

(2)

Carrying value of the 2021 Term Loan Facility reflects the unaccreted debt discount of $1.3 million and $1.7 million as of September 30, 2025 and December 31, 2024, respectively. See Note 9, “Long-Term Debt and Other Liabilities,” for further information.

(3)

Carrying value of the HPS Term Loan Facility reflects the unaccreted debt discount of $3.9 million and $4.9 million as of September 30, 2025 and December 31, 2024, respectively. See Note 9, “Long-Term Debt and Other Liabilities,” for further information.

Acquisition of Satcom Direct - Schedule of Closing fair value of the Acquisition Consideration (Details) - Satcom Direct [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2025 USD ($) $ / shares
Business Combination [Line Items]
Common Stock issued per the Purchase Agreement	$ 5,000
Share price on December 2, 2024 \| $ / shares	$ 8.1
Stock Consideration	$ 40,500
Cash Consideration	346,900
Settlement of pre-existing relationship	393
Estimated fair value of Earnout Consideration	60,100
Preliminary fair value of estimated aggregate Acquisition Consideration	$ 447,893

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Interest Costs (Tables)

9 Months Ended

Sep. 30, 2025

Text Block [Abstract]

Summary of Interest Costs

The following is a summary of our interest costs for the three- and nine-month periods ended September 30, 2025 and 2024 (in thousands):


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
Interest costs charged to expense	$	17,981		$	13,098		$	53,079		$	39,698
Amortization of deferred financing costs		888			621			2,587			1,818
Amortization of the purchase price of interest rate caps		379			575			1,609			1,967
Interest rate cap benefit		(2,013	)		(4,730	)		(7,918	)		(17,599	)
Accretion of debt discount		446			106			1,293			309
Interest expense		17,681			9,670			50,650			26,193
Interest costs capitalized to property and equipment		964			740			2,859			1,948
Interest costs capitalized to software		334			396			1,287			940
Total interest costs	$	18,979		$	10,806		$	54,796		$	29,081

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Summary of Revenue Disaggregated by Category

The following table presents our revenue disaggregated by category (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Service revenue by type
Satellite broadband	$	78,489	$	1,143	$	232,874	$	3,077
ATG broadband		71,051		77,664		221,235		233,229
Narrowband and other		40,416		3,050		128,424		9,153
Total service revenue by type	$	189,956	$	81,857	$	582,533	$	245,459
Service revenue by market
Business aviation	$	162,622	$	81,857	$	497,269	$	245,459
Military / Government		27,334		—		85,264		—
Total service revenue by market	$	189,956	$	81,857	$	582,533	$	245,459

Equipment revenue
Satellite broadband	$	9,511	$	55	$	20,449	$	165
ATG broadband		17,456		16,001		57,914		52,544
Narrowband and other		6,662		2,616		19,034		8,742
Total equipment revenue	$	33,629	$	18,672	$	97,397	$	61,451

Government Assistance - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024	Jul. 15, 2022
Government Assistance [Line Items]
Reimbursements cost			$ 132,000
Prepaid expenses and other current assets	$ 77,162	$ 55,256
Federal Communications Commission
Government Assistance [Line Items]
Reimbursements cost			334,000
Prepaid expenses and other current assets	$ 26,000	$ 9,700
Federal Communications Commission \| FCC Reimbursement Program
Government Assistance [Line Items]
Reimbursements cost			$ 334,000

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Operating activities:
Net income	$ 22,919	$ 41,959
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	44,474	11,743
Loss on asset disposals, abandonments and write-downs	44	101
Provision for expected credit losses	494	1,310
Deferred income taxes	9,569	10,740
Stock-based compensation expense	18,520	14,755
Amortization of deferred financing costs and interest rate caps	4,196	3,785
Accretion of debt discount	1,293	309
Change in fair value of earnout liability	18,900	0
Change in fair value of convertible note investment	(458)	1,239
Changes in operating assets and liabilities:
Accounts receivable	(5,678)	1,177
Inventories	16,058	(11,661)
Prepaid expenses and other current assets	(10,475)	(13,605)
Contract assets	(9,429)	(4,313)
Accounts payable	(930)	9,750
Accrued liabilities	17,156	12,956
Deferred revenue	(8,396)	844
Accrued interest	(2,046)	(316)
Other non-current assets and liabilities	(224)	(1,033)
Net cash provided by operating activities	115,987	79,740
Investing activities:
Purchases of property and equipment	(25,473)	(9,254)
Acquisition of intangible assets—capitalized software	(9,259)	(9,640)
Acquisition of Satcom Direct, net of cash acquired	(1,612)	0
Proceeds from FCC Reimbursement Program for property, equipment and intangibles	3,783	1,215
Proceeds from interest rate caps	9,088	19,454
Purchases of convertible note	0	(5,000)
Net cash used in investing activities	(23,473)	(3,225)
Financing activities:
Payments on term loan	(1,875)	(5,438)
Repurchase of common stock	0	(30,763)
Payments on financing leases	(33)	(8)
Stock-based compensation activity	800	(2,693)
Net cash used in financing activities	(1,108)	(38,902)
Effect of exchange rate changes on cash	328	29
Increase in cash, cash equivalents and restricted cash	91,734	37,642
Cash, cash equivalents and restricted cash at beginning of period	42,304	139,366
Cash, cash equivalents and restricted cash at end of period	134,038	177,008
Less: current restricted cash	72	0
Less: non-current restricted cash	394	330
Cash and cash equivalents at end of period	133,572	176,678
Supplemental cash flow information:
Cash paid for interest	59,260	42,893
Cash paid for taxes	1,962	2,264
Non-cash investing activities:
Purchases of property, equipment and intangibles in liabilities	$ 12,741	$ 5,658

Fair Value of Financial Assets and Liabilities - Summary of Fair Value and Carrying Value of Long-Term Debt (Parenthetical) (Details) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
2021 Term Loan Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, unamortized discount	$ 1.3	$ 1.7
HPS Term Loan Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, unamortized discount	$ 3.9	$ 4.9

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (1,930)	$ 10,630	$ 22,919	$ 41,959

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Acquisition of Satcom Direct (Tables)

9 Months Ended

Sep. 30, 2025

Business Combination [Abstract]

Schedule of Closing fair value of the Acquisition Consideration

The following table summarizes the fair value of the Acquisition Consideration at Closing (in thousands):


Estimated Aggregate Acquisition Consideration
Share consideration
Common Stock issued per the Purchase Agreement		5,000
Share price on December 2, 2024		8.10
Stock Consideration	$	40,500

Cash Consideration	$	346,900
Settlement of pre-existing relationship	$	393
Estimated fair value of Earnout Consideration	$	60,100
Preliminary fair value of estimated aggregate Acquisition Consideration	$	447,893

Schedule of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the Closing based on the preliminary purchase price allocation and measurement period adjustments (in thousands):


Preliminary Aggregate Purchase Price Allocation
Preliminary fair value of estimated total Acquisition Consideration	$	447,893
Assets acquired
Cash and cash equivalents	$	12,563
Accounts receivable, net of allowances		67,841
Inventories		18,528
Prepaid expenses and other current assets		13,348
Assets held for sale		16,625
Property and equipment, net		26,847
Intangible assets, net		213,300
Operating lease right-of-use assets		3,202
Other non-current assets, net of allowances		5,601
Deferred income taxes		1,367
Total assets acquired	$	379,222
Liabilities assumed
Accounts payable		62,814
Accrued liabilities		19,682
Deferred revenue		25,790
Non-current operating lease liabilities		2,706
Other non-current liabilities		12,355
Total liabilities assumed	$	123,347
Net assets acquired	$	255,875
Goodwill	$	192,018

Schedule of Components of Intangible Assets Acquired

The following table summarizes the key information underlying identifiable finite lived intangible assets related to the Satcom Direct acquisition (in thousands):


	Weighted Average Estimated Useful Life (In Years)		Estimated Fair Value
Software		8	$	55,200
Service customer relationships		5		144,600
OEM customer relationships		8		10,300
Tradename		5		3,200
Total intangible assets				213,300

Schedule of Unaudited Proforma Consolidated Revenues and Net Income


	Three Months Ended		Nine Months Ended
(in thousands)	September 30, 2024		September 30, 2024
Total revenue	$	226,844	$	672,395
Net income	$	5,904	$	19,906

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Value of Goodwill by Reportable Segment

Changes in the carrying value of goodwill were as follows (in thousands):


Balance at January 1, 2025	$	184,831
Measurement period adjustments		7,807
Balance at September 30, 2025	$	192,638

Schedule of Intangible Assets, Other than Goodwill

Our intangible assets, other than goodwill, as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	As of September 30, 2025							As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortized intangible assets(1):
Software	$	139,458	$	(53,295	)	$	86,163	$	132,673	$	(47,225	)	$	85,448
Service customer relationships		152,681		(32,180	)		120,501		152,681		(10,491	)		142,190
OEM and dealer relationships		17,024		(7,797	)		9,227		17,024		(6,831	)		10,193
Other		9,563		(1,067	)		8,496		5,270		(53	)		5,217
Total amortized intangible assets		318,726		(94,339	)		224,387		307,648		(64,600	)		243,048
Unamortized intangible assets:
FCC License		31,319		—			31,319		32,283		—			32,283
Total intangible assets	$	350,045	$	(94,339	)	$	255,706	$	339,931	$	(64,600	)	$	275,331

(1) See Note 5, “Government Assistance,” for additional information.

Summary of Amortization Expenses

Amortization expense for the remainder of 2025, each of the next four years and thereafter is estimated to be as follows (in thousands):


	Amortization
Years ending December 31,	Expense
2025 (period from October 1 to December 31)	$	10,351
2026	$	43,717
2027	$	43,167
2028	$	43,139
2029	$	40,481
Thereafter	$	43,532

Fair Value of Financial Assets and Liabilities

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

12. Fair Value of Financial Assets and Liabilities

A three-tier fair value hierarchy has been established which prioritizes the inputs used in measuring fair value. These tiers include:

•

Level 1 - defined as observable inputs such as quoted prices for identical assets or liabilities in active markets;

•

Level 2 - defined as observable inputs other than Level 1 inputs such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and

•

Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Refer to Note 10, “Derivative Instruments and Hedging Activities,” for fair value information relating to our interest rate caps.

Investment in Convertible Note:

On February 26, 2024, Gogo invested $5 million in a convertible note offering (“Investment in Convertible Note”). The Investment in Convertible Note accrues interest at 5% per annum, payable upon maturity of the note or upon conversion, and matures two years after the date of issuance. We have elected to measure our Investment in Convertible Note using the fair value option and record changes in fair value, including accrued interest, in Other (income) expense, net on the Unaudited Condensed Consolidated Statements of Operations. The Company elected the fair value option for the Investment in Convertible Note to eliminate complexities of applying certain accounting models.

The fair value of the Investment in Convertible Note is measured using Level 3 (unobservable) inputs. The Company, with the assistance of a third-party valuation specialist, determined the fair value using a binomial lattice model. The significant assumptions used in the model include the yield, equity volatility, outstanding principal, remaining term, stated interest rate, risk-free interest rate and the current publicly available stock price. The yield is estimated using similar security yields for companies with similar credit ratings. Equity volatility is estimated based on observed equity volatility for similar companies. The outstanding principal, remaining term and stated interest rate are all determined based on contractually defined terms and the risk-free interest rate is determined by

reference to the U.S. Treasury yield curve in effect at the time of measurement for time periods approximately equal to the remaining time to maturity.

The Investment in Convertible Note is included in Prepaid and other current assets on our Unaudited Condensed Consolidated Balance Sheets as of September 30, 2025 and the reconciliation of beginning and ending balances were as follows (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Balance at beginning of period	$	4,207	$	3,438	$	4,207	$	—
Investment		—		—		—		5,000
Change in fair value		458		323		458		(1,239	)
Balance at end of period	$	4,665	$	3,761	$	4,665	$	3,761

Long-Term Debt:

As of September 30, 2025 and December 31, 2024, our only financial assets and liabilities disclosed but not measured at fair value are the 2021 Term Loan Facility and the HPS Term Loan Facility, which are reflected on the consolidated balance sheets at cost. The fair value measurements are classified as Level 2 within the fair value hierarchy since they are based on quoted market prices of our instruments in markets that are not active. We estimated the fair values of the 2021 Term Loan Facility and the HPS Term Loan Facility by calculating the upfront cash payments a market participant would require to assume these obligations. The upfront cash payments used in the calculations of fair values on our Unaudited Condensed Consolidated Balance Sheets, excluding any issuance costs, are the amounts that a market participant would be willing to lend at such date to an entity with a credit rating similar to ours and that would allow such an entity to achieve sufficient cash inflows to cover the scheduled cash outflows under the 2021 Term Loan Facility and HPS Term Loan Facility.

The fair value and carrying value of long-term debt as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30, 2025					December 31, 2024
	Fair Value (1)		Carrying Value			Fair Value (1)		Carrying Value
2021 Term Loan Facility	$	598,000	$	600,108	(2)	$	572,000	$	599,776	(2)
HPS Term Loan Facility		243,000		243,556	(3)		244,000		244,469	(3)

(1)

Fair value amounts are rounded to the nearest million.

(2)

(3)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Composition of Certain Balance Sheet Accounts - Schedule of Other Non-Current Assets (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Other Assets, Noncurrent [Abstract]

Interest rate caps

$ 1,476

$ 6,660

Contract assets, net of allowances of $450 and $861, respectively

^[1]

25,627

17,422

Revolving credit facility deferred financing costs

1,775

2,344

Other

7,782

10,444

Total other non-current assets

$ 36,660

$ 36,870

[1]	See Note 5, “Government Assistance,” for additional information.

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 192,638		$ 192,638		$ 184,831
Amortization expense	$ 10,000	$ 200	$ 29,700	$ 600

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended
	May 17, 2024	Aug. 31, 2025	Sep. 30, 2025	Jul. 31, 2025	Dec. 31, 2024
Loss Contingencies [Line Items]
Prepaid expenses and other current assets			$ 77,162		$ 55,256
Revolving Credit Facility [Member]
Loss Contingencies [Line Items]
Outstanding Amount		$ 10,000
Commitments and Contingencies [Member]
Loss Contingencies [Line Items]
Prepaid expenses and other current assets			5,300		5,000
Contingent Liability			$ 5,300		$ 5,000
Commitments and Contingencies [Member] \| Revolving Credit Facility [Member]
Loss Contingencies [Line Items]
Revolving Credit Aggregate Principal Amount	$ 20,000
Line Of Credit Facility Remaining Borrowing Capacity				$ 10,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Composition of Certain Balance Sheet Accounts

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Balance Sheet Accounts

6. Composition of Certain Balance Sheet Accounts

Inventories consist primarily of telecommunications systems and parts and are recorded at the lower of average cost or net realizable value. We evaluate the need for write-downs associated with obsolete, slow-moving and nonsalable inventory by reviewing net realizable inventory values on a periodic basis.

Inventories as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Work-in-process component parts	$	39,845	$	53,633
Finished goods		42,046		44,301
Total inventory(1)	$	81,891	$	97,934

(1) See Note 5, “Government Assistance,” for additional information.

Prepaid expenses and other current assets as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Interest rate caps and receivable	$	4,493	$	9,519
FCC reimbursement receivable(1)		26,047		9,732
Contract assets(1)		9,263		7,609
Prepaid inventories		2,902		3,512
Tax indemnification receivable(2)		5,268		5,044
Other		29,189		19,840
Total prepaid expenses and other current assets	$	77,162	$	55,256

(1) See Note 5, “Government Assistance,” for additional information.

(2) See Note 17, “Commitments and Contingencies,” for additional information.

Property and equipment as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,			December 31,
	2025			2024
Office equipment, furniture, fixtures and other	$	48,018		$	41,731
Leasehold improvements		16,756			16,193
Land and buildings		6,540			6,540
Network equipment(1)		194,497			189,198
		265,811			253,662
Accumulated depreciation		(150,045	)		(134,537	)
Total property and equipment, net	$	115,766		$	119,125

(1) See Note 5, “Government Assistance,” for additional information.

Other non-current assets as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024
Interest rate caps	$	1,476	$	6,660
Contract assets, net of allowances of $450 and $861, respectively(1)		25,627		17,422
Revolving credit facility deferred financing costs		1,775		2,344
Other		7,782		10,444
Total other non-current assets	$	36,660	$	36,870

(1) See Note 5, “Government Assistance,” for additional information.

Accrued liabilities as of September 30, 2025 and December 31, 2024 were as follows (in thousands):


	September 30,		December 31,
	2025		2024

Earnout liability	$	37,600	$	—
Employee compensation and benefits		29,581		20,669
Operating leases		14,244		12,676
Customer credit reserve		9,967		9,935
Accrued inventory		11,565		5,101
Network equipment		3,334		4,437
Warranty reserve		5,310		4,100
Taxes		9,716		8,966
Accrued interest		138		2,184
Other		13,262		13,821
Total accrued liabilities	$	134,717	$	81,889

Leases

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Leases

16. Leases

Operating and Financing Leases — We determine whether a contract contains a lease at contract inception and calculate the lease liability and right-of-use asset using our incremental borrowing rate. We have operating lease agreements primarily related to cell sites, data centers, satellites and office buildings. Our cell site leases generally have terms of five to ten years, with renewal options for an additional five to 25 years. For certain cell sites, the renewal options are deemed to be reasonably certain to be exercised. Our data center leases have original terms between one to four years with unlimited one-year renewal options, some of which are reasonably certain to be exercised. Our building leases have original terms of ten years, with renewal options for an additional five years. We recognize operating lease expense on a straight-line basis over the lease term. As of September 30, 2025, there were no significant leases which had not commenced.

The following is a summary of our lease expense included in the Unaudited Condensed Consolidated Statements of Operations (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Operating lease cost(1)	$	9,713	$	4,202	$	27,783	$	12,393
Financing lease cost:
Amortization of leased assets		13		14		41		42
Interest on lease liabilities		2		3		7		10
Total lease cost	$	9,728	$	4,219	$	27,831	$	12,445

(1) Includes short-term and variable lease cost.

Other information regarding our leases is as follows (in thousands, except lease terms and discount rates):


	For the Nine Months Ended September 30,
	2025			2024
Supplemental cash flow information
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	14,541		$	12,864
Operating cash flows used in financing leases	$	7		$	10
Financing cash flows used in financing leases	$	33		$	8
Non-cash items:
Operating leases obtained	$	2,285		$	5,021
Financing leases obtained	$	—		$	170
Weighted average remaining lease term
Operating leases	5 years			6 years
Financing leases	2 years			2 years
Weighted average discount rate
Operating leases		7.0	%		6.9	%
Financing leases		9.1	%		9.0	%

Annual future minimum lease payments as of September 30, 2025 (in thousands):


Years ending December 31,	Operating Leases			Financing Leases
2025 (period from October 1 to December 31)	$	4,227		$	43
2026		18,795			60
2027		17,064			15
2028		14,606			—
2029		13,061			—
Thereafter		19,634			—
Total future minimum lease payments		87,387			118
Less: Amount representing interest		(14,401	)		(6	)
Present value of net minimum lease payments	$	72,986		$	112
Reported as of September 30, 2025
Accrued liabilities	$	14,244		$	83
Non-current operating lease liabilities		58,742			—
Other non-current liabilities		—			29
Total lease liabilities	$	72,986		$	112

Basis of Presentation - Additional Information (Details) - Classofcommonstock	9 Months Ended	12 Months Ended
	Sep. 30, 2025	Dec. 31, 2024
Schedule Of Summary Of Significant Accounting Policies [Line Items]
Number of classes of common stock outstanding	1	1

Commitments and Contingencies

9 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

17. Commitments and Contingencies

Contractual Commitments – We have agreements with various vendors under which we have remaining commitments to purchase hardware components and development services. Such commitments will become payable as we receive the hardware components, or as development services are provided.

On May 17, 2024, Airspan Networks Holdings Inc. (“Airspan”) filed a plan supplement to its Joint Prepackaged Chapter 11 Plan of Reorganization, Case No. 24-10621 (the “Plan”), whereby the Company and Fortress Credit Corp. (“Fortress”) agreed in principle to each provide fifty percent (50%) of a new first lien revolving facility in an aggregate committed principal amount of $20.0 million (the “New Revolving Credit Facility”). Over the course of the first seven months of 2025, Airspan borrowed the full amount of the New Revolving Credit Facility, of which $10 million was the Company’s obligation. In August 2025, the Company, Airspan and Fortress agreed to amend the New Revolving Credit Facility to remove the Company as a lender under that agreement and the outstanding amount of $10.0 million was repaid to the Company.

The Company accrued a contingent liability of $5.3 million and $5.0 million, respectively, in Accrued liabilities in the Unaudited Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 for state and local taxes in a variety of jurisdictions for periods between 2010 and 2023 related to Satcom Direct’s pre-acquisition business activities. While the

Company believes that the reserve represents the best current estimate of any potential liability in state and local taxes, there can be no assurance that the outcome of discussions with any state taxing authority will not result in the payment of state sales taxes for prior periods, or that the amount of any such payments will not be materially different than the liability currently recorded. Pursuant to the terms of the Purchase Agreement, as of September 30, 2025 and December 31, 2024 the Company has accrued a $5.3 million and $5.0 million, respectively, indemnification receivable in Prepaid expenses and other current assets in the Unaudited Condensed Consolidated Balance Sheets. See Note 2, “Acquisition of Satcom Direct,” for further information on the Purchase Agreement.

SmartSky Litigation – On February 28, 2022, SmartSky Networks, LLC (“SmartSky”) brought suit against Gogo Inc. and its subsidiary Gogo Business Aviation LLC in the U.S. District Court for the District of Delaware (the “Court”) alleging that Gogo 5G infringes four patents owned by the plaintiff. On February 21, 2023, the plaintiff amended its complaint to allege that Gogo 5G infringes two additional patents recently issued to the plaintiff. The suit seeks compensatory damages as well as treble damages for alleged willful infringement and reimbursement of plaintiff's costs, disbursements and attorneys' fees. On May 29, 2024, Gogo Inc. and its subsidiary Gogo Business Aviation LLC amended their answer and counterclaims in the same suit, alleging that three of the six patents asserted by SmartSky are unenforceable due to inequitable conduct before the U.S. Patent Office. A trial date has been scheduled for November 17, 2025. Claim construction proceedings, fact discovery and expert discovery are completed. A number of dispositive motions were filed on October 25, 2024, and Orders have been issued resolving those motions. SmartSky’s motions were denied. Gogo’s motion for summary judgment of invalidity on one of SmartSky’s asserted patents was granted. The Court has also granted Gogo’s motion for summary judgment of no lost profits and Gogo’s motion to exclude SmartSky’s damages expert’s opinions on lost profits and reasonable royalty damages. We continue to vigorously defend our position in the infringement suit. The outcome of the underlying litigation is inherently uncertain. No amounts have been accrued for any potential losses under this matter, as we cannot reasonably predict the outcome of the litigation or any potential losses.

On March 5, 2024, Gogo Inc. and its subsidiary Gogo Business Aviation LLC filed counterclaims in the same suit, alleging that SmartSky’s ATG network, Flagship equipment, and LITE ATG equipment infringe three patents owned by Gogo. Gogo’s counterclaim suit seeks an unspecified amount of compensatory damages as well as reimbursement of Gogo's costs and attorneys' fees. On April 10, 2024, the Court held that Gogo's counterclaims would proceed under a separate schedule and would be tried separately from SmartSky's claims. The court entered a scheduling order for Gogo’s counterclaims on January 14, 2025 with a trial date of March 8, 2027.

On December 16, 2024, SmartSky sued Gogo Inc. and its subsidiaries alleging that Gogo maintains an illegal monopoly over air-to-ground broadband inflight connectivity products and services and has blocked SmartSky from entering the market in violation of antitrust laws. SmartSky also alleges claims of false advertising, unfair and deceptive trade practices, and tortious interference. The suit seeks actual damages, treble damages, punitive damages, disgorgement of profits, reimbursement of plaintiff's costs, attorneys' fees, pre- and post-judgment interest, and interest on actual damages. On March 14, 2025, Gogo Inc. and its subsidiary Gogo Business Aviation LLC filed a motion to dismiss for failure to state a claim. We will vigorously defend our position in this lawsuit. The outcome of the litigation is inherently uncertain. No amounts have been accrued for any potential losses under this matter, as we cannot reasonably predict the outcome of the litigation or any potential losses.

From time to time we may become involved in legal proceedings arising in the ordinary course of our business. We cannot predict with certainty the outcome of any litigation or the potential for future litigation. With respect to such legal proceedings, we accrue a loss when it is probable and its amount can be reasonably estimated. Regardless of the outcome of any particular litigation and the merits of any particular claim, litigation can have a material adverse impact on our Company due to, among other reasons, any injunctive relief granted, which could inhibit our ability to operate our business, amounts paid as damages or in settlement of any such matter, diversion of management resources and defense costs.

Goodwill and Other Intangible Assets - Summary of Amortization Expenses (Details) $ in Thousands	Sep. 30, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025 (period from October 1 to December 31)	$ 10,351
2026	43,717
2027	43,167
2028	43,139
2029	40,481
Thereafter	$ 43,532

Acquisition of Satcom Direct - Schedule of Unaudited Proforma Consolidated Revenues and Net Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Business Combination [Line Items]
Net income		$ 22,919	$ 41,959
Satcom Direct [Member]
Business Combination [Line Items]
Total revenue	$ 226,844		672,395
Net income	$ 5,904		$ 19,906

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three- and nine-month periods ended September 30, 2025 and 2024 (in thousands, except per share amounts):


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Basic	2025			2024		2025		2024
Net income (loss)	$	(1,930	)	$	10,630	$	22,919	$	41,959
Weighted average shares outstanding		134,657			127,918		133,403		128,513
Earnings (loss) per share - basic	$	(0.01	)	$	0.08	$	0.17	$	0.33

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Diluted	2025			2024		2025		2024
Net income (loss)	$	(1,930	)	$	10,630	$	22,919	$	41,959
Average shares
Weighted average shares outstanding		134,657			127,918		133,403		128,513
Effect of dilutive securities - stock-based compensation		—			2,471		3,237		3,025
Total weighted average diluted shares outstanding		134,657			130,389		136,640		131,538
Earnings (loss) per share - diluted	$	(0.01	)	$	0.08	$	0.17	$	0.32

Business Segment

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Business Segment

13. Business Segment

The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM makes resource and operating decisions by evaluating performance and business results of the consolidated company. As a result, the Company has a single reportable segment, with net income (loss) utilized as the performance measure.

As of September 30, 2025 and December 31, 2024, the balance of total consolidated assets was $1,295.1 million and $1,229.2 million, respectively. Total consolidated capital expenditures were $34.7 million and $18.9 million, respectively, for the nine-month periods ended September 30, 2025 and 2024.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Government Assistance - Summary of Deductions to the Carrying Value of Asset Balances (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Government Assistance [Line Items]

Inventories

^[1]

$ (81,891)

$ (97,934)

Prepaids expenses and other current assets

(77,162)

(55,256)

Property and equipment, net

(115,766)

(119,125)

Other non-current assets

(36,660)

(36,870)

Operating lease right-of-use assets

(60,401)

(68,465)

FCC Reimbursement Program

Government Assistance [Line Items]

Inventories

(1,280)

(4,560)

Prepaids expenses and other current assets

(5,724)

(4,420)

Property and equipment, net

(25,097)

(5,921)

Intangible assets, net

(1,130)

(298)

Other non-current assets

(16,709)

(11,852)

Operating lease right-of-use assets

$ (3,008)

$ 0

[1]	See Note 5, “Government Assistance,” for additional information.

Acquisition of Satcom Direct

9 Months Ended

Sep. 30, 2025

Business Combination [Abstract]

Acquisition of Satcom Direct

2. Acquisition of Satcom Direct

On December 3, 2024 (the “Closing”), the Company completed its acquisition of 100% of the issued and outstanding equity interests in Satcom Direct, LLC, a Delaware limited liability company (f/k/a Satcom Direct, Inc., a Florida corporation) and certain of its affiliates and their collective subsidiaries (collectively, “Satcom Direct”), pursuant to the terms of the purchase agreement, dated as of September 29, 2024 (the “Purchase Agreement”). Satcom Direct operates worldwide with an international sales and service team based in nine countries. Satcom Direct sells its in-flight connectivity and communication services and equipment globally through their international sales force to OEMs, governments, military, and private fleet companies, among others.

In accordance with the terms of the Purchase Agreement, on the Closing, the Company purchased all of the issued and outstanding equity interests in Satcom Direct in exchange for: (i) an aggregate cash purchase amount of $375 million, subject to customary post-closing adjustments (the “Cash Consideration”), (ii) five million restricted shares (the “Stock Consideration”) of the Company’s common stock, par value of $0.0001 per share (“Common Stock”), and (iii) up to an additional $225 million in potential earnout payments of cash and/or Common Stock tied to realizing certain financial performance milestones over the next four years (the “Earnout Consideration” and, together with the Cash Consideration and Stock Consideration, the “Acquisition Consideration”). The Cash Consideration was financed via the Company’s $250 million HPS Credit Agreement (as defined below) and the remainder with cash on hand. The Earnout Consideration has an estimated fair value of $79.0 million and $53.0 million as of September 30, 2025 and December 31, 2024, respectively. As of September 30, 2025, $41.4 million of the Earnout Consideration is included in Other non-current liabilities on the Consolidated Balance Sheets with the remainder in Accrued liabilities. The entire amount of the earnout was included in Other non-current liabilities as of December 31, 2024. The fair value of the Earnout Consideration was calculated using a Monte Carlo simulation based on future gross profit projections of Satcom Direct, gross profit volatility rates of comparable companies and a risk adjusted discount rate. The fair value measurement was based on significant unobservable inputs and thus represents a Level 3 measurement.

The following table summarizes the fair value of the Acquisition Consideration at Closing (in thousands):


Estimated Aggregate Acquisition Consideration
Share consideration
Common Stock issued per the Purchase Agreement		5,000
Share price on December 2, 2024		8.10
Stock Consideration	$	40,500

Cash Consideration	$	346,900
Settlement of pre-existing relationship	$	393
Estimated fair value of Earnout Consideration	$	60,100
Preliminary fair value of estimated aggregate Acquisition Consideration	$	447,893

The Company allocated the purchase price to the net identifiable tangible and intangible assets acquired and liabilities assumed based on their preliminary estimated fair values as of the date of acquisition using the acquisition method of accounting for business combinations. The excess of the purchase price over the estimated fair value of the net assets and liabilities was allocated to goodwill. The Company determined the preliminary estimated fair values after review and consideration of relevant information as of the Closing, including discounted cash flows, quoted market prices and estimates made by management. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are preliminary based on management's estimates and assumptions and may be subject to change as additional information is received. During the nine-month period ended September 30, 2025, a measurement period adjustment was recorded to increase Goodwill by $7.8 million primarily related to the fair value of certain liabilities that were not finalized as of the Closing and deferred tax impacts related to the allocation of goodwill. The Company expects to finalize the valuation no later than one year from the Closing.


Preliminary Aggregate Purchase Price Allocation
Preliminary fair value of estimated total Acquisition Consideration	$	447,893
Assets acquired
Cash and cash equivalents	$	12,563
Accounts receivable, net of allowances		67,841
Inventories		18,528
Prepaid expenses and other current assets		13,348
Assets held for sale		16,625
Property and equipment, net		26,847
Intangible assets, net		213,300
Operating lease right-of-use assets		3,202
Other non-current assets, net of allowances		5,601
Deferred income taxes		1,367
Total assets acquired	$	379,222
Liabilities assumed
Accounts payable		62,814
Accrued liabilities		19,682
Deferred revenue		25,790
Non-current operating lease liabilities		2,706
Other non-current liabilities		12,355
Total liabilities assumed	$	123,347
Net assets acquired	$	255,875
Goodwill	$	192,018

The allocation of the purchase price presented above was based on management's preliminary estimate of the fair values of the acquired assets and assumed liabilities using valuation techniques including income, cost and market approaches. These valuation techniques incorporate the use of future projected revenues and cash flows as well as estimated discount rates. Current and noncurrent assets and liabilities are valued at historical carrying values, which approximate fair value, except as described below. The fair value measurements discussed below were based on significant inputs that are not observable and thus represent a Level 3 measurement. Inventories were valued using a combination of the comparative sales method, which estimated the expected sales price of the products, reduced by all costs expected to be incurred to complete the inventory, as well as a profit on the sale and estimated replacement cost. Assets held for sale represent the main corporate facility of Satcom Direct and associated land in Melbourne, Florida. The Company expects to sell the assets within the next twelve months. Assets held for sale were valued using the income approach less the direct costs associated with selling the assets. Property and equipment, net were valued using a combination of the cost and market approaches. Customer relationships represent the fair value of future projected revenue that will be derived from sales of connectivity services and equipment to existing customers of Satcom Direct. Customer relationships were valued using the multi-period excess earnings method. This method of valuation reflects the present value of the projected cash flows that are expected to be generated by these existing customers less charges representing the contribution of other assets to those cash flows. Software and the tradename were valued under the relief from royalty method, which is equal to the present value of the after-tax royalty savings attributable to owning the software or tradename as opposed to paying a third party for its use. The estimated fair value of operating leases was determined based on current market terms, which resulted in a net unfavorable adjustment to the right-of-use asset. After assessing the preliminary fair value of the net assets acquired and liabilities assumed, the Company recorded goodwill of $184.2 million as of December 31, 2024. As a result of subsequent measurement period adjustments, the balance of acquired goodwill increased to $192.0 million as of September 30, 2025. Of the total goodwill amount, $166.5 million is attributable to the U.S. entities and is deductible for U.S. income tax purposes. The goodwill is attributable to the assembled workforce, synergies, and economies of scale.

The following table summarizes the key information underlying identifiable finite lived intangible assets related to the Satcom Direct acquisition (in thousands):


	Weighted Average Estimated Useful Life (In Years)		Estimated Fair Value
Software		8	$	55,200
Service customer relationships		5		144,600
OEM customer relationships		8		10,300
Tradename		5		3,200
Total intangible assets				213,300

Supplemental Pro-Forma Information (Unaudited)

The following table presents supplemental pro-forma information for the three- and nine-month periods ended September 30, 2024 as if the acquisition of Satcom Direct had occurred on January 1, 2023. The amounts have been calculated after applying the Company’s accounting policies and are based upon currently available information. The unaudited pro-forma information for the period presented includes the following adjustments, where applicable, for business combination accounting effects resulting from the acquisition: (i) the change in Cost of Equipment to reflect the fair value change in inventory, (ii) incremental stock compensation expense, and adjustments for change in control bonuses that vest after the Closing as post-combination compensation expense, (iii) additional Depreciation and amortization expense related to the step up in fair value for finite-lived intangible assets and property and equipment acquired, (iv) removal of historical interest expense associated with Satcom Direct’s historical indebtedness which was extinguished upon consummation of the acquisition and the addition of interest expense related to financing the acquisition (refer to Note 9, “Long-Term Debt and Other Liabilities,” for additional information), and (v) the related tax effects assuming the acquisition occurred on January 1, 2023. Pre-acquisition revenue and net income amounts for Satcom Direct were derived from the books and records prepared prior to the acquisition and are presented for informational purposes only and do not purport to be indicative of the results of future operations or of the results that would have occurred had the acquisition taken place as of the date noted below.


	Three Months Ended		Nine Months Ended
(in thousands)	September 30, 2024		September 30, 2024
Total revenue	$	226,844	$	672,395
Net income	$	5,904	$	19,906

- Definition

The entire disclosure for business combination.

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+ Details

Composition of Certain Balance Sheet Accounts - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Property, Plant and Equipment [Line Items]

Property and equipment, gross

$ 265,811

$ 253,662

Accumulated depreciation

(150,045)

(134,537)

Total property and equipment, net

115,766

119,125

Office Equipment, Furniture, Fixtures and Other [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross

48,018

41,731

Leasehold Improvements [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross

16,756

16,193

Land and Building [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross

6,540

Network Equipment [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross

^[1]

$ 194,497

$ 189,198

[1]	See Note 5, “Government Assistance,” for additional information.

Fair Value of Financial Assets and Liabilities - Schedule of Reconciliation of Investment in Convertible Note (Details) - Convertible Note [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 26, 2024	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance at beginning of period		$ 4,207	$ 3,438	$ 4,207	$ 0
Investment	$ 5,000	0	0	0	5,000
Change in fair value		458	323	458	(1,239)
Balance at end of period		$ 4,665	$ 3,761	$ 4,665	$ 3,761

Research and Development Costs - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Research and Development [Abstract]
Research and development expense	$ 15.7	$ 9.8	$ 42.1	$ 29.3

Stock-Based Compensation and Retirement Plans

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation and Retirement Plans

15. Stock-Based Compensation and Retirement Plans

Stock-Based Compensation — As of September 30, 2025, we maintained the 2024 Omnibus Equity Incentive Plan (the “2024 Plan”). The 2024 Plan provides for the grant of both equity and cash awards, including non-qualified stock options, incentive stock options, stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units (“RSUs”), deferred share units and other stock-based awards and dividend equivalents to eligible employees, directors and consultants, as determined by the Compensation Committee of our Board of Directors. See Note 14, “Stock-Based Compensation and 401(k) Plan,” in our 2024 10-K for further information regarding the 2024 Plan. The majority of our equity grants are awarded on an annual basis.

Additionally, in connection with the Company’s acquisition of Satcom Direct on December 3, 2024, 2,275,000 shares were granted, consisting of a combination of RSUs and performance-based restricted stock units (“PSUs”) (together, the “Inducement Awards”) by the Compensation Committee. The RSUs will vest in equal annual installments over the five-year period following the grant date. The PSUs are subject to performance-based vesting and will vest when the performance-based vesting conditions are met. Though not awarded pursuant to the 2024 Plan, the Inducement Awards have been issued subject to the terms and conditions of the 2024 Plan.

For the nine-month period ended September 30, 2025, no options to purchase shares of common stock were granted, options to purchase 1,453,791 shares of common stock were exercised, no options to purchase shares of common stock were forfeited and 56,788 options to purchase shares of common stock expired.

For the nine-month period ended September 30, 2025, 2,811,345 RSUs were granted, 1,348,562 RSUs vested and 339,063 RSUs were forfeited. The fair value of the RSUs granted during the nine-month period ended September 30, 2025 was approximately $28.2 million, which will generally be recognized over a period of four years.

For the nine-month period ended September 30, 2025, 125,105 deferred stock units were granted, 208,143 vested and 11,174 were forfeited. The fair value of the deferred stock units granted during the nine-month period ended September 30, 2025 was approximately $1.2 million, which was recognized immediately.

For the nine-month period ended September 30, 2025, 86,243 shares of common stock were issued under the Employee Stock Purchase Plan.

The following is a summary of our stock-based compensation expense by operating expense line in the Unaudited Condensed Consolidated Statements of Operations (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of service revenue	$	429	$	457	$	1,271	$	1,487
Cost of equipment revenue		260		388		800		1,199
Engineering, design and development		943		1,071		2,608		3,137
Sales and marketing		865		1,054		2,226		3,229
General and administrative		4,165		2,060		11,615		5,703
Total stock-based compensation expense	$	6,662	$	5,030	$	18,520	$	14,755

Retirement Plans — We have a 401(k) plan for U.S.-based employees, as well as various defined contribution plans for international employees. Eligible U.S. employees may make tax-deferred contributions under the 401(k) plan, subject to Internal Revenue Service limitations. We match contributions towards the 401(k) plan and international defined contribution plans, subject to annual limitations. Our matching contributions were $1.0 million and $3.1 million, respectively, during the three- and nine-month periods ended September 30, 2025, and $0.6 million and $1.8 million, respectively, during the prior-year periods.

Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2025

AOCI Attributable to Parent [Abstract]

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

The following is a summary of changes in accumulated other comprehensive income (loss) by component (in thousands):


				Change in
	Currency			Fair Value of
	Translation			Cash Flow
	Adjustment			Hedges			Total
Balance at January 1, 2025	$	(1,757	)	$	7,324		$	5,567
Other comprehensive income (loss) before reclassifications		969			(842	)		127
Less: income realized and reclassified to earnings		—			4,734			4,734
Net current period comprehensive income (loss)		969			(5,576	)		(4,607	)
Balance at September 30, 2025	$	(788	)	$	1,748		$	960


				Change in
	Currency			Fair Value of
	Translation			Cash Flow
	Adjustment			Hedges			Total
Balance at January 1, 2024	$	(934	)	$	16,730		$	15,796
Other comprehensive income (loss) before reclassifications		(126	)		1,040			914
Less: income realized and reclassified to earnings		—			11,751			11,751
Net current period comprehensive income (loss)		(126	)		(10,711	)		(10,837	)
Balance at September 30, 2024	$	(1,060	)	$	6,019		$	4,959

Revenue Recognition

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

4. Revenue Recognition

Remaining performance obligations

As of September 30, 2025, the aggregate amount of the transaction price in our contracts allocated to the remaining unsatisfied performance obligations (“RPO”) was approximately $548 million and excludes consideration from contracts that have an original duration of one year or less. Approximately $539 million of the RPO primarily represents connectivity and entertainment service revenues which are recognized as services are provided, which is expected to occur through the remaining term of the contracts. Our contracts vary in length and generally have terms of two to ten years. We expect to recognize approximately 38% of our connectivity and entertainment service RPO within the next year, approximately 46% in one to five years and the remaining 16% in five to ten years. The remaining $9 million of the RPO represents future equipment revenue that is expected to be recognized primarily within the next three years as equipment is shipped.

Disaggregation of revenue

The following table presents our revenue disaggregated by category (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Service revenue by type
Satellite broadband	$	78,489	$	1,143	$	232,874	$	3,077
ATG broadband		71,051		77,664		221,235		233,229
Narrowband and other		40,416		3,050		128,424		9,153
Total service revenue by type	$	189,956	$	81,857	$	582,533	$	245,459
Service revenue by market
Business aviation	$	162,622	$	81,857	$	497,269	$	245,459
Military / Government		27,334		—		85,264		—
Total service revenue by market	$	189,956	$	81,857	$	582,533	$	245,459

Equipment revenue
Satellite broadband	$	9,511	$	55	$	20,449	$	165
ATG broadband		17,456		16,001		57,914		52,544
Narrowband and other		6,662		2,616		19,034		8,742
Total equipment revenue	$	33,629	$	18,672	$	97,397	$	61,451

Contract balances

Our current and non-current contract asset balances totaled $34.9 million and $25.0 million as of September 30, 2025 and December 31, 2024, respectively. Contract assets represent the aggregate amount of revenue recognized in excess of billings and recoverable contract costs primarily for certain sales programs.

Our current and non-current deferred revenue balances totaled $32.9 million and $41.3 million as of September 30, 2025 and December 31, 2024, respectively. Deferred revenue includes, among other things, prepayments for equipment and subscription connectivity products. For the three- and nine-month periods ended September 30, 2025, we recognized revenue of $10.0 million and $40.7 million, respectively, that was previously included in the beginning balance of deferred revenue.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Leases (Tables)

9 Months Ended

Sep. 30, 2025

Leases [Abstract]

Schedule of Lease Expense Included in Unaudited Condensed Consolidated Statements of Operations

The following is a summary of our lease expense included in the Unaudited Condensed Consolidated Statements of Operations (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Operating lease cost(1)	$	9,713	$	4,202	$	27,783	$	12,393
Financing lease cost:
Amortization of leased assets		13		14		41		42
Interest on lease liabilities		2		3		7		10
Total lease cost	$	9,728	$	4,219	$	27,831	$	12,445

(1) Includes short-term and variable lease cost.

Schedule of Other Information Regarding Leases

Other information regarding our leases is as follows (in thousands, except lease terms and discount rates):


	For the Nine Months Ended September 30,
	2025			2024
Supplemental cash flow information
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$	14,541		$	12,864
Operating cash flows used in financing leases	$	7		$	10
Financing cash flows used in financing leases	$	33		$	8
Non-cash items:
Operating leases obtained	$	2,285		$	5,021
Financing leases obtained	$	—		$	170
Weighted average remaining lease term
Operating leases	5 years			6 years
Financing leases	2 years			2 years
Weighted average discount rate
Operating leases		7.0	%		6.9	%
Financing leases		9.1	%		9.0	%

Schedule of Annual Future Minimum Lease Payments

Annual future minimum lease payments as of September 30, 2025 (in thousands):


Years ending December 31,	Operating Leases			Financing Leases
2025 (period from October 1 to December 31)	$	4,227		$	43
2026		18,795			60
2027		17,064			15
2028		14,606			—
2029		13,061			—
Thereafter		19,634			—
Total future minimum lease payments		87,387			118
Less: Amount representing interest		(14,401	)		(6	)
Present value of net minimum lease payments	$	72,986		$	112
Reported as of September 30, 2025
Accrued liabilities	$	14,244		$	83
Non-current operating lease liabilities		58,742			—
Other non-current liabilities		—			29
Total lease liabilities	$	72,986		$	112

Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ (1,930)	$ 10,630	$ 22,919	$ 41,959
Weighted average shares outstanding	134,657	127,918	133,403	128,513
Effect of dilutive securities - stock-based compensation	$ 0	$ 2,471	$ 3,237	$ 3,025
Total weighted average diluted shares outstanding	134,657	130,389	136,640	131,538
Earnings (loss) per share - basic	$ (0.01)	$ 0.08	$ 0.17	$ 0.33
Earnings (loss) per share - diluted	$ (0.01)	$ 0.08	$ 0.17	$ 0.32

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Topic 260
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

+ Details

Long-Term Debt and Other Liabilities - Additional Information (Details) $ in Thousands			1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 03, 2024 USD ($)	May 03, 2023 USD ($)	Apr. 30, 2021 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Amortization of deferred financing costs and interest rate caps				$ 888	$ 621	$ 2,587	$ 1,818
Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000
Amortization of deferred financing costs and interest rate caps				100		400
Line Of Credit Facility Description	The HPS Term Loan Facility may be prepaid at the Company’s option, at any time, without premium or penalty (other than customary breakage costs, and except that (a) during the first 12 months following the closing of the HPS Credit Agreement, certain prepayments of the HPS Term Loan Facility are subject to a 3.00% prepayment premium and (b) during the period from 12 months to 24 months following the closing of the HPS Credit Agreement, certain prepayments of the HPS Term Loan Facility are subject to a 1.00% prepayment premium), subject to minimum principal repayment amount requirements.
Floor rate	1.00%
Interest rate	0.25%
Prepayment of annual excess cash flow, Percentage	75.00%
Reduction in Prepayment of annual excess cash flow, Percentage	50.00%
Prepayment Of Net Cash Proceeds Percentage	100.00%
Prepayment Of Net Cash Proceeds Of Debt Offerings Percentage	100.00%
Aggregate principal amount				247,500		247,500		$ 249,400
Total debt				243,600		243,600		244,500
Loan origination fees						2,200
Debt issuance costs				1,700		1,700		2,100
Convertible Notes, unamortized discount				3,900		$ 3,900		4,900
2021 Creadit Agreement Member
Debt Instrument [Line Items]
Prepayment Of Net Cash Proceeds Percentage			100.00%
Prepayment Of Net Cash Proceeds Reduced Percentage			50.00%
Prepayment Of Net Cash Proceeds Maximum Reduction Percentage			0.00%
Prepayment Of Net Cash Proceeds Of Debt Offerings Percentage			100.00%
London Interbank Offered Rate [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Interest Rate On Debt	6.00%
Base Rate [Member] \| Credit Agreement [Member]
Debt Instrument [Line Items]
Interest Rate On Debt	5.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unused Borrowing Fee Percentage						0.25%
Revolving Credit Facility [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 100,000
Line Of credit facility commitment fee amount	$ 122,000
Debt instrument maturity date description	extend the maturity date of the revolving facility to December 3, 2029 (subject to such maturity date springing to the date that is 90 days prior to the then-current maturity date
Margin On LIBOR			an adjusted term SOFR rate (subject to a floor of 0.00%) plus an applicable margin ranging from 3.50% to 4.00% per annum depending on GIH’s senior secured first lien net leverage ratio or
Floor rate						0.00%
Leverage ratio			7.5
Percentage Of All Commitments			35.00%
Revolving Credit Facility [Member] \| Base Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt						4.00%
Revolving Credit Facility [Member] \| SOFR [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt						3.00%
Revolving Credit Facility [Member] \| Minimum \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Unused Borrowing Fee Percentage			0.25%
Revolving Credit Facility [Member] \| Minimum \| London Interbank Offered Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			3.50%
Revolving Credit Facility [Member] \| Minimum \| Base Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			2.50%
Revolving Credit Facility [Member] \| Maximum \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Unused Borrowing Fee Percentage			0.50%
Revolving Credit Facility [Member] \| Maximum \| London Interbank Offered Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			4.00%
Revolving Credit Facility [Member] \| Maximum \| Base Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			3.00%
Term Loan Credit Facility [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 725,000
Term loan discount rate			0.50%
Margin On LIBOR			an adjusted term secured overnight financing rate as administered by the Federal Reserve Bank of New York (“SOFR”) (subject to a floor of 0.75%) plus an applicable margin of 3.75% and a credit spread adjustment of approximately 0.11%, 0.26% or 0.43% per annum based on 1-month, 3-month or 6-month term SOFR, respectively or
Floor rate			0.75%
Reduction in Prepayment of annual excess cash flow, Percentage			25.00%
Revolving Credit Aggregate Principal Amount		$ 100,000
Term Loan Credit Facility [Member] \| London Interbank Offered Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			3.75%
Term Loan Credit Facility [Member] \| Base Rate [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Interest Rate On Debt			2.75%
Line Of Credit [Member] \| Term Loan Credit Facility [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Prepayment of annual excess cash flow, Percentage			50.00%
2024 Senior Secured Notes [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs and interest rate caps				700	$ 600	$ 2,200	$ 1,800
Aggregate principal amount				601,400		601,400		601,400
Total debt				600,100		600,100		599,800
Debt issuance costs				8,200		8,200		10,400
Convertible Notes, unamortized discount				$ 1,300		1,300		$ 1,700
2024 Senior Secured Notes [Member] \| 2021 Creadit Agreement Member
Debt Instrument [Line Items]
Loan origination fees						$ 21,600

Fair Value of Financial Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Feb. 26, 2024	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment interest rate	5.00%
Convertible Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Payments to acquire investments	$ 5,000	$ 0	$ 0	$ 0	$ 5,000

- Definition

Rate of interest on investment.

+ References

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+ Details

Stock-Based Compensation and Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expense by Operating Expense

The following is a summary of our stock-based compensation expense by operating expense line in the Unaudited Condensed Consolidated Statements of Operations (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of service revenue	$	429	$	457	$	1,271	$	1,487
Cost of equipment revenue		260		388		800		1,199
Engineering, design and development		943		1,071		2,608		3,137
Sales and marketing		865		1,054		2,226		3,229
General and administrative		4,165		2,060		11,615		5,703
Total stock-based compensation expense	$	6,662	$	5,030	$	18,520	$	14,755

Acquisition of Satcom Direct - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Liabilities assumed
Goodwill, Total	$ 192,638	$ 184,831
Satcom Direct [Member]
Assets acquired
Preliminary fair value of estimated total Acquisition Consideration	447,893
Cash and cash equivalents	12,563
Accounts receivable, net of allowances	67,841
Inventories	18,528
Prepaid expenses and other current assets	13,348
Assets held for sale	16,625
Property and equipment, net	26,847
Intangible assets, net	213,300
Operating lease right-of-use assets	3,202
Other non-current assets, net of allowances	5,601
Deferred income taxes	1,367
Total assets acquired	379,222
Liabilities assumed
Accounts payable	62,814
Accrued liabilities	19,682
Deferred revenue	25,790
Non-current operating lease liabilities	2,706
Other non-current liabilities	12,355
Total liabilities assumed	123,347
Net assets acquired	255,875
Goodwill, Total	$ 192,018

Composition of Certain Balance Sheet Accounts - Schedule of Components of Inventories (Details) - USD ($)
$ in Thousands

Sep. 30, 2025

Dec. 31, 2024

Inventory Disclosure [Abstract]

Work-in-process component parts

$ 39,845

$ 53,633

Finished goods

42,046

44,301

Total inventory

^[1]

$ 81,891

$ 97,934

[1]	See Note 5, “Government Assistance,” for additional information.

Goodwill and Other Intangible Assets - Schedule of Changes in the carrying value of goodwill by reportable segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2025 USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 184,831
Measurement period adjustment	7,807
Goodwill, Ending Balance	$ 192,638

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Weighted-average number of shares	33.8	2.2	26.5	2.4

Interest Costs

9 Months Ended

Sep. 30, 2025

Text Block [Abstract]

Interest Costs

11. Interest Costs

We capitalize a portion of our interest on funds borrowed during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and amortized over the useful lives of the assets.

The following is a summary of our interest costs for the three- and nine-month periods ended September 30, 2025 and 2024 (in thousands):


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
Interest costs charged to expense	$	17,981		$	13,098		$	53,079		$	39,698
Amortization of deferred financing costs		888			621			2,587			1,818
Amortization of the purchase price of interest rate caps		379			575			1,609			1,967
Interest rate cap benefit		(2,013	)		(4,730	)		(7,918	)		(17,599	)
Accretion of debt discount		446			106			1,293			309
Interest expense		17,681			9,670			50,650			26,193
Interest costs capitalized to property and equipment		964			740			2,859			1,948
Interest costs capitalized to software		334			396			1,287			940
Total interest costs	$	18,979		$	10,806		$	54,796		$	29,081

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (1,930)	$ 10,630	$ 22,919	$ 41,959
Other comprehensive income (loss), net of tax
Currency translation adjustments	(59)	131	969	(126)
Cash flow hedges:
Amount recognized in other comprehensive income	18	(4,039)	(842)	1,040
Less: income realized and reclassified to earnings	1,226	3,124	4,734	11,751
Changes in fair value of cash flow hedges	(1,208)	(7,163)	(5,576)	(10,711)
Other comprehensive income (loss), net of tax	(1,267)	(7,032)	(4,607)	(10,837)
Comprehensive income (loss)	$ (3,197)	$ 3,598	$ 18,312	$ 31,122

Government Assistance (Tables)

9 Months Ended

Sep. 30, 2025

Government Assistance [Abstract]

Schedule of Deductions to Carrying Value of Asset Balances

The following are the deductions to the carrying value of asset balances in our Unaudited Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 (in thousands):


	As of September 30,			As of December 31,
	2025			2024
Assets:
Inventories	$	(1,280	)	$	(4,560	)
Prepaids expenses and other current assets		(5,724	)		(4,420	)
Property and equipment, net		(25,097	)		(5,921	)
Intangible assets, net		(1,130	)		(298	)
Other non-current assets		(16,709	)		(11,852	)
Operating lease right-of-use assets		(3,008	)		—

Schedule of Increases to Net Income

The following are the increases to Net income in our Unaudited Condensed Consolidated Statements of Operations for the three- and nine-month periods ended September 30, 2025 and 2024 (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Revenue:
Service revenue	$	2,037	$	796	$	5,631	$	2,239
Operating expenses:
Cost of service revenue		514		100		554		610
Cost of equipment revenue		1,478		3,647		5,720		10,415
General and administrative		115		50		302		231

Unaudited Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Accumulated Deficit	Treasury Stock
Beginning Balance, shares						9,169,941
Beginning Balance at Dec. 31, 2023	$ 40,725	$ 14	$ 1,402,003	$ 15,796	$ (1,213,891)	$ (163,197)
Beginning Balance, shares at Dec. 31, 2023		128,462,343
Net income	41,959				41,959
Currency translation adjustments, net of tax	(126)			(126)
Fair value adjustments of cash flow hedges, net of tax	(10,711)			(10,711)
Stock-based compensation expense	14,755		14,755
Issuance of common stock upon exercise of stock options	592		592
Issuance of common stock upon exercise of stock options, shares		221,854
Issuance of common stock upon vesting of restricted stock units, Shares		1,094,975
Tax withholding related to vesting of restricted stock units	(3,508)		(3,508)
Repurchase of common stock, shares		(3,638,522)				3,638,522
Repurchase of common stock, value	(30,962)		0			$ (30,962)
Ending Balance at Sep. 30, 2024	52,724	$ 14	1,413,842	4,959	(1,171,932)	$ (194,159)
Ending Balance, shares at Sep. 30, 2024		126,140,650
Beginning Balance, shares						11,793,865
Beginning Balance at Jun. 30, 2024	52,011	$ 14	1,409,060	11,991	(1,182,562)	$ (186,492)
Beginning Balance, shares at Jun. 30, 2024		126,882,774
Net income	10,630				10,630
Currency translation adjustments, net of tax	131			131
Fair value adjustments of cash flow hedges, net of tax	(7,163)			(7,163)
Stock-based compensation expense	5,030		5,030
Issuance of common stock upon exercise of stock options	298		298
Issuance of common stock upon exercise of stock options, shares		109,382
Issuance of common stock upon vesting of restricted stock units, Shares		163,092
Tax withholding related to vesting of restricted stock units	(546)		(546)
Repurchase of common stock, shares		(1,014,598)				(1,014,598)
Repurchase of common stock, value	(7,667)					$ (7,667)
Ending Balance at Sep. 30, 2024	52,724	$ 14	1,413,842	4,959	(1,171,932)	$ (194,159)
Ending Balance, shares at Sep. 30, 2024		126,140,650
Beginning Balance, shares						12,808,463
Beginning Balance, shares						13,176,999
Beginning Balance at Dec. 31, 2024	69,324	$ 14	1,460,270	5,567	(1,200,145)	$ (196,382)
Beginning Balance, shares at Dec. 31, 2024		130,918,997
Net income	22,919				22,919
Currency translation adjustments, net of tax	969			969
Fair value adjustments of cash flow hedges, net of tax	(5,576)			(5,576)
Stock-based compensation expense	18,520		18,520
Issuance of common stock upon exercise of stock options	$ 4,739	$ 1	4,738
Issuance of common stock upon exercise of stock options, shares	1,453,791	1,453,791
Issuance of common stock upon vesting of restricted stock units, Shares		1,395,311
Tax withholding related to vesting of restricted stock units	$ (4,568)		(4,568)
Issuance of common stock in connection with employee stock purchase plan	629		629
Issuance of common stock in connection with employee stock purchase plan, Shares		86,243
Retirement of treasury stock, Amount	0	$ (2)	(196,380)			$ 196,382
Retirement of treasury stock, Shares						(13,176,999)
Ending Balance at Sep. 30, 2025	106,956	$ 13	1,283,209	960	(1,177,226)	$ 0
Ending Balance, shares at Sep. 30, 2025		133,854,342
Beginning Balance, shares						13,176,999
Beginning Balance at Jun. 30, 2025	102,790	$ 15	1,472,226	2,227	(1,175,296)	$ (196,382)
Beginning Balance, shares at Jun. 30, 2025		133,334,288
Net income	(1,930)				(1,930)
Currency translation adjustments, net of tax	(59)			(59)
Fair value adjustments of cash flow hedges, net of tax	(1,208)			(1,208)
Stock-based compensation expense	6,662		6,662
Issuance of common stock upon exercise of stock options	1,079		1,079
Issuance of common stock upon exercise of stock options, shares		154,271
Issuance of common stock upon vesting of restricted stock units, Shares		343,763
Tax withholding related to vesting of restricted stock units	(591)		(591)
Issuance of common stock in connection with employee stock purchase plan	213		213
Issuance of common stock in connection with employee stock purchase plan, Shares		22,020
Retirement of treasury stock, Amount		$ (2)	(196,380)			$ 196,382
Retirement of treasury stock, Shares						(13,176,999)
Ending Balance at Sep. 30, 2025	$ 106,956	$ 13	$ 1,283,209	$ 960	$ (1,177,226)	$ 0
Ending Balance, shares at Sep. 30, 2025		133,854,342
Beginning Balance, shares						0

Long-Term Debt and Other Liabilities

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Long-Term Debt and Other Liabilities

9. Long-Term Debt and Other Liabilities

Long-term debt as of September 30, 2025 and December 31, 2024 was as follows (in thousands):


	September 30,			December 31,
	2025			2024
2021 Term Loan Facility	$	600,108		$	599,776
HPS Term Loan Facility		243,556			244,469
Less: deferred financing costs		(8,134	)		(10,164	)
Less: current portion of long-term debt		(2,500	)		(2,500	)
Total long-term debt	$	833,030		$	831,581

2021 Credit Agreement

On April 30, 2021, Gogo and Gogo Intermediate Holdings LLC (“GIH”) (a wholly owned subsidiary of Gogo) entered into a credit agreement (the “Original 2021 Credit Agreement,” and, as it may be amended, supplemented or otherwise modified from time to time, the “2021 Credit Agreement”) among Gogo, GIH, the lenders and issuing banks party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent, which provides for (i) a term loan credit facility (the “2021 Term Loan Facility”) in an aggregate principal amount of $725.0 million, issued with a discount of 0.5%, and (ii) a revolving credit facility (the “Revolving Facility” and together with the 2021 Term Loan Facility, the “2021 Facilities”) of up to $100.0 million, which includes a letter of credit sub-facility. The 2021 Term Loan Facility matures on April 30, 2028.

On December 3, 2024, Gogo and GIH entered into a second amendment to the 2021 Credit Agreement, by and among, Gogo, GIH, guarantors party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent, and the lenders party thereto, among other purposes, (a) increase the aggregate principal amount of revolving commitments available under the 2021 Credit Agreement to an aggregate amount of revolving commitments equal to $122 million and (b) extend the maturity date of the revolving facility to December 3, 2029 (subject to such maturity date springing to the date that is 90 days prior to the then-current maturity date of (a) the 2021 Term Loan Facility under the 2021 Credit Agreement and (b) the HPS Term Loan Facility under the HPS Credit Agreement under certain conditions).

The 2021 Term Loan Facility amortizes in nominal quarterly installments equal to one percent of the aggregate initial principal amount thereof per annum, with the remaining balance payable upon final maturity of the 2021 Term Loan Facility. There are no amortization payments under the Revolving Facility.

The 2021 Term Loan Facility bears annual interest at a floating rate measured by reference to, at GIH’s option, either (i) an adjusted term secured overnight financing rate as administered by the Federal Reserve Bank of New York (“SOFR”) (subject to a floor of 0.75%) plus an applicable margin of 3.75% and a credit spread adjustment of approximately 0.11%, 0.26% or 0.43% per annum based on 1-month, 3-month or 6-month term SOFR, respectively or (ii) an alternate base rate plus an applicable margin of 2.75%.

Loans outstanding under the Revolving Facility bear annual interest at a floating rate measured by reference to, at GIH’s option, either (i) an adjusted term SOFR rate (subject to a floor of 0.00%) plus an applicable margin ranging from 3.50% to 4.00% per annum depending on GIH’s senior secured first lien net leverage ratio or (ii) an alternate base rate plus an applicable margin ranging from 2.50% to 3.00% per annum depending on GIH’s senior secured first lien net leverage ratio. Additionally, unused commitments under the Revolving Facility are subject to a fee ranging from 0.25% to 0.50% per annum depending on GIH’s senior secured first lien net leverage ratio. As of September 30, 2025, the fee for unused commitments under the Revolving Facility was 0.25% and the applicable margin was 4.00% for SOFR rate loans and 3.00% for alternate rate loans.

The 2021 Facilities may be prepaid at GIH’s option at any time without premium or penalty (other than customary breakage costs), subject to minimum principal payment amount requirements. On May 3, 2023, the Company prepaid $100 million of the outstanding principal amount of the 2021 Term Loan Facility. This prepayment satisfied the required amortization payments for the remaining term of the 2021 Term Loan Facility.

Subject to certain exceptions and de minimis thresholds, the 2021 Term Loan Facility is subject to mandatory prepayments in an amount equal to:

•

100% of the net cash proceeds of certain asset sales, insurance recovery and condemnation events, subject to reduction to 50% and 0% if specified senior secured first lien net leverage ratio targets are met;

•

100% of the net cash proceeds of certain debt offerings; and

•

50% of annual excess cash flow (as defined in the 2021 Credit Agreement), subject to reduction to 25% and 0% if specified senior secured first lien net leverage ratio targets are met.

The 2021 Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants. The negative covenants include restrictions on, among other things: incurrence of indebtedness or issuance of disqualified equity interests; incurrence or existence of liens; consolidations or mergers; activities of Gogo and any subsidiary holding a license issued by the FCC; investments, loans, advances, guarantees or acquisitions; asset sales; dividends or other distributions on equity; purchase, redemption or retirement of capital stock; payment or redemption of certain junior indebtedness; entry into other agreements that restrict the ability to incur liens securing the 2021 Facilities; and amendment of organizational documents; in each case subject to customary exceptions.

The Revolving Facility includes a financial covenant set at a maximum senior secured first lien net leverage ratio of 7.50:1.00, which will apply if the outstanding amount of loans and unreimbursed letter of credit drawings thereunder at the end of any fiscal quarter exceeds 35% of the aggregate of all commitments thereunder.

The 2021 Credit Agreement contains customary events of default, which, if any of them occurred, would permit or require the principal, premium, if any, and interest on all of the then outstanding obligations under the 2021 Facilities to be due and payable immediately and the commitments under the Revolving Facility to be terminated.

The Revolving Facility is available for working capital and general corporate purposes of GIH and its subsidiaries and was undrawn as of September 30, 2025 and December 31, 2024.

As of both September 30, 2025 and December 31, 2024, the outstanding principal amount of the 2021 Term Loan Facility was $601.4 million, the unaccreted debt discount was $1.3 million and $1.7 million, respectively, and the net carrying amount was $600.1 million and $599.8 million, respectively.

We paid approximately $21.6 million of loan origination and financing costs related to the 2021 Facilities, which are being accounted for as deferred financing costs on our Unaudited Condensed Consolidated Balance Sheets and are amortized over the terms of the 2021 Facilities. Total amortization expense was $0.7 million and $2.2 million, respectively, for the three- and nine-month periods ended September 30, 2025 and $0.6 million and $1.8 million, respectively, for the prior-year periods and is included in interest expense in our Unaudited Condensed Consolidated Statements of Operations. As of September 30, 2025 and December 31, 2024, the balance of unamortized deferred financing costs related to the 2021 Facilities was $8.2 million and $10.4 million, respectively.

On April 30, 2021, Gogo, GIH, and each direct and indirect wholly-owned U.S. restricted subsidiary of GIH (Gogo and such subsidiaries collectively, the “Guarantors”) entered into a guarantee agreement (the “Guarantee Agreement”) in favor of Morgan Stanley Senior Funding, Inc., as collateral agent (the “Collateral Agent”), whereby GIH and the Guarantors guarantee the obligations under the 2021 Facilities and certain other secured obligations as set forth in the Guarantee Agreement, and GIH and the Guarantors entered into a collateral agreement (the “Collateral Agreement”), in favor of the Collateral Agent, whereby GIH and the Guarantors grant a security interest in substantially all of their respective tangible and intangible assets (including the equity interests in each direct material wholly-owned U.S. restricted subsidiary owned by GIH or any Guarantor, and 65% of the equity interests in any non-U.S. subsidiary held directly by GIH or any Guarantor), subject to certain exceptions, to secure the obligations under the 2021 Facilities and certain other secured obligations as set forth in the Collateral Agreement. The liens granted under the 2021 Term Loan Facility are subject to an intercreditor agreement and are pari passu with the liens granted under the HPS Term Loan Facility (as defined below).

HPS Credit Agreement

On December 3, 2024, the Company and GIH entered into a credit agreement (the “HPS Credit Agreement” and together with the 2021 Credit Agreement, the “Credit Agreements”) with HPS Investment Partners, LLC, as the administrative agent, and the lenders party thereto, which provides for a term loan credit facility (the “HPS Term Loan Facility”) in an aggregate principal amount of $250 million. The HPS Term Loan Facility amortizes in quarterly installments equal to one percent of the aggregate initial principal amount thereof per annum, with the remaining balance payable upon final maturity of the HPS Term Loan Facility on April 30, 2028.

The HPS Term Loan Facility bears annual interest at a floating rate measured by reference to, at the Company’s option, either (i) an adjusted term SOFR (subject to a floor of 1.00%) plus an initial applicable margin of 6.00%, which is subject to two leverage-based step-downs of up to 0.25% each or (ii) an alternate base rate plus an applicable margin of 5.00%, which is subject to two leverage-based step-downs of up to 0.25% each.

The HPS Term Loan Facility may be prepaid at the Company’s option, at any time, without premium or penalty (other than customary breakage costs, and except that (a) during the first 12 months following the closing of the HPS Credit Agreement, certain prepayments of the HPS Term Loan Facility are subject to a 3.00% prepayment premium and (b) during the period from 12 months to

24 months following the closing of the HPS Credit Agreement, certain prepayments of the HPS Term Loan Facility are subject to a 1.00% prepayment premium), subject to minimum principal repayment amount requirements.

Subject to certain exceptions and de minimis thresholds, the HPS Term Loan Facility is subject to mandatory prepayments in an amount equal to:

•

100% of the net cash proceeds of certain asset sales, insurance recovery and condemnation events;

•

100% of the net cash proceeds of certain debt offerings; and

•

75% of annual excess cash flow (as defined in the HPS Credit Agreement), subject to reduction to 50% if specified senior secured first lien net leverage ratio targets are met.

The HPS Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants. The negative covenants include restrictions on, among other things: the incurrence of indebtedness or issuance of disqualified equity interests; the incurrence or existence of liens; consolidations or mergers; activities of the Company; the making of investments, loans, advances, guarantees or acquisitions; asset sales; the making of dividends or other distributions on equity; the purchase, redemption or retirement of capital stock; payment or redemption of certain junior indebtedness; activities of Federal Communications Commission license holders; entry into other agreements that restrict the ability to incur liens securing the HPS Term Loan Facility.

The HPS Credit Agreement contains customary events of default, which, if any of them occurred, would permit or require the principal, premium, if any, and interest on all of the then outstanding obligations under the HPS Term Loan Facility to be due and payable immediately.

As of September 30, 2025 and December 31, 2024, the outstanding principal amount of the HPS Term Loan Facility was $247.5 million and $249.4 million, respectively, the unaccreted debt discount was $3.9 million and $4.9 million, respectively, and the net carrying amount was $243.6 million and $244.5 million, respectively.

We paid approximately $2.2 million of loan origination and financing costs related to the HPS Credit Agreement which are being accounted for as deferred financing costs on our consolidated balance sheets and are amortized over the term of the HPS Credit Agreement. Total amortization expense was $0.1 million and $0.4 million, respectively, for the three- and nine-month periods ended September 30, 2025 and is included in interest expense in our Unaudited Condensed Consolidated Statements of Operations. As of September 30, 2025 and December 31, 2024 the balance of unamortized deferred financing costs related to the HPS Credit Agreement was $1.7 million and $2.1 million, respectively.

On December 3, 2024, Gogo, GIH, and the Guarantors entered into a guarantee agreement (the “HPS Guarantee Agreement”) in favor of HPS Investment Partners, LLC, as collateral agent (the “HPS Collateral Agent”), whereby GIH and the Guarantors guarantee the obligations under the HPS Term Loan Facility and certain other secured obligations as set forth in the HPS Guarantee Agreement, and GIH and the Guarantors entered into a collateral agreement (the “HPS Collateral Agreement”), in favor of the Collateral Agent, whereby GIH and the Guarantors grant a security interest in substantially all of their respective tangible and intangible assets (including the equity interests in each direct material wholly-owned U.S. restricted subsidiary owned by GIH or any Guarantor, and 65% of the equity interests in any non-U.S. subsidiary held directly by GIH or any Guarantor), subject to certain exceptions, to secure the obligations under the HPS Term Loan Facility and certain other secured obligations as set forth in the HPS Collateral Agreement. The liens granted under the HPS Term Loan Facility are subject to an intercreditor agreement and are pari passu with the liens granted under the 2021 Term Loan Facility.

Interest Costs - Summary of Interest Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Schedule of Interest [Line Items]
Interest costs charged to expense	$ 17,981	$ 13,098	$ 53,079	$ 39,698
Amortization of deferred financing costs	888	621	2,587	1,818
Amortization of the purchase price of interest rate caps	379	575	1,609	1,967
Interest rate cap benefit	(2,013)	(4,730)	(7,918)	(17,599)
Accretion of debt discount	446	106	1,293	309
Interest expense	17,681	9,670	50,650	26,193
Total interest costs	18,979	10,806	54,796	29,081
Property and Equipment [Member]
Schedule of Interest [Line Items]
Interest costs capitalized	964	740	2,859	1,948
Software [Member]
Schedule of Interest [Line Items]
Interest costs capitalized	$ 334	$ 396	$ 1,287	$ 940

Stock-Based Compensation and Retirement Plans - Summary of Stock-Based Compensation Expense by Operating Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 6,662	$ 5,030	$ 18,520	$ 14,755
Cost of Service Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	429	457	1,271	1,487
Cost of Equipment Revenue [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	260	388	800	1,199
Engineering, Design and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	943	1,071	2,608	3,137
Sales and Marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	865	1,054	2,226	3,229
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 4,165	$ 2,060	$ 11,615	$ 5,703

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Interest Rate Derivates (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Derivatives Fair Value [Line Items]
Prepaid expenses and other current assets	$ 77,162	$ 55,256
Other non-current assets, net of allowances of $450 and $861, respectively	36,660	36,870
Interest Rate Cap Current
Derivatives Fair Value [Line Items]
Derivative Asset	3,494	7,351
Interest Rate Cap Non Current
Derivatives Fair Value [Line Items]
Derivative Asset	$ 1,476	$ 6,660

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

Composition of Certain Balance Sheet Accounts - Schedule of Other Non-Current Assets (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Other Assets, Noncurrent [Abstract]
Contract with Customer, Asset, Accumulated Allowance for Credit Loss, Noncurrent	$ 450	$ 861

Leases - Schedule of Other Information Regarding Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows used in operating leases	$ 14,541	$ 12,864
Operating cash flows used in financing leases	7	10
Financing cash flows used in financing leases	33	8
Non-cash items:
Operating leases obtained	2,285	5,021
Financing leases obtained	$ 0	$ 170
Weighted average remaining lease term
Operating leases	5 years	6 years
Financing leases	2 years	2 years
Weighted average discount rate
Operating leases	7.00%	6.90%
Financing leases	9.10%	9.00%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Long-Term Debt and Other Liabilities - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Less: deferred financing costs	$ (8,134)	$ (10,164)
Less: current portion of long-term debt	(2,500)	(2,500)
Total long-term debt	833,030	831,581
2021 Term Loan Facility [Member]
Debt Instrument [Line Items]
Term Loan Facility	600,108	599,776
HPS Term-Loan Facility [Member]
Debt Instrument [Line Items]
Term Loan Facility	$ 243,556	$ 244,469

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt and Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt as of September 30, 2025 and December 31, 2024 was as follows (in thousands):


	September 30,			December 31,
	2025			2024
2021 Term Loan Facility	$	600,108		$	599,776
HPS Term Loan Facility		243,556			244,469
Less: deferred financing costs		(8,134	)		(10,164	)
Less: current portion of long-term debt		(2,500	)		(2,500	)
Total long-term debt	$	833,030		$	831,581

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Revenue:
Total revenue	$ 223,585	$ 100,529	$ 679,930	$ 306,910
Operating expenses:
Cost of service revenue (exclusive of amounts shown below)	91,593	19,051	277,023	55,793
Cost of equipment revenue (exclusive of amounts shown below)	31,032	15,165	88,039	47,383
Engineering, design and development	15,681	9,759	42,078	29,279
Sales and marketing	13,464	8,551	42,415	25,870
General and administrative	27,858	24,917	86,010	61,416
Depreciation and amortization	15,214	4,015	44,474	11,743
Total operating expenses	194,842	81,458	580,039	231,484
Operating income	28,743	19,071	99,891	75,426
Other expense (income):
Interest income	(1,479)	(2,419)	(3,251)	(6,587)
Interest expense	17,681	9,670	50,650	26,193
Change in fair value of earnout liability	15,000	0	18,900	0
Other expense (income), net	(1,896)	(332)	(1,811)	1,286
Total other expense	29,306	6,919	64,488	20,892
Income (loss) before income taxes	(563)	12,152	35,403	54,534
Income tax provision	1,367	1,522	12,484	12,575
Net income (loss)	$ (1,930)	$ 10,630	$ 22,919	$ 41,959
Net income (loss) attributable to common stock per share:
Basic	$ (0.01)	$ 0.08	$ 0.17	$ 0.33
Diluted	$ (0.01)	$ 0.08	$ 0.17	$ 0.32
Weighted average number of shares:
Weighted average shares outstanding basic	134,657	127,918	133,403	128,513
Weighted average shares outstanding diluted	134,657	130,389	136,640	131,538
Service [Member]
Revenue:
Total revenue	$ 189,956	$ 81,857	$ 582,533	$ 245,459
Product [Member]
Revenue:
Total revenue	$ 33,629	$ 18,672	$ 97,397	$ 61,451

Income Tax

9 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Tax

14. Income Tax

The effective income tax rates for the three- and nine-month periods ended September 30, 2025 were (242.8)% and 35.3%, respectively, compared to 12.5% and 23.1%, respectively, for the prior-year periods. For the three-month period ended September 30, 2025, our effective income tax rate was lower than the U.S. federal statutory rate of 21% primarily due to a small pretax loss and nondeductible officer’s compensation. For the nine-month period ended September 30, 2025, our effective income tax rate was higher than the U.S. federal statutory rate of 21% primarily due to state income taxes and nondeductible officer's compensation partially

offset by tax benefits related to domestic research and development tax credits. For the three-month period ended September 30, 2024, our effective income tax rate was lower than the U.S. federal statutory rate of 21% primarily due to deferred tax adjustments and tax benefits related to domestic research and development tax credits, partially offset by state income taxes. For the nine-month period ended September 30, 2024, our effective income tax rate was higher than the U.S. federal statutory rate of 21% primarily due to state income taxes and stock-based compensation partially offset by tax benefits related to domestic research and development tax credits and deferred tax adjustments.

We regularly assess the need for a valuation allowance related to our deferred income tax assets to determine, based on the weight of all available positive and negative evidence, whether it is more likely than not that some or all of such deferred assets will not be realized. In our assessments, the Company considers recent financial operating results, the scheduled expiration of our net operating losses, future taxable income, the reversal of existing taxable differences, and tax planning strategies. The remaining valuation allowance is still required for deferred tax assets related to foreign net operating losses and capital loss carryforwards as it is more likely than not as of September 30, 2025 that these deferred tax assets will not be realized.

We are subject to taxation and file income tax returns in the United States, various states, and several foreign jurisdictions including, but not limited to, Canada, Switzerland, United Kingdom, Australia, Brazil and Singapore. With a few exceptions, as of September 30, 2025, we are no longer subject to U.S. federal, state, local or foreign examinations by tax authorities for years before 2021.

We record penalties and interest relating to uncertain tax positions in the income tax provision line item in the Unaudited Condensed Consolidated Statements of Operations. No penalties or interest related to uncertain tax positions were recorded for the three- and nine-month periods ended September 30, 2025 and 2024, and as of September 30, 2025 and December 31, 2024, we did not have a liability recorded for interest or potential penalties.

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. This legislation includes changes to U.S. federal tax law, which may be subject to further clarification and the issuance of interpretive guidance. We are assessing the legislation and its effect on our consolidated financial statements. Currently, however, we do not anticipate the provisions of the OBBBA will have a material impact on our effective income tax rate.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2025	Oct. 31, 2025
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Entity Interactive Data Current	Yes
Entity Central Index Key	0001537054
Document Fiscal Period Focus	Q3
Document Period End Date	Sep. 30, 2025
Document Fiscal Year Focus	2025
Entity Registrant Name	Gogo Inc.
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Common Stock, Shares Outstanding		133,854,342
Entity Address, Country	CO
Document Transition Report	false
Document Quarterly Report	true
Securities Act File Number	001-35975
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1650905
Entity Address, Address Line One	105 Edgeview Dr
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Broomfield
Entity Address, Postal Zip Code	80021
City Area Code	303
Local Phone Number	301-3271
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	GOGO
Security Exchange Name	NASDAQ
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Trading Symbol	GOGO
Security Exchange Name	NASDAQ

Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Share

3. Earnings Per Share

Basic and diluted earnings per share have been calculated using the weighted average number of common shares outstanding for the period. Diluted earnings per share was computed using the treasury stock method for stock-based compensation. Contingently issuable shares are only included in the diluted earnings per share computation once all necessary conditions have been satisfied.

The diluted earnings per share calculations exclude the effect of stock options, deferred stock units, performance stock units, restricted stock units and the potential Earnout Consideration when the computation is anti-dilutive. For the three- and nine-month periods ended September 30, 2025, the weighted average number of shares excluded from the computation was 33.8 million and 26.5 million, respectively. For the three- and nine-month periods ended September 30, 2024 the weighted average number of shares excluded from the computation was 2.2 million and 2.4 million, respectively.


	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Basic	2025			2024		2025		2024
Net income (loss)	$	(1,930	)	$	10,630	$	22,919	$	41,959
Weighted average shares outstanding		134,657			127,918		133,403		128,513
Earnings (loss) per share - basic	$	(0.01	)	$	0.08	$	0.17	$	0.33

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
Diluted	2025			2024		2025		2024
Net income (loss)	$	(1,930	)	$	10,630	$	22,919	$	41,959
Average shares
Weighted average shares outstanding		134,657			127,918		133,403		128,513
Effect of dilutive securities - stock-based compensation		—			2,471		3,237		3,025
Total weighted average diluted shares outstanding		134,657			130,389		136,640		131,538
Earnings (loss) per share - diluted	$	(0.01	)	$	0.08	$	0.17	$	0.32

Derivative Instruments and Hedging Activities - Schedule of Notional Amounts Strike Rates and End Dates of the Cap Agreements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	May 31, 2021
Derivative [Line Items]
Notional Amounts		$ 650,000
0.75% due on 7/31/2021
Derivative [Line Items]
Start Date	Jul. 31, 2021
End Date	Jul. 30, 2023
Notional Amounts	$ 650,000
Strike Rate	0.75%
0.75% due on 7/31/2023
Derivative [Line Items]
Start Date	Jul. 31, 2023
End Date	Jul. 30, 2024
Notional Amounts	$ 525,000
Strike Rate	0.75%
1.25% due on 7/31/2024
Derivative [Line Items]
Start Date	Jul. 31, 2024
End Date	Jul. 30, 2025
Notional Amounts	$ 350,000
Strike Rate	1.25%
2.25% due on 7/31/2025
Derivative [Line Items]
Start Date	Jul. 31, 2025
End Date	Jul. 30, 2026
Notional Amounts	$ 250,000
Strike Rate	2.25%
2.75% due on 7/31/2027
Derivative [Line Items]
Start Date	Jul. 31, 2026
End Date	Jul. 30, 2027
Notional Amounts	$ 200,000
Strike Rate	2.75%

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2025

AOCI Attributable to Parent [Abstract]

Accumulated Other Comprehensive Income (Loss)

18. Accumulated Other Comprehensive Income (Loss)

The following is a summary of changes in accumulated other comprehensive income (loss) by component (in thousands):


				Change in
	Currency			Fair Value of
	Translation			Cash Flow
	Adjustment			Hedges			Total
Balance at January 1, 2025	$	(1,757	)	$	7,324		$	5,567
Other comprehensive income (loss) before reclassifications		969			(842	)		127
Less: income realized and reclassified to earnings		—			4,734			4,734
Net current period comprehensive income (loss)		969			(5,576	)		(4,607	)
Balance at September 30, 2025	$	(788	)	$	1,748		$	960


				Change in
	Currency			Fair Value of
	Translation			Cash Flow
	Adjustment			Hedges			Total
Balance at January 1, 2024	$	(934	)	$	16,730		$	15,796
Other comprehensive income (loss) before reclassifications		(126	)		1,040			914
Less: income realized and reclassified to earnings		—			11,751			11,751
Net current period comprehensive income (loss)		(126	)		(10,711	)		(10,837	)
Balance at September 30, 2024	$	(1,060	)	$	6,019		$	4,959

Stock-Based Compensation and Retirement Plans - Additional Information (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Dec. 03, 2024	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Stock options, shares granted				0
Stock options, shares exercised				1,453,791
Stock options, shares forfeited				0
Stock options, shares expired				56,788
Employer contribution		$ 1.0	$ 0.6	$ 3.1	$ 1.8
Employee Stock Purchase Plan [Member]
Common stock, shares issued under ESPP				86,243
Restricted Stock Units (RSUs) [Member]
Share units granted				2,811,345
Share units vested				1,348,562
Share units forfeited				339,063
Fair value of units granted				$ 28.2
Fair value of units granted recognized period				4 years
Restricted Stock Units (RSUs) [Member] \| 2024 Plan [Member]
Share units granted	2,275,000
Share Based Compensation Vest Annual Installments Period	5 years
Deferred Stock Units [Member]
Share units granted				125,105
Share units vested				208,143
Share units forfeited				11,174
Fair value of units granted				$ 1.2

Government Assistance

9 Months Ended

Sep. 30, 2025

Government Assistance [Abstract]

Government Assistance

5. Government Assistance

Federal Communications Commission (“FCC”) Reimbursement Program

On July 15, 2022, the Company was notified that it was approved for participation in the FCC Reimbursement Program, designed to reimburse providers of advanced communications services for reasonable costs incurred in the required removal, replacement, and disposal of covered communications equipment or services, that have been deemed to pose a national security risk, from their networks. Pursuant to the FCC Reimbursement Program, the FCC approved up to approximately $334 million in reimbursements to the Company to cover documented and approved costs to (i) remove and securely destroy all ZTE communications equipment and services in the Company’s terrestrial U.S. networks and replace such equipment and (ii) remove and replace certain equipment installed on aircraft operated by the Company’s ATG customers that is not compatible with the terrestrial equipment that will replace ZTE equipment. Due to an initial shortfall in the amount appropriated by Congress to fund the FCC Reimbursement

Program, approximately $132 million of the approved amount was allocated to the Company under the program. Following passage of the Fiscal Year 2025 National Defense Authorization Act, the Company was allocated its full approved amount of approximately $334 million and the program completion deadline was extended to May 8, 2026.

As of September 30, 2025 and December 31, 2024, we have recorded a $26.0 million and $9.7 million receivable from the FCC, respectively, which is included in Prepaid expenses and other current assets in our Unaudited Condensed Consolidated Balance Sheets.

The following are the deductions to the carrying value of asset balances in our Unaudited Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 (in thousands):


	As of September 30,			As of December 31,
	2025			2024
Assets:
Inventories	$	(1,280	)	$	(4,560	)
Prepaids expenses and other current assets		(5,724	)		(4,420	)
Property and equipment, net		(25,097	)		(5,921	)
Intangible assets, net		(1,130	)		(298	)
Other non-current assets		(16,709	)		(11,852	)
Operating lease right-of-use assets		(3,008	)		—

The following are the increases to Net income in our Unaudited Condensed Consolidated Statements of Operations for the three- and nine-month periods ended September 30, 2025 and 2024 (in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Revenue:
Service revenue	$	2,037	$	796	$	5,631	$	2,239
Operating expenses:
Cost of service revenue		514		100		554		610
Cost of equipment revenue		1,478		3,647		5,720		10,415
General and administrative		115		50		302		231