UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 2015
GOGO INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-35975 | 27-1650905 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 111 North Canal, Suite 1500 Chicago, IL |
60606 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:
312-517-5000
1250 North Arlington Heights Rd.
Itasca, IL 60143
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01 | REGULATION FD DISCLOSURE. |
On June 25, 2015, representatives of Gogo Inc. (the “Company”) hosted its Analyst and Investor Day at 8:00 a.m. Central Time. Please visit Gogo’s website at www.gogoair.com under the “Investor Relations” tab for Webcast access information regarding this conference.
The Company used the attached presentation for its Analyst and Investor Day. A copy of the presentation is attached hereto as Exhibit 99.1.
During the Company’s Analyst and Investor Day, the Company announced that it is guiding to the higher end of the previously announced Adjusted EBITDA guidance range of $15 million to $25 million for the full year 2015.
| Item 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
| Exhibit |
Description | |
| 99.1 | Investor Presentation | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GOGO INC. | ||
| By: | /s/ Norman Smagley | |
| Norman Smagley | ||
| Executive Vice President and Chief Financial Officer | ||
Date: June 25, 2015
EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
Dated June 25, 2015
99.1 Investor Presentation
 Exhibit
99.1 |
 Safe harbor
statement 2
This presentation contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based on management’s beliefs and assumptions and on information currently available to management. Most
forward-looking statements contain words that identify
them as forward-looking, such as “anticipates,” “believes,” “continues,” “could,” “seeks,” “estimates,” “expects,” “intends,” “may,” “plans,”
“potential,” “predicts,”
“projects,”
“should,”
“will,”
“would”
or similar expressions and the negatives of those terms that relate to future events. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Gogo’s actual results, performance or achievements to be materially different from any projected results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking
statements represent the beliefs and assumptions of Gogo
only as of the date of this presentation and Gogo undertakes no obligation to update or revise publicly any such forward-looking statements, whether as a result of new information, future events or otherwise. As such, Gogo’s future results may vary from any
expectations or goals expressed in, or implied by, the
forward-looking statements included in this presentation, possibly to a material degree. Gogo cannot assure you that the assumptions made in preparing any of the forward-looking statements will prove accurate or
that any long-term financial or operational
goals and targets will be realized. In particular, the availability and performance of certain technology solutions yet to be implemented by the Company set forth in this presentation represent aspirational long-term goals based on current expectations. For a discussion of some of the important
factors that could cause Gogo’s results to differ
materially from those expressed in, or implied by, the forward-looking statements included in this presentation, investors should refer to the disclosure contained under the headings “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the
Company’s Annual Report on Form 10-K filed with the SEC on February 27, 2015. Note to Certain Operating and Financial Data In addition to disclosing financial results that are determined in accordance with U.S. generally accepted accounting principles (“GAAP”), Gogo also discloses in this presentation certain non-GAAP financial information, including Adjusted EBITDA and Cash CapEx. These financial measures are
not recognized measures under GAAP,
and when analyzing our performance or liquidity, as applicable, investors should (i) use Adjusted EBITDA in addition to, and not as an alternative to, net loss attributable to common stock as a measure of operating results, and (ii) use Cash CAPEX in addition to, and not as an alternative
to, consolidated capital expenditures when evaluating our
liquidity. In
addition,
this presentation contains various customer metrics and operating data, including numbers of aircraft or units online, that are based on internal company data, as well as information relating to the commercial and business aviation market, and our position within those markets. While
management believes such information
and data are reliable, they have not been verified by an independent source and there are inherent challenges and limitations involved in compiling data across various geographies and from various sources. ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
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 Winning
Aircraft
Jon Cobin Executive Vice President, Global Airline Business Group GOGOAIR.COM | 38 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Gogo has
the industry’s leading track record
GOGOAIR.COM | 39
ATG 2008 ATG 2010 2Ku, GGV 2013 ATG 2008 ATG 2009 ATG 2008 ATG 2011 ATG 2010 ATG, GGV 2011 GGV 2011 Ku, ATG4, GGV 2012 ATG4, GGV 2012 ATG4 2013 Ku 2013 GGV 2014 ATG, ATG4 2014 ATG4 2014 ATG4 2014 GX 2014 2Ku 2014 2Ku 2015 2Ku, GGV, IPTV 2015 GGV 2014 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Leading
the global market GOGOAIR.COM |
40 51%
MARKET SHARE
INSTALLED AIRCRAFT, GLOBAL
74% WIN SHARE SINCE 2Ku ANNOUNCED, GLOBAL *Gogo estimates as of 6/22/15 * * ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Bigger
than all our competitors combined Other
Global Installed Aircraft
Alliance Commitments (Percent of total commitments) GOGOAIR.COM | 41 68% 80% 29% *Gogo estimates as of 6/22/15 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. 1% 7% 9% 14% 19% 51% |
 The
leading deals in the industry GOGOAIR.COM
| 42 Wins
since 2Ku announcement in April 2014 * Number of Aircraft *Gogo estimates as of 6/22/15 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. Gogo Competitors |
 Meeting
airlines’ needs Gogo’s unique strengths
The market moving forward
Agenda GOGOAIR.COM | 43 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
  Video
2 GOGOAIR.COM | 44
|
 A
transformative opportunity for airlines
GOGOAIR.COM | 45
Airline differentiation Better passenger experience - less cost Direct revenue opportunities Operational efficiency Enhanced safety Benefits Enabling the Connected Aircraft ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Requires
a different type of partner GOGOAIR.COM
| 46 Best performance,
complete solutions, most cost efficient and most reliable Unique experiences, brand/business goals Dedicated support: operations, marketing, business models Connectivity Technology Systems & Services Taking Care of Airlines Managing complexity so airlines benefit from connected aircraft with EASE and RELIABILITY ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 With
unique, end-to-end capabilities
GOGOAIR.COM | 47
*Gogo estimates as of 6/22/2015 Only Gogo has the end-to-end capabilities to meet airlines’ needs Systems & Services Taking care of airlines Connectivity technology IFE Providers Satellite Providers Content providers ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Meeting
airlines’ needs Gogo’s unique strengths
The market moving forward
Agenda GOGOAIR.COM | 48 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Gogo’s unique strengths
GOGOAIR.COM | 49
Multi-generational
technology leadership Letting airlines be themselves Unique experiences, brand/business goals End-to-end service provider Support: operations, marketing, business models Connectivity Technology Systems & Services Taking Care of Airlines Best performance, complete solutions, most cost efficient and most reliable GOGO ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 Getting
technology right matters GOGOAIR.COM
| 50 Others
*Gogo estimates as of 6/22/2015 * Gogo won the first generation Cumulative IFC Installs – US Market ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. 2008 2009 2010 2011 2012 2013 2014 2008 2009 2010 2011 2012 2013 2014 |
 Getting
technology right matters GOGOAIR.COM
| 51 Others
UNINSTALLED * *Gogo estimates as of 6/22/2015 Cumulative IFC Installs – US Market Gogo won the first generation ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. 2008 2009 2010 2011 2012 2013 2014 2008 2009 2010 2011 2012 2013 2014 |
 The 2Ku
advantage GOGOAIR.COM |
52 2Ku was designed to eliminate the trade-offs
*Gogo estimates as of 6/22/2015 Regional and global fleets Cost and capacity of regional Ka Fully redundant, global coverage Dedicated capacity to aero Internet + IPTV in one system The most aerodynamic and bird strike tolerant radome ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential. |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
All Awards Only Satcom Awards Aircraft wins since 2Ku announcement Gogo is winning the second generation 58% 13% 21% 11% 18% 2% 2% GOGOAIR.COM | 53 74% 0% 0% 0% 0% *Gogo estimates as of 6/22/15 * * |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Gogo’s unique strengths
GOGOAIR.COM | 54
GOGO Multi-generational technology leadership Best performance, complete solutions, most cost efficient and most reliable Letting airlines be themselves Unique experiences, brand/business goals End-to-end service provider Support: operations, marketing, business models Connectivity Technology Systems & Services Taking Care of Airlines |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Bandwidth is necessary, but not sufficient Gogo Connectivity Has Powered … GOGOAIR.COM | 55 Mobile devices IFE systems Laptops, tablets Custom portals Partner applications |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Letting airlines be themselves
GOGOAIR.COM | 56
Branding opportunities A natural extension of our airline customers’ digital strategies Amenities for high value customers New ability for 1:1 communications |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Delta Air Lines Portal
GOGOAIR.COM | 57
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 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
American Airlines Portal
GOGOAIR.COM | 58
|
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Alaska Beyond GOGOAIR.COM | 59 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Delta Studio GOGOAIR.COM | 60 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Gogo’s unique strengths
GOGOAIR.COM | 61
GOGO Multi-generational technology leadership Letting airlines be themselves Unique experiences, brand/business goals End-to-end service provider Support: operations, marketing, business models Connectivity Technology Systems & Services Taking Care of Airlines Best performance, complete solutions, most cost efficient and most reliable |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Dedicated program management
Launch team Certification and installation Network configuration Customized services & portal Dedicated account-facing teams Operational support Marketing and product support Managing retail services Operational and service data Taking care of airlines GOGOAIR.COM | 62 Launching New Airline Customers Supporting Existing Airline Customers Success requires a service provider skillset – partnering closely with airlines every day |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Facing airlines globally …
GOGOAIR.COM | 63
Gogo is recognized as a leader globally
*Source: Gogo Global Airline Survey November 2014 Gogo presence 63% * of airlines consider Gogo for IFC/IFE needs 61% * YOY increase in consideration |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Meeting airlines’ needs
Gogo’s unique strengths
The market moving forward
Agenda GOGOAIR.COM | 64 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
North American Airlines IFC experience Capacity expansion Service expansion – Internet – Entertainment – Operations Rest of World Airlines No IFC experience Dissatisfied with prior trials High interest, but confused The state of the market Market needs may vary, but the skillset required is the same GOGOAIR.COM | 65 CA-NA CA-ROW Installed Committed Non-Committed Aircraft * Source: Boeing Current Market Outlook 2014-2033, excludes cargo aircraft 5,300 13,900 * |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
The global commercial aircraft market
GOGOAIR.COM | 66
Source: Boeing Current Market Outlook 2014-2033, excludes cargo
aircraft North
America 6,200 Latin America 1,000 Europe, CIS 5,100 Middle East, Africa 1,900 Asia Pacific 5,000 |
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The premier awards in the industry
2Ku, GGV 2014 GX 2014 2Ku 2014 2Ku 2015 2Ku, GGV, IPTV 2015 Excellent momentum 2Ku, IPTV, Gogo Vision GOGOAIR.COM | 67 Twin and single aisle Retro and line fit Selected Recent Awards |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Positioned to win GOGOAIR.COM | 68 Leveraging Gogo’s unique strengths
to meet the needs of
airlines and connected aircraft |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Delivering More Bandwidth Anand Chari Executive Vice President & Chief Technology Officer |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
The Right Technology
Equipping the Aircraft
Being a Trusted Aero Communications
Service Provider Agenda GOGOAIR.COM | 70 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Multi-generational technology framework
GOGOAIR.COM | 71
0 20 40 60 80 100 120 1996 2001 2006 2011 2016 2018 SDSL FTTH VDSL2 GPON VDSL ADSL2+ EDGE HSPA HSPA Evolved LTE Advanced GSM GPRS UMTS HSDPA HSUPA LTE Communication technology evolves Bandwidth demand expands rapidly Fixed networks Mobile networks |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Gogo’s technology leadership
GOGOAIR.COM | 72
0 20 40 60 80 100 120 1996 2001 2006 2011 2016 2018 SDSL FTTH VDSL2 GPON VDSL ADSL2+ EDGE LTE Advanced GSM GPRS UMTS HSDPA LTE ATG ATG-4 2Ku Spot beam Next Gen ATG Ku Ka Critical factors driving our technology Cost Coverage Capacity Reliability Aero Performance Fixed networks Mobile networks Gogo Proven research and development track record *Based on Gogo estimates, subject to technology design and Gogo’s access to sufficient spectrum. * HSPA Evolved HSUPA HSPA |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
A suite of solutions to serve the
global aero market GOGOAIR.COM | 73 Global Regional ATG 3.1 Mbps Iridium 2.4 Kbps 2Ku 70-100 Mbps Ka 30-50 Mbps
Ku 30-50 Mbps
Swift Broadband 432 Kbps Next Gen ATG 100+ Mbps ATG4 9.8 Mbps Broadest suite of technologies and full fleet connectivity solutions |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Ground breaking innovations made broadband connectivity possible
1st economically viable connectivity solution
Unique advantages: – Low cost – Highly scalable – Light weight – Overnight installation In-flight broadband connectivity becomes reality GOGOAIR.COM | 74 ATG ATG4 1 Generation 2 Generation 3 Generation 2008 2012 2015 2018e st nd rd |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
2009 2010 2011 2012 2013 2014 Q1 2015 CA-NA BA 5,200 broadband aircraft connected in 6 years 20 million flight hours
of experience
Most scale and experience in delivering broadband connectivity First generation powers up North America GOGOAIR.COM | 75 741 1,374 2,205 3,266 4,079 4,895 5,183 ATG Connected Aircraft |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
1st economically viable
global connectivity
solution Only technology that excels across all five critical factors
Global internet &
IPTV Record market
adoption Second generation
disrupts global aviation
GOGOAIR.COM | 76
ATG ATG4 2008 2012 2015 2018e 1st Generation 2nd Generation 3 Generation 2Ku rd |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
2Ku: size and shape matters
2Ku Designed Specifically to
Maximize Performance
Efficiency 2Ku 30 in Traditional Gimbaled Aperture 8 in 29 in 0 skew angle 90 skew angle Antenna Size and Shape Drive Performance 90 80 70 60 50 40 30 20 10 0 Elevation Angle Typical Aero Antenna 2Ku (30in VICTS) GOGOAIR.COM | 77 |
 No
single point of failure No skew angle issues
Compatible with current and future satellites
2Ku outperforms standard antennas in
over 98% of flight minutes
GOGOAIR.COM | 78
|
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
2Ku superior aerodynamic
performance and reliability
GOGOAIR.COM | 79
6.7 inches >13 inches Low profile radome equates to low aero dynamic drag Fewer moving parts: no stepper motors, gears, belts or pulleys 2Ku Radome Traditional Radome |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
2Ku – Only global technology that leads across all 5 factors GOGOAIR.COM | 80 Coverage – True global coverage Aero performance – Low profile, low fuel burn Cost - 50% cost advantage Capacity – ~180 satellites today; HTS satellites coming Reliability – Fewer moving parts, satellite redundancy *As of June 2015 * |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
2Ku advantages result in wins
GOGOAIR.COM | 81
FCC regulatory approval obtained
2Ku radome certified
Summer launch expected on our 737
Commercial launch expected by end of 2015
Record Adoption In 15 Months
On Schedule For Deployment
7 airlines 4 continents North America, South America, Europe, Asia |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Gogo continues to innovate
GOGOAIR.COM | 82
Next Gen ATG ATG ATG4 2008 2012 2015 2018e 2Ku 1st Generation 2nd Generation 3 Generation rd Ground-like bandwidth at a
fraction of satellite costs Capacity solution
for North America Leverages ATG network and operational
experience |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Uniquely positioned to develop and deploy
next gen ATG solution 3 Generation - Next Gen ATG Over 2,200 ATG aircraft with easy upgrade path to Next Gen ATG Time-to-Market ATG patents & intellectual property Lowest Cost Implementation Minimal cell site build out Operational Experience Experienced ATG network operator Improved coverage and reliability Leverage current ATG network GOGOAIR.COM | 83 Next Gen ATG is contingent on access to spectrum Gogo Competitive Advantage rd ATG design & development track record |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
The Right Technology
Equipping the Aircraft
Being a Trusted Aero Communications
Service Provider Agenda GOGOAIR.COM | 84 |
 Most
experience in retrofitting aircraft Retrofitting is not easy, but we do it
very well… GOGOAIR.COM |
85 Business Aviation Retrofits
Commercial Retrofits
Gogo Vision Systems Installed
3,000 2,300+ 2,000+ STCs – Types of Fleets Installation Times 75+ 8 hours for ATG
< 3 days for
Ku |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Strong progress on line-fit
GOGOAIR.COM | 86
2Ku and other satellite solutions progressing for Boeing 787, 737 & 777 and Airbus A350 ATG4 provisions offerable on Boeing 737 today The right technology is crucial |
  GOGOAIR.COM | 87 Video 3 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
The Right Technology
Equipping the Aircraft
Being a Trusted Aero Communications
Service Provider Agenda GOGOAIR.COM | 88 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
What it means to be a service provider
GOGOAIR.COM | 89
Custom portals Billing Roaming Airline CRM Interface Monetization E-commerce In-flight problem resolution Live chat Multiple languages Maintenance hubs Operations support systems Network operations center Network Access Integration Reliability Customer Support End-to-End Service |
  GOGOAIR.COM | 90 Video 4 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Launch 2Ku with our current
customers R&D for next gen ATG technology Advance operational excellence Delivering on our priorities over the next 12 months GOGOAIR.COM | 91 Continue to deliver more bandwidth around the world |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Growing Revenue & Enabling the Connected Aircraft Ash ElDifrawi Chief Commercial Officer GOGOAIR.COM | 92 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Passenger Connectivity
New Product Update Airline Solutions and Services Operational Applications Agenda GOGOAIR.COM | 93 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Expanding services to meet airline
needs driving strong revenue growth
GOGOAIR.COM | 94
Passenger
Crew
Aircraft
New Products Airline Solutions and Services Operational Applications Passenger Connectivity Gogo Suite of Offerings |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
ARPA showing strong growth even in
the face of capacity constraints
GOGOAIR.COM | 95
$0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 0% 4% 8% 12% 16% 20% 24% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Take Rate % Average Monthly Revenue per Aircraft Take Rate vs. ARPA Growth 2012 2013 2014 2015 Balancing revenue growth with customer experience and network performance |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Airline revenue management applied to telecom
Customized merchandizing engine
Distribution strategy focused on increasing yield, not usage
Sophisticated revenue management is
key driver for near-term growth
GOGOAIR.COM | 96
|
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Agenda GOGOAIR.COM | 97 Passenger Connectivity New Product Update Airline Solutions and Services Operational Applications |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Breakdown of CA-NA Service Revenue
New product revenue is meaningful and growing GOGOAIR.COM | 98 83% 17% 2012 Q1 2015 New Products Connectivity Revenues include GGV, text, custom portals, etc. 93% 7% |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Over 2,000
aircraft installed Multiple new GGV innovations launches in last 18 months GGV demonstrating high engagement with the
leisure traveler
Gogo Vision experiencing
explosive growth GOGOAIR.COM | 99 Aug Sep Oct Nov Dec Jan Feb Mar Month to Month GGV Usage 2014 2015 36.8 % * * Compounded Monthly Growth Rate |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
T-Mobile deal still going strong OTT products coming soon Re-launching our text app Gogo building a suite of messaging products to reach all the ways people text GOGOAIR.COM | 100 Creating a platform that enables a broad range of texting options |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Announced first partnership with GOL Gogo TV brings live television
programming to passengers’ own Wi-Fi enabled
devices Most IPTV friendly solution with the launch of 2Ku Channels
customized by airline Gogo expanding entertainment options with Gogo TV GOGOAIR.COM | 101 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Agenda GOGOAIR.COM | 102 Passenger Connectivity New Product Update Airline Solutions and Services Operational Applications |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Our robust capabilities meet airline needs
and lay the foundation for the future
GOGOAIR.COM | 103
Airline Customization at Scale &
Connected Aircraft Controlled internet access Flexible API’s and SDK’s Ad Serving Technology Stack Live Chat and Customer Care Merchandizing engine Real time flight information CRM integration Seat validation technology Unplugged DRM Global content distribution (Spafax) Turnkey Payment processing Passenger account management Content filtering Serving as the platform for… Custom portals |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
NYC to LA Under the hood: Gogo’s custom portals are much more than a slick design GOGOAIR.COM | 104 Demand based pricing powered by merchandizing engine Targeted custom content powered ad-technology stack |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Under the hood: Gogo’s custom portals
are much more than a slick design
GOGOAIR.COM | 105
Controlled internet access powered
by dynamic white listing |
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Delta Studio taking full advantage of
GGV’s newest innovations
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Differentiated experiences powered
by Seat Validation Technology
Delta Mobile App powered by
DRM-friendly SDK |
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Airlines responding to Gogo’s flexible
and customizable IFE capabilities
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Customizable Turnkey Unplugged IFE |
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Agenda GOGOAIR.COM | 108 Passenger Connectivity New Product Update Airline Solutions and Services Operational Applications |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Operational applications set to take off
and Gogo is well positioned
Four Components to the Connected Aircraft
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Inflight service applications are already
making a difference GOGOAIR.COM | 110 Cabin Crew Enablement 81% (1) of airlines are expected to either trial or have cabin crew tablet strategies by end of 2017 Connectivity provides crew with access to CRM data and improves service (1) Source: SITA 2014 “No More Flight a Fancy” Enablers Gogo Projects Segmented Networks Dynamic Whitelists Gogo Crew Connect |
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Flight operations applications will foster
greater flight efficiencies
GOGOAIR.COM | 111
Operational Efficiencies
Major airlines have already deployed
Electronic Flight Bags including
American Airlines Fuel savings and optimization opportunities Enablers Gogo Projects API Integration Quality-of-Service Weather trial with airline NASA TASAR Gogo Crew Connect |
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Enablers Gogo Projects Constant Connectivity Access to Aircraft Server Gogo Ramp Connect Maintenance applications will save airlines time and money GOGOAIR.COM | 112 Predictive Capabilities Transformative monitoring and response capabilities Integrated on-ground and in-air collaborative elements Linking the maintenance team with the aircraft |
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Aircraft system apps drive
greater aircraft health
GOGOAIR.COM | 113
Big Data Capabilities Health monitoring is expected to be a $3.3B (1) industry by 2020 Aircraft can generate GBs of data every flight Connectivity enables context and timeliness Enablers Gogo Projects Aircraft Data Network Integration Aircraft Application Hosting Advanced Connectivity and API services (1) Source:MarketsandMarkets Commercial Aircraft Health Monitoring Systems Market report |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
More capacity and the ‘Internet of Air’
will bend the ARPA curve
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Gogo Suite of Offerings
Passenger
Crew
Aircraft
New Products Airline Solutions and Services Operational Applications Passenger Connectivity Internet of Air |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Growing Business Aviation John Wade Executive Vice President & General Manager, Business Aviation GOGOAIR.COM | 115 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Agenda GOGOAIR.COM | 116 3Ps of Connectivity Segmenting and Connecting Aircraft Progress and Strategy |
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The 3Ps of connectivity
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It’s about connecting everything
connecting the pilot TODAY the pilot 3,000 broadband Gogo Biz YESTERDAY the passenger connecting everyone and
everything TOMORROW the plane |
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3,000+ systems
installed
Longtime focus: the passenger
Jet owners use the internet just as airline passengers do
GOGOAIR.COM | 118
Bigger aircraft with more seats and passengers This market is becoming established |
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Thousands fly but 90% don’t have broadband internet New opportunity: the pilot Now there is a reason for pilots to want the internet as well GOGOAIR.COM | 119 Haven’t seen the need in the cockpit New applications will
stimulate demand
*Gogo estimates as of 6/22/2015. * |
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The Internet of Things is coming The future: the entire plane The plane will generate & consume far more data than passengers GOGOAIR.COM | 120 Revolutionizing what we can do with airplane systems Essential components to deliver connected aircraft |
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Agenda GOGOAIR.COM | 121 3Ps of Connectivity Segmenting and Connecting Aircraft Progress and Strategy |
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The ‘pipe’ – Gogo Biz for any aircraft Gogo Biz platform offers optimum value and pricing for all aircraft sizes ATG8000/ ATG5000 LARGE JETS 2,900 aircraft ATG 8000 for higher capacity aircraft ATG5000/ ATG4000 MEDIUM JETS 4,300 aircraft 87% (1) of installs are on medium or large aircraft ATG2000 LIGHT JETS 5,500 aircraft 62% (1) of units are being installed on light jets or turboprops ATG1000 TURBOPROPS 8,300 aircraft Addresses jets even further down market GOGOAIR.COM | 122 * Source: JetNet iQ Report Q4 2014 and Gogo estimates as of June 2015 * * * * (1) From 2009 through 3/31/2015 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Inmarsat Swift Broadband
Gogo offers hardware and
service – Aviator 200 – Aviator 300 – Aviator 700 Rest of world broadband GOGOAIR.COM | 123 Gogo Biz aviation has solutions for international aircraft Small to Medium Aircraft Large Aircraft Ku band – expensive and limited Ka band – Inmarsat Jet ConneX will offer higher capability, expected to become the standard – Gogo will sell Jet ConneX service starting later this year |
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The ‘platform’ – Universal Communications System (UCS) UCS Data router for every aviation broadband network Voice router for every aviation voice network Server capable of hosting Gogo and third party applications Interfaces to avionics systems GOGOAIR.COM | 124 Wi-Fi Bridge 3G/4G Modem Ku band In-Cabin Devices Avionics |
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As selected by NetJets for their fleets
UCS Gogo Biz Entire domestic fleet Gogo Text and Talk Largest business aviation selection of the service Gogo Vision Largest business aviation selection of wireless IFE Gogo Cloud First fully automatic IFE video update UCS5000 First fractional fleet selection GOGOAIR.COM | 125 Wi-Fi Bridge 3G/4G Modem In-Cabin Devices Avionics |
 Video
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Agenda GOGOAIR.COM | 127 3Ps of Connectivity Segmenting and Connecting Aircraft Progress and Strategy |
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BA Segment Profit BA Revenue 43% CAGR ($M) 87% CAGR Strong BA revenue growth, profitability GOGOAIR.COM | 128 ($M) $3 $63 2009 2014 $26 $156 2009 2014 |
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Thousands more aircraft to connect
20,000 market 2,800 market
Sources: JetNet iQ Report Q4 2014; General Aviation Manufacturers Association 2012
Statistical Databook; excludes rest of world turbo props, publicly available information as of 12/31/14 and Gogo estimates. Jet ConneX is a global connectivity service provided by Inmarsat.
18,000 market GOGOAIR.COM | 129 Market growing nearly 30% over the next decade ATG Swift Broadband Jet ConneX Available 91%
Competition 9%
North America 21,000 ROW 7,000 Business Aviation Market Available 84%
Gogo 15%
Competition 1%
Available 89%
Competition 11%
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Key priorities GOGOAIR.COM | 130 Increase aircraft online Increase ARPU Connect the pilot and the plane |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Connecting more airplanes
GOGOAIR.COM | 131
Improving efficiency of aircraft increases need for broadband Equipment incentives increase demand Flight crew applications expands appeal Segmentation compelling to smaller aircraft |
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Increasing revenue per aircraft
GOGOAIR.COM | 132
Data usage Real time weather Aircraft operating parameters Services Gogo Text and Talk Gogo Vision Hardware ATG 8000 UCS 5000 FANS Over Iridium |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Connecting the pilot and the plane
GOGOAIR.COM | 133`
Developing an airborne
platform for third parties
to enable aircraft systems to get online |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Market leader and
innovator
Loyal and growing customer base Industry’s largest online fleet Broadest product portfolio Summary GOGOAIR.COM | 134 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Financial Flight Plan Norman Smagley Executive Vice President & Chief Financial Officer |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Strong revenue growth GOGOAIR.COM | 136 CA-NA Revenue ($M) BA Revenue ($M) 87% CAGR 43% CAGR $26 $156 2009 2014 $11 $251 2009 2014 |
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Drives segment profitability
GOGOAIR.COM | 137
10% Margin 40% Margin 22% Margin CA-NA Segment Profit ($M) BA Segment Profit ($M) Combined Segment Profit ($M) $(91) $26 $3 $63 $(89) $89 2009 2014 2009 2014 2009 2014 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
CA-ROW financial profile
similar to CA-NA GOGOAIR.COM | 138 CA-ROW Awarded Aircraft Current aircraft backlog plus new wins come online ARPA increases Similar economics to CA-NA expected at scale Drives segment results to profitability + 180 500 2012 Jun -15 |
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Established profitability
GOGOAIR.COM | 139
Total Revenue ($M) Adjusted EBITDA* ($M) High contribution margin creates visibility to future cash flow *Please see reconciliation of adjusted EBITDA in appendix $(89) $11 2009 2014 $37 $408 2009 2014 |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Financial Flight Plan
GOGOAIR.COM | 140
Operating Leverage Growing Revenue Success Based CAPEX Most Efficient Capacity |
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AVERAGE REVENUE PER AIRCRAFT Growing revenue beyond passenger connectivity GOGOAIR.COM | 141 AIRCRAFT ONLINE North America Global 2014 $37M 2009 Aircraft On-Line CA-NA 2,100 BA 2,800 $ 408M+
REVENUE ARPA / ARPU CA-NA $121K BA $24K+ |
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Financial Flight Plan
GOGOAIR.COM | 142
Operating Leverage Growing Revenue Success Based CAPEX Most Efficient Capacity |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Technology leadership creates the
most cost efficient capacity
GOGOAIR.COM | 143
Small fraction of alternative solutions 50% Ku 50% High Throughput Ku Regional 14 GHz Global 2Ku vs. Cost of Industry Solutions Gogo Technology Gogo’s technology bandwidth cost advantage Note: Cost of solution comparison determined using average global bandwidth costs and spectral efficiency estimates.
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 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Most cost efficient capacity-
significant competitive advantage
GOGOAIR.COM | 144
Single Aisle Mainline Twin Aisle International 2Ku Next Gen ATG Ku (current) $0.5M $1.1M Ku (HTS) $0.4M $0.8M 2Ku Ku (current) $1.8M Ku (HTS) $1.3M (1) Net present value of bandwidth savings based on Gogo estimates using a 9% discount rate over 10 years.
NPV of Gogo Bandwidth Cost Savings
(1) |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Financial Flight Plan
GOGOAIR.COM | 145
Operating Leverage Growing Revenue Success Based CAPEX Most Efficient Capacity |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Multiple operating leverage opportunities
GOGOAIR.COM | 146
General & Administrative Sales & Marketing Engineering, Design & Development Cost of Service New technologies and higher utilization drives down bandwidth unit costs All drop as percent of revenue |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Multiple operating leverage opportunities
GOGOAIR.COM | 147
General & Administrative Sales & Marketing Engineering, Design & Development STCs: One time & success based, scalable Solutions & products: leveraged across segments, geographies, and airlines Cost of Service All drop as percent of revenue |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Multiple operating leverage opportunities
GOGOAIR.COM | 148
General & Administrative Sales & Marketing International sales team established Marketing leveraged across geographies and airlines Engineering, Design & Development Cost of Service All drop as percent of revenue |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Multiple operating leverage opportunities
GOGOAIR.COM | 149
General & Administrative Established and will be leveraged across regions Sales & Marketing Engineering, Design & Development Cost of Service All drop as percent of revenue |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Financial Flight Plan GOGOAIR.COM | 150 Operating Leverage Growing Revenue Success Based CAPEX Most Efficient Capacity |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Success based capital expenditures
GOGOAIR.COM | 151
Success based investment Generate positive ROI Low maintenance CapEx Expected high ROI for Next Gen ATG network Industry-leading product innovations Scale with large installed base Airborne Equipment Network Equipment Capitalized Software |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Fasten your seatbelts ...
the best is yet to come
GOGOAIR.COM | 152
Revenue Growth
Operating Expense Leverage
Service Margin Expansion
High ROI, High Incremental Margins
Win Aircraft & Realize Connected Aircraft
Global Scale
Technology Leadership
Success Based CAPEX |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Q&A |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Closing Remarks Michael Small President & Chief Executive Officer |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Competitive Advantages Specialization in aviation and telecom Superior technology and cost advantage Industry’s most experienced end-to-end service provider Unmatched scale Gogo is well-positioned to win GOGOAIR.COM | 155 Signposts Develop and deploy network and connectivity technology Win aircraft Enable the connected aircraft Continue top and bottom line growth |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Appendix |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Adjusted EBITDA reconciliation ($MM)
157 2009 2010 2011 2012 2013 2014 Net Income (142) (140) (18) (96) (146) (85) Interest Income (0) (0) (0) (0) (0) (0) Interest Expense 30 – 1 9 29 33 Income Tax Provision – 3 1 1 1 1 Depreciation & Amortization 22 31 33 37 56 64 EBITDA (91) (106) 16 (49) (60) 14 Fair Value Derivative Adjustments – 33 (59) (10) 36 – Class A and Class B Senior Convertible Preferred Stock Return – 18 31 52 29 – Accretion of Preferred Stock – 9 10 10 5 – Stock-based Compensation Expense 1 2 2 4 6 10 Loss on Extinguishment of Debt 2 – – – – – Write Off of Deferred Equity Financing Costs – – – 5 – – Amortization of Deferred Airborne Lease Incentives – (1) (1) (4) (8) (13) Adjusted EBITDA (89) (45) (1) 9 8 11 Note: Minor differences exist due to rounding |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Cash CapEx reconciliation ($MM)
158 2009 2010 2011 2012 2013 2014 Purchases of Property and Equipment (69) (33) (33) (67) (105) (132) Acquisition of Intangible Assets (Capitalized Software) (8) (7) (10) (12) (16) (17) Gross CapEx (77) (40) (43) (79) (121) (150) Change in Deferred Airborne Lease Incentives – 9 11 18 9 30 Amortization of Deferred Airborne Lease Incentives – 1 1 4 8 13 Landlord Incentives – – – – – 10 Cash CapEx (77) (30) (31) (58) (104) (98) Note: Minor differences exist due to rounding |
 ©2015 Gogo Inc. and Affiliates. Proprietary & Confidential.
Analyst and Investor Day
2015 |