Gogo inc. (GOGO)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13
Operating activities:
Net loss

-213,983

-146,004

-183,341

-198,167

-151,411

-162,031

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-141,766

-

-131,452

-127,049

-111,627

-107,613

-97,845

-93,874

-87,764

-84,538

-82,532

-76,351

-113,678

-111,289

0

0

0

Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Depreciation and amortization

120,738

118,817

123,178

126,476

128,447

133,617

149,116

152,350

150,974

145,490

126,421

117,376

111,720

105,642

101,264

96,709

92,616

87,036

78,680

73,472

67,541

64,451

61,876

58,524

57,351

55,509

0

0

0

Loss on asset disposals, abandonments and write-downs

-13,708

-13,851

-13,495

-11,248

-12,906

-13,352

-9,523

-12,012

-8,482

-8,960

-10,504

-7,136

-6,471

-4,583

-2,588

-2,820

-2,561

-3,044

-3,975

-4,051

-3,963

-3,389

-2,468

-1,495

-1,194

-1,058

0

0

0

Provision for expected credit losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of long-lived assets

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment of cost-basis investment

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on transition to airline-directed model

-

-

-

-

-

21,551

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

179

178

178

179

86

-3,821

-6,884

-6,719

-6,461

-2,281

946

946

946

839

837

834

830

827

827

827

828

828

789

833

827

821

0

0

0

Stock-based compensation expense

16,179

16,511

17,092

16,958

16,853

16,912

17,345

18,696

19,877

19,821

19,642

19,359

17,753

17,621

17,442

16,986

16,412

15,299

13,927

12,297

11,297

9,816

9,185

7,656

6,347

5,621

0

0

0

Amortization of deferred financing costs

5,430

5,260

5,038

4,770

4,494

4,280

4,168

4,027

3,882

3,743

3,540

3,439

3,531

3,803

4,134

4,443

4,553

4,169

3,737

3,365

3,121

3,173

3,291

3,358

3,282

2,832

0

0

0

Accretion and amortization of debt discount and premium

-13,263

-14,711

-15,745

-17,425

-18,490

-18,255

-18,414

-18,348

-18,317

-18,286

-18,428

-18,130

-17,808

-17,496

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accounts receivable

-24,432

-29,898

-39,933

-27,188

-7,533

17,064

34,169

54,004

54,972

43,798

49,269

21,990

5,646

4,265

11,004

18,734

29,056

21,563

15,900

15,370

13,054

23,035

9,130

6,309

3,553

1,015

0

0

0

Inventories

-24,175

-29,092

488

49,836

39,576

50,762

34,373

-275

6,612

-4,723

13,031

26,949

29,265

29,329

13,679

2,356

-2,154

-976

4,665

10,130

12,431

8,267

2,358

-3,837

-1,708

1,497

0

0

0

Prepaid expenses and other current assets

2,607

630

-7,787

-7,775

-1,772

3,106

1,079

3,950

5,169

-4,990

-8,561

-2,423

-3,649

14,473

19,237

9,469

7,694

-2,717

-2,999

-2,081

-4,635

-2,070

-4,408

1,415

2,670

1,378

0

0

0

Contract assets

26,310

21,863

27,910

36,329

39,238

30,485

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

9,445

-4,111

-8,439

-7,391

-12,776

-3,864

10,216

11,221

14,063

3,402

-6,538

-76

-2,006

-3,118

3,013

-180

5,851

-4,307

-2,216

5,235

635

8,336

9,357

458

-1,600

2,281

0

0

0

Accrued liabilities

-10,362

-11,452

-11,222

-512

1,129

13,281

16,753

28,874

23,338

24,941

23,631

10,420

5,689

4,982

12,483

11,026

18,305

25,366

12,398

10,940

7,374

-1,823

5,879

9,251

8,054

10,865

0

0

0

Deferred airborne lease incentives

2,623

-3,645

-5,394

-6,205

-9,794

-7,705

4,645

11,047

15,014

20,407

17,739

12,652

10,605

14,652

23,005

29,357

35,831

36,895

39,340

37,584

33,303

30,199

15,483

11,949

10,997

10,217

0

0

0

Deferred revenue

-5,850

-4,971

-217

-6,102

-4,204

-1,021

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

0

0

24,345

-

23,830

25,377

18,901

23,895

20,952

18,937

16,379

7,326

7,434

5,913

7,528

6,685

0

0

0

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,596

2,935

6,923

21,206

29,557

31,560

28,105

13,290

0

0

0

-

-

-

-

Accrued airline revenue share

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

664

-

1,672

1,847

3,260

3,315

2,676

2,447

2,675

3,697

0

0

0

Accrued interest

16,281

-29,646

0

0

0

-

-

-

3,125

7,213

2,058

33,776

18,355

35,825

19,417

3,577

549

4,508

0

0

0

-

-

-

-

-

-

-

-

Warranty reserves

3,937

3,875

4,410

3,602

6,979

8,009

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current assets and liabilities

-2,935

3,772

4,543

7,111

5,926

7,305

8,350

5,345

5,610

4,971

6,567

4,967

3,498

7,102

7,013

8,238

6,522

2,405

-425

-408

-654

-435

-1,532

-1,618

-1,284

-1,849

0

0

0

Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

53,349

-

62,667

63,267

68,842

104,856

97,449

91,684

69,387

28,972

34,078

23,707

11,265

17,790

0

0

0

Net cash provided by (used in) operating activities

108,244

64,061

84,924

-47,747

-42,262

-82,311

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investing activities:
Proceeds from the sale of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

226

0

0

0

Purchases of property and equipment

90,171

100,123

67,052

38,631

74,900

108,632

168,992

227,082

245,606

252,375

231,665

206,138

180,934

148,294

137,204

120,594

113,606

135,201

142,262

158,085

152,801

132,098

117,188

106,184

107,745

105,228

0

0

0

Acquisition of intangible assets—capitalized software

12,906

15,355

18,427

20,111

21,816

23,031

21,412

22,571

25,674

27,855

30,760

31,445

30,129

28,587

26,855

23,350

20,105

17,947

15,571

16,737

17,530

17,465

19,679

18,062

16,221

16,141

0

0

0

Purchases of short-term investments

-

-

-

-

-

39,323

143,090

162,896

247,302

317,418

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemptions of short-term investments

-

39,323

88,575

123,191

182,633

212,792

243,011

322,946

397,944

443,103

448,355

393,645

339,106

244,450

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-2,440

-2,446

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

0

0

0

Net cash provided by (used in) investing activities

-100,637

-73,709

5,600

64,809

86,012

41,806

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Financing activities:
Proceeds from credit facility draw

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Decrease) increase in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

225

-

-20

-19

-18

2,500

0

0

0

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-344,511

-

-273,100

-442,825

-253,425

-292,815

-387,414

-254,744

-250,222

-231,972

-144,217

-131,546

-140,233

-135,052

0

0

0

Proceeds from issuance of senior secured notes

-

-

-

-

-

-

-

-

-

181,754

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of debt, including capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

8,110

7,628

7,308

6,326

0

0

0

Proceeds from issuance of convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

361,940

0

0

0

-

-

-

-

-

-

-

-

Repurchase of convertible notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on amended and restated credit agreement

-

-

-

-

-

-

-

-

-

-

-

-

-

310,132

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Forward transactions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

140,000

0

0

0

-

-

-

-

-

-

-

-

Payment of debt issuance costs

-

22,976

0

0

0

-

-

-

-

3,630

0

0

0

-

-

-

-

12,608

0

0

0

-

-

-

-

-

-

-

-

Payments on financing leases

835

713

1,266

1,536

1,847

2,340

2,247

2,608

2,882

2,961

3,077

2,934

2,724

2,612

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation activity

-14

325

403

475

408

396

283

275

-852

-227

-201

-142

530

271

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

16,055

-3,543

24,783

25,921

27,262

27,314

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

284,126

-

199,147

196,875

-22,783

203,221

204,486

279,062

281,241

67,995

68,689

-8,213

270,588

271,056

0

0

0

Effect of exchange rate changes on cash

77

-250

751

573

227

578

-343

53

676

743

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in cash, cash equivalents and restricted cash

23,739

-13,441

116,058

43,556

71,239

-12,613

-120,188

43,515

10,596

78,540

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-163

435

416

785

552

11

137

-42

-35

61

-8

-28

0

0

0

Increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,449

-182,248

-206,950

16,047

-84,927

116,013

100,543

-135,047

-41,485

-115,991

141,612

153,766

0

0

0

Supplemental Cash Flow Information:
Cash paid for interest

94,736

140,833

88,143

137,998

97,741

101,489

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

55,676

-

35,546

43,302

45,217

38,677

38,918

32,210

30,942

29,736

28,494

27,869

27,892

24,751

0

0

0

Cash paid for taxes

450

490

467

439

427

401

458

453

109

103

49

56

300

305

328

336

422

446

490

486

427

414

366

355

272

261

0

0

0

Noncash Investing and Financing Activities:
Purchases of property and equipment in current liabilities

-2,364

11,176

19,264

15,653

15,266

18,640

21,604

23,962

27,964

53,682

55,247

66,162

58,788

39,492

35,756

36,870

35,722

29,305

38,372

28,171

40,169

30,404

21,563

11,989

10,836

15,460

0

0

0

Purchases of property and equipment paid by commercial airlines

19,851

19,287

15,207

12,572

10,430

7,474

21,695

22,661

22,414

23,762

10,798

10,993

13,050

13,804

13,861

13,853

12,410

10,163

9,608

8,961

6,978

5,558

3,655

3,985

4,535

5,840

0

0

0

Purchases of property and equipment under capital leases

-

-

-

-

-

-

-

-

-

-

1,820

2,033

3,253

2,177

-252

2,596

1,456

1,395

3,361

1,115

1,336

3,125

0

0

0

-

-

-

-

Acquisition of intangible assets in current liabilities

-

-

-

-

-

-

-

-

-

-

1,333

1,954

1,459

1,623

1,285

1,365

1,692

1,549

2,131

606

797

1,511

2,160

3,690

3,958

2,319

0

0

0

Asset retirement obligation

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

781

749

1,518

2,460

2,471

2,361

1,454

0

0

0

Asset retirement obligation incurred and adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Financing costs included in current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Class A and Class B senior convertible preferred stock return

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29,277

0

0

0

Accretion of preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,285

0

0

0

Equity financing costs included in current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0