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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Gogo Inc. (GOGO). Click either name above to swap in a different company.
ASHFORD HOSPITALITY TRUST INC is the larger business by last-quarter revenue ($259.0M vs $230.6M, roughly 1.1× Gogo Inc.). Gogo Inc. runs the higher net margin — -4.3% vs -26.8%, a 22.4% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs -6.0%). Gogo Inc. produced more free cash flow last quarter ($-25.4M vs $-86.8M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs -7.7%).
Ashford Hospitality Trust Inc is a U.S.-headquartered real estate investment trust focused on upper-upscale full-service hotel properties across key U.S. urban, suburban and resort markets. Its portfolio holds assets under top global hospitality brands, serving business and leisure travelers, with a focus on long-term value growth and stable shareholder returns.
Gogo Inc. is an American provider of in-flight broadband Internet service and other connectivity services for business aircraft, headquartered in Broomfield, Colorado. Through its Gogo LLC subsidiary, Gogo previously provided in-flight WiFi to 17 airlines until the Commercial Air business was sold to Intelsat for $400 million in December 2020. According to Gogo, over 2,500 commercial aircraft and 6,600 business aircraft have been equipped with its onboard Wi-Fi services. The company is the de...
AHT vs GOGO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $230.6M |
| Net Profit | $-69.3M | $-10.0M |
| Gross Margin | — | — |
| Operating Margin | -2.6% | 6.2% |
| Net Margin | -26.8% | -4.3% |
| Revenue YoY | -6.0% | 67.3% |
| Net Profit YoY | 44.2% | 64.6% |
| EPS (diluted) | $-12.85 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $259.0M | $230.6M | ||
| Q3 25 | $266.1M | $223.6M | ||
| Q2 25 | $302.0M | $226.0M | ||
| Q1 25 | $277.4M | $230.3M | ||
| Q4 24 | $275.5M | $137.8M | ||
| Q3 24 | $276.6M | $100.5M | ||
| Q2 24 | $316.5M | $102.1M | ||
| Q1 24 | $303.9M | $104.3M |
| Q4 25 | $-69.3M | $-10.0M | ||
| Q3 25 | $-60.1M | $-1.9M | ||
| Q2 25 | $-30.4M | $12.8M | ||
| Q1 25 | $-20.0M | $12.0M | ||
| Q4 24 | $-124.2M | $-28.2M | ||
| Q3 24 | $-57.9M | $10.6M | ||
| Q2 24 | $50.3M | $839.0K | ||
| Q1 24 | $71.6M | $30.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 87.8% | ||
| Q1 25 | — | 87.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -2.6% | 6.2% | ||
| Q3 25 | 4.6% | 12.9% | ||
| Q2 25 | 16.3% | 15.9% | ||
| Q1 25 | 22.2% | 15.3% | ||
| Q4 24 | -17.8% | -17.5% | ||
| Q3 24 | 7.3% | 19.0% | ||
| Q2 24 | 42.8% | 21.2% | ||
| Q1 24 | 50.2% | 33.2% |
| Q4 25 | -26.8% | -4.3% | ||
| Q3 25 | -22.6% | -0.9% | ||
| Q2 25 | -10.1% | 5.7% | ||
| Q1 25 | -7.2% | 5.2% | ||
| Q4 24 | -45.1% | -20.5% | ||
| Q3 24 | -20.9% | 10.6% | ||
| Q2 24 | 15.9% | 0.8% | ||
| Q1 24 | 23.5% | 29.2% |
| Q4 25 | $-12.85 | $-0.08 | ||
| Q3 25 | $-11.35 | $-0.01 | ||
| Q2 25 | $-6.88 | $0.09 | ||
| Q1 25 | $-4.91 | $0.09 | ||
| Q4 24 | $-13.64 | $-0.22 | ||
| Q3 24 | $-12.39 | $0.08 | ||
| Q2 24 | $2.50 | $0.01 | ||
| Q1 24 | $5.99 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.1M | $125.2M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $101.1M |
| Total Assets | $2.8B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $125.2M | ||
| Q3 25 | $81.9M | $133.6M | ||
| Q2 25 | $100.0M | $102.1M | ||
| Q1 25 | $85.8M | $70.3M | ||
| Q4 24 | $112.9M | $41.8M | ||
| Q3 24 | $119.7M | $176.7M | ||
| Q2 24 | $121.8M | $161.6M | ||
| Q1 24 | $111.1M | $152.8M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — | ||
| Q1 24 | $2.9B | — |
| Q4 25 | $-626.4M | $101.1M | ||
| Q3 25 | $-548.7M | $107.0M | ||
| Q2 25 | $-485.5M | $102.8M | ||
| Q1 25 | $-446.1M | $82.9M | ||
| Q4 24 | $-419.2M | $69.3M | ||
| Q3 24 | $-288.4M | $52.7M | ||
| Q2 24 | $-225.9M | $52.0M | ||
| Q1 24 | $-276.8M | $62.4M |
| Q4 25 | $2.8B | $1.3B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.1B | $1.3B | ||
| Q1 25 | $3.1B | $1.2B | ||
| Q4 24 | $3.2B | $1.2B | ||
| Q3 24 | $3.3B | $810.7M | ||
| Q2 24 | $3.3B | $802.7M | ||
| Q1 24 | $3.5B | $809.0M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.7M | $8.5M |
| Free Cash FlowOCF − Capex | $-86.8M | $-25.4M |
| FCF MarginFCF / Revenue | -33.5% | -11.0% |
| Capex IntensityCapex / Revenue | 27.5% | 14.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | $65.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.7M | $8.5M | ||
| Q3 25 | $5.5M | $46.8M | ||
| Q2 25 | $16.3M | $36.7M | ||
| Q1 25 | $-25.0M | $32.5M | ||
| Q4 24 | $-23.6M | $-38.3M | ||
| Q3 24 | $795.0K | $25.1M | ||
| Q2 24 | $8.0M | $24.9M | ||
| Q1 24 | $-46.5M | $29.7M |
| Q4 25 | $-86.8M | $-25.4M | ||
| Q3 25 | $-226.0K | $27.3M | ||
| Q2 25 | $-3.6M | $33.5M | ||
| Q1 25 | $-44.8M | $29.7M | ||
| Q4 24 | $-131.6M | $-42.6M | ||
| Q3 24 | $-21.8M | $20.7M | ||
| Q2 24 | $-22.9M | $21.6M | ||
| Q1 24 | $-80.4M | $28.2M |
| Q4 25 | -33.5% | -11.0% | ||
| Q3 25 | -0.1% | 12.2% | ||
| Q2 25 | -1.2% | 14.8% | ||
| Q1 25 | -16.2% | 12.9% | ||
| Q4 24 | -47.8% | -30.9% | ||
| Q3 24 | -7.9% | 20.6% | ||
| Q2 24 | -7.2% | 21.1% | ||
| Q1 24 | -26.5% | 27.0% |
| Q4 25 | 27.5% | 14.7% | ||
| Q3 25 | 2.1% | 8.7% | ||
| Q2 25 | 6.6% | 1.4% | ||
| Q1 25 | 7.2% | 1.2% | ||
| Q4 24 | 39.2% | 3.1% | ||
| Q3 24 | 8.2% | 4.4% | ||
| Q2 24 | 9.8% | 3.3% | ||
| Q1 24 | 11.2% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | — | 2.70× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | 0.16× | 29.74× | ||
| Q1 24 | -0.65× | 0.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
