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Side-by-side financial comparison of Elauwit Connection, Inc. (ELWT) and Gogo Inc. (GOGO). Click either name above to swap in a different company.
Gogo Inc. is the larger business by last-quarter revenue ($230.6M vs $4.8M, roughly 48.3× Elauwit Connection, Inc.). Gogo Inc. runs the higher net margin — -4.3% vs -13.4%, a 9.0% gap on every dollar of revenue.
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...
ELWT vs GOGO — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $230.6M |
| Net Profit | $-639.0K | $-10.0M |
| Gross Margin | 29.7% | — |
| Operating Margin | -7.4% | 6.2% |
| Net Margin | -13.4% | -4.3% |
| Revenue YoY | — | 67.3% |
| Net Profit YoY | — | 64.6% |
| EPS (diluted) | $-0.13 | $-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 | — | $230.6M | ||
| Q3 25 | $4.8M | $223.6M | ||
| Q2 25 | — | $226.0M | ||
| Q1 25 | — | $230.3M | ||
| Q4 24 | — | $137.8M | ||
| Q3 24 | — | $100.5M | ||
| Q2 24 | — | $102.1M | ||
| Q1 24 | — | $104.3M |
| Q4 25 | — | $-10.0M | ||
| Q3 25 | $-639.0K | $-1.9M | ||
| Q2 25 | — | $12.8M | ||
| Q1 25 | — | $12.0M | ||
| Q4 24 | — | $-28.2M | ||
| Q3 24 | — | $10.6M | ||
| Q2 24 | — | $839.0K | ||
| Q1 24 | — | $30.5M |
| Q4 25 | — | — | ||
| Q3 25 | 29.7% | — | ||
| Q2 25 | — | 87.8% | ||
| Q1 25 | — | 87.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 6.2% | ||
| Q3 25 | -7.4% | 12.9% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | -17.5% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | — | 21.2% | ||
| Q1 24 | — | 33.2% |
| Q4 25 | — | -4.3% | ||
| Q3 25 | -13.4% | -0.9% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | -20.5% | ||
| Q3 24 | — | 10.6% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 29.2% |
| Q4 25 | — | $-0.08 | ||
| Q3 25 | $-0.13 | $-0.01 | ||
| Q2 25 | — | $0.09 | ||
| Q1 25 | — | $0.09 | ||
| Q4 24 | — | $-0.22 | ||
| Q3 24 | — | $0.08 | ||
| Q2 24 | — | $0.01 | ||
| Q1 24 | — | $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 | $762.0K | $125.2M |
| Total DebtLower is stronger | $4.2M | — |
| Stockholders' EquityBook value | $-6.4M | $101.1M |
| Total Assets | $7.7M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $125.2M | ||
| Q3 25 | $762.0K | $133.6M | ||
| Q2 25 | — | $102.1M | ||
| Q1 25 | — | $70.3M | ||
| Q4 24 | — | $41.8M | ||
| Q3 24 | — | $176.7M | ||
| Q2 24 | — | $161.6M | ||
| Q1 24 | — | $152.8M |
| Q4 25 | — | — | ||
| Q3 25 | $4.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $101.1M | ||
| Q3 25 | $-6.4M | $107.0M | ||
| Q2 25 | — | $102.8M | ||
| Q1 25 | — | $82.9M | ||
| Q4 24 | — | $69.3M | ||
| Q3 24 | — | $52.7M | ||
| Q2 24 | — | $52.0M | ||
| Q1 24 | — | $62.4M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | $7.7M | $1.3B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $810.7M | ||
| Q2 24 | — | $802.7M | ||
| Q1 24 | — | $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 | $-1.3M | $8.5M |
| Free Cash FlowOCF − Capex | — | $-25.4M |
| FCF MarginFCF / Revenue | — | -11.0% |
| Capex IntensityCapex / Revenue | — | 14.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $65.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $8.5M | ||
| Q3 25 | $-1.3M | $46.8M | ||
| Q2 25 | — | $36.7M | ||
| Q1 25 | — | $32.5M | ||
| Q4 24 | — | $-38.3M | ||
| Q3 24 | — | $25.1M | ||
| Q2 24 | — | $24.9M | ||
| Q1 24 | — | $29.7M |
| Q4 25 | — | $-25.4M | ||
| Q3 25 | — | $27.3M | ||
| Q2 25 | — | $33.5M | ||
| Q1 25 | — | $29.7M | ||
| Q4 24 | — | $-42.6M | ||
| Q3 24 | — | $20.7M | ||
| Q2 24 | — | $21.6M | ||
| Q1 24 | — | $28.2M |
| Q4 25 | — | -11.0% | ||
| Q3 25 | — | 12.2% | ||
| Q2 25 | — | 14.8% | ||
| Q1 25 | — | 12.9% | ||
| Q4 24 | — | -30.9% | ||
| Q3 24 | — | 20.6% | ||
| Q2 24 | — | 21.1% | ||
| Q1 24 | — | 27.0% |
| Q4 25 | — | 14.7% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | — | 2.70× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 29.74× | ||
| Q1 24 | — | 0.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELWT
Segment breakdown not available.
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
