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Side-by-side financial comparison of Gogo Inc. (GOGO) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($242.9M vs $230.6M, roughly 1.1× Gogo Inc.). HCI Group, Inc. runs the higher net margin — 35.0% vs -4.3%, a 39.3% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs 12.2%). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs 8.5%).
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...
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
GOGO vs HCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $230.6M | $242.9M |
| Net Profit | $-10.0M | $85.0M |
| Gross Margin | — | — |
| Operating Margin | 6.2% | — |
| Net Margin | -4.3% | 35.0% |
| Revenue YoY | 67.3% | 12.2% |
| Net Profit YoY | 64.6% | 14.6% |
| EPS (diluted) | $-0.08 | $5.45 |
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.
| Q1 26 | — | $242.9M | ||
| Q4 25 | $230.6M | $246.2M | ||
| Q3 25 | $223.6M | $216.3M | ||
| Q2 25 | $226.0M | $221.9M | ||
| Q1 25 | $230.3M | $216.4M | ||
| Q4 24 | $137.8M | $161.9M | ||
| Q3 24 | $100.5M | $175.3M | ||
| Q2 24 | $102.1M | $206.2M |
| Q1 26 | — | $85.0M | ||
| Q4 25 | $-10.0M | $97.7M | ||
| Q3 25 | $-1.9M | $65.5M | ||
| Q2 25 | $12.8M | $66.2M | ||
| Q1 25 | $12.0M | $69.7M | ||
| Q4 24 | $-28.2M | $2.6M | ||
| Q3 24 | $10.6M | $5.7M | ||
| Q2 24 | $839.0K | $54.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 87.8% | — | ||
| Q1 25 | 87.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | 6.2% | 58.5% | ||
| Q3 25 | 12.9% | 41.9% | ||
| Q2 25 | 15.9% | 42.5% | ||
| Q1 25 | 15.3% | 46.4% | ||
| Q4 24 | -17.5% | 3.6% | ||
| Q3 24 | 19.0% | 8.0% | ||
| Q2 24 | 21.2% | 36.9% |
| Q1 26 | — | 35.0% | ||
| Q4 25 | -4.3% | 39.7% | ||
| Q3 25 | -0.9% | 30.3% | ||
| Q2 25 | 5.7% | 29.8% | ||
| Q1 25 | 5.2% | 32.2% | ||
| Q4 24 | -20.5% | 1.6% | ||
| Q3 24 | 10.6% | 3.2% | ||
| Q2 24 | 0.8% | 26.2% |
| Q1 26 | — | $5.45 | ||
| Q4 25 | $-0.08 | $7.29 | ||
| Q3 25 | $-0.01 | $4.90 | ||
| Q2 25 | $0.09 | $5.18 | ||
| Q1 25 | $0.09 | $5.35 | ||
| Q4 24 | $-0.22 | $0.32 | ||
| Q3 24 | $0.08 | $0.52 | ||
| Q2 24 | $0.01 | $4.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $125.2M | $1.0B |
| Total DebtLower is stronger | — | $31.7M |
| Stockholders' EquityBook value | $101.1M | $1.1B |
| Total Assets | $1.3B | $2.6B |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.0B | ||
| Q4 25 | $125.2M | $1.2B | ||
| Q3 25 | $133.6M | $987.9M | ||
| Q2 25 | $102.1M | $947.2M | ||
| Q1 25 | $70.3M | $754.5M | ||
| Q4 24 | $41.8M | $532.5M | ||
| Q3 24 | $176.7M | $518.8M | ||
| Q2 24 | $161.6M | $445.8M |
| Q1 26 | — | $31.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $101.1M | $1.0B | ||
| Q3 25 | $107.0M | $821.8M | ||
| Q2 25 | $102.8M | $758.6M | ||
| Q1 25 | $82.9M | $522.7M | ||
| Q4 24 | $69.3M | $453.3M | ||
| Q3 24 | $52.7M | $455.3M | ||
| Q2 24 | $52.0M | $447.3M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $1.3B | $2.5B | ||
| Q3 25 | $1.3B | $2.3B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.2B | $2.2B | ||
| Q3 24 | $810.7M | $2.0B | ||
| Q2 24 | $802.7M | $1.9B |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $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.
| Q1 26 | — | — | ||
| Q4 25 | $8.5M | $444.4M | ||
| Q3 25 | $46.8M | $26.7M | ||
| Q2 25 | $36.7M | $145.0M | ||
| Q1 25 | $32.5M | $162.0M | ||
| Q4 24 | $-38.3M | $331.8M | ||
| Q3 24 | $25.1M | $104.1M | ||
| Q2 24 | $24.9M | $-29.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-25.4M | $440.8M | ||
| Q3 25 | $27.3M | $25.9M | ||
| Q2 25 | $33.5M | $144.5M | ||
| Q1 25 | $29.7M | $160.3M | ||
| Q4 24 | $-42.6M | $327.8M | ||
| Q3 24 | $20.7M | $103.2M | ||
| Q2 24 | $21.6M | $-30.1M |
| Q1 26 | — | — | ||
| Q4 25 | -11.0% | 179.0% | ||
| Q3 25 | 12.2% | 12.0% | ||
| Q2 25 | 14.8% | 65.1% | ||
| Q1 25 | 12.9% | 74.1% | ||
| Q4 24 | -30.9% | 202.5% | ||
| Q3 24 | 20.6% | 58.9% | ||
| Q2 24 | 21.1% | -14.6% |
| Q1 26 | — | — | ||
| Q4 25 | 14.7% | 1.5% | ||
| Q3 25 | 8.7% | 0.4% | ||
| Q2 25 | 1.4% | 0.2% | ||
| Q1 25 | 1.2% | 0.8% | ||
| Q4 24 | 3.1% | 2.5% | ||
| Q3 24 | 4.4% | 0.5% | ||
| Q2 24 | 3.3% | 0.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.55× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | 2.87× | 2.19× | ||
| Q1 25 | 2.70× | 2.32× | ||
| Q4 24 | — | 128.41× | ||
| Q3 24 | 2.36× | 18.33× | ||
| Q2 24 | 29.74× | -0.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
HCI
Segment breakdown not available.
