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Side-by-side financial comparison of Gogo Inc. (GOGO) and H2O AMERICA (HTO). Click either name above to swap in a different company.
Gogo Inc. is the larger business by last-quarter revenue ($230.6M vs $199.4M, roughly 1.2× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs -4.3%, a 12.5% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs 1.5%). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs 15.3%).
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...
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
GOGO vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $230.6M | $199.4M |
| Net Profit | $-10.0M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 6.2% | 16.6% |
| Net Margin | -4.3% | 8.1% |
| Revenue YoY | 67.3% | 1.5% |
| Net Profit YoY | 64.6% | -29.2% |
| EPS (diluted) | $-0.08 | $0.45 |
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.
| Q4 25 | $230.6M | $199.4M | ||
| Q3 25 | $223.6M | $243.5M | ||
| Q2 25 | $226.0M | $197.8M | ||
| Q1 25 | $230.3M | $164.9M | ||
| Q4 24 | $137.8M | $196.5M | ||
| Q3 24 | $100.5M | $216.7M | ||
| Q2 24 | $102.1M | $173.1M | ||
| Q1 24 | $104.3M | $150.0M |
| Q4 25 | $-10.0M | $16.2M | ||
| Q3 25 | $-1.9M | $45.1M | ||
| Q2 25 | $12.8M | $24.7M | ||
| Q1 25 | $12.0M | $16.6M | ||
| Q4 24 | $-28.2M | $22.9M | ||
| Q3 24 | $10.6M | $38.7M | ||
| Q2 24 | $839.0K | $20.7M | ||
| Q1 24 | $30.5M | $11.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 87.8% | — | ||
| Q1 25 | 87.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 6.2% | 16.6% | ||
| Q3 25 | 12.9% | 26.5% | ||
| Q2 25 | 15.9% | 22.2% | ||
| Q1 25 | 15.3% | 21.8% | ||
| Q4 24 | -17.5% | 22.2% | ||
| Q3 24 | 19.0% | 26.9% | ||
| Q2 24 | 21.2% | 23.4% | ||
| Q1 24 | 33.2% | 18.6% |
| Q4 25 | -4.3% | 8.1% | ||
| Q3 25 | -0.9% | 18.5% | ||
| Q2 25 | 5.7% | 12.5% | ||
| Q1 25 | 5.2% | 10.0% | ||
| Q4 24 | -20.5% | 11.7% | ||
| Q3 24 | 10.6% | 17.8% | ||
| Q2 24 | 0.8% | 12.0% | ||
| Q1 24 | 29.2% | 7.8% |
| Q4 25 | $-0.08 | $0.45 | ||
| Q3 25 | $-0.01 | $1.27 | ||
| Q2 25 | $0.09 | $0.71 | ||
| Q1 25 | $0.09 | $0.49 | ||
| Q4 24 | $-0.22 | $0.70 | ||
| Q3 24 | $0.08 | $1.17 | ||
| Q2 24 | $0.01 | $0.64 | ||
| Q1 24 | $0.23 | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $101.1M | $1.5B |
| Total Assets | $1.3B | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $20.7M | ||
| Q3 25 | $133.6M | $11.3M | ||
| Q2 25 | $102.1M | $19.8M | ||
| Q1 25 | $70.3M | $23.7M | ||
| Q4 24 | $41.8M | $11.1M | ||
| Q3 24 | $176.7M | $4.0M | ||
| Q2 24 | $161.6M | $22.8M | ||
| Q1 24 | $152.8M | $4.5M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $101.1M | $1.5B | ||
| Q3 25 | $107.0M | $1.5B | ||
| Q2 25 | $102.8M | $1.5B | ||
| Q1 25 | $82.9M | $1.4B | ||
| Q4 24 | $69.3M | $1.4B | ||
| Q3 24 | $52.7M | $1.3B | ||
| Q2 24 | $52.0M | $1.3B | ||
| Q1 24 | $62.4M | $1.2B |
| Q4 25 | $1.3B | $5.1B | ||
| Q3 25 | $1.3B | $5.0B | ||
| Q2 25 | $1.3B | $4.8B | ||
| Q1 25 | $1.2B | $4.7B | ||
| Q4 24 | $1.2B | $4.7B | ||
| Q3 24 | $810.7M | $4.6B | ||
| Q2 24 | $802.7M | $4.4B | ||
| Q1 24 | $809.0M | $4.4B |
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $63.5M |
| Free Cash FlowOCF − Capex | $-25.4M | — |
| FCF MarginFCF / Revenue | -11.0% | — |
| Capex IntensityCapex / Revenue | 14.7% | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $65.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.5M | $63.5M | ||
| Q3 25 | $46.8M | $77.3M | ||
| Q2 25 | $36.7M | $60.8M | ||
| Q1 25 | $32.5M | $43.2M | ||
| Q4 24 | $-38.3M | $41.5M | ||
| Q3 24 | $25.1M | $53.5M | ||
| Q2 24 | $24.9M | $49.3M | ||
| Q1 24 | $29.7M | $51.2M |
| 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 | — | 3.92× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | 2.87× | 2.47× | ||
| Q1 25 | 2.70× | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 2.36× | 1.39× | ||
| Q2 24 | 29.74× | 2.38× | ||
| Q1 24 | 0.97× | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
