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Side-by-side financial comparison of Gogo Inc. (GOGO) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
IPG PHOTONICS CORP is the larger business by last-quarter revenue ($274.5M vs $230.6M, roughly 1.2× Gogo Inc.). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -4.3%, a 9.2% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs 17.1%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-25.4M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs 4.4%).
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...
IPG Photonics Corporation is a manufacturer of fiber lasers. IPG Photonics developed and commercialized optical fiber lasers, which are used in a variety of applications including materials processing, medical applications and telecommunications. IPG has manufacturing facilities in the United States, Germany, Russia and Italy.
GOGO vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $230.6M | $274.5M |
| Net Profit | $-10.0M | $13.3M |
| Gross Margin | — | 36.1% |
| Operating Margin | 6.2% | 1.2% |
| Net Margin | -4.3% | 4.8% |
| Revenue YoY | 67.3% | 17.1% |
| Net Profit YoY | 64.6% | 69.8% |
| EPS (diluted) | $-0.08 | $0.30 |
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 | $274.5M | ||
| Q3 25 | $223.6M | $250.8M | ||
| Q2 25 | $226.0M | $250.7M | ||
| Q1 25 | $230.3M | $227.8M | ||
| Q4 24 | $137.8M | $234.3M | ||
| Q3 24 | $100.5M | $233.1M | ||
| Q2 24 | $102.1M | $257.6M | ||
| Q1 24 | $104.3M | $252.0M |
| Q4 25 | $-10.0M | $13.3M | ||
| Q3 25 | $-1.9M | $7.5M | ||
| Q2 25 | $12.8M | $6.6M | ||
| Q1 25 | $12.0M | $3.8M | ||
| Q4 24 | $-28.2M | $7.8M | ||
| Q3 24 | $10.6M | $-233.6M | ||
| Q2 24 | $839.0K | $20.2M | ||
| Q1 24 | $30.5M | $24.1M |
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | 87.8% | 37.3% | ||
| Q1 25 | 87.3% | 39.4% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 38.7% |
| Q4 25 | 6.2% | 1.2% | ||
| Q3 25 | 12.9% | 3.1% | ||
| Q2 25 | 15.9% | 0.0% | ||
| Q1 25 | 15.3% | 0.8% | ||
| Q4 24 | -17.5% | 6.0% | ||
| Q3 24 | 19.0% | -108.7% | ||
| Q2 24 | 21.2% | 4.7% | ||
| Q1 24 | 33.2% | 7.6% |
| Q4 25 | -4.3% | 4.8% | ||
| Q3 25 | -0.9% | 3.0% | ||
| Q2 25 | 5.7% | 2.6% | ||
| Q1 25 | 5.2% | 1.6% | ||
| Q4 24 | -20.5% | 3.3% | ||
| Q3 24 | 10.6% | -100.2% | ||
| Q2 24 | 0.8% | 7.8% | ||
| Q1 24 | 29.2% | 9.6% |
| Q4 25 | $-0.08 | $0.30 | ||
| Q3 25 | $-0.01 | $0.18 | ||
| Q2 25 | $0.09 | $0.16 | ||
| Q1 25 | $0.09 | $0.09 | ||
| Q4 24 | $-0.22 | $0.27 | ||
| Q3 24 | $0.08 | $-5.33 | ||
| Q2 24 | $0.01 | $0.45 | ||
| Q1 24 | $0.23 | $0.52 |
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 | $839.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $101.1M | $2.1B |
| Total Assets | $1.3B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $839.3M | ||
| Q3 25 | $133.6M | $870.4M | ||
| Q2 25 | $102.1M | $899.6M | ||
| Q1 25 | $70.3M | $926.9M | ||
| Q4 24 | $41.8M | $930.2M | ||
| Q3 24 | $176.7M | $1.0B | ||
| Q2 24 | $161.6M | $1.1B | ||
| Q1 24 | $152.8M | $1.1B |
| Q4 25 | $101.1M | $2.1B | ||
| Q3 25 | $107.0M | $2.1B | ||
| Q2 25 | $102.8M | $2.1B | ||
| Q1 25 | $82.9M | $2.1B | ||
| Q4 24 | $69.3M | $2.0B | ||
| Q3 24 | $52.7M | $2.1B | ||
| Q2 24 | $52.0M | $2.3B | ||
| Q1 24 | $62.4M | $2.3B |
| Q4 25 | $1.3B | $2.4B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.2B | $2.3B | ||
| Q4 24 | $1.2B | $2.3B | ||
| Q3 24 | $810.7M | $2.4B | ||
| Q2 24 | $802.7M | $2.5B | ||
| Q1 24 | $809.0M | $2.6B |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $-25.4M | $10.9M |
| FCF MarginFCF / Revenue | -11.0% | 4.0% |
| Capex IntensityCapex / Revenue | 14.7% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $65.1M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.5M | $28.8M | ||
| Q3 25 | $46.8M | $35.3M | ||
| Q2 25 | $36.7M | $-2.2M | ||
| Q1 25 | $32.5M | $13.4M | ||
| Q4 24 | $-38.3M | $73.8M | ||
| Q3 24 | $25.1M | $66.1M | ||
| Q2 24 | $24.9M | $53.5M | ||
| Q1 24 | $29.7M | $54.6M |
| Q4 25 | $-25.4M | $10.9M | ||
| Q3 25 | $27.3M | $14.6M | ||
| Q2 25 | $33.5M | $-17.6M | ||
| Q1 25 | $29.7M | $-11.4M | ||
| Q4 24 | $-42.6M | $50.6M | ||
| Q3 24 | $20.7M | $43.0M | ||
| Q2 24 | $21.6M | $29.2M | ||
| Q1 24 | $28.2M | $26.5M |
| Q4 25 | -11.0% | 4.0% | ||
| Q3 25 | 12.2% | 5.8% | ||
| Q2 25 | 14.8% | -7.0% | ||
| Q1 25 | 12.9% | -5.0% | ||
| Q4 24 | -30.9% | 21.6% | ||
| Q3 24 | 20.6% | 18.4% | ||
| Q2 24 | 21.1% | 11.3% | ||
| Q1 24 | 27.0% | 10.5% |
| Q4 25 | 14.7% | 6.5% | ||
| Q3 25 | 8.7% | 8.3% | ||
| Q2 25 | 1.4% | 6.1% | ||
| Q1 25 | 1.2% | 10.9% | ||
| Q4 24 | 3.1% | 9.9% | ||
| Q3 24 | 4.4% | 9.9% | ||
| Q2 24 | 3.3% | 9.4% | ||
| Q1 24 | 1.4% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | 2.87× | -0.34× | ||
| Q1 25 | 2.70× | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | 2.36× | — | ||
| Q2 24 | 29.74× | 2.65× | ||
| Q1 24 | 0.97× | 2.27× |
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% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
