vs
Side-by-side financial comparison of Gogo Inc. (GOGO) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Gogo Inc. is the larger business by last-quarter revenue ($230.6M vs $183.8M, roughly 1.3× Wheels Up Experience Inc.). Gogo Inc. runs the higher net margin — -4.3% vs -15.7%, a 11.4% gap on every dollar of revenue. On growth, Gogo Inc. posted the faster year-over-year revenue change (67.3% vs -10.2%). Gogo Inc. produced more free cash flow last quarter ($-25.4M vs $-58.3M). Over the past eight quarters, Gogo Inc.'s revenue compounded faster (48.7% CAGR vs -3.4%).
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...
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
GOGO vs UP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $230.6M | $183.8M |
| Net Profit | $-10.0M | $-28.9M |
| Gross Margin | — | 14.3% |
| Operating Margin | 6.2% | -0.9% |
| Net Margin | -4.3% | -15.7% |
| Revenue YoY | 67.3% | -10.2% |
| Net Profit YoY | 64.6% | 67.0% |
| EPS (diluted) | $-0.08 | $-0.04 |
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 | $183.8M | ||
| Q3 25 | $223.6M | $185.5M | ||
| Q2 25 | $226.0M | $189.6M | ||
| Q1 25 | $230.3M | $177.5M | ||
| Q4 24 | $137.8M | $204.8M | ||
| Q3 24 | $100.5M | $193.9M | ||
| Q2 24 | $102.1M | $196.3M | ||
| Q1 24 | $104.3M | $197.1M |
| Q4 25 | $-10.0M | $-28.9M | ||
| Q3 25 | $-1.9M | $-83.7M | ||
| Q2 25 | $12.8M | $-82.3M | ||
| Q1 25 | $12.0M | $-99.3M | ||
| Q4 24 | $-28.2M | $-87.5M | ||
| Q3 24 | $10.6M | $-57.7M | ||
| Q2 24 | $839.0K | $-97.0M | ||
| Q1 24 | $30.5M | $-97.4M |
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | 87.8% | 8.3% | ||
| Q1 25 | 87.3% | 10.8% | ||
| Q4 24 | — | 13.9% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | -0.6% |
| Q4 25 | 6.2% | -0.9% | ||
| Q3 25 | 12.9% | -33.1% | ||
| Q2 25 | 15.9% | -31.4% | ||
| Q1 25 | 15.3% | -45.5% | ||
| Q4 24 | -17.5% | -26.0% | ||
| Q3 24 | 19.0% | -21.6% | ||
| Q2 24 | 21.2% | -40.3% | ||
| Q1 24 | 33.2% | -42.9% |
| Q4 25 | -4.3% | -15.7% | ||
| Q3 25 | -0.9% | -45.1% | ||
| Q2 25 | 5.7% | -43.4% | ||
| Q1 25 | 5.2% | -55.9% | ||
| Q4 24 | -20.5% | -42.7% | ||
| Q3 24 | 10.6% | -29.8% | ||
| Q2 24 | 0.8% | -49.4% | ||
| Q1 24 | 29.2% | -49.4% |
| Q4 25 | $-0.08 | $-0.04 | ||
| Q3 25 | $-0.01 | $-0.12 | ||
| Q2 25 | $0.09 | $-0.12 | ||
| Q1 25 | $0.09 | $-0.14 | ||
| Q4 24 | $-0.22 | $-0.13 | ||
| Q3 24 | $0.08 | $-0.08 | ||
| Q2 24 | $0.01 | $-0.14 | ||
| Q1 24 | $0.23 | $-0.14 |
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 | $133.9M |
| Total DebtLower is stronger | — | $671.3M |
| Stockholders' EquityBook value | $101.1M | $-392.1M |
| Total Assets | $1.3B | $968.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.2M | $133.9M | ||
| Q3 25 | $133.6M | $125.3M | ||
| Q2 25 | $102.1M | $107.0M | ||
| Q1 25 | $70.3M | $171.8M | ||
| Q4 24 | $41.8M | $216.4M | ||
| Q3 24 | $176.7M | $115.9M | ||
| Q2 24 | $161.6M | $141.5M | ||
| Q1 24 | $152.8M | $180.9M |
| Q4 25 | — | $671.3M | ||
| Q3 25 | — | $766.5M | ||
| Q2 25 | — | $770.5M | ||
| Q1 25 | — | $765.8M | ||
| Q4 24 | — | $761.3M | ||
| Q3 24 | — | $596.9M | ||
| Q2 24 | — | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $101.1M | $-392.1M | ||
| Q3 25 | $107.0M | $-374.5M | ||
| Q2 25 | $102.8M | $-347.8M | ||
| Q1 25 | $82.9M | $-288.1M | ||
| Q4 24 | $69.3M | $-202.1M | ||
| Q3 24 | $52.7M | $-117.7M | ||
| Q2 24 | $52.0M | $-72.2M | ||
| Q1 24 | $62.4M | $936.0K |
| Q4 25 | $1.3B | $968.8M | ||
| Q3 25 | $1.3B | $973.0M | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $1.2B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $810.7M | $1.0B | ||
| Q2 24 | $802.7M | $1.1B | ||
| Q1 24 | $809.0M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| Free Cash FlowOCF − Capex | $-25.4M | $-58.3M |
| FCF MarginFCF / Revenue | -11.0% | -31.7% |
| Capex IntensityCapex / Revenue | 14.7% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.1M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.5M | $-18.4M | ||
| Q3 25 | $46.8M | $-37.1M | ||
| Q2 25 | $36.7M | $-62.9M | ||
| Q1 25 | $32.5M | $-47.9M | ||
| Q4 24 | $-38.3M | $37.9M | ||
| Q3 24 | $25.1M | $-16.9M | ||
| Q2 24 | $24.9M | $-25.2M | ||
| Q1 24 | $29.7M | $-73.8M |
| Q4 25 | $-25.4M | $-58.3M | ||
| Q3 25 | $27.3M | $-60.4M | ||
| Q2 25 | $33.5M | $-78.6M | ||
| Q1 25 | $29.7M | $-62.6M | ||
| Q4 24 | $-42.6M | $-70.2M | ||
| Q3 24 | $20.7M | $-21.9M | ||
| Q2 24 | $21.6M | $-30.8M | ||
| Q1 24 | $28.2M | $-77.8M |
| Q4 25 | -11.0% | -31.7% | ||
| Q3 25 | 12.2% | -32.6% | ||
| Q2 25 | 14.8% | -41.5% | ||
| Q1 25 | 12.9% | -35.3% | ||
| Q4 24 | -30.9% | -34.3% | ||
| Q3 24 | 20.6% | -11.3% | ||
| Q2 24 | 21.1% | -15.7% | ||
| Q1 24 | 27.0% | -39.5% |
| Q4 25 | 14.7% | 21.7% | ||
| Q3 25 | 8.7% | 12.5% | ||
| Q2 25 | 1.4% | 8.3% | ||
| Q1 25 | 1.2% | 8.3% | ||
| Q4 24 | 3.1% | 52.8% | ||
| Q3 24 | 4.4% | 2.6% | ||
| Q2 24 | 3.3% | 2.9% | ||
| Q1 24 | 1.4% | 2.0% |
| 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
GOGO
| Services | $191.9M | 83% |
| Products | $38.7M | 17% |
| Fcc Reimbursement Program | $2.0M | 1% |
UP
Segment breakdown not available.
