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EchoStar vs Gogo: revenue, profit, margins and growth compared

EchoStar brought in $15B of revenue in fiscal 2025, Gogo $910.5M in fiscal 2025. Revenue changed by -5.2% at EchoStar and +104.7% at Gogo on the year before, so Gogo grew faster. EchoStar kept -96.6% of its revenue as net profit, Gogo 1.4%. Free cash flow was -$1.1B at EchoStar and $65.1M at Gogo.

Side by side, latest fiscal year

ECHOGOGO
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$15B$910.5M
Revenue growth-5.2%+104.7%
Net income-$14.5B$12.9M
Net margin-96.6%1.4%
Free cash flow-$1.1B$65.1M
Free cash flow margin-7.1%7.2%
Earnings per share (diluted)-$50.41$0.09
Cash$1.9B$125.2M
Debt$26B$836.1M
Price to earningsn/a25.6
Market value$26.2B$311.7M
Dividend yieldn/an/a
Rank by revenue in sector#89 of 778 · Consumer discretionary#478 of 778 · Consumer discretionary

Over the years

Revenue
ECHO FY2018: $1.8BECHO FY2019: $1.9BECHO FY2020: $1.9BECHO FY2021: $19.8BECHO FY2022: $18.6BECHO FY2023: $17BECHO FY2024: $15.8BECHO FY2025: $15BGOGO FY2018: $290.2MGOGO FY2019: $309MGOGO FY2020: $269.7MGOGO FY2021: $335.7MGOGO FY2022: $404.1MGOGO FY2023: $397.6MGOGO FY2024: $444.7MGOGO FY2025: $910.5MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO $15BGOGO $910.5M
Net income
ECHO FY2018: -$40.5MECHO FY2019: -$62.9MECHO FY2020: -$40.2MECHO FY2021: $2.5BECHO FY2022: $2.5BECHO FY2023: -$1.7BECHO FY2024: -$119.5MECHO FY2025: -$14.5BGOGO FY2018: -$162MGOGO FY2019: -$146MGOGO FY2020: -$250MGOGO FY2021: $152.7MGOGO FY2022: $92.1MGOGO FY2023: $145.7MGOGO FY2024: $13.7MGOGO FY2025: $12.9MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$14.5BGOGO $12.9M
Net margin
ECHO FY2018: -2.3%ECHO FY2019: -3.3%ECHO FY2020: -2.1%ECHO FY2021: 12.5%ECHO FY2022: 13.3%ECHO FY2023: -10.0%ECHO FY2024: -0.8%ECHO FY2025: -96.6%GOGO FY2018: -55.8%GOGO FY2019: -47.3%GOGO FY2020: -92.7%GOGO FY2021: 45.5%GOGO FY2022: 22.8%GOGO FY2023: 36.6%GOGO FY2024: 3.1%GOGO FY2025: 1.4%FY18FY19FY20FY21FY22FY23FY24FY25
ECHO -96.6%GOGO 1.4%
Revenue growth
ECHO FY2019: +7.0%ECHO FY2020: +0.1%ECHO FY2021: +949.8%ECHO FY2022: -6.0%ECHO FY2023: -8.7%ECHO FY2024: -7.0%ECHO FY2025: -5.2%GOGO FY2019: +6.5%GOGO FY2020: -12.7%GOGO FY2021: +24.5%GOGO FY2022: +20.4%GOGO FY2023: -1.6%GOGO FY2024: +11.9%GOGO FY2025: +104.7%FY19FY20FY21FY22FY23FY24FY25
ECHO -5.2%GOGO +104.7%
Free cash flow
ECHO FY2018: $179.4MECHO FY2019: $237.7MECHO FY2020: $125.6MECHO FY2021: $3BECHO FY2022: $570.7MECHO FY2023: -$668.3MECHO FY2024: -$292.2MECHO FY2025: -$1.1BGOGO FY2018: -$85MGOGO FY2019: $62.6MGOGO FY2020: $2.7MGOGO FY2021: $62.4MGOGO FY2022: $59.5MGOGO FY2023: $62.7MGOGO FY2024: $27.9MGOGO FY2025: $65.1MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$1.1BGOGO $65.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about EchoStar and Gogo

Which is bigger by revenue, EchoStar or Gogo?

EchoStar is bigger by revenue: $15B in fiscal 2025, against $910.5M for Gogo in fiscal 2025.

Which keeps more of its revenue as profit, EchoStar or Gogo?

EchoStar had a net margin of -96.6% in fiscal 2025; Gogo had 1.4% in fiscal 2025.

Which grew revenue faster, EchoStar or Gogo?

In their latest fiscal years revenue changed by -5.2% at EchoStar and +104.7% at Gogo.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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