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

Gogo brought in $910.5M of revenue in fiscal 2025, Globalstar $273M in fiscal 2025. Revenue changed by +104.7% at Gogo and +9.0% at Globalstar on the year before, so Gogo grew faster. Gogo kept 1.4% of its revenue as net profit, Globalstar -3.2%.

Side by side, latest fiscal year

GOGOGSAT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$910.5M$273M
Revenue growth+104.7%+9.0%
Net income$12.9M-$8.7M
Net margin1.4%-3.2%
Free cash flow$65.1Mn/a
Free cash flow margin7.2%n/a
Earnings per share (diluted)$0.09-$0.15
Cash$125.2M$447.5M
Debt$836.1M$483.8M
Price to earnings25.6n/a
Market value$311.7M$10.7B
Dividend yieldn/an/a
Rank by revenue in sector#478 of 778 · Consumer discretionary#628 of 778 · Consumer discretionary

Over the years

Revenue
GOGO FY2018: $290.2MGOGO FY2019: $309MGOGO FY2020: $269.7MGOGO FY2021: $335.7MGOGO FY2022: $404.1MGOGO FY2023: $397.6MGOGO FY2024: $444.7MGOGO FY2025: $910.5MGSAT FY2018: $130.1MGSAT FY2019: $131.7MGSAT FY2020: $128.5MGSAT FY2021: $124.3MGSAT FY2022: $148.5MGSAT FY2023: $223.8MGSAT FY2024: $250.3MGSAT FY2025: $273MFY18FY19FY20FY21FY22FY23FY24FY25
GOGO $910.5MGSAT $273M
Net income
GOGO FY2018: -$162MGOGO FY2019: -$146MGOGO FY2020: -$250MGOGO FY2021: $152.7MGOGO FY2022: $92.1MGOGO FY2023: $145.7MGOGO FY2024: $13.7MGOGO FY2025: $12.9MGSAT FY2018: -$6.5MGSAT FY2019: $15.3MGSAT FY2020: -$109.6MGSAT FY2021: -$112.6MGSAT FY2022: -$256.9MGSAT FY2023: -$24.7MGSAT FY2024: -$63.2MGSAT FY2025: -$8.7MFY18FY19FY20FY21FY22FY23FY24FY25
GOGO $12.9MGSAT -$8.7M
Net margin
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%GSAT FY2018: -5.0%GSAT FY2019: 11.6%GSAT FY2020: -85.3%GSAT FY2021: -90.6%GSAT FY2022: -173.0%GSAT FY2023: -11.0%GSAT FY2024: -25.2%GSAT FY2025: -3.2%FY18FY19FY20FY21FY22FY23FY24FY25
GOGO 1.4%GSAT -3.2%
Revenue growth
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%GSAT FY2019: +1.2%GSAT FY2020: -2.5%GSAT FY2021: -3.3%GSAT FY2022: +19.5%GSAT FY2023: +50.7%GSAT FY2024: +11.9%GSAT FY2025: +9.0%FY19FY20FY21FY22FY23FY24FY25
GOGO +104.7%GSAT +9.0%
Free cash flow
GOGO FY2018: -$85MGOGO FY2019: $62.6MGOGO FY2020: $2.7MGOGO FY2021: $62.4MGOGO FY2022: $59.5MGOGO FY2023: $62.7MGOGO FY2024: $27.9MGOGO FY2025: $65.1MGSAT FY2018: -$1.4MGSAT FY2019: -$1.5MFY18FY19FY20FY21FY22FY23FY24FY25
GOGO $65.1MGSAT -$1.5M

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

Questions about Gogo and Globalstar

Which is bigger by revenue, Gogo or Globalstar?

Gogo is bigger by revenue: $910.5M in fiscal 2025, against $273M for Globalstar in fiscal 2025.

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

Gogo had a net margin of 1.4% in fiscal 2025; Globalstar had -3.2% in fiscal 2025.

Which grew revenue faster, Gogo or Globalstar?

In their latest fiscal years revenue changed by +104.7% at Gogo and +9.0% at Globalstar.

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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