Gogo Inc. (NASDAQ: GOGO) shares plummeted 6.14% in pre-market trading following the release of its third-quarter 2025 financial results. The in-flight broadband provider reported disappointing earnings that fell short of analyst expectations, despite a significant increase in revenue.

For the third quarter, Gogo posted a loss of $0.01 per share, missing the analyst consensus estimate of $0.08 by a wide margin. This represents a substantial decline from the $0.12 per share earnings reported in the same period last year. The company's bottom line was impacted by a $15 million pre-tax acquisition-related earn-out accrual, resulting in a net loss of $1.9 million for the quarter.

On a more positive note, Gogo's revenue surged 122% year-over-year to $223.6 million, slightly beating the analyst estimate of $222.8 million. The impressive revenue growth was largely attributed to the contribution of $121.8 million from the Satcom Direct acquisition. Despite the earnings miss, the company reiterated its 2025 financial guidance at the high end of the guided ranges for revenue, adjusted EBITDA, and free cash flow. Gogo also reported record Air-to-Ground equipment shipments and continued progress on its 5G network, slated for launch by the end of 2025. However, these achievements were overshadowed by the unexpected earnings loss, leading to the sharp pre-market decline in stock price.