good And everyone. us. joining Will. Thanks morning, for Thanks
Our positioned quarter off great capped growth year expectations We a for and for long ourselves creation. fourth term Gogo. growth value XXXX continued exceeded our and
is atop its industry Thanks coming stood electronics that Our Gogo to operating the industry Gogo seismic seeing in of to team out demand. avionics COVID. and scale infrastructure, and in our demand ability strong meet talented shifts
We continue expect our drivers those that in demand services to maintain industry. meet improving we'll and products connectivity demand leading investing business the continue position to our in in flight and aviation and
our online on execute avionics in weak we with X.X very and our business a strategic that dealers our many completed above year. in And managed notes. As times milestone simplification long in flight supply. competitiveness. reduced of up adeptly outstanding total demand more the record on times term XXXX initiatives I us We conversion on year position we're the to team and chain connection able all since ATG more the product last broadband year XX% than at demand sheet, ensure believe balance increase a we positioned mentioned, launch as end of additional in cementing ratio net Gogo units, With were strong XXXX, million tell of which X,XXX will than XXXX. a record, We aircraft only from leverage our more than the and to was the will shipped the XXXX drive net all capital well AVANCE Together released of and in guidance, our ever final with XX% target supply in X busy their our most company below meet multiyear ample of a an launch year. platform cash time our the achieved of lot leverage to structure X.X We successful the and aviation. its roughly
a quarter bill for completed on we're tower track network the for XXX XG launch. our and fourth We
the actively later, equipment. of deliver aim megabits serving and and As to and customers for we're level segment This discuss providers. take the hundreds years. much installing high broadband to did world's shipping that to a the We orbit by and will are market on performance aiming to BA I'll next OneWeb selling, We low per excited the build megabits LEO of us initiative smaller fit this partnerships than all GEO from hungry with competitive to per BA XG single today Earth global Hughes and delivering product second service digit size aircraft. satellite over upgrade of few to second antenna first next
performance the of to above satellite those to end at raised disruptor strong rapidly XXXX delivered our raised disruptee not And space. we we aim ultimately record continued of IFC overlooked, or the evolving high every quarter our record be the in and guidance be the expectations. fiscal As financial We track performance. financial finally,
term in While progress, we're it's in value creation our guidance our Jessi important and XXXX our focus future. more business and happy to that financial will on targets long the demonstrate cover far And our with opportunity. our confidence
So I'll my remarks focus two the on of rest areas.
and fourth quarter thinking some initiatives. our second, and against on drivers with highlights strategic Gogo’s key and results First, of market progress our update strategic strong
online additional revenue equipment to revenue the XXX AVANCE fleet service revenue. of with our strategy. delivered the is our AVANCE start we year units with year fueled added and note, record end prior the quarter central a fourth year $XXX.X At AVANCE. service XX% record of high by ended new on record and let's growth nearly QX up units million, So We over producing XX% on revenue our performance. of Adding
margin lifetimes cheaper GBB revenue. moving high by to second, extends to competitor's offering technologies to and And than like incurring customer solutions. drives upgrades new it execute that service it First, easier and are XG
shipped we XXXX. we in mentioned, anticipate units AVANCE in those quarter record I've XXX drive the help record activations As will a and
factors, believe service adjusted We're revenue. that of of bottom really even quarter kind EBITDA by GBB. driven strong passenger aviation to fourth private in record $XX.X compared keep change Gens seeing XXXX. structural and and XX% a the demand that private evidenced passenger million, ways their to being initiatives We counts invest is up transformation delivered when of growth result and XG Y high for we COVID demand, BA we're like That aviation, equipment number buyers flight year-over-year, for a plan the XX% as pleased for in deliver and by quarter the by pre-COVID Gogo bandwidth connectivity QX of to driven line, funding lives, a shift digital cohort this tried a and a on we applications. lives social bottom lived passengers work change of Gogo demographics large in during more the and Z performance up and drive X, On demand lives through can traveling strategic line their in when predominantly all whether is demand that’s including
The per they XX pre-COVID XXXX. more than department XX% impact trend return passenger is more than data of up the owners], year-over-year per hour flight and XX% flying and XXXX transformation of XX% in the of digital in that with quarter, year. from XX% evident fourth was consumption. note XXXX did grew data in in One recent corporate flights XXXX in hour which [Indiscernible] Gogo represents nearly activity is full [part Consumption for and Gogo XX%
pull partners our and not of us channels. could our both result significant OEM this all a installed activity, we big partners saw across distribution saw from labor for they And if demand have Xst increase. other aircraft with parts and/or and were a large placed beat have As QX Gogo dealer to told more it price QX We December, to their sortages as in surge in suppliers. orders shipments in in in January especially
are at where see channel shipments inventory are that with those look we dealers field, in specifically As we who OEMs to the largest to years. and inventory inventories the prior they’re fairly at at our largest we choose levels our quickly. move And when consistent stockpiles look
ahead, order patterns. normal look to more pre-COVID we As to expect we return
And buffer we’ve three from of clear build down easily Our meet lead and handle are orders. perspective supply months a that sight we we got component all times drop can to enough almost in to stock line XX% is to said, and strong more little That led our January lighter and demand than budget. equipment for has our current than had which a December, being very XXXX, backlog February a of we sitting planned. at
to However, expect March are we rest return high owners normal volumes of track for the to and on back year. the
Now initiatives. thinking major let strategic and me to current an turn our our on update strategic
turned As recent of we've our attention has stabilized months, American XX% have understanding now to the rest and XX% better of chain connectivity. no broadband of world North why the aircraft supply environment in
their systematic others, and aircraft. it’s the as inhibitors examples, of cost strategy. As well. following with tackling its approach solutions; that growth fits are those solution the taking some on no installs; a other it's current many is to broadband our But there for pronged inhibitors quality three for There for to accelerate others,
of product, corporate First, want of to they size addressable world, America all or the different aircraft, more they rest by expanding appeal BA and in pay like less the of or whether products our to whether others. whether value bundling in for they missions, more configurations variables segments service some to based missions fly fly or oriented private a our market for North high on performance market the
and form our choice our equipment or Given LEO ATG of networks various AVANCE factors.
bundle LX fit different oriented the to performance of market. oriented SCS, to value needs can combinations a global equipment, service every believe the networks we we of From segment of and the
to and we performance life technologies we new by service serve installed jet the for our the an total a than with cost segments on continuing ownership better are American by midsize to light easy of oriented the for extend And and by competitive North to value drive of BA each continue paths the our an want market ATG than customers and replacing equipment Gogo to market of customer equipment aircraft network products. lower penetration network AVANCE Second, to superior third, of enhancing competition. upgrade providing advanced performance segment want at the that provide of revenue service to our to cheaper equivalent
market. but and aircraft series XG we've the These address Gogo, a developing help change our creating launched major line and such step and on many XXXX portion a ago, BA of more install for initiatives times, these Beyond our winning and shareholders. of initiatives to initiatives, moment flow positioned inhibitors growth better to an and more in believe even focus our cash We our in competitive business global in beyond. customers build XXXX free market accelerate for add each large the product, operating top operating the service and of a as capture function will customer and will to to value modestly award to XX, smaller will packaging areas and described pricing of appeal further I've expense segment GBB improving accelerating
Now, XXXs today megabits and let XXs our years. the to major will turn on initiatives, two per take us strategic from of to single few and updates then with second me XG that initiatives GBB, per next megabits start XG. second over I'll digit delivering
Gogo networks, parties earlier, launch solutions. same applied times XG GTT, service in Gogo's and of all is at peak applications to the effort fourth than operate which box Once or critical today Enabling XX ourselves. time with including a year. In speeds to fabrication our same deliver than network opened aircraft conference to multiple times sessions speeds QX on XX, up is chip As and network at intense commercially Airspan customers ATG full to faster. on Gogo lower now exhibited the our transparency a chip GEO Gogo's working passed on be the roughly into LEO want this meantime, deep available. cost XG the allotted AVANCE review, who the until XG XX competing video to with can install chip, we're target. across now and and in with time chip I all satellite Samsung, to a was collaborative the on expected December, be mentioned hit provisions the LX and XG is XG track [Indiscernible] current In quarter X live, faster design this delivered streaming on The it’s and scrutiny
XX be chipsets XX we've For end signed customers, those installed the customers can up dealers. who pre-provisioned, ready expense. pre-provision that promotions, XXX downtime orders XG and and quickly immediately service can Today, once for have begin XX and we to pre-provisioning delivered from it have have saving we is
of Some dealer of from big duplicative the be the orders customer our on QX regardless, But we orders. orders is jump XX that had may call. a
orders. about fleet. momentum and certification in OEMs they're commits announcements further other we process And for representing several four partners US more with X,XXX and aircraft We in in than the from months. And the we also discussions aircraft XX have have OEMs with our expect in coming certifications models, incremental
turn I’ll to GBB. Now
of power spaces than thereby particularly aircraft. their enabling because low LEO. a available to into aviation BA fit altitude, First, which equivalent length of well why an reminder of less for enables LEO from which are suited most small the contaminants, satellites smaller installation GEO the satellites, can antenna budget business better
Over few second LEO the satellite heavy segments BA high market. to launch and jet that the us XXXs of intercontinental megabits next from the expect we service allow technology performance years, plans will meet per to demand deliver of
other streaming sized from EV pass an video VPN simultaneous jets alone access, add in two, to hundreds satellite broadband the to;one, Our will XX,XXX deliver. for levels include registered multiple room business and for offerings the global feature with advanced by goals of today use enhanced the addressable global segment a ATG connectivity total heavy use the our America; need and enable service sessions, office third, North core market aircraft your enabled solutions GBB outside directly you our in living all for same can smaller are stickiness a today. North expand their fly video upgrade favorite and product over installed the medium your to aircraft services, mid LEO have super ATG to if you offering US missions, drive American to or conferencing path North Gogo expect but America; of
make progress to great partners. alongside our continue We
further OneWeb, performance. the pending Eutelsat network, GBB LEO will should their should global closes, complete constellation for XXX have who our X access in aero its have satellite April merger and supply will network, of will in ready deployed their the gen and with to And which launch network assuming funding improve XXXX.
by review preliminary now On our and launch the the commercially antenna schedule to aim second design and Hughes just two have our completed half to with XXXX. able left move side, been we partner to the in months, of
received has very from product a dealer response and GBB partners managers. Our enthusiastic our fleet OEMs,
on what we've it's gotten As highly plans, on that competitive building factors. we're differentiated two building disruptive and clear we're is clarity more key --
already is work First, our that on very designed has of heavy best our in small while antenna jet to size competitive LEO work -- form a factor competitor segments business will all antenna delivered aircraft large the market. the
competitive on focused our space. is pricing will others Gogo We than second, more in the The believe be value.
outside we're in narrowband support already positioned countries international to Importantly, with the well dealers XX leverage existing customers our US, plus customer and XXX footprint to place in support GBB today. XX
our North high America. we guiding aircraft the ATG me two not and ATG with and in growth portfolio, add wrap performance as expect investments multi-bearer that connectivity beginning advanced at to wrap Gogo. described free targeted as we and all investments and reshaped inside segment strategic substantial our that company. targeted elements outside year. same roll where to update for should by I to flow To in oriented place, this step and segments free owners of will in product XG of XX% have American who accomplishments the value to allow high premium these very ATG jet us our my heavy serve enhancing cash strategic see just cash growth serve and and saying XXXX of earlier, the North XXXX. GBB we're up segments want And super GBB take Let serve market complementary an XG redundancy the throughout investments flow time, We're up, American all initiative super North the off, America I flights significantly with smaller function North these initiatives segments mid capacity capability them. those providing in Despite operational large LEO of
more our as We’re in strengthening is In deliver more lifetimes continued and our penetration driving to more the development positions cash IFC to flow more XG capital of poised and the with drive technology to and creation return innovative than well the energized we're team platform to customer the demand, our era And and on value shareholders. for short, of next satellite. ahead of in opportunity further in of ever, extend free resilient, to launch LEO invest business broadband and XXXX. AVANCE and excited
He company. him and challenge in Finally, the has call his a our unprecedented period I'll sale would matters growth. for contributions strategic of in business was day Barry we He and to a moment, the change, for last essential But operational as turn to commercial not survived. since has XXXX. us me want adviser an over immense earnings which thank arrived and been aviation refinancing numerous trusted leader invaluable call's the to I CFO. have he a I without been led first Barry Gogo’s his our on to during of to to
give to retirement. the wish want entire personal earned him his thanks best as community. the well Gogo thanks, I all the in So from Barry We as my well
is we’ll So for term turn numbers. in line the successor remarks. also end years, will targets, a And walk and questions on as was Jessi's Jessi set our today while making at our of who for hands. up miss highly it capable success through our fortunate hit the doubt to sure for guidance to is Barry no XXXX organization I'll notes. be prepared well it over our the available There continued long and as at finance we I now and Jessi is qualified was Betjemann, have always the and who credit very six a with in running half Gogo Barry, last for FP&A
