Gogo (GOGO) Faces Triple Threat: Elevated Debt, Strained ATG Adds, Intensifying Starlink Competition in Commercial Aviation

Gogo Inc. (NASDAQ:GOGO) is one of the stocks that will double in 2026. On December 9, William Blair downgraded Gogo to Market Perform from Outperform The company faces significant pressure from several fronts: intensifying competition due to Elon Musk’s Starlink rolling out service to commercial aircraft, Gogo’s currently elevated net debt position, and the expectation that Air-to-Ground net additions will likely remain strained for the next several quarters as the company completes its migration of customers from legacy Classic systems to the AVANCE platform.

In Q3 2025, Gogo announced that the company shipped a record 437 Air-to-Ground/ATG units in the quarter, signaling strong future installation activity. Gogo is making substantial progress with new product launches, including the 5G, HDX, and FDX technologies, which are designed to improve speed, consistency, and performance. This product momentum has translated into major contract wins, notably a significant deal with VistaJet to deploy HDX and FDX across its fleet.

Gogo (GOGO) Faces Triple Threat: Elevated Debt, Strained ATG Adds, Intensifying Starlink Competition in Commercial Aviation

Gogo is also well-positioned in the under-penetrated business jet market, where global flight levels are currently 30% above pre-COVID levels, sustaining strong demand for broadband connectivity. The company is seeing positive growth in its MilGov end market, where recent contract wins validate its multi-orbit, multi-band strategy. Furthermore, the transition to 5G is expected to deliver substantial Average Revenue Per User upside, as the 5G service offering is valued at twice that of a classic customer’s plan, enabling streaming and video applications on board.

The company recorded $223.59 million in total quarterly revenue, which grew by 122.41% year-over-year and beat estimates by $1.36 million. The loss per share for Q3 totaled $0.01,

Gogo Inc. (NASDAQ:GOGO), together with its subsidiaries, provides broadband connectivity services to the aviation industry in the US and internationally.

While we acknowledge the potential of GOGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GOGO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.