GOGO Gogo Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 3/4 quarters. Q3 2025: $8M, Q2 2025: $13M, Q1 2025: $10M, Q3 2024: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $8M vs trailing avg $8M (-1%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $31M / FCF $54M = 57% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Missing shares repurchased or outstanding data

Are officers and directors buying stock with their own money on the open market?

10 open-market purchases by 4 insiders

• TOWNSEND CHARLES C () bought 158,591 shares at $4.57 on 2026-03-12
• TOWNSEND CHARLES C () bought 91,409 shares at $4.54 on 2026-03-11
• THORNE OAKLEIGH (Executive Chair) bought 20,000 shares at $5.24 on 2025-12-12
• THORNE OAKLEIGH (Executive Chair) bought 150,000 shares at $5.35 on 2025-12-12
• TOWNSEND CHARLES C () bought 31,228 shares at $7.17 on 2025-11-19
• TOWNSEND CHARLES C () bought 58,763 shares at $6.87 on 2025-11-18
• TOWNSEND CHARLES C () bought 78,695 shares at $7.07 on 2025-11-17
• TOWNSEND CHARLES C () bought 31,314 shares at $7.10 on 2025-11-14
• Moore Christopher John (Chief Executive Officer) bought 10,000 shares at $12.11 on 2025-08-08
• CRANDALL ROBERT L () bought 25,000 shares at $11.84 on 2025-05-13

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 3 quarters and 10 insider purchases by 4 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $2M, sold $0M in the last 90 days (net buying)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 24.6x more than bought. 1 C-suite officers among sellers

• Begler Michael (EVP, COO) sold 107,136 shares on 2025-06-18