Good day, and thank you for standing by. Welcome to the Q1 2026 Gogo Inc. earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jim Golden, with Collected Strategies. Jim, go ahead. Thank you, good morning, everyone. Welcome to Gogo's Q1 2026 earnings conference call. On the call today to discuss the company's results are Gogo's CEO, Chris Moore, and CFO, Zach Cotner. During the course of this call, Mr. Moore and Mr. Cotner may make forward-looking statements regarding future events and the future performance of the company. Participants are cautioned to consider the risk factors that could cause actual results to differ materially from those in the forward-looking statements on this call. Those risk factors are described in the earnings release filed this morning and in a more fully detailed note under risk factors filed in the company's annual report on 10-K and 10-Q and other documents that the company has filed with the SEC. Please note that the date of this conference call is May 7, 2026. Any forward-looking statements made today are based on assumptions as of this date, and the company undertakes no obligation to update these statements as a result of more information or future events. During this call, Mr. Moore and Mr. Cotner will present both GAAP and non-GAAP financial measures. A reconciliation and explanation of adjustments and other considerations of the company's non-GAAP measures to the most comparable GAAP measures is available in Gogo's Q1 earnings release. The call is being webcast and available at ir.gogoair.com. The earnings release is also available on the website. After management comments, Mr. Moore and Mr. Cotner will host a Q&A session with the financial community only. I'll now turn the call over to Mr. Moore. Thank you and good morning. The defining theme of the 1st quarter has been the deliberate transition of our legacy-based services in air-to-ground and global satellite services into our next-generation technology portfolio. Consistent with prior earnings calls, I will focus on the continued demonstrable progress made across the compelling new product portfolio. These include Gogo Galileo with two models, HDX and FDX, both of which are providing game-changing increases in capacity, functionality, speed, and global consistency, as well as our 5G rollout on our existing GEO offerings. We're making steady progress on shipments, installations, and early activations across both 5G and Gogo Galileo. I will also highlight our recent fleet wins and long-term growth prospects from our military and government customer base. We believe these next-generation products are not only enhancing the value we deliver to existing customers, but also expanding our addressable market and creating a recurring revenue stream that sets the stage for free cash flow growth and long-term strategic value in the future. Let's start by reviewing Gogo Galileo, our global low-Earth orbit, or LEO service, in which we have two products, HDX and FDX, and where we continue to see encouraging progress. HDX serves as our entry point LEO solution, purpose-built for smaller aircraft, while FDX extends that capability to mid and large cabin aircraft with higher performance connectivity. Together, they position Galileo as a scalable full fleet solution spanning the breadth of our customer base globally. Our Q1 shipments were largely in line with what we projected. We shipped 92 units in the quarter, including 82 HDX and 10 FDX. This brings our total number of LEO terminals shipped to 410 units since launch and across 35 commercial supplemental type certificates or STCs. Our 35 STCs cover a total addressable market of approximately 7,000 aircraft. We have 14 additional STCs underway to be completed in the next few quarters, addressing another 1,500 aircraft for a total of 8,500 aircraft. Building on this progress, I want to highlight some significant fleet wins for our Gogo Galileo offering. VistaJet is rolling out Gogo Galileo across its fleet with approximately 100 aircraft currently in scope as part of the broader plan to equip more than 270 aircraft globally. Installations began in Europe and are now expanding into the U.S. with a steady cadence of roughly one aircraft every nine days, supported by continued STC progress. Wheels Up, another significant fleet win, is also rolling out Galileo across its 80+ aircraft in coordination with its fleet modernization strategy. Finally, we plan to have fully rolled out the committed aircraft with NetJets Europe in the first half of 2026, which currently make up half of our Galileo units online and have also started installations with NetJets North America. We remain confident with our Galileo projections given the strong pipeline, which is demonstrated with the rollout at major fleet operators. We expect a greater ramp of shipments as important installations at multiple OEMs are expected to start in the second half of the year, with Galileo becoming a line-fit option. Turning to our air-to-ground or ATG network, we're seeing significant momentum with our 5G rollout. Even though customers have been waiting a long time for 5G, we're seeing strong enthusiasm for the service. We sold an all-time record of 511 air-to-ground units this quarter, of which 52 were 5G, and we anticipate a very robust rollout throughout the rest of the year, with units online ramping in late Q3 and Q4. We have a very robust total pipeline of over 500 units. In terms of our legacy products, we reported record C1 conversions of 254 in the Q1. This momentum reflects a growing wave of customers upgrading to C1 to ensure a seamless transition from our EVDO network to our LTE network. Additionally, I'm also happy to announce that we've secured an extension from the FCC regarding our classic product migration, with the program completion deadline now extended to November 8, 2026. Under the FCC reimbursement program, we've also allocated our full approved amount of approximately $334 million to cover the cost of removing and replacing covered foreign equipment across the U.S. network and ATG aircraft. We believe this gives us the necessary flexibility to transition our customers from our classic service to our C1 and advanced products, giving them the room they need to operate seamlessly between the old service and the new, and adding robustness to our overall 5G and LTE rollout. We're also seeing strong support from our MRO and OEM partners in the network transition, including Duncan, who is outfitting their demonstration aircraft with 5G, as well as Textron, who is updating all of their STCs in the quarter. We are getting more customers exposed to our exciting new 5G network, which will continue to improve, especially with the new LTE network, which we expect to be fully operational by the end of 2026. Finally, let's now turn our attention to our geostationary Earth orbit or GEO business. GEO units online declined by 15 in the quarter, a moderate reduction from the net reduction of 22 we saw in Q4, reflecting continued resilience in our install base and demonstrating the strength of our OEM partnerships. Looking across the balance of the year, we do expect some attrition in our GA fleet, driven by broader market evolution towards next generation LEO and hybrid satellite solutions. We are closely monitoring RFU dynamics within our customer base. We continue to view GEO as a strategically valuable component of our network offering, particularly for customers whose mission profiles benefit from the global coverage and redundancy, where LEO has regulatory restrictions and proven reliability and accessibility of geostationary networks. As recently announced, our Plane Simple Ku-band platform continued to gain traction in the first quarter across both commercial and military end markets. AirX selected our Plane Simple Ku-band solution to upgrade its Challenger 850 fleet. The selection was driven by the simplicity of installation and our ability to provide a fully integrated end-to-end connectivity solution for a high utilization global fleet. We were also pleased to receive U.S. Air Force Mobility Command approval to offer our Plane Simple Ku-band tail mount on the C-130 platform, opening access to a fleet of more than 1,000 aircraft and representing a meaningful new avenue of growth for our GEO franchise within the military and government vertical. I now want to spend some time on our important military and government end market, in which we see significant expansion and growth for Gogo. Military and government service revenue increased by 7% sequentially compared to the Q4 of 2025, marked the second consecutive quarter of growth. Geopolitical uncertainty and focus on sovereign communication requirements are creating a sustained need for secure, reliable connectivity. Our network military and government offerings have proven to be well-positioned to meet that demand in an unpenetrated market. As a result, we are seeing a distinct rise in communication spending that extends well beyond the U.S. and NATO as global governments actively invest to modernize their secure and airborne networks. During the quarter, we secured several contracts, the first being with the National Oceanic and Atmospheric Administration, or NOAA, totaling more than $8 million over a five-year period. This represents a meaningful addition to our long-term backlog and a strong endorsement of our network neutral platform's reliability for mission-critical applications. We also secured business with a U.S. civil government customer worth over $3 million for Galileo and 5G on their small to mid-size airframes. We expanded further into the growing global UAV market with customer wins for both GEO and LEO services for border protection and surveillance, with major drone manufacturers anticipated to deliver over $15 million in revenue over the contractual periods. Another major milestone in the quarter also demonstrated the importance of avoiding vendor lock to OEMs, as we adapted the HDX so it can be fitted under an existing STC and the escape hatch for a major airframe OEM for European deployment. Building on the growth we've delivered over consecutive quarters within our military and government end market, we're seeing high demand for our existing services driven by ongoing conflict in the Middle East, where the operational environment is also accelerating the cadence of adoption for next generation communication systems across our global military customer base. The U.S. government can access our technologies quickly because of our blanket purchase agreements, which serves the U.S. Department of War. Outside the U.S., our partnerships with leading aerospace integrators and OEMs continue to deliver with strong demand for Galileo from international government customers. Taken together, this momentum has meaningfully strengthened our competitive position in the military and government end market for the long term. An important point to mention is that the following sunsetting of our legacy EVDO network, Gogo will operate the only fully U.S.-based data sovereign ATG network. Our data originates in the U.S., lands in the U.S., and is entirely protected within the U.S., which makes our offering more appealing than our competitors. This transition away from EVDO, which is expected to open up new opportunities since the EVDO hardware utilized foreign components that locked us out of certain opportunities due to national security requirements. Before I turn the call over to Zach Cotner, I want to highlight a few financial themes that his remarks will detail. The first is that our product portfolio shift is expected to ultimately increase the durability and resilience of our revenue as customers make the significant capital commitment to install these next-generation products on their aircraft, as well as diversify our revenue across multiple connectivity solutions and mission profiles. Secondly, the expansion of our military and government business, which is based on longer contracts compared to shorter-term business aviation contracts, should add to this revenue as heightened military and government activity continues. Lastly, our top capital allocation priority in the near term is to aggressively pay down debt. I will now turn the call over to Zach to walk through the Q1 numbers. Thanks, Chris Moore. Good morning, everyone. Our Q1 performance met our expectations as we built upon our strong finish to 2025. The quarter was driven by Gogo C1 and 5G demand, positive Galileo momentum, along with sustained growth in our military and government service revenue. This performance helped balance anticipated service revenue softness as we navigate ATG aircraft deactivations. Gogo's total revenue for the quarter was $226.3 million, down just 2% compared to both Q1 2025 and Q4 2025. Service revenue was $187.7 million, down 5% year-over-year and 2% sequentially. Total equipment revenue showed continued strength at $38.6 million, an increase of 22% compared to Q1 2025 and flat sequentially. Sustained activity with record C1 shipments and increasing adoption of our 5G-ready AVANCE L5 platform for total ATG equipment sold of 511, up 8% compared to Q4 2025. We sold 184 AVANCE units, a 5% increase compared to Q4, and 327 C1 units, an increase of 10% sequentially, bringing our cumulative C1 units sold to 1,063. Gogo's C1 solution is a simple box swap designed to allow connectivity for classic ATG customers on Gogo's new LTE network, which is expected to come online later in 2026. Galileo equipment shipments totaled 92 for the quarter, bringing our cumulative Galileo shipments to 410. Turning to our aircraft online, total ATG AOL of 6,116 decreased 11% compared to the prior year quarter and 4% sequentially for the reasons Chris outlined in his comments. Advanced AOL now comprises 79% of our total ATG aircraft online and average monthly service revenue per ATG aircraft online or ARPA was $3,351, a 3% decrease compared to Q1 2025 and flat sequentially. Broadband GEO AOL increased 2% year- over- year to 1,306, but decreased 15 units from Q4 2025, largely due to aircraft sales in the quarter. Moving to our bottom line, net income for the quarter was $13.1 million, a significant increase on a sequential basis. In Q1, net income benefited from three non-cash items. First, a $4.9 million pre-tax reduction to the Satcom Direct earn-out accrual. Second, the non-recurrence of a $10 million litigation accrual that occurred in Q4. Third, a $4 million pre-tax charge to reflect the change in the fair value of a convertible note that also occurred in the prior quarter. Adjusted EBITDA was $53.3 million in the quarter, a 14% decrease year-over-year, but a 41% increase on a sequential basis. Q1 2026 Adjusted EBITDA includes $6.1 million of litigation expenses versus $8.4 million in Q4. The sequential increase in Adjusted EBITDA of $15.5 million was primarily driven by improvement in equipment profit resulting from a favorable product mix and lower inventory reserves, as well as a reduction in ED&D expenses. Year-over-year, the 14% adjusted EBITDA decrease of $8.7 million was largely driven by a drop in service profits stemming from declining ATG revenues. However, we partially mitigated this impact through disciplined OpEx management and strong execution on the synergy front, with annualized synergies reaching $40 million, exceeding our prior targets. In addition, ED&D expenses benefited from the reimbursement of costs related to the FCC reimbursement program. Turning to our strategic initiatives, in Q1, our 5G program incurred $0.2 million in operating expenses and $1.4 million in CapEx. In addition, our Galileo projects then included $0.8 million in OpEx. Regarding our efforts to reduce our debt and improve our leverage profile, which as Chris Moore mentioned, remains our top capital allocation priority, we made a $21.1 million principal payment on the HPS term loan facility in April. This payment was executed as an excess cash flow or ECF sweep. Turning to our net debt leverage ratio, we ended the first quarter at 3.6 x. Based on our 2026 forecast, we anticipate this leverage ratio will increase slightly in Q2 and Q3 before dipping back within our target range by the Q4. Moving to free cash flow on the balance sheet, net cash used in operating activities was $7.2 million, and free cash flow was negative $19.2 million for the quarter, down from $30 million in Q1 2025 and down from - $4.9 million in Q4. Our cash story this quarter was heavily influenced by a $14 million cash outflow related to our annual bonus payout, as well as a reduction in accounts payable associated with our inventory ramp related to the Gogo Galileo product launches. We ended the quarter with $103.5 million in cash and cash equivalents. In our earnings release this morning, we reiterated our 2026 financial guidance. We project total revenue in the range of $905 million-$945 million. We expect adjusted EBITDA in the range of $198 million-$218 million, which includes $3 million in strategic investments and $8 million of ongoing litigation expense. Finally, we anticipate free cash flow in the range of $90 million-$110 million. This implies a 12% year-over-year growth rate at the midpoint, driven by the winding down of new product investment, sustained cost synergies, and an expected strong ramp of new product revenue. Our guidance includes $30 million slated for strategic investments, net of any FCC reimbursements, and net capital expenditures of $20 million, assuming $45 million in FCC reimbursement. To summarize, our Q1 results reflect continued strong execution, record ATG shipments, and a 41% sequential increase in adjusted EBITDA. We are managing through near-term pressures in legacy service revenue while investing behind the two initiatives that we believe will define our next phase of growth, our 5G network and Galileo broadband. We also repaid $21.1 million on our HPS loan in April, further strengthening our balance sheet. Together, these actions should expand our addressable market and position us to deliver long-term value to shareholders. I want to express my continued gratitude to the Gogo team for their hard work in driving our transformation and their commitment to outstanding customer service. Operator, this concludes our prepared remarks. Please open the queue for questions Thank you. At this time, we will conduct a question and answer session. Our first question comes from Scott Searle with Roth Capital Partners. Scott, please go ahead with your question. Hey, good morning. Thanks for taking the questions. Nice to see you guys reiterating the outlook for 2026. Hey, Chris Moore, maybe start from a high level. It seems like there are a lot of shipments going out the door as it relates to Galileo and 5G, yet ARPA has been slow to come online. I'm wondering if you could talk us through the comfort that you have in terms of that ramping up into the H2 of this year in terms of dealer channel support, you know, STCs, which seem like they're very much on track, and just maybe help us understand the competitive landscape out there, particularly as it relates to Starlink. It's gonna take time. We've got the building blocks in place. We have the real estate. Our equipment revenue is up 22% year-on-year. We've got record ATG unit sales. Galileo, ARPA grew 50% sequentially, and adjusted EBITDA grew 41%. If you look at the current shipments on Galileo, most of that's with MROs at the moment. Really, as we've stated in previous calls, the OEMs come online really in Q3, Q4, and you see that ramp going from there. Actually, we're really excited about what we're seeing with Galileo, and it's going to plan at the moment. Regarding competition, we're not really seeing any changes. I think the good news is this is probably the fastest product we've ever launched, and the customer confidence is kind of showing with our results. Chris, I'm sorry, my phone blocked out for the 5G commentary. I'm wondering if you could just reiterate that quickly. I mean, if you look on equipment revenue is up 22%, and then we've got year-on-year record ATG unit sales as well, which we said on the call. If you look at 5G from a standing start, the pipeline is over 500, and it's a really solid start. We're seeing already partners like Textron already completing all their STCs. We've got good product shipments, good reliability. We're very confident about 5G. It's actually a really good start to the product. Quick, two follow-ups, maybe just in terms of the classic conversion, what you're ultimately hoping that looks like by the end of this year. I know you got an extension there, but what do you think the attrition is versus retention and conversion over? Lastly, just as it relates to the traditional SatCom business, I'm wondering, you know, given the growth that you're seeing in the military opportunities, you know, what's the long-term growth opportunity when you look at the traditional SatCom business? How much do you expect military to comprise of that as we start to look out 2 years to 3 years? Thanks. Yeah, that's a lot. All right. Let me start with kind of air to ground. If you look at, we've got record 254 C-1 conversions this quarter and 1,058 overall, and our AVANCE base grew 3% year-over-year. I think, you know, the tendency is just to focus on the quarter on suspensions, deactivations on the classic customers. They're not all deactivations. Some of those are suspensions, so we expect some to come back. We, in the previous call, said that we expect to lose, like, 1,000 customers over the year. I think that's kind of holding. I think the big thing there, though, is the transition that we're showing with the new products is all of our customers have somewhere to go with a broadband experience, which they didn't have previously, which is pretty exciting. You know, we continue to believe the ATG portfolio kind of will be a very, very important part of our business moving forward. Going on to the mil gov business, I think, you know, just what we're seeing with the wins that we discussed today is kind of a very robust business unit that's growing, which is really exciting. The value of the commercial-based products that we're putting into that, lower cost, support, global capability, robust cybersecurity, and then the drone market, we see that as a really exciting area for the business to grow into. Service revenue up 14% year-on-year, 7% from the last quarter. We're really excited about that revenue segment for us. Great. Thanks so much. I'll get back in the queue. Thank you. Our next question comes from Justin Lang with Morgan Stanley. Justin, go ahead with your question. Hi, this is Gabrielle Knafelman on for Justin Lang. Thanks for taking the question. You had mentioned that NetJets Europe will fully roll out Galileo in the first half of the year. I'm curious if you could give us a sense of expectations for the overall Galileo domestic international split through the end of the year. That's a good question. Let me just clarify a little bit on NetJets. I think there's a lot of misunderstanding around our NetJets relationship, and I wanna clarify this is, you know, really going very well. If you look at the confidence in the broader fleet relationships along with NetJets, we're completing rolling out NetJets Europe. We're starting to roll out NetJets North America. We're also starting to see, you know, real big traction with VistaJet aiming for 270+ aircraft, Wheels Up in their transformation with new aircraft, Luxaviation, Avcon Jet, AirX. The confidence in the fleet operators, I think, speaks volumes for the business. That 60/40 split is, you know, 60% North America, 40% overseas, is really exciting for the business, 'cause previous to the Satcom Direct acquisition, Gogo was predominantly just a U.S. supplier. We're seeing that kind of international expansion, confidence in the fleet operators, and NetJets is, you know, still in the fold with Gogo, and we're excited about rolling out with them. Got it. Thank you so much. Super helpful. I'm just curious if you could comment on how GEO AOL figures this quarter compared against your expectations and whether or not you're thinking any differently at all about some of the pressures you had flagged around GEO coming into the year. Effectively, GEO held up exactly as we thought it would. You know, the 15 units is sort of what we thought. I think the other kind of positive sign is, you know, as we telegraphed in Q4, the minor drop was largely related to aircraft sales. I can tell you that's the same trend in Q1. You know, our sales guys are beating down the door to try to, you know, find the new owners and win those back. I think GEO continues to be robust. The ARPA guide is down a little bit, but again, that's what we thought. I think we've got a pretty good handle on GEO for as of now. Great. Thank you so much. I'll get back in the queue. This concludes today's earnings call. Thank you for your participation in the conference. You may now disconnect.