Company: SABR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001597033-25-000090
Chunk: 98

Company: Sabre Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 98
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 a multi-year share repurchase program (the “Share Repurchase Program”) to purchase up to $500 million of Sabre's common stock outstanding. Repurchases under the Share Repurchase Program may take place in the open market or privately negotiated transactions. On March 16, 2020, we announced the suspension of share repurchases under the Share Repurchase Program in conjunction with the cash management measures we undertook as a result of the market conditions caused by COVID-19. During the six months ended June 30, 2025, we did not repurchase any shares pursuant to the Share Repurchase Program. As of June 30, 2025, the Share Repurchase Program remains suspended and approximately $287 million remains authorized for repurchases. In addition, the terms of certain of the agreements governing our indebtedness contain covenants that, among other things, limit our ability to repurchase our common stock. See “Risk Factors—The terms of our debt covenants could limit our discretion in operating our business and any failure to comply with such covenants could result in the default of all of our debt.” 

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Cash Flows

 Six Months Ended June 30, 20252024(Amounts in thousands)Cash used in operating activities$(281,841)$(29,856)Cash used in investing activities(30,083)(45,850)Cash provided by financing activities34,500 54,124 Cash used in discontinued operations(24,404)(12,347)Effect of exchange rate changes on cash, cash equivalents and restricted cash3,453 (1,663)Decrease in cash, cash equivalents and restricted cash$(298,375)$(35,592)

Operating Activities

Cash used in operating activities totaled $282 million for the six months ended June 30, 2025. The $252 million decrease in operating cash flow from the same period in the prior year was primarily due to payments of previously paid-in-kind interest and currently accrued interest of $227 million in connection with refinancing our Senior Secured Term Loan Due 2028, a $9 million increase in interest payments in connection with our other debt, a decrease in revenue from a decline in volume and impacts of customer de-migrations and a contribution of $12 million to our defined benefit pension plan.

Investing Activities

For the six months ended June 30, 2025, we used $39 million of cash for capital expenditures primarily related to software developed for internal use