Company: SABR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001597033-25-000090
Chunk: 44

Company: Sabre Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 2024Contract assets and customer advances and discounts(1)Prepaid expenses and other current assets / other assets, net$20,342 $28,112 Trade and unbilled receivables, netAccounts receivable, net325,224 282,173 Long-term trade unbilled receivables, netOther assets, net20,784 20,531 Contract liabilitiesDeferred revenues / other noncurrent liabilities99,607 107,867 ______________________(1) Includes contract assets of $5 million and $8 million for June 30, 2025 and December 31, 2024, respectively.During the six months ended June 30, 2025, we recognized revenue of approximately $13 million from contract liabilities that existed as of January 1, 2025. Our long-term trade unbilled receivables, net relate to fixed license fees billed over the contractual period and recognized when the customer gains control of the software. We evaluate collectability of our accounts receivable based on a combination of factors and record reserves as described further in Note 6. Credit Losses. Revenue The following table presents our disaggregated revenues (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Distribution$545,766 $550,594 $1,114,881 $1,122,852 IT Solutions141,383 144,456 274,394 285,831 Total Sabre Revenue$687,149 $695,050 $1,389,275 $1,408,683 We may occasionally recognize revenue in the current period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to our assessment of whether an estimate of variable consideration is constrained. For the six months ended June 30, 2025, the impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period is immaterial.Our air booking cancellation reserve totaled $15 million and $11 million as of June 30, 2025, and December 31, 2024, respectively.

Unearned performance obligations primarily consist of deferred revenue for fixed implementation fees and future product implementations, which are included in deferred revenue and other noncurrent liabilities in our consolidated balance sheet. We have not disclosed the performance obligation related to contracts containing minimum transaction volume, as it represents a subset of our business