Company: SABR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049383
Chunk: 189

Company: Sabre Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 189
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 tax rate for the three months ended September 30, 2025 represents the rate expected for the year applied to year to date earnings before tax and the impact of certain discrete items in the quarter. The effective tax rate is primarily impacted by changes in the valuation allowance, tax permanent differences and tax credits. The difference between our effective tax rates and the U.S. federal statutory income tax rate primarily results from the impact of changes in the valuation allowance, our geographic mix of taxable income in various tax jurisdictions, tax permanent differences and tax credits.

Nine Months Ended September 30, 2025 and 2024

Revenue

 Nine Months Ended September 30,   20252024Change (Amounts in thousands)  Revenue $2,104,458 $2,099,983 $4,475 — %

Revenue increased $4 million for the nine months ended September 30, 2025 compared to the same period in the prior year, primarily due to:

•a $16 million, or 1%, increase in distribution revenue driven by a $22 million increase in product-based revenue, partially offset by a $6 million decrease in transaction-based revenue primarily due to a reduction in volume and unfavorable rate impacts; partially offset by

•a $12 million, or 3%, decrease in IT solutions revenue driven by a $15 million decrease due to the impact of de-migrations from carriers who de-migrated prior to 2024, partially offset by a $2 million increase in volume growth and a $1 million increase in license fee revenue.

Cost of revenue, excluding technology costs

 Nine Months Ended September 30,   20252024Change (Amounts in thousands)  Cost of revenue, excluding technology costs$914,899 $880,706 $34,193 4 %

Cost of revenue, excluding technology costs, increased $34 million, or 4%, for the nine months ended September 30, 2025 compared to the same period in the prior year, primarily due to a $35 million increase in incentive consideration due to an increase in rates and transaction mix.

Technology Costs

 Nine Months Ended September 30, 20252024Change (Amounts in thousands)  Technology costs$515,810 $590,051 $(74,241)(13)%

Technology costs decreased $74 million, or 13%, for the nine months ended September 30, 2025