Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 199

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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 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 three months ended March 31, 2025, we did not repurchase any shares pursuant to the Share Repurchase Program. As of March 31, 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.” 

Cash Flows

 Three Months Ended March 31, 20252024(Amounts in thousands)Cash used in operating activities$(80,603)$(68,090)Cash used in investing activities(8,250)(27,676)Cash provided by financing activities13,208 77,908 Effect of exchange rate changes on cash, cash equivalents and restricted cash2,295 (1,212)Decrease in cash, cash equivalents and restricted cash$(73,350)$(19,070)

Operating Activities

Cash used in operating activities totaled $81 million for the three months ended March 31, 2025. The $13 million decrease in operating cash flow from the same period in the prior year was primarily due to a decrease in revenue from a decline in volume and impacts of customer de-migrations and a contribution of $10 million to our defined benefit pension plan,  partially offset by a $3 million decrease in interest payments in connection with our debt.

Investing Activities

For the three months ended March 31, 2025, we used $18 million of cash for capital expenditures primarily related to software developed for internal use, partially offset by the proceeds received from the sale of assets of $10 million.

For the three months ended March 31, 2024, we used $28 million of cash for capital expenditures primarily related to software developed for internal use and acquired software licenses associated with our internal billing systems.

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Financing Activities

For the three months ended March 31, 2025, financing activities provided $13 million. Significant highlights of our financing activities include:

•net proceeds of $19 million on borrowings on our AR Facility;