Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 185

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 185
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,886 Cost of revenue, excluding technology costs333,710 321,094 Technology costs196,227 222,291 Selling, general and administrative143,282 141,416 Operating income103,398 98,085 Interest expense, net(129,353)(124,747)Loss on extinguishment of debt— (37,994)Equity method income665 960 Other, net3,776 (4,477)Loss from continuing operations before income taxes(21,514)(68,173)(Benefit) provision for income taxes(57,062)2,932 Loss from continuing operations$35,548 $(71,105)

29

Three Months Ended March 31, 2025 and 2024 

Revenue

 Three Months Ended March 31,   20252024Change (Amounts in thousands)  Travel Solutions$702,126 $713,633 $(11,507)(2)%Hospitality Solutions85,209 78,819 6,390 8 %Total segment revenue787,335 792,452 (5,117)(1)%Eliminations(10,718)(9,566)(1,152)12 %Total revenue$776,617 $782,886 $(6,269)(1)%

Travel Solutions—Revenue decreased $12 million, or 2%, for the three months ended March 31, 2025 compared to the same period in the prior year, primarily due to:

•a $3 million, or 1% decrease in transaction-based distribution revenue primarily due to a 2% decrease in direct billable bookings to 96 million, partially offset by favorable rate impacts; and

•an $8 million, or 6% decrease in IT solutions revenue driven by the impact of de-migrations from carriers who de-migrated prior to 2024. We expect revenue growth for IT solutions beginning in the third quarter of 2025 following the anniversary of the impact of these de-migrations on our revenue.

Hospitality Solutions—Revenue increased $6 million, or 8%, for the three months ended March 31, 2025 compared to the same period in the prior year. The increase was primarily driven by a $5 million increase in SynXis Software and Services revenue due to an increase in transaction volumes of 6% to 31 million driven by growth in our existing customer base as well as