Company: SABR
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049383
Chunk: 45

Company: Sabre Corp
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 unconditional rights to bill, and receipt of contract consideration may result in contract assets or contract liabilities.The following table presents our assets and liabilities with customers as of September 30, 2025 and December 31, 2024 (in thousands). AccountConsolidated Balance Sheet LocationSeptember 30, 2025December 31, 2024Contract assets and customer advances and discounts(1)Prepaid expenses and other current assets / other assets, net$18,247 $28,112 Trade and unbilled receivables, netAccounts receivable, net377,222 282,173 Long-term trade unbilled receivables, netOther assets, net19,278 20,531 Contract liabilitiesDeferred revenues / other noncurrent liabilities96,855 107,867 ______________________(1) Includes contract assets of $4 million and $8 million for September 30, 2025 and December 31, 2024, respectively.During the nine months ended September 30, 2025, we recognized revenue of approximately $21 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 September 30,Nine Months Ended September 30,2025202420252024Distribution$575,308 $550,996 $1,690,189 $1,673,848 IT Solutions139,875 140,304 414,269 426,135 Total Sabre Revenue$715,183 $691,300 $2,104,458 $2,099,983 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 nine months ended September 30, 2025, the impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period is immaterial.

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Our air booking cancellation reserve totaled $14 million and $11 million as of September 30, 2025