Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 249

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 249
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%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 new customer deployments and a favorable mix within our customer base.

Cost of revenue, excluding technology costs

 Three Months Ended March 31,   20252024Change (Amounts in thousands)  Travel Solutions$301,572 $288,850 $12,722 4 %Hospitality Solutions37,539 36,559 980 3 %Eliminations(10,718)(9,566)(1,152)12 %Total segment cost of revenue, excluding technology costs328,393 315,843 12,550 4 %Corporate650 47 603 1,283 %Depreciation and amortization4,667 5,204 (537)(10)%Total cost of revenue, excluding technology costs$333,710 $321,094 $12,616 4 %

Travel Solutions—Cost of revenue, excluding technology costs, increased $13 million, or 4%, for the three months ended March 31, 2025 compared to the same period in the prior year driven by a $13 million increase in incentive consideration primarily due to an increase in rates and transaction mix. 

Hospitality Solutions—Cost of revenue, excluding technology costs, increased $1 million