Sabre Corporation
investors.sabre.comWhat Do They Do?
Connects travel suppliers with travel agencies and corporate travel departments through a business-to-business marketplace, and sells reservation and operations software to airlines.
10-K for FY2025, filed Feb 18, 2026
How Do They Make Money?
Sabre earns fees when bookings are made through its marketplace, generally paid by travel suppliers and sometimes by travel agencies; airline reservation fees are tied to booking, while car and hotel fees arise when the reservation is used. IT software brings upfront implementation fees plus recurring usage-based and subscription fees under contracts.
10-K for FY2025, filed Feb 18, 2026Transactions—Our business generates distribution revenue for bookings made through our global distribution system ("GDS") (e.g., air, car…View ↗
SaaS and Hosted—We generate IT Solutions revenue through upfront solution implementation fees and recurring usage-based fees for the use of…View ↗
We generate distribution revenue for bookings made through our GDS (e.g., Air, and Lodging, Ground and Sea ("LGS")). GDS services link and…View ↗
We generate IT Solutions revenue from our product offerings including reservation systems for full-service and low-cost carriers…View ↗
$2.8B
-
10-K for FY2025, filed Feb 18, 2026
$2.8B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Distribution
Usage-based
10-K for FY2025, filed Feb 18, 2026 |
80% |
Distribution, FY2025
$2.2B Sources
|
Usage-based |
|
IT Solutions
Mix
10-K for FY2025, filed Feb 18, 2026 |
20% |
IT Solutions, FY2025
$554M Sources
|
Mix |
|
License fee
Licensed
|
0.2% |
License fee, FY2025
$5M Sources
|
Licensed |
Who Are Their Customers?
Airlines and other travel suppliers use Sabre’s hosted software; travel agencies and corporate travel departments book suppliers’ products through its marketplace.
10-K for FY2025, filed Feb 18, 2026We manage and report our business in one reportable segment following the disposition of our Hospitality Solutions business during 2025.…View ↗
Additionally, we offer a broad portfolio of software technology products and solutions, through software-as-a-service (“SaaS”) and hosted…View ↗
Our customers consist of travel suppliers, including airlines, hotels and other lodging providers, car rental brands, rail carriers, cruise…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 19 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 18, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
−$36.2MView ↗
- ▼ −86% (Loss)
- vs −$256.5M in Q2 FY2025
-
Aug 6, 2026
Raised adjusted EBITDA and free cash flow guidance
Revenue and air distribution bookings guidance was reaffirmed.
Sources
8-K, filed Aug 6, 2026
Exceeds second quarter guidance; raises full year 2026 Pro Forma Adjusted EBITDA and Free Cash Flow guidanceView ↗
Growing. Revenue grew 64% in 4 years, from $1.7B in FY2021 to $2.8B in FY2025, about 13% a year.
Hotel software business sold
The older report describes Hospitality Solutions as a separate business providing hotel software for pricing, reservations and guest experience. The latest report says that business was sold and describes a travel marketplace with software for airlines and other travel suppliers.
10-K for FY2022, filed Feb 17, 2023 10-K for FY2025, filed Feb 18, 2026We manage and report our business in one reportable segment following the disposition of our Hospitality Solutions business during 2025.…View ↗
Additionally, we offer a broad portfolio of software technology products and solutions, through software-as-a-service (“SaaS”) and hosted…View ↗
Sale of Hospitality Solutions BusinessView ↗
Added airline retailing platform
The older report lists airline reservation and commercial systems; the latest also describes SabreMosaic, an offer-and-order retailing platform that lets airlines tailor what they sell to travelers.
10-K for FY2022, filed Feb 17, 2023 10-K for FY2025, filed Feb 18, 2026Additionally, our Travel Solutions business offers a broad portfolio of software technology products and solutions, through…View ↗
Additionally, we offer a broad portfolio of software technology products and solutions, through software-as-a-service (“SaaS”) and hosted…View ↗
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