Sabre Corporation · NASDAQ:SABR
Sabre — Q2 2026 Earnings Presentation
22 slides from Sabre's earnings presentation, Aug 6, 2026
Slide 1: Q2 2026 Earnings Report
Q2 2026 August 6, 2026 Earnings Report ®
Slide 2: Forward-looking statements
Forward-looking statements Forward-looking Statements Certain statements herein are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements about trends, future events, uncertainti
Slide 3: Today’s presenters
Today’s presenters Kurt Ekert Mike Randolfi President and Chief Executive Officer Chief Financial Officer 3 Confidential | ©2026 Sabre GLBL Inc. All rights reserved.
Slide 4: Strong Q2’26 growth
Strong Q2’26 growth Normalized Adjusted Air Distribution Revenue EBITDA Bookings +$25M (+4%) +$24M +0.5M (+19%) (+1%) Normalized Adjusted EBITDA is a non-GAAP measure. See slide 2 and appendix for a discussion of non-GAAP financial measures, including reconciliations to the most closely correlated G
Slide 5: Delivering on our strategic priorities
Delivering on our strategic priorities Generate Free Cash Flow and Delever Drive Growth through the Balance Sheet Innovation RECENT ACHIEVEMENTS RECENT ACHIEVEMENTS Exceeded outlook for Normalized Adjusted EBITDA; fourth Extending our leadership position in the emerging consecutive quarter of double
Slide 6: Q2’26 business and financial results
Q2’26 business and financial results $712M $151M Revenue Normalized Adjusted EBITDA +4% YoY +19% YoY 92M 76M Total Marketplace Bookings Air Distribution Bookings +1% YoY +1% YoY 12M $6B+ 174M Hotel Distribution Bookings Payments Gross Spend Passengers Boarded +8% YoY +32% YoY +2% YoY ~35% hotel atta
Slide 7: Driving growth through innovation
Driving growth through innovation Vision: Guiding the world into the Next Age of Travel Intelligent Modern Strategic Focus Retailing & Open Marketplace Technology Commerce Cloud-Native Airline Air Lodging Payment Technology Expansion Expansion Suite Secure & Reliable Leading Portfolio Modernized Int
Slide 8: Mike Randolfi
Mike Randolfi Chief Financial Officer Confidential | ©2026 Sabre GLBL Inc. All rights reserved.
Slide 9: Q2’26 financial highlights
Q2’26 financial highlights $712M Revenue 57% Gross Margin $151M Normalized Adj. EBITDA +4% YoY +19% YoY 21.2% Normalized Adj. EBITDA $10M Free Cash Flow $697M Cash on Balance Sheet Margin +272 bps YoY Normalized Adjusted EBITDA, Normalized Adjusted EBITDA margin, and Free Cash Flow are non-GAAP meas
Slide 10: Q2’26 actual results versus guidance
Q2’26 actual results versus guidance Q2’26 Q2’26 Guidance Actual Air Distribution Bookings Near flat YoY growth 1% YoY $712M Revenue Flat-to-nominal YoY growth +4% YoY $151M Pro Forma Adj. EBITDA ~$130M +19% YoY Pro Forma Adjusted EBITDA is a non-GAAP measures. See slide 2 and the appendix for a dis
Slide 11: Debt maturity profile
Debt maturity profile June 30, 2026 – Debt Maturity Profile $4.4B in Gross Debt 1 $ in millions $1,325 4 $1,150 $917 $470 $373 $2003 2 $50 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2026 2027 2028 2029 2030 1Reflects the paydown of the $50M 2026 Exchangeable Notes stub. 2The 2026 Ex
Slide 12: FY 2026 pro forma guidance
FY 2026 pro forma guidance 1 FY’26 Previous Guidance Low-to-mid-single-digit YoY Low-to-mid-single-digit YoY Air Distribution Bookings growth growth Low-to-mid-single-digit YoY Low-to-mid-single-digit YoY Revenue growth growth Pro Forma Gross Margin 56% - 57% 56% - 57% Positive momentum in 2026, exp
Slide 13: Q3’26 & Q4’26 pro forma guidance
Q3’26 & Q4’26 pro forma guidance 1 Q3’26 Q4’26 Air Distribution Flat-to-low-single-digit Low-to-mid-single-digit Bookings YoY growth YoY growth Flat-to-low-single-digit Low-to-mid-single-digit Revenue YoY growth YoY growth Pro Forma Adj. EBITDA ~$155M ~$125M Pro Forma Adjusted EBITDA is a non-GAAP m
Slide 14: Thank you
Slide 15: Appendix
Appendix Confidential | ©2026 Sabre GLBL Inc. All rights reserved.
Slide 16: Non-GAAP financial measures
Non-GAAP financial measures We have included both financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as well as certain supplemental non-GAAP financial measures, including Adjusted Net Loss from continuing operations (“Adjusted Net Loss”), Adjusted
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures Purpose and Use by Management Management and the board of directors use these non-GAAP financial measures to evaluate trends in our operating performance, assess period-to-period comparability, and support internal planning and decision-making. These measures are particul
Slide 18: Non-GAAP pro forma outlook
Non-GAAP pro forma outlook The non-GAAP pro forma financial outlook in this presentation, including Pro Forma Adjusted EBITDA, Pro Forma Gross Margin, Pro Forma Adjusted Technology expense, and Pro Forma Adjusted SG&A expense, is not necessarily indicative of the operating results of the Company aft
Slide 19: Business and financial pro forma financial outlook
Business and financial pro forma financial outlook The Company is providing the third quarter, fourth quarter, and full year 2026 outlook included below on a pro forma basis to give effect to the sale of the Hospitality Solutions business. Pro forma adjustments include an adjustment to remove costs
Slide 20: Tabular reconciliations for non-GAAP measures
Tabular reconciliations for non-GAAP measures Reconciliation of Loss from continuing operations to Adjusted Net Loss from continuing operations and Loss from continuing operations to Adjusted EBITDA: (in thousands, except per share amounts; unaudited) Three Months Ended June 30, Six Months Ended Jun
Slide 21: Tabular reconciliations for non-GAAP measures
Tabular reconciliations for non-GAAP measures Reconciliation of Free Cash Flow and Free Cash Flow from Discontinued Operations (in thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Cash provided by (used in) operating activities $ 36,149 $ (217,880) $ (98,011) (281
Slide 22: Non-GAAP footnotes
Non-GAAP footnotes (1) Depreciation and amortization expenses: a. Acquisition-related amortization represents amortization of intangible assets from the take-private transaction in 2007 as well as intangibles associated with acquisitions since that date. b. Depreciation and amortization of property