Sabre Corporation · NASDAQ:SABR
Sabre — Q2 2025 Earnings Presentation
23 slides from Sabre's earnings presentation, Aug 7, 2025
Slide 1: Q2 2025 Earnings Report
Q2 2025 Earnings Report 7 August 2025 ©2025 Sabre GLBL Inc. All rights reserved. 1
Slide 2: Forward-looking statements
Forward-looking statements Forward-looking Statements Certain statements herein are forward-looking statements about trends, future events, uncertainties and our plans and expectations of what may happen in the future. Any statements that are not historical or current facts are forward-looking state
Slide 3: Today's presenters
Today's presenters Kurt Ekert Mike Randolfi President & CEO EVP & CFO
Slide 4: Delivering on our strategic priorities
Delivering on our strategic priorities Generate Free Cash Flow and Drive Growth Delever the Balance Sheet through Innovation RECENT ACHIEVEMENTS RECENT ACHIEVEMENTS ✓ YTD1 paid down over $1 billion of debt, to ~$4.3 billion, ✓ Implementing volumes from deals signed during 2024; ~$3.7 billion net deb
Slide 5: Business and financial results
Business and financial results Q2 2025 SUMMARY Total Distribution Bookings Air Distribution Bookings 90M 76M (1%) YoY (1%) YoY Passengers Boarded Hotel Distribution Bookings 171M 11M +1% YoY +2% YoY +100bps attachment rate growth Revenue Normalized Adjusted EBITDA $687M $127M (1%) YoY +6% YoY Normal
Slide 6: Driving growth through innovation
Driving growth through innovation OPEN MARKETPLACE INTELLIGENT RETAILING AND COMMERCE Multi-Source Distribution Hotel B2B Digital Platform Expansion Distribution Payments Airline IT Deliver the most robust air Expand customer-base Expand content to become Provide simplified and Become the industry l
Slide 7: Expected accelerating growth in 2H 2025, with momentum into 2026
Air distribution bookings outlook for remainder of 2025 OPEN MARKETPLACE EXPECTED 2H 2025 AIR DISTRIBUTION EXPECTED QUARTERLY RAMP OF AIR BOOKINGS GROWTH RATE DISTRIBUTION BOOKINGS GROWTH Growth Strategies GDS Industry Sabre Mix GDS Industry + Sabre Mix ~20% Positive YoY ~1/3 Growth ~1/3 +6% to +14%
Slide 8: Mike Randolfi, EVP & CFO
EVP & CFO Mike Randolfi
Slide 9: Q2 2025 financial highlights
Q2 2025 financial highlights Q2 financial results are presented to exclude the impact of discontinued operations, consistent with prior guidance methodology NORMALIZED ADJUSTED NORMALIZED ADJUSTED REVENUE EBITDA EBITDA MARGIN $687M $127M 19% (1%) YoY +6% YoY +1.2pts YoY PRO FORMA FREE CASH FLOW CASH
Slide 10: Q2 2025 actual results versus guidance
Q2 2025 actual results versus guidance Q2’25 Q2’25 Guidance Actual Low single digit $687M Revenue YoY growth (1%) YoY Normalized Adj. EBITDA ~$140M $127M Pro Forma Free Cash Flow Positive ($2M) Normalized Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See slide 2 and the appendix for a di
Slide 11: Focused on improving balance sheet and deleveraging
Focused on improving balance sheet and deleveraging DEBT MATURITY PROFILE DECEMBER 2023 DEBT MATURITY PROFILE $1,561 • Paid off over $1B in debt $1,248 $5.0B in Gross Debt using cash on the balance sheet and proceeds from the $853 $754 sale of Hospitality Solutions $372 $110 $63 • Extended nearly 60
Slide 12: FY 2025 pro forma guidance
FY 2025 pro forma guidance1 Prior FY’25 FY’25 Scenarios Double digit YoY growth: 0.5% YoY growth: 2% YoY growth: 3.5% Air Distribution Volumes YoY growth 2H25 growth: 4% 2H25 growth: 7% 2H25 growth: 10% High single digit Low single digit Low single digit Revenue Flat YoY growth YoY growth YoY growth
Slide 13: Q3 2025 pro forma guidance
Q3 2025 pro forma guidance1 Q3’25 Scenarios 2% 4% 6% Air Distribution Volumes YoY growth YoY growth YoY growth Low single digit Low single digit Mid single digit Revenue YoY growth YoY growth YoY growth Pro Forma Adj. EBITDA ~$140M ~$145M ~$150M +15% YoY +19% YoY +23% YoY Pro Forma Free Cash Flow ~$
Slide 14: Thank you
Thank you
Slide 15: Appendix
APPENDIX
Slide 16: Non-GAAP financial measures
Non-GAAP financial measures We have included both financial measures compiled in accordance with GAAP and certain non-GAAP financial measures, including Adjusted Net Loss from continuing operations ("Adjusted Net Loss"), Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized
Slide 17: Non-GAAP financial measures
Non-GAAP financial measures Adjusted Net Loss, Adjusted EBITDA, Normalized Adjusted EBITDA, Adjusted EBITDA Margin, Normalized Adjusted EBITDA Margin, Adjusted EPS, Free Cash Flow, and Pro Forma Free Cash Flow and ratios based on these financial measures are not recognized terms under GAAP. These no
Slide 18: Non-GAAP pro forma outlook
Non-GAAP pro forma outlook The non-GAAP pro forma financial outlook in this press release, including pro forma Adjusted EBITDA and pro forma Free Cash Flow, is not necessarily indicative of the operating results of the Company after closing of the Hospitality Solutions Sale and utilization of the ne
Slide 19: Tabular reconciliation for Normalized Non-GAAP measures
Tabular reconciliation for Normalized Non-GAAP measures The following table reconciles our previously reported consolidated adjusted results by income statement line item to normalized adjusted results from continuing operations by line item. Adjustments represent (1) the impact of classifying Hospi
Slide 20: Business and financial pro forma financial outlook
Business and financial pro forma financial outlook The Company is providing the quarterly and full year 2025 outlook included below on a pro forma basis to give effect to the sale of the Hospitality Solutions business, and we have removed the impact of the $227 million of payment-in-kind interest th
Slide 21: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures Reconciliation of net loss attributable to common stockholders to Adjusted Net Loss from continuing operations and loss from continuing operations to Adjusted EBITDA: (in thousands, except per share amounts; unaudited) ©2025 Sabre GLBL Inc. All rights re
Slide 22: Tabular reconciliations for Non-GAAP measures
Tabular reconciliations for Non-GAAP measures ©2025 Sabre GLBL Inc. All rights reserved. 22
Slide 23: Non-GAAP footnotes
Non-GAAP footnotes (1) Net income (loss) attributable to noncontrolling interests represents an adjustment to include earnings allocated to noncontrolling interests held in (i) Sabre Travel Network Middle East of 40%, (ii) Sabre Seyahat Dagitim Sistemleri A.S. of 40%, (iii) Sabre Travel Network Lank