Sabre(US:SABR)2025-11-05 12:40Financial Performance - Q3 2025 revenue totaled $715 million, up 3% from $691 million in Q3 2024[4] - Adjusted EBITDA for Q3 2025 was $141 million, a 25% increase from $112 million in Q3 2024[2] - Net income attributable to common stockholders was $849 million, compared to a loss of $63 million in Q3 2024[8] - Operating income for Q3 2025 was $94 million, up 62% from $58 million in Q3 2024[5] - Revenue for Q3 2025 was $715,183,000, a 3.0% increase from $691,300,000 in Q3 2024[28] - Operating income for Q3 2025 was $93,625,000, compared to $57,841,000 in Q3 2024, reflecting a significant improvement[28] - Net income for Q3 2025 was $848,478,000, a substantial increase from a net loss of $63,133,000 in Q3 2024[28] - Adjusted EBITDA for Q3 2025 increased to $140,633, up from $112,275 in Q3 2024, reflecting a margin of 19.7%[44] - Free Cash Flow for Q3 2025 was $13,417, compared to $5,102 in Q3 2024, indicating a positive cash generation trend[45] - Cash provided by operating activities for Q3 2025 was $33,686, an increase from $24,393 in Q3 2024[45] - The company reported a net income margin of 118.7% for Q3 2025, compared to a negative margin of (9.1)% in Q3 2024[44] Cash and Debt Management - Cash balance at the end of Q3 2025 was $683 million[2] - The company repaid approximately $825 million of debt during the quarter[2] - Cash and cash equivalents as of September 30, 2025, were $661,722,000, down from $724,479,000 at the end of 2024[30] - Total cash, cash equivalents, and restricted cash at the end of the period was $682,747, down from $689,801 at the beginning of the period[32] - The company made payments on borrowings from lenders totaling $2,048,415, while proceeds from borrowings were $1,325,000[32] - The company incurred $111,312 in interest expense for Q3 2025, slightly down from $113,126 in Q3 2024[44] Operational Highlights - Distribution revenue increased by $24 million, or 4%, to $575 million, driven by a $16 million increase in transaction-based revenue[7] - Total bookings reached 95 million, a 3% increase from Q3 2024 levels[7] - The company completed the sale of its Hospitality Solutions business, impacting financial results and operations[23] - The company anticipates continued growth in the travel industry, with a focus on enhancing technology solutions and operational efficiency[24] Forward-Looking Statements - Fourth quarter Pro Forma Adjusted EBITDA guidance is approximately $110 million, with expected low single-digit revenue growth[15] - Full-year Pro Forma Free Cash Flow guidance is expected to be approximately $70 million[14] - Forward-looking statements indicate potential risks including dependency on global travel transaction volumes and competition in the travel distribution industry[25] Adjusted Financial Metrics - Adjusted Net Loss is defined as net income attributable to common stockholders adjusted for various costs, including discontinued operations and stock-based compensation[34] - Adjusted EBITDA is calculated by adjusting income from continuing operations for depreciation, amortization, and other specified costs[35] - The company emphasizes the importance of non-GAAP financial measures for monitoring core operations and evaluating financial performance[40] - Pro Forma Free Cash Flow is adjusted to reflect the impact of the Hospitality Solutions Sale and related refinancing activities[39] - Adjusted Net Loss from continuing operations for Q3 2025 was $(4,880), an improvement from $(18,868) in Q3 2024[44] - Normalized Adjusted EBITDA for the nine months ended September 30, 2025, was $416,864, compared to $377,034 for the same period in 2024[44] Discontinued Operations - The company experienced a loss from discontinued operations amounting to $783,725 in 2025, compared to a gain of $4,484 in 2024[32] - Free Cash Flow from Discontinued Operations for Q3 2025 was $(1,179), compared to $2,449 in Q3 2024, indicating challenges in this segment[46] - Cash provided by investing activities was $1,054,898 for discontinued operations, contrasting with cash used of $3,211 in the previous year[32] - Cash used in investing activities for Q3 2025 was $(20,269), a decrease from $35,543 in Q3 2024[45]