Sabre 2025 Results: Revenue Climbs, Restructuring Resets Profit

Sabre has released its financial results for both the fourth quarter and the full year of 2025, showing moderate revenue growth alongside ongoing cost pressures related to restructuring and financing activities.

Fourth quarter 2025 financial results

• Total revenue reached $667 million, compared with $645 million in the same period of 2024. The increase was primarily driven by stronger performance in the company’s distribution segment, which continues to represent the core of Sabre’s business.
• Distribution revenue rose by $27 million, or 5 percent, to $527 million. This improvement included a $20 million increase in transaction-based revenue, largely resulting from higher booking volumes as well as a more favorable mix of travel suppliers and pricing conditions. An additional $7 million increase came from other revenue sources within the distribution segment.
• Total bookings, after accounting for cancellations, reached 83 million in the quarter, representing a 3 percent increase compared with the fourth quarter of 2024.
• Average booking fee improved to $6.31, up 2 percent from $6.17 a year earlier, indicating slightly stronger monetization per transaction.
• Operating income fell to $21 million, compared with $46 million in the same period of 2024. The decrease was largely attributed to restructuring costs connected to an inflation offset program that the company plans to implement in 2026, as well as increased incentive-related expenses.
• Net loss attributable to common stockholders widened to $103 million, compared with a loss of $75 million in the prior-year quarter. Several factors contributed to this deterioration, including the operating income decline, an $8 million reduction in income tax benefits, a $5 million loss related to debt refinancing activities, and higher interest expenses. These negative impacts were partially offset by an $8 million decrease in debt modification costs.

Full year 2025 financial results

• Total revenue reached $2.8 billion, compared with $2.7 billion in 2024, reflecting gradual growth across its business segments.
• Distribution revenue increased by $43 million, or 2 percent, to $2.2 billion. This growth was driven by a $29 million increase in other revenue and a $14 million rise in transaction-based revenue, supported by improved pricing conditions and higher volumes.
• Total bookings for the year, net of cancellations, reached 365 million, representing a 1 percent increase compared with 2024.
• Average booking fee rose to $6.07, a 1 percent improvement from $5.98 the previous year.
• Operating income for the full year improved to $295 million, compared with $242 million in 2024. The increase was supported by lower labor and professional services expenses, reduced technology costs, and decreased depreciation and amortization. However, these gains were partially offset by higher incentive expenses and the restructuring charge associated with the inflation offset program recorded in the fourth quarter of 2025.
• Loss from continuing operations totaled $255 million, improving from a loss of $272 million in 2024. The improvement reflected stronger operating income, $18 million in net transition services agreement income related to the Hospitality Solutions divestiture, lower debt modification costs, and a $5 million reduction in interest expense.

Building an integrated AI travel ecosystem

Sabre recently revealed a collaboration with PayPal and Mindtrip to develop an AI travel agent designed to allow travelers to search, book, pay, and manage trips without leaving a chat-based environment.

The initial rollout is expected to begin with flight bookings in the second quarter of 2026, with hotel capabilities planned to follow later. The system will connect Mindtrip’s conversational interface with SabreMosaic APIs and incorporate PayPal’s Buyer and Purchase Protection features for eligible transactions, offering travelers additional security if disruptions occur.

Photo by Markus Spiske on Unsplash