Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with Customers

Contract Balances

Revenue recognition for a significant portion of our revenue coincides with normal billing terms, including our transactional revenues, Software-as-a-Service (“SaaS”) revenues, and hosted revenues. Timing differences among revenue recognition, unconditional rights to bill, and receipt of contract consideration may result in contract assets or contract liabilities.

The following table presents our assets and liabilities with customers as of March 31, 2026 and December 31, 2025 (in thousands).

Account	Consolidated Balance Sheet Location	March 31, 2026		December 31, 2025
Contract assets and customer advances and discounts(1)	Prepaid expenses and other current assets / other assets, net	$	15,883	$	16,692
Trade and unbilled receivables, net	Accounts receivable, net	364,210		308,825
Long-term trade unbilled receivables, net	Other assets, net	6,747		7,795
Contract liabilities	Deferred revenues / other noncurrent liabilities	90,060		96,753

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(1) Includes contract assets of $4 million for both March 31, 2026 and December 31, 2025.

During the three months ended March 31, 2026, we recognized revenue of approximately $13 million from contract liabilities that existed as of January 1, 2026. Our long-term trade unbilled receivables, net relate to fixed license fees billed over the contractual period and recognized when the customer gains control of the software. We evaluate collectability of our accounts receivable based on a combination of factors and record reserves as described further in Note 7. Credit Losses.

Revenue

The following table presents our disaggregated revenues (in thousands):

	Three Months Ended March 31,
	2026		2025
Marketplace	$	618,011	$	569,115
Airline Technology	142,315		133,011
Total Sabre Revenue	$	760,326	$	702,126

We may occasionally recognize revenue in the current period for performance obligations partially or fully satisfied in the previous periods resulting from changes in estimates for the transaction price, including any changes to our assessment of whether an estimate of variable consideration is constrained. For the three months ended March 31, 2026, the impact on revenue recognized in the current period from performance obligations partially or fully satisfied in the previous period is immaterial.

Our air booking cancellation reserve totaled $16 million and $13 million as of March 31, 2026, and December 31, 2025, respectively.

Unearned performance obligations primarily consist of deferred revenue for fixed implementation fees and future product implementations, which are included in deferred revenue and other noncurrent liabilities in our consolidated balance sheet. We have not disclosed the performance obligation related to contracts containing minimum transaction volume, as it represents a subset of our business, and therefore would not be meaningful in understanding the total future revenues expected to be earned from our long-term contracts.