Sabre Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Sabre Corp. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its financial performance and business operations.</b>

AI Summary

Sabre Corp (SABR) filed a Annual Report (10-K) with the SEC on February 15, 2024. Sabre Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 3150 Sabre Drive, Southlake, TX 76092. Sabre Corp. is incorporated in Delaware. The SIC code for Sabre Corp. is 7370, indicating services in computer programming and data processing.

Why It Matters

For investors and stakeholders tracking Sabre Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Sabre Corp.'s financial health, operational performance, and strategic direction for the 2023 fiscal year, crucial for investors and stakeholders to assess the company's current standing and future prospects. The detailed financial data and risk factors disclosed in this report are essential for understanding the company's market position, competitive landscape, and potential challenges within the travel technology industry.

Risk Assessment

Risk Level: medium — Sabre Corp shows moderate risk based on this filing. The company operates in the travel technology sector, which is subject to rapid technological changes, evolving customer preferences, and intense competition, posing significant market and operational risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Sabre Corp.'s performance and outlook in the dynamic travel technology market.

Key Numbers

• 2023-12-31 — Fiscal Year End (The end date of the reporting period)
• 2024-02-15 — Filing Date (Date the 10-K was filed)
• 0001597033-24-000020 — Accession Number (Unique identifier for the filing)
• 001-36422 — SEC File Number (SEC's file number for Sabre Corp.)

Key Players & Entities

• Sabre Corp. (company) — Filer of the 10-K report
• Southlake, TX (location) — Location of the company's business and mailing address
• 7370 (industry_code) — Standard Industrial Classification code for the company
• DE (jurisdiction) — State of incorporation

FAQ

Industry Context

Sabre Corp. operates in the travel technology industry, providing software and services to airlines, hotels, and travel agencies.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information about their business and financial condition.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Review the risk factors section for potential threats to the company's business model.
3. Assess management's discussion and analysis for insights into strategic priorities and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-15: Filing Date — The date Sabre Corp. officially submitted its 10-K report to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparison with prior filings will require access to those documents.

Key Financial Figures

• $0.01 — ection 12(b) of the Act: Common Stock, $0.01 par value SABR The NASDAQ Stock Market

Filing Documents

• sabr-20231231.htm (10-K) — 3164KB
• exhibit46descriptionofsabr.htm (EX-4.6) — 25KB
• exhibit10138amendmentnumbe.htm (EX-10.138) — 21KB
• exhibit10139amendmentnumbe.htm (EX-10.139) — 22KB
• exhibit211sabrecorporation.htm (EX-21.1) — 88KB
• a202310ksabreyconsent.htm (EX-23.1) — 6KB
• a2023sabrex311_ceo302cert.htm (EX-31.1) — 12KB
• a2023sabrex312_cfo302cert.htm (EX-31.2) — 12KB
• a2023sabrex321_ceo906cert.htm (EX-32.1) — 8KB
• a2023sabrex322_cfo906cert.htm (EX-32.2) — 8KB
• sabrecorpclawbackpolicy072.htm (EX-97.1) — 40KB
• sabr-20231231_g1.jpg (GRAPHIC) — 123KB
• 0001597033-24-000020.txt (&nbsp;) — 17127KB
• sabr-20231231.xsd (EX-101.SCH) — 97KB
• sabr-20231231_cal.xml (EX-101.CAL) — 167KB
• sabr-20231231_def.xml (EX-101.DEF) — 600KB
• sabr-20231231_lab.xml (EX-101.LAB) — 1402KB
• sabr-20231231_pre.xml (EX-101.PRE) — 980KB
• sabr-20231231_htm.xml (XML) — 2606KB

Risk Factors

Item 1A. Risk Factors 5

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 19

Cybersecurity

Item 1C. Cybersecurity 19

Properties

Item 2. Properties 20

Legal Proceedings

Item 3. Legal Proceedings 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 21 Information About Our Executive Officers 22 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24

[Reserved]

Item 6. [Reserved] 24

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 49

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 52

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 97

Controls and Procedures

Item 9A. Controls and Procedures 97

Other Information

Item 9B. Other Information 98

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 98 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 99

Executive Compensation

Item 11. Executive Compensation 99

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 99

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 100

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 100 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 101

Form 10-K Summary

Item 16. Form 10-K Summary 111

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, including the section "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7, contains information that may constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, the development and introduction of new products, and the implementation of our strategies. In many cases, you can identify forward-looking statements by terms such as "expects," "intends," "focus," "believes," "will," "outlook," "may," "predicts," "vision," "potential," "anticipates," "estimates," "should," "plans," "could," "likely," "commit," "guidance," "incremental," "preliminary," "forecast," "continue," "strategy," "confidence," "momentum," "estimate," "objective," "project," or the negative of these terms or other comparable terminology. The forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions and are subject to risks, uncertainties and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance or achievements. You are cautioned not to place undue reliance on these forward-looking statements. Unless required by law, we undertake no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date they are made. A number of important factors c

BUSINESS

ITEM 1. BUSINESS Overview Sabre Corporation is a Delaware corporation formed in December 2006. On March 30, 2007, Sabre Corporation acquired Sabre Holdings Corporation ("Sabre Holdings"). Sabre Holdings is the sole direct subsidiary of Sabre Corporation. Sabre GLBL Inc. ("Sabre GLBL") is the principal operating subsidiary and sole direct subsidiary of Sabre Holdings. Sabre GLBL or its direct or indirect subsidiaries conduct all of our businesses. Our principal executive offices are located at 3150 Sabre Drive, Southlake, Texas 76092. At Sabre, we make travel happen. Our vision is to be one of the most valued global technology partners in travel. We are committed to helping our customers take on the biggest opportunities and solve the most complex challenges in our industry. We connect the world's leading travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines and tour operators, with travel buyers in a comprehensive travel marketplace. We also offer travel suppliers an extensive suite of leading software solutions, ranging from airline and hotel reservations systems to solutions that manage day-to-day hotel operations. We are committed to helping customers operate more efficiently, drive revenue and offer personalized traveler experiences with next-generation technology solutions. Business Segments and Products We operate our business and present our results through two business segments: (i) Travel Solutions, our global travel solutions for travel suppliers and travel buyers, including a broad portfolio of software technology products and solutions for airlines, and (ii) Hospitality Solutions, an extensive suite of leading software solutions for hoteliers. Financial information about our business segments and geographic areas is provided in Note 19. Segment Information, to our consolidated financial statements in Part II, Item 8 in this Annual Report on Form 10-K. Travel Solutions Our Travel Solutions business provides

RISK FACTORS

ITEM 1A. RISK FACTORS The following risk factors may be important to understanding any statement in this Annual Report on Form 10-K or elsewhere. Our business, financial condition and operating results can be affected by a number of factors, whether currently known or unknown, including but not limited to those described below. Any one or more of these factors could directly or indirectly cause our actual results of operations and financial condition to vary materially from past or anticipated future results of operations and financial con

View Full Filing

View this 10-K filing on SEC EDGAR