SOUTHLAKE, Texas - Sabre Corporation ('Sabre' or the 'Company') (NASDAQ:

SABR) today announced financial results for the quarter ended March 31, 2024.

Business highlights:

Reported strong financial performance that exceeded prior Q1 guidance; raising full-year 2024 revenue and Adjusted EBITDA outlook

Generated $98 million of operating income and a 13 percentage point operating margin improvement; Q1 revenue increased 5% year-over-year while operating costs declined 8% over the same period

Hyatt implementation to the SynXis platform on schedule with first bookings expected in Q2

Expanded and renewed partnerships with large customer partners including

LATAM, Southwest Airlines, Alaska Airlines, Hawaiian, and Emirates

Refinanced over $300 million of 2025 debt maturities and increased liquidity by ~$70

million; plan to repay remaining 2025 maturities using balance sheet cash

Ended the quarter with cash balance of $650 millionFirst quarter 2024 financial results:

First quarter revenue totaled $783 million, up 5% from Q1'23

Net loss attributable to common stockholders of $71 million and diluted net loss per share attributable to common stockholders of $0.19

Adjusted EBITDA(1) of $142 million

'Sabre delivered strong first quarter results that exceeded expectations. Solid revenue growth, efficiency improvements, and further progress on our technology transformation drove significant margin expansion this quarter. Sabre is becoming the preferred provider of intelligent retailing and next-generation distribution technology solutions - with both new and existing customers,' said Kurt Ekert, President and CEO of Sabre.

With regards to Sabre's first quarter 2024 cash flows (versus prior year):

Cash used in operating activities totaled $68 million (vs. $72 million)

Cash used in investing activities totaled $28 million (vs. $18 million)

Cash provided by financing activities totaled $78 million (vs. $112 million)

Capitalized expenditures totaled $28 million (vs. $18 million)

Free Cash Flow(1) was negative $96 million, versus Free Cash Flow of negative $91 million in the

first quarter of 2023.

Financial Highlights

https://investors.sabre.com/static-files/6a9abdcf-f36e-4382-aad8-612a8a06aff4

(C) 2024 Electronic News Publishing, source ENP Newswire