v3.25.1
Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2025
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, 2025 and December 31, 2024 (in thousands).
AccountConsolidated Balance Sheet LocationMarch 31, 2025December 31, 2024
Contract assets and customer advances and discounts(1)
Prepaid expenses and other current assets / other assets, net$22,927 $28,635 
Trade and unbilled receivables, netAccounts receivable, net391,112 334,699 
Long-term trade unbilled receivables, netOther assets, net20,251 20,531 
Contract liabilitiesDeferred revenues / other noncurrent liabilities127,215 128,645 
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(1) Includes contract assets of $5 million and $8 million for March 31, 2025 and December 31, 2024, respectively.
During the three months ended March 31, 2025, we recognized revenue of approximately $8 million from contract liabilities that existed as of January 1, 2025. 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 5. Credit Losses.
Revenue
The following table presents our revenues disaggregated by business (in thousands):
Three Months Ended March 31,
20252024
Distribution$569,115 $572,258 
IT Solutions133,011 141,375 
Total Travel Solutions702,126 713,633 
SynXis Software and Services77,389 72,317 
Other7,820 6,502 
Total Hospitality Solutions85,209 78,819 
Total Segment Revenue787,335 792,452 
Eliminations(10,718)(9,566)
Total Sabre Revenue$776,617 $782,886 
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, 2025, 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 $15 million and $11 million as of March 31, 2025, and December 31, 2024, 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.