Sabre (SABR) risk factors, FY2024 10-K

Risks Related to Our Business and Industry

1. 01Our revenue is highly dependent on transaction volumes in the global travel industry, particularly air travel transaction volumes
2. 02Our ability to recruit, train and retain employees, including our key executive officers and technical employees, is critical to our results of operations and future growth
3. 03We operate in highly competitive, evolving markets, and if we do not continue to innovate and evolve, our business operations and competitiveness may be harmed
4. 04Our Travel Solutions business is exposed to pricing pressure from travel suppliers
5. 05Our travel supplier customers may experience financial instability or consolidation, pursue cost reductions, change their distribution model or undergo other changes
6. 06Our collection, processing, storage, use and transmission of personal data could give rise to liabilities as a result of governmental regulation, conflicting legal requirements, differing views on data privacy, or security incidents
7. 07Implementation of software solutions often involves a significant commitment of resources, and any failure to deliver as promised on a significant implementation could adversely affect our business
8. 08Our Travel Solutions business depends on relationships with travel buyers
9. 09Our Travel Solutions and Hospitality Solutions businesses depend on maintaining and renewing contracts with their customers and other counterparties
10. 10We are exposed to risks associated with payment card industry data ("PCI") compliance
11. 11We are involved in various legal proceedings which may cause us to incur significant fees, costs and expenses and may result in unfavorable outcomes
12. 12Any failure to comply with regulations or any changes in such regulations governing our businesses could adversely affect us
13. 13We are exposed to risks associated with acquiring or divesting businesses or business operations
14. 14We rely on the value of our brands, which may be damaged by a number of factors, some of which are out of our control
15. 15We rely on third-party distributor partners and equity method investments to extend our GDS services to certain regions, which exposes us to risks associated with lack of direct management control and potential conflicts of interest

Risks Related to Technology and Intellectual Property

1. 16We rely on the availability and performance of information technology services provided by third parties, including network, cloud, mainframe and SaaS providers
2. 17Our success depends on maintaining the integrity of our systems and infrastructure, which may suffer from failures, capacity constraints, business interruptions and forces outside of our control
3. 18Security incidents expose us to liability and could damage our reputation and our business
4. 19Intellectual property infringement actions against us could be costly and time consuming to defend and may result in business harm if we are unsuccessful in our defense
5. 20We may not be able to protect our intellectual property effectively, which may allow competitors to duplicate our products and services
6. 21We use open source software in our solutions that may subject our software solutions to general release or require us to re-engineer our solutions

Risks Related to Economic, Political and Global Conditions

1. 22Our business could be harmed by adverse global and regional economic and political conditions
2. 23We operate a global business that exposes us to risks associated with international activities

Risks Related to Our Indebtedness, Financial Condition and Common Stock

1. 24We have a significant amount of indebtedness, which could adversely affect our cash flow and our ability to operate our business and to fulfill our obligations under our indebtedness
2. 25The terms of our debt covenants could limit our discretion in operating our business and any failure to comply with such covenants could result in the default of all of our debt
3. 26We may require more cash than we generate in our operating activities, and additional funding on reasonable terms or at all may not be available
4. 27We are exposed to interest rate fluctuations
5. 28The market price of our common stock could decline due to the large number of outstanding shares of our common stock eligible for future sale
6. 29We may recognize impairments on long-lived assets, including goodwill and other intangible assets, or recognize impairments on our equity method investments
7. 30Maintaining and improving our financial controls and the requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified board members
8. 31We may have higher than anticipated tax liabilities
9. 32Our pension plan obligations are currently unfunded, and we may have to make significant cash contributions to our plans, which could reduce the cash available for our business
10. 33We may not have sufficient insurance to cover our liability in pending litigation claims and future claims either due to coverage limits or as a result of insurance carriers seeking to deny coverage of such claims, which in either case could expose us to significant liabilities
11. 34Defects in our products may subject us to significant warranty liabilities or product liability claims and we may have insufficient product liability insurance to pay material uninsured claims