--- title: "Global Business Travel | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 870 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294818323.md" datetime: "2026-08-04T11:48:07.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294818323.md) - [en](https://longbridge.com/en/news/294818323.md) - [zh-HK](https://longbridge.com/zh-HK/news/294818323.md) generator: "portal-rs" --- # Global Business Travel | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 870 M Revenue: As of FY2026 Q2, the actual value is USD 870 M, beating the estimate of USD 807.76 M. EPS: As of FY2026 Q2, the actual value is USD 0.03. EBIT: As of FY2026 Q2, the actual value is USD 48 M. #### Net Income Global Business Travel Group, Inc. reported net income of $17 million for Q2 2026, an increase of 14% from $15 million in Q2 2025. The net income margin remained flat at 2% in Q2 2026, decreasing by -40 basis points year-over-year. Net income attributable to the Company’s Class A common stockholders was $15 million in Q2 2026, up from $13 million in Q2 2025. Net income attributable to non-controlling interests in subsidiaries remained at $2 million for both periods. Income before income taxes was $15 million in Q2 2026, compared to $34 million in Q2 2025. The provision for income taxes was - $2 million in Q2 2026, a decrease from - $21 million in Q2 2025. Share of income from equity method investments increased to $4 million in Q2 2026 from $2 million in Q2 2025. #### Gross Profit Gross Profit increased by 33% to $494 million in Q2 2026, up from $371 million in Q2 2025. The Gross Profit Margin was 57% in Q2 2026, a decrease of -200 basis points from 59% in Q2 2025. Adjusted Gross Profit was $514 million in Q2 2026, a 32% increase from $389 million in Q2 2025. Adjusted Gross Profit Margin was 59% in Q2 2026, down -250 basis points from 62% in Q2 2025. #### Operating Expenses and Profit Total operating expenses were $846 million in Q2 2026, a 42% increase from $597 million in Q2 2025. Operating income decreased to $24 million in Q2 2026 from $34 million in Q2 2025. Adjusted Operating Expenses were $696 million in Q2 2026, up from $500 million in Q2 2025. Cost of revenue (excluding depreciation and amortization) was $356 million in Q2 2026, compared to $242 million in Q2 2025. Sales and marketing expenses increased to $123 million from $111 million. Technology and content expenses rose to $160 million from $120 million. General and administrative expenses increased to $110 million from $69 million. Restructuring and other exit charges were $41 million, up from $12 million. Depreciation and amortization increased to $56 million from $43 million. #### EBITDA Adjusted EBITDA for Q2 2026 was $178 million, representing a 34% increase from $133 million in Q2 2025. Adjusted EBITDA Margin was 21% in Q2 2026, a decrease of -60 basis points from 21% in Q2 2025. LTM Adjusted EBITDA for the period ended June 30, 2026, was $586 million. #### Cash Flow Net cash from operating activities increased by 153% to $142 million in Q2 2026, compared to $57 million in Q2 2025. Free Cash Flow significantly increased by 281% to $103 million in Q2 2026, from $27 million in Q2 2025. For the six months ended June 30, 2026, net cash from operating activities was $127 million, and net cash used in investing activities was - $66 million. Net cash from financing activities was $20 million for the six months ended June 30, 2026. Cash, cash equivalents and restricted cash at the end of Q2 2026 were $552 million, an increase from $479 million at the beginning of the period. Purchases of property and equipment amounted to - $39 million in Q2 2026. Cash paid for interest (net of interest received) was $48 million for the six months ended June 30, 2026. #### Debt and Liquidity Net Debt was $994 million as of June 30, 2026, compared to $984 million as of December 31, 2025. The Net Debt / LTM Adjusted EBITDA ratio was 1.7x as of June 30, 2026, compared to 1.6x as of June 30, 2025. Total debt, net of unamortized debt discount and debt issuance costs, was $1,512 million as of June 30, 2026. Cash and cash equivalents were $518 million as of June 30, 2026. #### Operational Metrics Total Transaction Value (TTV) growth was 57%, and Transaction Growth was 45% in Q2 2026. LTM Total New Wins Value accelerated to $3.5 billion, including major new wins with Google, Koch, and Pfizer. Global Business Travel Group, Inc. maintained a strong customer retention rate of 95%, including CWT. LTM SME New Wins Value reached $2.3 billion, an increase of 11% year-over-year. Travel Revenue increased 38% due to acquisition impacts, growth in business travel demand, and share gains, while Product and Professional Services Revenue also increased by 38%. Excluding the impact of acquisitions, revenue growth was 10%. #### Outlook Shareholder approval for the proposed acquisition of Global Business Travel Group, Inc. by Long Lake Management was obtained on August 3, 2026. The Merger is anticipated to close in the second half of 2026, contingent upon the satisfaction of customary conditions, including regulatory approvals. ### Related Stocks - [GBTG.US](https://longbridge.com/en/quote/GBTG.US.md) ## Related News & Research - [Global Business Travel Chief Legal Officer Eric J. Bock sells 64,780 shares worth $612,819.80](https://longbridge.com/en/news/297021368.md) - [Global Business Travel Chief Legal Officer Eric J. 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