secwatch.observer — SEC 8-K summary
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Issuer:     Global Business Travel Group, Inc. (GBTG)
CIK:        0001820872
Form:       8-K
Filed at:   2026-05-04T23:59:59+00:00
Accession:  0001140361-26-018689
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Amex GBT Q1 revenue up 35% to $840M; net income falls 28%, FCF turns negative
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- Revenue $840M (+35% YoY); Net income $54M (-28%) vs $75M a year ago.
- Adjusted EBITDA $150M (+6%); margin declined to 18% from 23%.
- Free cash flow -$52M vs +$26M in Q1 2025; Net Debt/EBITDA 2.0x.
- Gross profit margin 56% (down 410bps); Adjusted gross profit margin 58% (down 450bps).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820872/000114036126018689/0001140361-26-018689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820872/000114036126018689/ef20072337_form8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-018689

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer