---
schema_version: "secwatch.filing_event.v1"
accession: "0001820872-23-000006"
form_type: "8-K"
ticker: "GBTG"
cik: "0001820872"
company_name: "Global Business Travel Group, Inc."
filed_at: "2023-11-07T23:59:59+00:00"
generated_at: "2026-06-08T17:01:23.592000+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# GBTG Q3 revenue up 17% YoY; Adjusted EBITDA +135%; positive year-to-date free cash flow

## Summary
- Revenue grew 17% and Adjusted EBITDA rose 135% versus Q3 2022.
- Cash from operations $135M; free cash flow $107M in Q3; year-to-date free cash flow positive.
- Leverage ratio lowered to 2.7x, triggering reduced interest rates from Q4 2023.
- LTM Total New Wins Value $3.3B; 95% retention; total transactions up 9% YoY.
- Reiterated full-year 2023 revenue and Adjusted EBITDA guidance; raised free cash flow outlook.

## SEC filing metadata
- accession: 0001820872-23-000006
- form_type: 8-K
- ticker: GBTG
- cik: 0001820872
- company_name: Global Business Travel Group, Inc.
- filed_at: 2023-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820872/000182087223000006/0001820872-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820872/000182087223000006/gbtg-20231107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820872-23-000006
- JSON: https://secwatch.observer/filing/0001820872-23-000006.json
- Plain text: https://secwatch.observer/filing/0001820872-23-000006.txt

## Key facts
- Earnings Releases
  Global Business Travel Group, Inc. updated its the quarter ended September 30, 2023 guidance (reaffirmed).
  - Period: the quarter ended September 30, 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: Global Business Travel Group, Inc. (the “Company”) issued a press release announcing the Company’s financial results for the quarter ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820872/000182087223000006/0001820872-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.