---
schema_version: "secwatch.filing_event.v1"
accession: "0001820872-25-000016"
form_type: "8-K"
ticker: "GBTG"
cik: "0001820872"
company_name: "Global Business Travel Group, Inc."
filed_at: "2025-05-06T23:59:59+00:00"
generated_at: "2026-05-22T13:36:24.210870+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Amex GBT Q1 revenue $621M (+2% YoY), Adj EBITDA $141M (+15%); lowers FY guidance midpoint 6%

## Summary
- Q1 revenue $621M (+2% YoY; +4% constant currency workday-adjusted).
- Adjusted EBITDA $141M (+15% YoY); margin expanded 260bps YoY. FCF $26M (+9%).
- LTM Total New Wins $3.2B (incl. $2.3B SME); customer retention 96%.
- CWT acquisition amended: stock consideration reduced from ~72M to ~50M shares.
- Updated FY 2025 guidance: revenue $2.38-2.48B, Adj EBITDA $480-540M, FCF $120-160M.

## SEC filing metadata
- accession: 0001820872-25-000016
- form_type: 8-K
- ticker: GBTG
- cik: 0001820872
- company_name: Global Business Travel Group, Inc.
- filed_at: 2025-05-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820872/000182087225000016/0001820872-25-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820872/000182087225000016/gbtg-20250506.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001820872-25-000016
- JSON: https://secwatch.observer/filing/0001820872-25-000016.json
- Plain text: https://secwatch.observer/filing/0001820872-25-000016.txt

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