Press release
Lindblad Expeditions Holdings, Inc. Reports 2023 First Quarter Financial Results
First Quarter 2023 Highlights: Total revenue of $143.4 million increased $75.5 million versus 2022 and $53.7 compared with 2019Net loss available to
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"First Quarter 2023 Highlights:\nTotal revenue of $143.4 million increased $75.5 million versus 2022 and $53.7 compared with 2019Net loss available to stockholders of $0.4 million improved $42.6 million versus 2022Adjusted EBITDA of $27.2 million increased $48.4 million versus 2022 and $5.1 million compared with 2019Lindblad segment Net Yield per Available Guest Night of $1,205 increased 63% versus 2022 and 10% compared with 2019Occupancy of 81% compared with 66% in 2022Strong reservations for future travel with bookings for 2023 45% ahead of bookings for 2019 at the same point in 2019Following the quarter, further increased financial flexibility through issuance of new senior secured notesNEW YORK, May 3, 2023 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the \"Company\" or \"Lindblad\"), a global provider of expedition cruises and adventure travel experiences, today reported financial results for the first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \nDolf Berle, Chief Executive Officer, said \"Lindblad is off to a great start in 2023 as the momentum we have generated since emerging from the pandemic continued in earnest during the first quarter. The strategic investments we have made to expand capacity and diversify our product portfolio are delivering strong results as new and returning guests are eager to explore the world's most amazing destinations. We are also just beginning to tap into the expanded earnings potential of the Company. Demand for expedition travel continues to grow and as we further ramp occupancies, continue to broaden and deepen our offering of high-quality authentic experiences and maintain premium pricing levels, we are uniquely positioned to significantly ramp earnings and build long-term shareholder value in the years ahead.\"\nFIRST QUARTER RESULTS\nTour Revenues\nFirst quarter tour revenues of $143.4 million increased $75.5 million, or 111%, as compared to the same period in 2022. The increase was driven by a $65.2 million increase at the Lindblad segment and a $10.3 million increase at the Land Experiences segment.\nLindblad segment tour revenue of $115.5 million increased $65.2 million, or 130%, compared to the first quarter a year ago primarily due to a 71% increase in available guest nights as we continued to ramp operations. The year-on-year growth was also driven...