Press release
Lindblad Expeditions Holdings, Inc. Reports 2023 Second Quarter Financial Results
Second Quarter 2023 Highlights: Total revenues increased 37% to $124.8 millionNet loss available to stockholders improved $4.5 millionAdjusted EBITDA
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"Second Quarter 2023 Highlights:\nTotal revenues increased 37% to $124.8 millionNet loss available to stockholders improved $4.5 millionAdjusted EBITDA increased $12.4 million to $6.2 millionLindblad segment Available Guest Nights increased 34%Net Yield per Available Guest Night increased 5% to $1,034 and Occupancy was 74%Strong reservations for future travel with bookings for 2023 43% ahead of bookings for 2019 at the same point in 2019Further increased financial flexibility through issuance of $275.0 million new senior secured notesNEW YORK, July 27, 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 second quarter ended June 30, 2023.\n\n \n \n \n \n \n \n\n \nSven Lindblad, Chief Executive Officer, said \"Lindblad delivered another quarter of strong year on year growth as we continue to ramp operations and put the pandemic behind us. While we are proud of what we have achieved thus far, what really excites us is the opportunity ahead given the massive interest in experiential travel. With a proven track record of delivering high quality and authentic travel experiences over the last five decades, along with the strategic investments we have made over the last several years to expand our fleet, diversify our portfolio of land offerings, upgrade our technology footprint and enhance our overall infrastructure, we are uniquely positioned to significantly capitalize on that growing demand. There will certainly still be short-term challenges given what the industry is emerging from, but we are beginning to meaningfully tap into the expanded earnings power of the Company and look forward to building additional shareholder value in the months and years ahead.\"\nSECOND QUARTER RESULTS\nTour Revenues\nSecond quarter tour revenues of $124.8 million increased $33.9 million, or 37%, as compared to the same period in 2022. The increase was driven by a $23.4 million increase at the Lindblad segment and a $10.5 million increase at the Land Experiences segment.\nLindblad segment tour revenues of $87.4 million increased $23.4 million, or 36%, compared to the second quarter a year ago primarily due to a 34% increase in available guest nights as we continued to ramp operations....