Press release
Lindblad Expeditions Holdings, Inc. Reports 2025 Third Quarter Financial Results
Third Quarter 2025 Highlights: Total revenue increased 17% to $240.2 million Net loss available to stockholders was $49 thousand Adjusted EBITDA increased
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"\n Third Quarter 2025 Highlights:\n \n \n Total revenue increased 17% to $240.2 million\n Net loss available to stockholders was $49 thousand\n Adjusted EBITDA increased 25% to $57.3 million\n Lindblad segment net yield per available guest night increased 9% to $1,314\n Occupancy increased to 88% from 82%\n The Company refinanced its long-term debt, lowering its interest rate to 7.00% and extending maturity to 2030\n \n \n NEW YORK, Nov. 4, 2025 /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 third quarter ended September 30, 2025.\n \n \n \n \n \n \n \n Natalya Leahy, Chief Executive Officer, said, \"Our latest quarter is a testament to our great team and disciplined focus on strategic priorities and unforgettable guest experiences. Both our land and marine segments grew strongly with overall corporate revenue up 17% and a new record level of adjusted EBITDA while achieving highest ever measured guest satisfaction scores. Finally, the excellent work done to strengthen our balance sheet positions us for durable and profitable growth well into 2030.\"\n \n THIRD\n QUARTER RESULTS\n \n \n Tour Revenues\n \n Third quarter tour revenues of $240.2 million increased $34.2 million, or 17%, as compared to the same period in 2024. The increase was driven by a $16.3 million increase at the Lindblad segment and a $17.9 million increase at the Land Experiences segment.\n Lindblad segment tour revenues of $137.6 million increased $16.3 million, or 13%, compared to the third quarter a year ago primarily due to a 9% increase in net yield per available guest night to $1,314 driven by higher pricing and an increase in occupancy to 88% from 82% in the third quarter a year ago.\n Land Experiences tour revenues of $102.6 million increased $17.9 million, or 21%, compared to the third quarter a year ago primarily due to operating additional trips and higher pricing.\n \n Net Income\n \n Net loss available to stockholders for the third quarter was $49 thousand, $0.00 per diluted share, as compared with net income available to stockholders of $21.3 million, $0.36 per diluted share, in the third quarter of 2024. The $21.4 million decrease primarily reflects $23.5 million in debt refinanc...