LIND

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Lindblad Expeditions Holdings Inc.

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Key Metrics

Previous Close: $31.82
52-Week Range: $11.37 – $35.00
Market Cap: $2.06B
P/E (TTM): —
EPS (TTM): -0.37
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: —
Return on Assets: 4.11%
Gross Margin: 46.65%
Operating Margin: 6.00%
Profit Margin: -2.08%
Current Ratio: 0.84
Debt/Equity: —
Total Debt: $672.50M
Free Cash Flow: $141.32M
Revenue Growth: 18.60%
Earnings Growth: —
Enterprise Value: $2.44B

LIND Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$421.50M	$569.54M	$644.73M	$771.02M
Cost of Revenue	$283.22M	$338.21M	$362.58M	$418.02M
Gross Profit	$138.28M	$231.33M	$282.15M	$353.00M
Selling, General & Admin	$157.29M	$174.02M	$208.03M	$244.69M
Operating Expenses	$201.33M	$220.73M	$260.59M	$307.51M
Operating Income	-$63.05M	$10.60M	$21.55M	$45.49M
EBITDA	-$19.94M	$54.80M	$74.14M	$88.02M
Pretax Income	-$102.08M	-$37.73M	-$25.09M	-$21.75M
Income Tax	$6.08M	$3.15M	$3.10M	$2.48M
Net Income	-$111.38M	-$45.61M	-$31.18M	-$29.72M
Diluted EPS	-2.23	-0.94	-0.67	-0.63
Diluted Shares	52.02M	53.26M	53.82M	54.97M

LIND Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$87.18M	$156.84M	$183.94M	$256.69M
Inventory	$11.93M	$5.44M	—	—
Current Assets	$183.32M	$244.50M	$278.43M	$367.88M
Total Assets	$787.98M	$831.30M	$876.90M	$979.96M
Current Liabilities	$341.12M	$319.22M	$392.45M	$461.59M
Long-Term Debt	$529.45M	$621.78M	$625.42M	$662.67M
Total Debt	$554.45M	$623.75M	$627.30M	$663.83M
Total Liabilities	$873.62M	$945.06M	$1.02B	$1.13B
Retained Earnings	-$266.53M	-$322.21M	-$362.88M	-$411.40M
Shareholders' Equity	-$113.53M	-$151.55M	-$174.96M	-$201.45M
Working Capital	-$157.80M	-$74.72M	-$114.02M	-$93.71M
Net Debt	$465.61M	$464.98M	$441.51M	$405.98M

LIND Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$2.20M	$25.44M	$92.36M	$111.58M
Capital Expenditure	-$38.20M	-$29.96M	-$33.52M	-$47.74M
Free Cash Flow	-$40.41M	-$4.52M	$58.84M	$63.84M
Depreciation & Amortisation	$44.65M	$47.51M	$53.49M	$64.53M
Stock-Based Compensation	$6.99M	$13.89M	$9.83M	$13.46M
Investing Cash Flow	-$49.59M	-$14.80M	-$44.08M	-$67.27M
Financing Cash Flow	-$4.87M	$60.68M	-$19.77M	$29.56M
Net Change in Cash	-$56.67M	$71.32M	$28.51M	$73.88M

LIND Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$179.72M	$167.94M	$240.17M	$183.18M	$208.01M
Cost of Revenue	$92.85M	$91.39M	$124.37M	$109.41M	$106.74M
Gross Profit	$86.87M	$76.55M	$115.80M	$73.77M	$101.27M
Selling, General & Admin	$60.96M	$57.47M	$64.90M	$61.36M	$67.98M
Operating Expenses	$76.26M	$72.15M	$79.83M	$79.28M	$85.66M
Operating Income	$10.61M	$4.41M	$35.97M	-$5.51M	$15.62M
EBITDA	$26.89M	$20.30M	$28.58M	$12.24M	$33.84M
Pretax Income	-$475.00K	-$6.42M	$2.01M	-$16.86M	$4.83M
Income Tax	-$1.49M	$547.00K	-$2.56M	$5.98M	-$1.23M
Net Income	$1.16M	-$8.52M	$1.19M	-$23.55M	$6.50M
Diluted EPS	0.00	-0.18	0.00	-0.45	0.09
Diluted Shares	54.62M	54.59M	55.56M	55.30M	61.11M

LIND Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$188.85M	$200.93M	$261.78M	$256.69M	$275.01M
Current Assets	$295.83M	$322.52M	$363.79M	$367.88M	$384.75M
Total Assets	$908.83M	$936.52M	$976.53M	$979.96M	$987.18M
Current Liabilities	$420.54M	$450.08M	$438.61M	$461.59M	$473.12M
Long-Term Debt	$626.35M	$627.27M	$663.44M	$662.67M	$663.22M
Total Debt	$627.87M	$628.40M	$664.27M	$663.83M	$664.70M
Total Liabilities	$1.13B	$1.16B	$1.19B	$1.13B	$1.14B
Retained Earnings	-$365.72M	-$381.82M	-$384.57M	-$411.40M	-$408.94M
Shareholders' Equity	-$252.22M	-$263.81M	-$256.59M	-$201.45M	-$190.13M
Working Capital	-$124.70M	-$127.56M	-$74.82M	-$93.71M	-$88.37M
Net Debt	$437.51M	$426.35M	$401.67M	$405.98M	$388.20M

LIND Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$48.40M	$29.21M	$19.53M	$14.44M	$49.47M
Capital Expenditure	-$13.41M	-$15.74M	-$7.62M	-$10.97M	-$6.89M
Free Cash Flow	$34.98M	$13.47M	$11.91M	$3.48M	$42.59M
Depreciation & Amortisation	$15.73M	$15.10M	$15.31M	$18.38M	$18.44M
Stock-Based Compensation	$3.73M	$5.39M	$5.37M	-$1.03M	$1.75M
Investing Cash Flow	-$29.00M	-$15.74M	-$9.40M	-$13.13M	-$6.89M
Financing Cash Flow	-$327.00K	-$1.07M	$32.67M	-$1.70M	-$11.24M
Net Change in Cash	$19.07M	$12.40M	$42.80M	-$389.00K	$31.34M

Market Snapshot

About

Lindblad Expeditions Holdings Inc. is an expedition cruise company offering voyages to remote destinations worldwide. The company operates a fleet of small expedition ships that travel to Antarctica, the Arctic, Galapagos Islands, and other wilderness areas. Lindblad partners with National Geographic on certain expeditions, combining adventure travel with educational experiences. The company focuses on environmentally responsible tourism and naturalist-led exploration programs.