#United States #New York #Lindblad Expeditions #EBITDA Growth #Q1 2026

Lindblad Expeditions Holdings, Inc. Reports First Quarter 2026 Financial Highlights

On May 5, 2026, Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND), a leading provider in expedition cruises and adventure travel, announced its remarkable financial results for the first quarter ending March 31, 2026. The company reported a total revenue of $208 million, marking a 16% increase compared to the same period last year.

Record Growth in Revenues and Occupancy

Natalya Leahy, the CEO of Lindblad, expressed her delight with the results, noting the company achieved an unprecedented 93% occupancy rate, the highest in its history. This surge in occupancy contributed to the overall success, reflecting the strength of Lindblad’s strategic approach to navigating the complex macro and geopolitical environment of today’s world.

The financial report highlighted key figures from the first quarter:

• - Total Revenue: $208 million (up $28.3 million year-on-year)
• - Net Income Available to Stockholders: $6 million ($0.09 per share)
• - Adjusted EBITDA: $34.8 million (up 16%)

The Lindblad segment's revenue rose to $152.5 million, also a 16% increase driven by a 7% improvement in net yield per available guest night, which reached $1,631—a reflection of higher pricing and increasing demand.

In conjunction, the Land Experiences segment reported earnings of $55.5 million, representing a 14% year-on-year increase, attributed to higher pricing and enhanced itinerary offerings.

Positive Net Income and Robust EBITDA

For the first quarter, Lindblad’s net income available to shareholders was $6 million, up from a net loss of $0.0 million the previous year. The report indicates that this profitability was mainly due to elevated operational results along with reduced interest expenses compared to the prior year. The Adjusted EBITDA of $34.8 million showed a significant uplift of $4.8 million from the past year.

The breakdown further illustrates the performance:

• - Lindblad Segment Adjusted EBITDA: $27.9 million (up $1.6 million)
• - Land Experiences Segment Adjusted EBITDA: $6.9 million (up $3.2 million)

Financial Stability and Future Outlook

As of the end of March 2026, Lindblad reported cash and cash equivalents at $321.1 million, an increase from $289.7 million at the end of 2025. This growth can be largely attributed to a robust cash flow from operations worth $49.5 million, primarily driven by increased bookings for future travel. The company's total debt stood at $675 million, and they remain in compliance with all applicable debt covenants.

Looking ahead, Lindblad Expeditions anticipates full-year 2026 tour revenues between $800 - $850 million and an Adjusted EBITDA ranging from $130 - $140 million, showcasing optimism despite a fluctuating global landscape.

Stock Repurchase Program

In a strategic move, Lindblad has also initiated a $35 million stock repurchase program. By April 30, 2026, the company had repurchased 875,218 shares, funded with $23 million, leaving a balance of $12 million for future repurchases.

Conclusion

Lindblad Expeditions remains committed to its mission of delivering unparalleled travel experiences while fostering a deep appreciation for nature and cultures worldwide. With a growing portfolio of expedition offerings and a solid financial foundation, the company is poised for continued success throughout 2026 and beyond. For more information on Lindblad Expeditions and to keep up with their initiatives, visitors can check their investor relations site at investors.expeditions.com.