#United States #New York #financial results #Q3 2025 #Lindblad Expeditions

Lindblad Expeditions Holdings Reports Third Quarter Financial Results for 2025

On November 4, 2025, Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) announced its financial results for the third quarter ending September 30, 2025. The quarter showcased remarkable growth and resilience amid a competitive environment. Here’s a closer look at the highlights that shaped this successful quarter.

Key Financial Highlights of Q3 2025

• - Total Revenue: An impressive increase of 17% year-over-year, reaching $240.2 million.
• - Net Loss: Although the company recorded a net loss of $49,000, this was a slight downturn compared to the previous year’s profit of $21.3 million.
• - Adjusted EBITDA: This figure soared by 25% to $57.3 million, showcasing strong operational performance.
• - Lindblad Segment Performance: Notably, the net yield per available guest night rose by 9% to $1,314, reflecting higher pricing strategies and increased occupancy rates, which improved from 82% to 88%.

CEO Natalya Leahy attributed the impressive results to the dedicated team’s focus on strategic priorities and the exceptional experiences delivered to guests. She emphasized that this performance is not only about financial gains but also about achieving record satisfaction scores among guests.

Growth Across Segments

Lindblad’s revenue growth was supported by robust performances across both its marine and land segments. The Lindblad segment alone brought in $137.6 million, marking a 13% increase from the same period last year. The Land Experiences segment also reported a revenue growth of 21%, totaling $102.6 million, driven by an increase in operational trips and higher pricing strategies.

The combination of a wide-ranging adventure portfolio and a strong brand reputation has positioned Lindblad favorably in the expedition travel sector. Guests continue to seek unique travel experiences, and Lindblad is at the forefront of meeting these demands.

Financial Developments

This quarter also marked a significant refinancing of long-term debt, where Lindblad secured a lower interest rate of 7.00%, extending the maturity to 2030. This refinance simplified the company's capital structure and enhanced its financial flexibility, offering a foundation for future growth initiatives. The company reported cash and cash equivalents totaling $290.1 million as of September 30, up from $216.1 million at the end of 2024. This positive cash flow was mainly attributable to increased bookings, reflecting the growing confidence among consumers to travel once again.

Future Outlook

Looking ahead, Lindblad Expeditions holds optimistic projections for the remainder of 2025, anticipating tour revenues of between $745 and $760 million and adjusted EBITDA ranging from $119 to $123 million. These forward-looking estimates are grounded in the strong performance metrics and market demand trends.

Conclusion

Lindblad Expeditions Holdings continues to navigate the complexities of the global travel landscape with agility. By focusing on fulfilling guest expectations and maintaining operational excellence, the company appears well-prepared for sustainable growth. With its strong balance sheet and strategic initiatives, Lindblad is poised to capitalize on future opportunities in the expedition travel industry. As the company gears up for what lies ahead, stakeholders will be closely watching how it leverages its strengths in this competitive market.