Lindblad Expeditions Holdings (LIND) Financial Statements & Analysis

Lindblad Expeditions Holdings (LIND) Income Statement

Lindblad Expeditions Holdings reported revenue of $771.02M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 19.6% from $644.73M a year earlier. Lindblad Expeditions Holdings posted a net loss of $34.65M, compared with a net loss of $31.18M a year earlier. Gross margin was 45.8% and operating margin 5.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $199.25M, up 18.6% from the same quarter a year earlier.

Lindblad Expeditions Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Lindblad Expeditions Holdings, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	771.02	644.73	569.54	421.50	147.11	82.36	343.09	309.73	266.50
Cost of Revenue	418.02	362.58	338.21	283.22	124.48	72.93	166.61	153.74	135.53
Gross Profit	353.00	282.15	231.33	138.28	22.62	9.43	176.48	155.99	130.98
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	237.95	208.03	174.02	157.29	93.93	65.74	117.52	109.89	102.88
Operating Expenses	307.51	260.59	220.73	201.33	133.45	97.82	143.29	130.65	120.23
Operating Income	45.49	21.55	10.60	-63.05	-110.83	-88.40	33.20	25.34	10.74
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	45.23	45.74	-45.01	37.50	24.58	16.69	12.29	10.83	9.74
Other Income/Expense	-67.24	-0.91	-48.33	-39.04	14.22	-21.55	-12.26	-13.17	-8.27
Income
Income Before Tax	-21.75	-25.09	-37.73	-102.08	-121.19	-109.95	20.94	12.17	2.47
Income Tax Expense	2.48	3.10	3.15	6.08	-2.02	-9.81	2.19	0.62	10.00
Net Income	-34.65	-31.18	-49.98	-111.38	-119.21	-98.74	16.35	11.35	-8.66
Net Income - Continuous Operations	-29.72	-28.20	-45.61	-111.38	-119.17	-98.74	16.35	11.35	-8.66
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	115.05	74.14	57.31	-19.94	-57.08	-61.17	59.25	43.77	29.56
EBIT	52.23	20.65	10.60	-64.59	-96.61	-88.40	-	-	-
Depreciation & Amortization	62.82	52.56	46.71	44.65	39.53	32.08	26.03	20.77	17.35
Earnings Per Share
Basic EPS	-1.00	-1.00	-1.00	-2.00	-2.00	-2.00	-	-	-
Diluted EPS	-1.00	-1.00	-1.00	-2.00	-2.00	-2.00	-	-	-
Basic Shares Outstanding	54.97	53.82	53.26	52.02	50.11	49.74	47.44	45.38	44.58
Diluted Shares Outstanding	54.97	53.82	53.26	52.02	50.11	49.74	49.43	46.34	44.58

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Lindblad Expeditions Holdings Financial Statements

What was Lindblad Expeditions Holdings's revenue in fiscal 2025?

Lindblad Expeditions Holdings reported revenue of $771.02M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 19.6% from $644.73M a year earlier.

Is Lindblad Expeditions Holdings profitable?

No. Lindblad Expeditions Holdings reported a net loss of $34.65M in fiscal 2025. In fiscal 2024 it lost $31.18M.

What is Lindblad Expeditions Holdings's operating margin?

Lindblad Expeditions Holdings's operating income was $45.49M on revenue of $771.02M in fiscal 2025, an operating margin of 5.9%, compared with 3.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition