LINDBLAD EXPEDITIONS HOLDINGS, INC.LINDEarnings & Financial Report
Lindblad Expeditions is an expedition travel company headquartered in New York, NY. The company currently offers expedition cruises to destinations on all seven continents aboard 15 ships with capacities ranging from 28 to 150 guests.
LIND Q4 FY2025 Key Financial Metrics
Revenue
$183.2M
Gross Profit
$73.8M
Operating Profit
$-5.5M
Net Profit
$-23.6M
Gross Margin
40.3%
Operating Margin
-3.0%
Net Margin
-12.9%
YoY Growth
23.3%
EPS
$-0.45
LINDBLAD EXPEDITIONS HOLDINGS, INC. Q4 FY2025 Financial Summary
LINDBLAD EXPEDITIONS HOLDINGS, INC. reported revenue of $183.2M (up 23.3% YoY) for Q4 FY2025, with a net profit of $-23.6M (up 6.0% YoY) (-12.9% margin). Cost of goods sold was $109.4M, operating expenses totaled $79.3M.
Key Financial Metrics
| Total Revenue | $183.2M |
|---|---|
| Net Profit | $-23.6M |
| Gross Margin | 40.3% |
| Operating Margin | -3.0% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
LINDBLAD EXPEDITIONS HOLDINGS, INC. Q4 FY2025 revenue of $183.2M breaks down across 3 segments, led by Guest Ticket at $96.5M (52.7% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Guest Ticket | $96.5M | 52.7% |
| Landexperience | $67.3M | 36.7% |
| Other Tour | $19.4M | 10.6% |
LINDBLAD EXPEDITIONS HOLDINGS, INC. Revenue by Segment — Quarterly Trend
LINDBLAD EXPEDITIONS HOLDINGS, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Guest Ticket and Landexperience) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Guest Ticket | $96.5M | $121.0M | $98.2M | $112.6M |
| Landexperience | $67.3M | $102.6M | $56.9M | $48.6M |
| Other Tour | $19.4M | $16.6M | $12.9M | $18.5M |
LINDBLAD EXPEDITIONS HOLDINGS, INC. Annual Revenue by Year
LINDBLAD EXPEDITIONS HOLDINGS, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $771.0M).
LINDBLAD EXPEDITIONS HOLDINGS, INC. Quarterly Revenue & Net Profit History
LINDBLAD EXPEDITIONS HOLDINGS, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $183.2M | +23.3% | $-23.6M | -12.9% |
| Q3 FY2025 | $240.2M | +16.6% | $1.2M | 0.5% |
| Q2 FY2025 | $167.9M | +23.0% | $-8.5M | -5.1% |
| Q1 FY2025 | $179.7M | +17.0% | $1.2M | 0.6% |
| Q4 FY2024 | $148.6M | +18.5% | $-25.0M | -16.9% |
| Q3 FY2024 | $206.0M | +17.1% | $22.5M | 10.9% |
| Q2 FY2024 | $136.5M | +9.4% | $-24.7M | -18.1% |
| Q1 FY2024 | $153.6M | +7.1% | $-4.0M | -2.6% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $153.6M | $136.5M | $206.0M | $148.6M | $179.7M | $167.9M | $240.2M | $183.2M |
| YoY Growth | 7.1% | 9.4% | 17.1% | 18.5% | 17.0% | 23.0% | 16.6% | 23.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $868.0M | $858.3M | $889.8M | $876.9M | $908.8M | $936.5M | $976.5M | $980.0M |
| Liabilities | $984.5M | $1.01B | $1.01B | $1.02B | $1.05B | $1.08B | $1.11B | $1.13B |
| Equity | $-227.4M | $-255.5M | $-226.9M | $-253.1M | $-252.2M | $-263.8M | $-256.6M | $-284.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $43.9M | $18.6M | $28.1M | $1.7M | $48.4M | $29.2M | $19.5M | $14.4M |