Lindblad Expeditions Holdings, Inc. (LIND) Financial Statements
Industry: Transportation Services
In fiscal 2025, Lindblad Expeditions reported revenue of $771.0M, up 19.6% from $644.7M the year before. Net income was -$29.7M (a -3.9% net margin), or -$0.63 per diluted share. Gross margin was 45.8% and operating margin was 5.9%. Operating activities generated $111.6M of cash, leaving $63.9M of free cash flow. At fiscal year end, Lindblad Expeditions held $980.0M in total assets against $1.13B in total liabilities, including $256.7M of cash and equivalents.
Open the full interactive Lindblad Expeditions financials → Quarterly statements, key ratios, valuation history and price charts.
Lindblad Expeditions Key Stats
| Share Price | $36.37 |
|---|---|
| Market Cap | $2.38B |
| Revenue YoY Growth | +19.6% |
| 52-Week Range | $11.45 – $36.37 |
| Shares Outstanding | 65.5 million (basic, 2026 Q2) |
Lindblad Expeditions Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $97.8M | $147.1M | $421.5M | $569.5M | $644.7M | $771.0M |
| Cost of Goods Sold | $170.8M | $257.9M | $484.5M | $558.9M | $623.2M | $725.5M |
| Gross Profit | -$72.9M | $22.6M | $138.3M | $247.2M | $301.1M | $353.0M |
| Operating Income | -$88.4M | -$110.8M | -$63.0M | $10.6M | $21.6M | $45.5M |
| Pre-Tax Income | -$109.9M | -$121.2M | -$102.1M | -$37.7M | -$25.1M | -$21.8M |
| Income Tax | -$9.8M | -$2.0M | $6.1M | $3.1M | $3.1M | $2.5M |
| Net Income | -$98.7M | -$119.2M | -$111.4M | -$45.6M | -$31.2M | -$29.7M |
| Diluted EPS | -$2.01 | -$2.41 | -$2.23 | -$0.94 | -$0.67 | -$0.63 |
Lindblad Expeditions Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $240.2M | $183.2M | $208.0M | $199.2M |
| Net Income | $1.2M | -$23.6M | $6.5M | -$1.4M |
| Diluted EPS | — | -$0.43 | $0.09 | -$0.02 |
Lindblad Expeditions Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $187.5M | $150.8M | $87.2M | $156.8M | $183.9M | $256.7M |
| Current Assets | $229.2M | $210.3M | $183.3M | $244.5M | $278.4M | $367.9M |
| Total Assets | $757.4M | $827.5M | $788.0M | $831.3M | $876.9M | $980.0M |
| Current Liabilities | $155.8M | $289.5M | $341.1M | $319.2M | $392.5M | $461.6M |
| Total Long-Term Debt | $482.6M | $544.7M | $552.8M | $621.8M | $625.5M | $662.7M |
| Total Liabilities | $631.2M | $811.5M | $873.6M | $945.1M | $1.02B | $1.13B |
| Shareholders' Equity | $35.0M | -$78.6M | -$182.7M | -$225.1M | -$253.1M | -$284.5M |
Lindblad Expeditions Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$92.3M | $32.5M | -$2.2M | $25.4M | $92.4M | $111.6M |
| Cash From Investing | -$155.5M | -$114.7M | -$49.6M | -$14.8M | -$44.1M | -$67.3M |
| Cash From Financing | $343.0M | $50.4M | -$4.9M | $60.7M | -$19.8M | $29.6M |
| Free Cash Flow | -$247.8M | -$64.2M | -$40.4M | -$4.6M | $58.9M | $63.9M |
Figures from Lindblad Expeditions' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Lindblad Expeditions financials page for every line item.
Lindblad Expeditions Company Profile
| Ticker | LIND |
|---|---|
| Exchange | Nasdaq |
| Industry | Transportation Services |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0001512499 |
Frequently Asked Questions
What was Lindblad Expeditions' revenue in fiscal 2025?
Lindblad Expeditions (LIND) reported revenue of $771.0M for fiscal 2025.
What is Lindblad Expeditions' annual revenue history?
Lindblad Expeditions' annual revenue by fiscal year: 2020: $97.8M; 2021: $147.1M; 2022: $421.5M; 2023: $569.5M; 2024: $644.7M; 2025: $771.0M.
What was Lindblad Expeditions' net income in fiscal 2025?
Lindblad Expeditions reported net income of -$29.7M for fiscal 2025.
What was Lindblad Expeditions' earnings per share (EPS) in fiscal 2025?
Lindblad Expeditions' diluted EPS was -$0.63 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Lindblad Expeditions generate in fiscal 2025?
Lindblad Expeditions generated $63.9M of free cash flow in fiscal 2025.
What was Lindblad Expeditions' revenue last quarter?
In its most recent reported quarter (2026 Q2), Lindblad Expeditions reported revenue of $199.2M.
How much debt does Lindblad Expeditions have?
Lindblad Expeditions reported $662.7M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Lindblad Expeditions are outstanding?
Lindblad Expeditions reported a weighted average of 65.5 million basic shares outstanding in 2026 Q2.
What is Lindblad Expeditions' market cap?
Based on its latest closing price, Lindblad Expeditions (LIND) has a market capitalization of about $2.38B.
When does Lindblad Expeditions' fiscal year end?
Lindblad Expeditions' fiscal year end, as registered with the SEC, is December 31.
Where is Lindblad Expeditions headquartered?
Lindblad Expeditions lists its business address in New York, New York in its SEC filings.