Lindblad Expeditions Holdings Inc (LIND) financials
Lindblad Expeditions revenue and earnings by year
Lindblad Expeditions's revenue was $771 million in the fiscal year to December 31, 2025, up 19.6% from the year before. Net income was -$29.7 million, -3.9% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 13.7% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 771 | 645 | 570 | 422 | 147 | 82 | 343 | 310 | 267 | 242 |
| Revenue growth | 19.6% | 13.2% | 35.1% | 186.5% | 78.6% | -76.0% | 10.8% | 16.2% | 10.0% | — |
| Gross profit | 353 | 282 | 231 | 138 | 23 | 9 | 176 | 156 | 131 | 123 |
| Gross margin | 45.8% | 43.8% | 40.6% | 32.8% | 15.4% | 11.4% | 51.4% | 50.4% | 49.1% | 50.9% |
| Operating income | 45 | 22 | 11 | -63 | -111 | -88 | 33 | 25 | 11 | 14 |
| Operating margin | 5.9% | 3.3% | 1.9% | -15.0% | -75.3% | -107.3% | 9.7% | 8.2% | 4.0% | 5.8% |
| Net income | -30 | -31 | -46 | -111 | -119 | -99 | 16 | 11 | -9 | 5 |
| Net margin | -3.9% | -4.8% | -8.0% | -26.4% | -81.0% | -119.9% | 4.8% | 3.7% | -3.2% | 2.0% |
| Diluted EPS | -$0.63 | -$0.67 | -$0.94 | -$2.23 | -$2.41 | -$1.99 | $0.29 | $0.25 | -$0.21 | $0.10 |
| Free cash flow | 64 | 59 | -5 | -40 | -64 | -248 | -33 | 2 | -28 | -45 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open LIND in Markets.
How Lindblad Expeditions makes money
Revenue by segment in the quarter to June 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Lindblad | $129M | 64.9% |
| Landexperience | $70.0M | 35.1% |
See also: LIND valuation and P/E history · LIND returns
No forecast, no recommendation. This page describes Lindblad Expeditions Holdings Inc from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.