Q3 2025 Lindblad Expeditions Holdings Inc Earnings Call Transcript

Nov 4, 2025 / 02:00 PM GMT

Release Date Price: $12.45 (+2.05%)

Transcript 10-Q8-K

Key Points

Positve

Lindblad Expeditions Holdings Inc (LIND) achieved its highest guest net promoter scores ever for Q3 and year-to-date.
Consolidated revenues increased by 16.6%, with the Lindblad and land segments growing by 13.4% and 21.1% respectively.
Net yields increased by 9% to $1,314, marking the highest third-quarter yields in the company's history.
The company produced the highest level of adjusted EBITDA in its history, with a 25% increase to $57.3 million and margins expanding by 160 basis points to 23.8%.
Strong booking momentum for 2026 and 2027, with significant interest from Disney travel partners and an increase in bookings from earmarked Disney travel advisors by 42% year-to-date.

Negative

Operating expenses increased by $22.7 million or 14% compared to Q3 2024, driven by higher costs associated with additional voyages and trips.
Sales and marketing costs rose by 20%, primarily due to higher royalties and commission expenses.
General administrative costs increased by 7%, driven by higher personnel costs.
The company expects marketing expenses to remain elevated in Q4, reflecting investments in initiatives designed to drive growth into 2026 and 2027.
Net income available to stockholders was roughly breakeven, reflecting $23.5 million in debt refinancing expenses.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LIND.OQ - Lindblad Expeditions Holdings Inc
Q3 2025 Lindblad Expeditions Holdings Inc Earnings Call
Nov 04, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to the Lindland expedition's 3rd quarter earnings call. All lines have been placed on mute to prevent any background noise. After this previous remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question again, press the one. I would now like to turn the conference over to Rick Goldberg, CFO. You may begin.

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