10x Insights
Loading account…
Companies / Consumer Discretionary / Lindblad Expeditions Holdings, Inc.
LIND

Lindblad Expeditions Holdings, Inc.

Consumer DiscretionaryTransportation & Utilities
Ticker LINDNEW YORK, NYFiscal year ends DecemberBook value per share $-2.64Diluted shares 65.2M

Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) provides marine expeditions and land-based adventure travel worldwide. Its Lindblad segment operates small expedition vessels and offers voyages to remote natural and cultural destinations, while its Land Experiences segment provides guided tours, safaris, cycling… From the company’s description.

Over the twelve months to Sep 30, 2026, Lindblad Expeditions Holdings, Inc. reported revenue of $859.59M, up 16.7% from a year earlier, and net income of $9.95M. Its operating margin was 7.5%, and operations generated $125.78M in cash. In fiscal 2025, it reported revenue of $771.02M, up 19.6% from fiscal 2024, and a net loss of $24.23M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$771.02MFY2025
+19.6% year over year
Last 12 mo $859.59M
5.90%FY2025
+2.6 percentage points
Last 12 mo 7.54%
$-24.23MFY2025
+14.1% year over year
Last 12 mo $9.95M
10.45%FY2025
−1.9 percentage points
Last 12 mo -3.36%
Cash & financing
$111.58MFY2025
+20.8% year over year
Last 12 mo $125.78M
$63.84MFY2025
+8.5% year over year
Last 12 mo $95.99M
-2.33FY2025
Was -2.47× a year earlier
Last 12 mo -3.87
55.0MFY2025
+2.1% year over year
Last 12 mo 65.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Lindblad Expeditions Holdings, Inc. does

In the company’s own words

Lindblad Expeditions Holdings, Inc. (Nasdaq: LIND) provides marine expeditions and land-based adventure travel worldwide. Its Lindblad segment operates small expedition vessels and offers voyages to remote natural and cultural destinations, while its Land Experiences segment provides guided tours, safaris, cycling trips and walking journeys in small groups or through private custom itineraries. Customers include individual travelers and families, with U.S. travelers accounting for most guest ticket revenue in 2025. Lindblad’s brands include Natural Habitat, Off the Beaten Path, DuVine, Classic Journeys and Thomson Group, which includes Thomson Safaris, Nature Discovery and Gibb’s Farm. The company operates 12 owned expedition vessels and uses seasonal charter ships; its Lindblad voyages are co-branded with National Geographic under a partnership extended through 2040. The company was founded in 1979 and expanded its land-based offerings through acquisitions, including several travel operators in 2021 and Thomson Group in 2024. Its website is www.expeditions.com.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Transportation & Utilities
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
1512499
SIC
4700

Financial performance, year by year

Fiscal 2013–2025 · USD
$-217.04M$76.58M$370.21M$663.84M$957.47M2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Lindblad Expeditions Holdings, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

207
funds hold it
1 of 35
superinvestors hold it
$466.71M
held by funds, at market
29.5%
of shares held by funds

Superinvestors in Lindblad Expeditions Holdings, Inc. · what they did last quarter

Polen CapitalINCREASED +12.5%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Lindblad Expeditions Holdings, Inc.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
Fidelity Small Cap Growth Fund
FCPGX · Fidelity Securities Fund
—of fund net assets
Strategic Advisers Fidelity U.S. Total Stock Fund
FCTDX · Fidelity Rutland Square Trust II
—of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.02%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Lindblad Expeditions Holdings, Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Lindblad Expeditions Holdings, Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Lindblad Expeditions Holdings, Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.