Lindblad revenue nears $200 million after 19% rise

• Lindblad reported Q2 tour revenue of $199.2 million, up 19% from the previous year.
• Adjusted EBITDA increased 31% to $32.5 million, while the net loss narrowed to $1.4 million.
• Lindblad maintained its 2026 outlook and has $12 million remaining under its share-repurchase plan.

Lindblad Expeditions Holdings (NASDAQ:LIND) reported Q2 tour revenue of $199.2 million, up 19% year over year.

The quarterly loss narrowed to $1.4 million from $9.7 million, while adjusted EBITDA rose 31% to $32.5 million.

Occupancy improved to 91% from 86%, while net yield per available guest night reached a record $1,294.

Lindblad expects 2026 revenue of $830–$860 million and adjusted EBITDA of $130–$140 million.

Following the announcement the Lindblad Expeditions share price was down 0.81% at $29.58 in premarket trading.

The company held $364.9 million in cash, carried $675 million in debt and had $12 million remaining for repurchases.

Lindblad operates six ship- and land-based expedition brands across seven continents, including its partnership with National Geographic.