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LIND · Lindblad Expeditions Holdings, Inc.

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$34.55 +0.42 (+1.23%) At close · Nov 13
Russell 2000 member Rebalance outlook locked
Market Cap
$2.27B
Shares
65.66M
Volume · Nov 13 655.82K Avg daily vol (3M) 882.86K

Price & Indicators

Drag to pan · scroll to zoom
Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$34.55 Open$34.13 Day$33.34–34.58 52W close$11.45–37.38 Avg vol 30d867K Short int5.2M · 8.0% of shares · 6.7d Short vol73% Last earningsNov 3, 2026 DataJan 2020–Nov 2026 Filing10-Q · Nov 3

Up next

Next earnings call
Feb 25, 2027 Est · unconfirmed · in 15 wks
Q3 2026 earnings call transcript
call held Nov 3, 2026
Play latest call

Latest documents

2026
Nov 3
Quarterly report 10-Q FY2026 Q3, ended Sep 30
Net income rises to $27,087 thousand on higher revenue

Lindblad Expeditions Holdings reported third-quarter net income of $27,087 thousand and tour revenues of $269,151 thousand, versus $4,573 thousand and $240,172 thousand in 2025. Nine-month operating cash flow was $111,339 thousand.

Revenue $269.15M ▲ 12.1% Net income $24.24M ▲ 1936.9% Diluted EPS $0.36
Read from the first part of this long document
4 source passages
LINDBLAD EXPEDITIONS HOLDINGS, INC. For the three months ended September 30, | | | For the nine months ended September 30, | | | **2026** | **2025** | **2026** | **2025** | | Tour revenues | 269,151 | 240,172 | 676,411 | 587,838 | | Net income (loss) | 27,087 | 4,573 | 32,795 | (1,383) | For the nine months ended September 30, | | | **2026** | **2025** | | Net cash provided by operating activities | 111,339 | 97,141 | *All values are in US Dollars.* Open the document at this passage
Nov 3
Earnings call
Raises 2026 Revenue Guidance After Record Third Quarter

Lindblad Expeditions raised 2026 revenue guidance to $870 to $885 million after third-quarter revenue of $269.2 million and adjusted EBITDA of $64.1 million, while acquiring a 60% controlling interest in White Desert and Echo Charlie.

5 source passages
The third quarter was another record-setting quarter for Lindblad Expeditions, with our highest-ever quarterly-adjusted EBITDA and net income, and our third consecutive quarter with occupancy above 90%. Total company revenue for the third quarter was $269.2 million, an increase of $29 million, or 12.1% compared to the prior year. Adjusted EBITDA for the quarter was $64.1 million, an increase of $6.9 million, or 12%, compared to the third quarter of 2025. Given our continued momentum, we are rising our 2026 full-year guidance again. Specifically, we are increasing our revenue guidance to a range of $870 to $885 million from our previous guidance of $850 to $880 million. Cash used in investing activities totaled $73.4 million, including $18.8 million in capital expenditures, primarily for maintenance of our own fleet, and approximately $54.6 million for the acquisition of 60% controlling interest in White Desert and Echo Charlie. Open the document at this passage
Nov 3
Current report 8-K
Revenue rises 12% to record quarterly net income

Lindblad Expeditions Holdings, Inc. reported third-quarter revenue of $269.2 million, up 12%, net income available to stockholders of $24.2 million and Adjusted EBITDA of $64.1 million, up 12%.

Financial results
4 source passages
Lindblad Expeditions Holdings, Inc. Reports 2026 Total revenue increased 12% to $269.2 million Net income available to stockholders of $24.2 million, the highest quarterly result in Company history Adjusted EBITDA increased 12% to $64.1 million Open the document at this passage
Aug 3
Quarterly report 10-Q FY2026 Q2, ended Jun 30
Quarterly report for FY2026 Q2 AI summary on its way
Revenue $199.25M ▲ 18.6% Net loss $1.41M Diluted EPS -$0.02
All documents

Metrics snapshot

Useful current figures from the complete screener profile.

Revenue (TTM)
$859.59M
Trailing 12 months
Net income (TTM)
$5.78M
Trailing 12 months
Revenue growth YoY
+12.1%
Year over year
Operating margin
7.5%
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
4.2%
TTM · current market cap
Return on invested capital
14.4%
Trailing 12 months
Net cash
−$389.57M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+20.0%
Year over year · more shares
Price change (1Y)
+186.7%
Trailing year
Short interest
8.0%
Latest settlement · 6.7 days to cover
View all 125 metrics

Quarterly results

Revenue Net income Net loss
▲18.5% $148.61M −$25.05M '24 Q4* ▲17% $179.72M $1.16M '25 Q1 ▲23% $167.94M −$8.52M '25 Q2 ▲16.6% $240.17M $1.19M '25 Q3 ▲23.3% $183.18M −$23.55M '25 Q4* ▲15.7% $208.01M $6.50M '26 Q1 ▲18.6% $199.25M −$1.41M '26 Q2 LATEST ▲12.1% $269.15M $24.24M '26 Q3

* Q4 derived as the full year minus Q1 to Q3.

AI Brief

Q2 FY26 earnings call · Aug 3, 2026
Q2 FY26

TL;DR. Lindblad (LIND) reported Q2 2026 revenue of $199.2M (+19%), record net yield of $1,294 and 91% occupancy despite 12% capacity growth, and raised full-year 2026 revenue guidance to $830–$860M (from $800–$850M) and net yield guidance to 4.5–5.5% (from 4–5%), while maintaining adjusted EBITDA guidance of $130–$140M due to elevated fuel costs.

Bullish
  • + Adjusted EBITDA grew 31% to $32.5M with margin expanding 150 bps to 16.3%
  • + Raised full-year 2026 revenue guidance to $830–$860M (from $800–$850M) and net yield guidance to 4.5–5.5% (from 4–5%)
  • + Free cash flow YTD up 93% to $93.6M and net leverage fell to 2.2x from 2.7x
Bearish
  • − Adjusted EBITDA guidance maintained at $130–$140M despite higher revenue outlook due to elevated fuel costs
  • − Q2 capacity (+12%) absorbed but H2 2026 available guest nights expected to be approximately flat YoY
  • − G&A expense (ex-stock comp, transaction, reorganization) increased 27% YoY ($6.8M); only half explained by prior-year tax credit benefit

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Equibles Rating

blended score · not investment advice
Overall
Buy
SellHoldBuy
Technical Buy Momentum Very Strong Sentiment Bullish Fundamentals Strong Quant / Vol Very High
Market backdrop VIX 19.3 · elevated Equity put/call 0.63
Technical
price trend
Buy
50 / 200-day cross No cross
Price vs 200-day avg +36%
above
Price vs 50-day avg +7%
above
RSI (14) 51
neutral
MACD trend Negative
52-week position 89%
near high
Momentum
relative strength
Very Strong
1-month return 0%
trailing
6-month return +62%
trailing
YTD return +140%
this year
Relative strength +61%
vs S&P · 6-mo
Sentiment
smart money
Bullish
Trend (MA cross) No cross
50d $32 › 200d $25 — 50d above 200d
Institutional flow Accumulating
193 of 226 funds reported for Sep 30 · net +3.9M sh shares · +32 new
Insider flow Distributing
Net -$8.6M over 90 days · 100% sells
Short interest Falling
7.98% of shares out · ▼ -9.9% MoM · 6.7 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
226 holders — near 3-yr high, broad support
Squeeze score 76
high risk · 0–100
Fundamentals
Strong
Revenue growth +20%
Y/Y
Gross margin 20%
contracting
EPS growth +6%
Y/Y
Free cash flow $63.8M
Buyback $12.0M
remaining
Balance sheet $406.0M
net debt
Quant / Vol
risk profile
Very High
Volatility 53%
annualized · 1-yr
Max drawdown −27%
past year
ATR 5.1%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

Beat or met 3 of last 3
Latest guidance · from the Earnings Call filed Aug 3, 2026
Full-year revenue · 2026 Raised $830M – $860M
May 5, 2026 $800M – $850M changed to Aug 3, 2026 $830M – $860M
prior FY $771.02M midpoint +9.6% Y/Y
Net yield per an available guest night · 2026 4.5% – 5.5%
Adjusted EBITDA · 2026 Non-GAAP Maintained $130M – $140M
May 5, 2026 $130M – $140M changed to Aug 3, 2026 $130M – $140M
Previous outlook earlier release · from the 8-K filed May 5, 2026

Still-open targets the latest release did not restate under the same label.

Tour revenues · Full Year 2026 $800M – $850M
Guided vs delivered · last 3 settled
Tour revenues Full Year 2025
guided $725M – $750M
$771.02M Beat +4.5%
Tour revenues full year 2024
guided $610M – $630M
$644.73M Beat +4.0%
Tour revenues full year 2023
guided $550M – $575M
$569.54M In line

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Buy
1 · 2 · 3
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
+36% Bullish
Price vs 50-day avg
+7% Bullish
RSI (14)
51 Neutral
MACD trend
Negative Bearish
52-week position
89% Bullish
Market signals — smart money & positioning
Bullish · 3 of 6
Trend (MA cross) No cross
50d $32 › 200d $25 — 50d above 200d
Institutional flow Accumulating
193 of 226 funds reported for Sep 30 · net +3.9M sh shares · +32 new
Insider flow Distributing
Net -$8.6M over 90 days · 100% sells
Short interest Falling
7.98% of shares out · ▼ -9.9% MoM · 6.7 days cover
Volume signal Normal
Volume near normal
Institution breadth Multi-yr high
226 holders — near 3-yr high, broad support
Price context
position in its 52-week range
Range low $11 Now $35 · 89% Range high $37
vs 200-day avg +36% vs 50-day avg +7%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings
Metric Latest Period YoY
Adjusted EBITDA non-GAAP 67.29M six months ended June 30, 2026 —
Adjusted Net Cruise Cost Excluding Fuel per Available Guest Night non-GAAP $972 the three months ended June 30, 2026 filing —
Adjusted Net Cruise Cost per Available Guest Night non-GAAP $1,048 three months ended June 30, 2026 —
Available Guest Nights 91,185 three months ended June 30, 2026 —
Departures 832 the three months ended June 30, 2026 filing —
Free Cash Flow non-GAAP 93.64M six months ended June 30, 2026 —
Gross Cruise Cost per Available Guest Night $1,190 three months ended June 30, 2026 —
Gross Yield per Available Guest Night $1,417 three months ended June 30, 2026 —
Guest Nights Sold 82,922 three months ended June 30, 2026 —
Guests 6,784 the three months ended June 30, 2026 filing —
Land Experiences segment Adjusted EBITDA non-GAAP 10M the second quarter 2026 —
Lindblad segment Adjusted EBITDA non-GAAP 22.5M the second quarter 2026 —
Lindblad segment net yield per available guest night $1,294 the second quarter 2026 —
Maximum Guests 12,561 three months ended June 30, 2026 —
Net Cruise Cost Excluding Fuel per Available Guest Night $991 three months ended June 30, 2026 —
Net Cruise Cost per Available Guest Night $1,067 the three months ended June 30, 2026 filing —
Net Yield per Available Guest Night $1,294 three months ended June 30, 2026 —
Number of Guests 11,521 three months ended June 30, 2026 —
Occupancy 91% the second quarter 2026 —
Voyages 162 three months ended June 30, 2026 —

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Travel Services — same industry group
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
LIND
Lindblad Expeditions Holdings, Inc.
this stock
$2.27B +139.6% +19.6% — 8.0%
BKNG
Booking Holdings Inc.
 $118.68B — +13.4% 17.3 2.3%
ABNB
Airbnb, Inc.
 $111.46B +37.6% +10.3% 34.8 2.2%
RCL
Royal Caribbean Cruises Ltd
 $86.47B +15.9% +3.3% 19.1 4.3%
VIK
Viking Holdings Ltd
 $40.14B +25.9% — — 2.2%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section
Ownership
Institutional Holders Accumulating
Holders
243
% held
86.4%
Reported
193 of 226
Top holder
FMR LLC
Held Float
View
Held by Funds
Fund positions
229
View
Short & Settlement
Short Interest Falling
Shares short
5.2M
Days to cover
6.7d
Change
-578.2K sh
View
Short Volume
Short vol %
73%
As of
Nov 13, 2026
Short Total
View
Fails to Deliver
FTD shares
228
Value
$8.0K
As of
Oct 8, 2026
View
Off-Exchange
Off-exchange %
44.3%
Week of
Oct 5, 2026
Off-exch Lit
View
Smart Money
Insider Trades Net selling
Net (90d)
-$8.6M
Buyers / Sellers
0 / 1
Buyers Sellers
View
Financials
Financials
Net income (FY)
$-29.7M
EPS diluted
$-0.63
View
Buybacks
Authorized
$35.0M
Remaining
$12.0M
Spent Remaining
View
Filings
SEC Filings
Latest
10-Q
Filed
Nov 3, 2026
This year
16

Lindblad Expeditions Holdings reported third-quarter net income of $27,087 thousand and tour revenues of $269,151 thousand, versus $4,573 thousand and $240,172 thousand in 2025. Nine-month operating cash flow was $111,339 thousand.

View
Proposed Sales
Value
$66.1K
Shares
3.0K
Filed
Jun 25, 2026
View
Earnings & Events
Webcasts
Last webcast
Nov 3, 2026
View
Investor Relations
Latest news
Lindblad Expeditions Holdings, In…
Published
Nov 3, 2026
View

Performance

5D 20D 120D MTD YTD
LIND +1.7% +0.0% +61.7% -7.5% +139.6%
SPY +2.6% -1.2% +0.5% -0.2% +10.6%
vs SPY -0.9% +1.2% +61.2% -7.3% +129.0%

Capital returns

Buyback program · as of Jul 31, 2026
Authorized
$35.00M
Spent (derived)
$23.00M
Remaining
$12.00M
Spent Remaining

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 1512499 CUSIP 535219109 13F (30d) 181 filings 165 filers Visit website Investor relations