Lindblad Q1 loss widens to $43M on $67.8M revenue as operations ramp

LINDBLAD EXPEDITIONS HOLDINGS, INC.

2022-Q1 EPS reported -$0.85 revenue$67,846,000

Tour revenue of $67.8M vs $1.8M in Q1 2021; net loss $43.0M ($0.85/share) vs $34.6M loss.
Adjusted EBITDA loss of $21.2M vs $20.8M loss; Lindblad segment loss $21.0M, Land Experiences loss $0.2M.
Bookings for H2 2022 up 50% vs H2 2019; full-year 2023 bookings up 32% vs 2020 at same point.
Closed $360M 6.75% senior secured notes due 2027; new $45M revolver; debt at $584.1M as of Mar 31.
Extended Galapagos Islands operating cupos for additional 20 years; stock buyback plan with $12M remaining, currently suspended.

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