---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-004836"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T21:56:02.468080+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lindblad FY2022 revenue $421.5M, net loss improves to $116.1M; guides FY2023 EBITDA $70-80M

## Summary
- Full year 2022 revenue $421.5M (+187% YoY); net loss $116.1M ($2.23/share) improved from $124.7M loss in 2021.
- Q4 2022 revenue $118.0M (+80% YoY); net loss $33.2M vs $27.8M loss in prior year quarter.
- Adjusted EBITDA loss FY2022 $11.5M (improved $52.5M); FY2023 guidance: revenue $550-575M, EBITDA $70-80M.
- Lindblad net yield $978/guest night (+11%); 2023 bookings 47% ahead of 2019 at same point.
- Issued $360M 6.75% senior secured notes due 2027 to refinance debt; $87.2M cash, $565.8M total debt.

## SEC filing metadata
- accession: 0001437749-23-004836
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000143774923004836/0001437749-23-004836-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000143774923004836/lindb20230126_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-004836
- JSON: https://secwatch.observer/filing/0001437749-23-004836.json
- Plain text: https://secwatch.observer/filing/0001437749-23-004836.txt

## Key facts
- Earnings Releases
  LINDBLAD EXPEDITIONS HOLDINGS, INC. reported the fourth quarter ended December 31, 2022 results: revenue $118.0 million, net income $33.2 million, EPS $0.63 per diluted share.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $118.0 million
  - Net income: $33.2 million
  - EPS: $0.63 per diluted share
  - Result: reported results
  source text: Fourth quarter tour revenues of $118.0 million increased $52.4 million as compared to the same period in 2021. The increase was driven by a $37.8 million increase at the Lindblad segment and a $14.6 million increase at the Land Experiences segment, primarily due to the ramp in expeditions and trips compared with the fourth quarter a year ago and higher pricing. The Land Experiences segment also includes a full quarter of results for Classic Journeys, which was acquired during the fourth quarter of 2021. Net Income Net loss available to stockholders for the fourth quarter was $33.2 million, $0.63 per diluted share,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774923004836/0001437749-23-004836-index.htm
- Earnings Releases
  LINDBLAD EXPEDITIONS HOLDINGS, INC. reported the full year ended December 31, 2022 results: revenue $421.5 million, net income $116.1 million, EPS $2.23 per diluted share.
  - Period: the full year ended December 31, 2022
  - Revenue: $421.5 million
  - Net income: $116.1 million
  - EPS: $2.23 per diluted share
  - Result: reported results
  source text: Full year tour revenues of $421.5 million increased $274.4 million as compared to the same period in 2021. The increase was driven by a $195.6 million increase at the Lindblad segment and a $78.8 million increase at the Land Experiences segment, primarily due to the ramp in expeditions and trips and higher pricing. The Land Experiences segment also includes a full year of results for Off the Beaten Path LLC (“Off the Beaten Path”), DuVine Cycling + Adventure (“DuVine”) and Classic Journeys, LLC (“Classic Journeys”), which were acquired during 2021. Net Income Net loss available to stockholders for the full year was $116.1 million, $2.23 per diluted share, as compared with net loss available to stockholders of $124.7 million, $2.41 per diluted share, in 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774923004836/0001437749-23-004836-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.