---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-012197"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T00:58:30.829199+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lindblad Q1 revenue $143.4M, net loss narrows to $0.4M; full-year guidance issued

## Summary
- Total revenue $143.4M, up 111% YoY; net loss $0.4M ($0.01/share) vs. $43.0M loss in Q1 2022.
- Adjusted EBITDA $27.2M, a $48.4M improvement from -$21.2M in prior year.
- Lindblad segment net yield per available guest night $1,205 (+63% YoY); occupancy 81% vs. 66%.
- 2023 guidance: tour revenues $550-575M, Adjusted EBITDA $70-80M; bookings for 2023 45% ahead of 2019 pace.
- Issued $275M 9.00% senior secured notes due 2028 to refinance export credit facilities.

## SEC filing metadata
- accession: 0001437749-23-012197
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000143774923012197/0001437749-23-012197-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000143774923012197/lindb20230418_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-012197
- JSON: https://secwatch.observer/filing/0001437749-23-012197.json
- Plain text: https://secwatch.observer/filing/0001437749-23-012197.txt

## Key facts
- Earnings Releases
  LINDBLAD EXPEDITIONS HOLDINGS, INC. reported first quarter ended March 31, 2023 results: revenue Total revenue of $143.4 million, net income Net loss available to stockholders of $0.4 million, EPS $0.01 per diluted share. Guidance initiated.
  - Period: first quarter ended March 31, 2023
  - Revenue: Total revenue of $143.4 million
  - Net income: Net loss available to stockholders of $0.4 million
  - EPS: $0.01 per diluted share
  - Guidance: initiated
  - Result: reported results
  source text: EXHIBIT 99.1 ex_502203.htm Exhibit 99.1 Lindblad Expeditions Holdings, Inc. Reports 2023 First Quarter Financial Results First Quarter 2023 Highlights: ● Total revenue of $143.4 million increased $75.5 million versus 2022 and $53.7 compared with 2019 ● Net loss available to stockholders of $0.4 million improved $42.6 million versus 2022 ● Adjusted EBITDA of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774923012197/0001437749-23-012197-index.htm
- Earnings Releases
  LINDBLAD EXPEDITIONS HOLDINGS, INC. reported full year 2023 results: revenue Tour revenues of $550 - $575 million. Guidance initiated.
  - Period: full year 2023
  - Revenue: Tour revenues of $550 - $575 million
  - Guidance: initiated
  - Result: guidance update
  source text: The Company's current expectations for the full year 2023 are as follows: ● Tour revenues of $550 - $575 million ● Adjusted EBITDA of $70 - $80 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774923012197/0001437749-23-012197-index.htm

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