Lindblad Q2 revenues up 37% to $124.8M; Adj. EBITDA turns positive at $6.2M

LINDBLAD EXPEDITIONS HOLDINGS, INC.

2023-Q2 EPS reported -$0.49 revenue$268,194,000

Revenue $124.8M (+37% YoY); net loss $25.6M ($0.48/sh) improved from $30.0M loss a year ago.
Adjusted EBITDA $6.2M vs -$6.2M prior year; Lindblad segment occupancy 74%, net yield $1,034 (+5%).
Issued $275M 9% senior secured notes due 2028 to refinance export credit; cash $197.4M, debt $635.1M.
Full-year 2023 guidance: revenue $550-575M, Adj. EBITDA $70-80M; 2023 bookings 43% ahead of 2019.
Stock repurchases $23M under $35M plan; 875K shares and 6.0M warrants bought as of July 24.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LINDBLAD EXPEDITIONS HOLDINGS, INC. reported second quarter ended June 30, 2023 results: revenue $124.8 million, net income $25.6 million, EPS $0.48 per diluted share. Guidance initiated.

Period: second quarter ended June 30, 2023
Revenue: $124.8 million
Net income: $25.6 million
EPS: $0.48 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Second quarter tour revenues of $124.8 million increased $33.9 million, or 37%, as compared to the same period in 2022. The increase was driven by a $23.4 million increase at the Lindblad segment and a $10.5 million increase at the Land Experiences segment. Lindblad segment tour revenues of $87.4 million increased $23.4 million, or 36%, compared to the second quarter a year ago primarily due to a 34% increase in available guest nights as we continued to ramp operations. The year-on-year growth was also driven by a 5% increase in net yield per available guest night to $1,034 due to increased pricing and broader fleet utilization. Land Experiences tour revenues of $37.4 million increased $10.5 million, or 39%, compared to the second quarter a year ago primarily due to additional departures and higher pricing. Net Income Net loss available to stockholders for the second quarter was $25.6 million, $0.48 per diluted share, as compared with net loss available to stockholders of $30.0 million

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accession 0001437749-23-020790

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