---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-020790"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T00:23:09.614914+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-020790
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000143774923020790/0001437749-23-020790-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000143774923020790/lindb20230718_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-020790
- JSON: https://secwatch.observer/filing/0001437749-23-020790.json
- Plain text: https://secwatch.observer/filing/0001437749-23-020790.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774923020790/0001437749-23-020790-index.htm

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