secwatch.observer — SEC 8-K summary
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Issuer:     LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND)
CIK:        0001512499
Form:       8-K
Filed at:   2025-11-04T23:59:59+00:00
Accession:  0001437749-25-032880
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lindblad Q3 revenue $240.2M (+17%); adj. EBITDA record $57.3M (+25%); net loss $49k vs prior year income $21.3M
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- Revenue $240.2M (+17% YoY); Lindblad net yield $1,314 (+9%), occupancy 88% (vs 82%).
- Adjusted EBITDA $57.3M (+25%); Lindblad $32.8M, Land Experiences $24.5M.
- Net loss $49k ($0.00/diluted) vs net income $21.3M ($0.36) in Q3 2024; includes $23.5M debt refinancing costs.
- Refinanced with 7.00% Senior Secured Notes due 2030; blended rate cut ~75 bps; S&P upgraded credit rating.
- FY2025 outlook: tour revenue $745-$760M, adjusted EBITDA $119-$123M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512499/000143774925032880/0001437749-25-032880-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512499/000143774925032880/lindb20251008_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-032880

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer