secwatch.observer — SEC 8-K summary
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Issuer:     LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND)
CIK:        0001512499
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001437749-26-005736
Event type: earnings
Sentiment:  positive
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lindblad reports record 2025 adjusted EBITDA $126.2M, up 38%; guides FY2026 EBITDA $130-140M
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- Full year 2025 total revenues $771.0M (+20% YoY); net loss $34.6M improved from $35.8M.
- Adjusted EBITDA $126.2M (+38%); net yield per available guest night up 14% to $1,335; occupancy 88%.
- Q4 2025 revenues $183.2M (+23%); adjusted EBITDA $14.2M (+5%).
- Refinanced $675M senior secured notes at 7.00%, maturing 2030; converted all preferred stock to 9M common shares.
- FY2026 guidance: revenues $800-850M, adjusted EBITDA $130-140M; $12M remaining in stock repurchase plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512499/000143774926005736/0001437749-26-005736-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512499/000143774926005736/lindb20251106_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-005736

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