LIND (Lindblad Expeditions Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

LIND (Lindblad Expeditions Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

LINDLindblad Expeditions Holdings, Inc.

Mkt Cap$972M

Consumer Cyclical·Travel Services·🇺🇸 United States·NASDAQ

Revenue (TTM)$771M

Net Income (TTM)-$30M

EPS (TTM)-$0.63

Free Cash Flow (TTM)$76M

Gross Margin37.6%

Op. Margin5.9%

Net Margin-3.9%

FCF Margin9.8%

P/S Ratio (TTM)1.3x

P/E Ratio (TTM)—

YoY Rev Growth+19.6%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$143M	$71M	$12M
Q2 23	$125M	$47M	-$9M
Q3 23	$176M	$80M	$20M
Q4 23	$125M	$48M	-$14M
Q1 24	$154M	$69M	$8M
Q2 24	$136M	$44M	-$8M
Q3 24	$206M	$102M	$29M
Q4 24	$149M	$67M	-$8M
Q1 25	$180M	$87M	$11M
Q2 25	$168M	$77M	$4M
Q3 25	$240M	$101M	$36M
Q4 25	$183M	$26M	-$6M

Valuation

Quarter	P/S	P/E
Q1 23	2.0x	—
Q2 23	1.8x	—
Q3 23	1.7x	—
Q4 23	1.7x	—
Q1 24	1.7x	—
Q2 24	1.6x	—
Q3 24	1.6x	—
Q4 24	1.5x	—
Q1 25	1.4x	—
Q2 25	1.4x	—
Q3 25	1.3x	—
Q4 25	1.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$2M	-$4M
Q2 23	$17M	$9M
Q3 23	$16M	$8M
Q4 23	-$10M	-$17M
Q1 24	$44M	$37M
Q2 24	$19M	$11M
Q3 24	$28M	$18M
Q4 24	$2M	-$8M
Q1 25	$48M	$35M
Q2 25	$29M	$13M
Q3 25	$20M	$12M
Q4 25	$26M	$15M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$6M
Q2 23	$8M
Q3 23	$8M
Q4 23	$7M
Q1 24	$6M
Q2 24	$7M
Q3 24	$10M
Q4 24	$10M
Q1 25	$13M
Q2 25	$16M
Q3 25	$8M
Q4 25	$11M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+111.4%	+28.2%
Q2 23	+37.3%	+20.9%
Q3 23	+21.6%	+11.9%
Q4 23	+6.3%	+4.5%
Q1 24	+7.1%	+11.3%
Q2 24	+9.4%	+8.6%
Q3 24	+17.1%	+13.5%
Q4 24	+18.5%	+12.2%
Q1 25	+17.0%	+16.0%
Q2 25	+23.0%	+13.0%
Q3 25	+16.6%	+15.7%
Q4 25	+23.3%	+20.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$3M	2.0%
Q2 23	$3M	2.7%
Q3 23	$3M	1.7%
Q4 23	$5M	3.7%
Q1 24	$2M	1.4%
Q2 24	$3M	2.0%
Q3 24	$3M	1.2%
Q4 24	$2M	1.7%
Q1 25	$4M	2.1%
Q2 25	$5M	3.2%
Q3 25	$5M	2.2%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$26M	$21M
Q2 23	$29M	$15M
Q3 23	$30M	$19M
Q4 23	$33M	$16M
Q1 24	$27M	$23M
Q2 24	$34M	$18M
Q3 24	$34M	$25M
Q4 24	$39M	$21M
Q1 25	$33M	$28M
Q2 25	$31M	$26M
Q3 25	$35M	$30M
Q4 25	$31M	$30M

Revenue Segments

Quarter	Land-experience	Lindblad Segment
Q1 23	$28M	$115M
Q2 23	$37M	$87M
Q3 23	$67M	$109M
Q4 23	$40M	$86M
Q1 24	$35M	$118M
Q2 24	$43M	$93M
Q3 24	$85M	$121M
Q1 25	$49M	$131M
Q2 25	$57M	$111M
Q3 25	$103M	$138M
Q4 25	$67M	$116M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$84M	$0	$84M
Q2 23	$143M	$0	$143M
Q3 23	$168M	$0	$168M
Q4 23	$157M	$0	$157M
Q1 24	$178M	$0	$178M
Q2 24	$168M	$0	$168M
Q3 24	$194M	$0	$194M
Q4 24	$184M	$0	$184M
Q1 25	$189M	$0	$189M
Q2 25	$201M	$0	$201M
Q3 25	$262M	$0	$262M
Q4 25	$257M	$0	$257M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	53M	+0.1%
Q2 23	53M	+0.2%
Q3 23	53M	+0.3%
Q4 23	53M	-0.1%
Q1 24	53M	+0.1%
Q2 24	54M	+0.2%
Q3 24	63M	+17.0%
Q4 24	54M	-13.1%
Q1 25	55M	+0.5%
Q2 25	55M	-0.1%
Q3 25	56M	+1.8%
Q4 25	55M	-0.5%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$99M	2
FY 15	$571K	368
FY 16	$516K	470
FY 17	$505K	528
FY 18	$516K	600
FY 19	$528K	650
FY 20	$198K	415
FY 21	$204K	720
FY 22	$474K	890
FY 23	$600K	950
FY 24	$496K	1K
FY 25	$497K	2K