Filing Flows › Lindblad Expeditions Holdings (LIND) › Q1 2025
Lindblad Expeditions Holdings (LIND) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 6, 2025
Lindblad Expeditions Holdings (LIND) reported revenue of $180M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +21% from the quarter before. Operating margin was 5.9%, net earnings $1.0M (0.6% of revenue).
Lindblad Expeditions Holdings, Q1 2025: revenue $180M (+17% year over year), operating margin 5.9%, net earnings $1.0M, operating cash flow $48.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $180M | +21% | +17% |
| Operating profit | $10.6M | — | — |
| Net earnings | $1.0M | — | — |
| Operating cash flow | $48.4M | 29× | +10% |
| Free cash flow | $35.0M | — | -7% |
What changed
Revenue was $179.7M in Q1 2025, up 17% year over year and up 21% from the previous quarter. Lindblad Segment was the largest line at 73% of revenue. Land-experience added $13.3M year over year (up 38%), 51% of the total change.
Operating profit was $10.6M, a 5.9% margin (up 0.8 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 5% margin then. Total costs grew 16% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+35%). Net earnings were $1.2M.
Operating cash flow was $48.4M (up 10% year over year), 4787% of net income including minority interests. Non-cash charges added back $15.3M of depreciation and amortization and $3.7M of share-based compensation. Working capital and other items added $28.4M. After purchases of property and equipment ($13.4M), free cash flow as the company reports it was $35.0M.
Questions
What was Lindblad Expeditions Holdings' revenue in the first quarter 2025?
Lindblad Expeditions Holdings (LIND) reported revenue of $180M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +21% from the quarter before.
Was Lindblad Expeditions Holdings profitable in the first quarter 2025?
Operating profit was $10.6M (5.9% of revenue) and net earnings $1.0M.