Filing Flows › Lindblad Expeditions Holdings (LIND) › Q1 2026
Lindblad Expeditions Holdings (LIND) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Lindblad Expeditions Holdings (LIND) reported revenue of $208M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +14% from the quarter before. Operating margin was 7.5%, net earnings $6.5M (3.1% of revenue).
Lindblad Expeditions Holdings, Q1 2026: revenue $208M (+16% year over year), operating margin 7.5%, net earnings $6.5M, operating cash flow $49.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $208M | +14% | +16% |
| Operating profit | $15.6M | — | +47% |
| Net earnings | $6.5M | — | +460% |
| Operating cash flow | $49.5M | +243% | +2% |
| Free cash flow | $42.6M | — | +22% |
What changed
Revenue was $208.0M in Q1 2026, up 16% year over year and up 14% from the previous quarter. Lindblad Segment was the largest line at 73% of revenue. Lindblad Segment added $21.4M year over year (up 16%), 76% of the total change.
Operating profit was $15.6M, a 7.5% margin (up 1.6 points year over year). Of the extra revenue versus Q1 2025, 18% reached operating profit, above the 6% margin then. Total costs grew 14% against revenue growth of 16%. The fastest-growing cost line was Sales & marketing (+27%). Net earnings were $6.5M, up 460% year over year ($6.1M including minority interests, which bore $449K of losses). The effective tax rate was -25.4%.
Operating cash flow was $49.5M (up 2% year over year), 818% of net income including minority interests. Non-cash charges added back $17.7M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $24.0M. After purchases of property and equipment ($6.9M), free cash flow as the company reports it was $42.6M.
Questions
What was Lindblad Expeditions Holdings' revenue in the first quarter 2026?
Lindblad Expeditions Holdings (LIND) reported revenue of $208M for the first quarter 2026 (Q1 2026), +16% from a year earlier and +14% from the quarter before.
Was Lindblad Expeditions Holdings profitable in the first quarter 2026?
Operating profit was $15.6M (7.5% of revenue) and net earnings $6.5M.