Filing Flows › Lindblad Expeditions Holdings (LIND) › Q2 2026 › vs Q1 2026
Lindblad Expeditions Holdings (LIND) Q2 2026 vs Q1 2026 (quarter over quarter)
Lindblad Expeditions Holdings's revenue fell $8.8M (-4%) from $208M in Q1 2026 to $199M in Q2 2026. The biggest changes: Lindblad Segment −$23.3M (-15%); Land-experience +$14.5M (+26%).
Lindblad Expeditions Holdings, Q2 2026: revenue $199M (+19% year over year), operating margin 6.0%, net loss $343K, operating cash flow $59.1M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 25.6% | 20.5% | +5.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Lindblad Segment | $129M | $152M | −$23.3M | -15% |
| Land-experience | $70.0M | $55.5M | $14.5M | +26% |
| Revenue | $199M | $208M | −$8.8M | -4% |
| Net loss | $343K | −$6.1M | $6.4M | — |
| Costs & expenses | $200M | $209M | −$9.6M | -5% |
| Operating costs | $187M | $192M | −$5.1M | -3% |
| Interest & other, net | $10.9M | $10.8M | $68K | +0.6% |
| Income tax | $1.4M | −$1.2M | $2.7M | — |
| Cost of revenue | $103M | $107M | −$4.1M | -4% |
| Sales & marketing | $32.0M | $35.9M | −$3.9M | -11% |
| General & admin | $34.2M | $32.0M | $2.1M | +7% |
| Other operating costs | $18.5M | $17.7M | $816K | +5% |
| Operating cash sources | $59.4M | $43.4M | $16.0M | +37% |
| Depreciation & amortization | $18.5M | $17.7M | $817K | +5% |
| Share-based compensation | $1.9M | $1.7M | $189K | +11% |
| Working capital & other | $39.0M | $24.0M | $15.0M | +62% |
| Net loss absorbed | $343K | −$6.1M | $6.4M | — |
| Operating cash flow | $59.1M | $49.5M | $9.6M | +19% |
| Free cash flow (OCF − capex) | $51.1M | $42.6M | $8.5M | +20% |
| Capital expenditures | $8.0M | $6.9M | $1.1M | +16% |
Questions
How much did Lindblad Expeditions Holdings's revenue grow quarter over quarter in Q2 2026?
Lindblad Expeditions Holdings's revenue fell $8.8M (-4%) from $208M in Q1 2026 to $199M in Q2 2026.
What drove Lindblad Expeditions Holdings's revenue change in Q2 2026?
Lindblad Segment −$23.3M (-15%); Land-experience +$14.5M (+26%).