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Lindblad Expeditions Holdings Inc. Common Stock (NASDAQ: LIND) serves as a global leader in the expedition cruising and adventure travel industry. Founded in 1958 by Lars-Eric Lindblad, considered the father of eco travel, the company has been pioneering sustainable and immersive travel experiences ever since. In 2004, Lindblad Expeditions forged a groundbreaking alliance with National Geographic, with a shared mission to inspire people to explore and care about the planet through expedition travel.
Today, the company operates a fleet of 10 ships, including the highly regarded 148-guest National Geographic Explorer and the 106-guest National Geographic Orion. These ships are equipped with sophisticated exploration tools, offering unique and immersive expeditions that feature up-close encounters with wildlife, nature, history, and culture. The company operates in two main segments: Lindblad and Land Experiences, with the Lindblad segment generating the majority of the revenue.
Recent achievements include a notable new series of gastronomic expeditions co-created with FOOD & WINE, exploring the Columbia and Snake Rivers. This collaboration emphasizes locally sourced ingredients and regional varietals, offering a culinary journey through the Pacific Northwest's historical and natural landscapes. Another significant milestone is the long-term extension of Lindblad's strategic relationship with National Geographic, expanding their partnership through 2040, and leveraging The Walt Disney Company's sales channels for broader distribution.
Financially, Lindblad Expeditions continues to demonstrate robust growth. As of the third quarter of 2023, the company reported tour revenues of $176.0 million, a 22% increase compared to the same period in 2022. The strategic investments in fleet expansion, diversified land offerings, and enhanced technological infrastructure have positioned Lindblad for significant earnings potential amid the growing demand for experiential travel.
Lindblad's financial outlook remains strong. The company holds substantial advance reservations for future travel, with bookings for 2024 already indicating continued growth. With a total debt position of $635.1 million as of September 30, 2023, Lindblad Expeditions maintains compliance with all applicable debt covenants, ensuring financial stability and the ability to invest in future growth opportunities.
For more information, visit www.expeditions.com or connect with Lindblad Expeditions on Facebook, Twitter, Instagram, YouTube, and Pinterest.
Lindblad Expeditions Holdings (Nasdaq: LIND) announced its intention to offer $340 million of senior secured notes due 2027 through its subsidiary, Lindblad Expeditions, LLC. This issuance is subject to market conditions, and it will be secured by first-priority liens on most assets of the Issuer and its guarantors. The net proceeds will be utilized to fully prepay existing borrowings, including a term loan and revolving credit facility, and terminate the existing credit agreement.
Lindblad Expeditions Holdings reported significant recovery in Q3 2021, with tour revenues of $64.5 million, a $63.5 million increase from Q3 2020. The company resumed operations for eight of ten vessels post-COVID-19 shutdown, showcasing strong booking momentum with 2022 bookings up 51% from 2021. Despite a net loss of $25.7 million ($0.50 per share), the company improved its Adjusted EBITDA loss by $10.9 million. Upcoming growth opportunities include the delivery of the National Geographic Resolution and the acquisition of Classic Journeys.
Lindblad Expeditions Holdings will announce its 2021 third-quarter financial results on November 2, 2021, before market opening. A conference call is scheduled for 8:30 AM ET to discuss these results, accessible via phone for U.S. and international participants. A replay of the call will be available within 48 hours. Lindblad, known for expedition cruises and adventure travel, collaborates with National Geographic for unique marine programs, promoting conservation and sustainable tourism worldwide.
Lindblad Expeditions Holdings has acquired an 80% stake in Classic Journeys, a luxury walking tour company. This strategic acquisition aims to expand Lindblad's adventure travel offerings, similar to past acquisitions like Natural Habitat and DuVine Cycling. Classic Journeys, established in 1995, focuses on immersive cultural experiences led by local guides in over 50 countries. The partnership complements Lindblad’s commitment to authentic travel while leveraging Classic Journeys' expertise to enhance their service offerings as they target a broader clientele in the growing adventure travel sector.
Lindblad Expeditions Holdings reported a second quarter tour revenue of $15.3 million, a significant increase from $15.5 million in the same period of 2020, driven by the resumption of expeditions. Despite a net loss of $36.6 million or $0.71 per diluted share, this reflects an improvement compared to $39.7 million in Q1 2020. The Company highlights advanced bookings for 2022 are 36% ahead of 2021. Operating costs are rising as operations ramp up, but liquidity remains strong with $160.1 million in unrestricted cash as of June 30, 2021.
Lindblad Expeditions Holdings (NASDAQ: LIND) will report its 2021 second quarter financial results on August 3, 2021, before market opens. A conference call will be held at 8:30 am ET to discuss these results. Interested parties can dial 844-378-6487 (U.S.), 855-669-9657 (Canada), or 412-542-4182 (International) to access the call. A replay will be available on the company's website within 48 hours. Lindblad Expeditions focuses on ship-based voyages and adventure travel, partnering with National Geographic for marine expeditions and sustainable tourism.
Lindblad Expeditions Holdings reported a significant revenue decline of 98% in Q1 2021, totaling $1.78 million, mainly due to COVID-19. The net loss was $34.5 million or $0.66 per share, worsened by increased interest expenses. However, advance bookings for 2022 are 39% higher than in 2021, indicating strong demand for adventure travel. Lindblad plans to resume operations in Alaska and the Galapagos in June 2021, backed by a robust liquidity strategy and the recent acquisitions of DuVine and Off the Beaten Path, expanding its adventure travel offerings.
Lindblad Expeditions Holdings (NASDAQ: LIND) will announce its first quarter financial results for 2021 on April 29, 2021, before market opening. A conference call is scheduled for 8:30 AM ET, accessible at 833-366-1371 (US) or 639-380-0047 (International), with Conference ID 7246409. The earnings release and a live audio webcast will be available on the investor relations section of their website. A replay of the call will be posted within 48 hours, with phone access through 800-585-8367 (US) or 416-621-4642 (International).
Lindblad Expeditions has announced the resumption of its operations for the 2021 season in Alaska and Galápagos, starting in June. Guests aged 16 and over must be vaccinated to travel. Health protocols include two negative COVID-19 tests and daily temperature checks. The first departures are scheduled for June 4-6. Lindblad aims to provide unique expedition experiences in these remote areas, focusing on wildlife exploration. For more details, visit their website or contact the company directly.
Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) has appointed Dolf Berle as its new President and CEO, effective May 10, 2021. He succeeds Sven-Olof Lindblad, who will transition to Co-Chair of the Board. Berle, previously CEO of Topgolf, brings strong growth and innovation experience. The Board aims to leverage his leadership to enhance guest experiences and expand operations. Lindblad Expeditions plans to resume operations in Alaska and the Galapagos in June 2021. Sarah Farrell, an independent board member, is stepping down, leaving a 10-member board.
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