Lindblad Expeditions Holdings Inc

Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) is a global provider of expedition cruises and adventure travel experiences spanning all seven continents through six brands. In collaboration with National Geographic, the company operates and sells the National Geographic-Lindblad Expeditions co-brand, offering ship-based voyages to remote destinations alongside scientists and naturalists with state-of-the-art exploration tools. The company's land-based brands — Natural Habitat Adventures, Off the Beaten Path, DuVine Cycling + Adventure Co., Classic Journeys, and Wineland-Thomson Adventures — provide wildlife, cultural, and adventure-focused experiences. The company operates in two reportable segments: Lindblad (expedition cruises) and Land Experiences (land-based adventure travel). Lindblad generates the majority of revenue through its expedition cruise operations, with key operational metrics including net yield per available guest night, occupancy rates, and available guest nights. The company partners with the World Wildlife Fund and National Geographic to differentiate its offerings. The business carries substantial debt of $675 million and operates with a stockholders' deficit, funded in part by significant unearned passenger revenues representing advance bookings. Updated Aug 3, 2026