Lindblad Expeditions Holdings LIND · USD
Consumer Discretionary · US listing · 🇺🇸 United States
35.70
+5.06%
Close of 9 Nov 2026, in USD
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About Lindblad Expeditions Holdings
From its filings with the US Securities and Exchange Commission
Lindblad Expeditions Holdings is based in New York, New York and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker LIND. The SEC classifies its business as transportation services. In the fiscal year to 31 December 2025, it reported revenue of $771.0m and a net loss of $29.7m. At that date it held total assets of $980.0m and shareholders' equity of −$284.5m.
Lindblad has been providing marine expedition adventures and active travel experiences globally to its guests since 1979. Our expedition sailing and land-based adventure travel experiences foster a spirit of exploration and discovery through itineraries that feature up-close encounters with wildlife, nature, history and culture, and promote guest empowerment, human connections and interactivity. Our mission is to offer life-enhancing adventures around the world and pioneering innovative ways to allow our guests to connect with exotic and remote places. Our brands include Lindblad Expeditions, Natural Habitat, Inc. (“Natural Habitat”), Off the Beaten Path, LLC (“Off the Beaten Path”), DuVine Cycling + Adventure Company (“DuVine”), Classic Journeys, LLC (“Classic Journeys”), and Thomson Group, consisting of Wineland-Thomson Adventures, LLC (“Thomson Safaris”), Nature Discovery Ltd (“Nature Discovery”), Thomson Safaris Ltd (“Thomson Safaris Tanzania”), and Ngorongoro Safari Lodge Ltd (“Gibb’s Farm”).
The Lindblad segment consists primarily of ship-based expeditions aboard customized, nimble and intimately-scaled vessels that are designed for discovery, enabling us to venture where larger cruise ships cannot, thereby allowing Lindblad to offer up-close experiences in the planet’s wild and remote places and capitals of culture.
Quoted from its 10-K, filed 26 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Consumer Discretionary
- Industry
- Hotels, Restaurants & Leisure
- Listed since
- 10 May 2013
- Employees
- 760
- Website
- expeditions.com ↗
- Head office
- 11 WEST 42ND STREET, NEW YORK, NY, 10036
- Incorporated in
- DE
- Classification
- Transportation Services
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Mark EinCo-Chairman of the Board, Lead Independent Director, since 2010$277,499
- Mr. Sven-Olof LindbladCo-Chairman of the Board, since 2015$725,101
- Mrs. Natalya LeahyChief Executive Officer
- Mr. Frederick GoldbergChief Financial Officer$669,827
- Mr. Benjamin BresslerFounder and Chief Executive Officer - Natural Habitat, Inc$9.2m
- Mr. Noah BrodskyChief Commercial Officer$2.1m
- Mr. Dean ByusChief Expedition Officer$1.1m
- Mr. Elliott BisnowIndependent Director$179,999
- Mr. Lindsay DrydenIndependent Director, since 2013$1.2m
- Mr. John FaheyIndependent Director$199,999
- Ms. Pamela KaufmanIndependent Director$162,499
- Ms. Annette ReavisIndependent Director$141,956
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 29
- Environment
- 26
- Social
- 42
- Governance
- 20
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Lindblad Expeditions Holdings Inc has several strengths that contribute to its success in the travel industry. Firstly, the company has a strong brand reputation and a long-standing history in the expedition travel segment. This is further enhanced by its partnership with National Geographic, a well-established and globally recognized organization. This association adds credibility and attracts a niche audience seeking authentic and educational travel experiences.
- Another strength is Lindblad Expeditions' focus on sustainable and responsible travel practices. The company prioritizes environmental conservation, reducing its ecological footprint, and promoting awareness among its staff and passengers. This commitment sets it apart from competitors and appeals to environmentally conscious travelers who value ethical tourism.
Weaknesses
- Despite its strengths, Lindblad Expeditions faces certain weaknesses that could impact its performance. One key weakness is its relatively small fleet of ships compared to larger cruise companies. This limits its capacity and potentially reduces its economies of scale. The company's limited reach may put it at a disadvantage when it comes to negotiating favorable deals with suppliers and may make it harder to expand its market share.
- Additionally, Lindblad Expeditions heavily relies on partnerships and agreements, such as its exclusive partnership with National Geographic. While these partnerships enhance its reputation, they also introduce a level of dependency on third parties and their branding. Any negative impact on the reputation of these partners could consequently affect Lindblad Expeditions' own image and bookings.
Opportunities
- Lindblad Expeditions has various opportunities for growth and expansion within the travel industry. Firstly, there is an increasing trend among consumers to seek unique and immersive travel experiences. This plays to the company's strengths in offering expedition travel with a focus on education and environmental conservation. By capitalizing on this trend, Lindblad Expeditions can attract new customers and increase its market share.
- Another opportunity lies in the growing demand for adventure tourism. As more travelers seek thrilling and off-the-beaten-path experiences, Lindblad Expeditions can further develop its itineraries and offerings to cater to this market. This could involve exploring lesser-known destinations, introducing new activities, and expanding its fleet to accommodate higher demand.
Threats
- Lindblad Expeditions faces several threats that could impact its business operations and profitability. One significant threat is the increasing competition within the expedition travel sector. As more companies enter the market, Lindblad Expeditions' market share may be eroded. It must continuously innovate, maintain its unique selling points, and differentiate itself from rivals by focusing on its strong brand reputation and commitment to sustainability.
- External factors such as geopolitical instability, natural disasters, or outbreaks of diseases can also pose threats to the company's operations. These events can disrupt travel plans, lead to cancellations, and adversely impact Lindblad Expeditions' financial performance. The company needs to have robust contingency plans in place to mitigate such risks and ensure business continuity.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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