About Lindblad Expeditions Holdings, Inc.: Lindblad Expeditions Holdings, Inc. is an expedition travel company that focuses on ship-based voyages through its Lindblad Expeditions brand and land-based travel through its subsidiaries, Natural Habitat, Inc. ("Natural Habitat"), Off the Beaten Path LLC ("Off the Beaten Path"), DuVine Cycling + Adventure Co. ("DuVine") and Classic Journeys, LLC ("Classic Journeys"). Off the Beaten Path is an outdoor, active travel company offering guided small group adventures a ...

The summer travel boom has extended to the high seas, and several cruise stocks to buy now are sailing higher on investors' radars. After a slow post-pandemic recovery, travel numbers have peaked at an all-time high. The Transportation Security Administration (TSA) screened a record 3 million passengers in a single day earlier this month. This revival in travel demand is felt across the board, with cruise companies experiencing a strong comeback this year. The number of cruise line passengers jumped from 20 ...

NEW YORK, July 18, 2024 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad Expeditions"), recognized global leader of adventure travel and the pioneer of modern expedition cruising, today announced that its Board of Directors has appointed Annette Reavis, innovative people leader, and Andrew "Andy" Stuart, celebrated cruise industry executive, as two new independent directors. With these appointments, the Lindblad Expeditions Board will increase from 10 to 11 direc ...

Lindblad Expeditions Holdings, Inc. (LIND) , a global leader in adventure travel and pioneer of modern expedition cruising, announced a significant expansion in its core Galápagos market. The company is set to add two purpose-built Galápagos expedition vessels to its fleet, enhancing its capacity to deliver immersive, responsible exploration experiences. Sven-Olof Lindblad, founder and CEO of Lindblad Expeditions, emphasized the privilege and responsibility of operating in the Galápagos Islands. The new ves ...

Lindblad Expeditions is the Longest-Standing International Operator in the Galápagos, Since Pioneering Expedition Cruising in the Region Together with Legendary Ecuadorian Eduardo Proaño in 1967 The first of the two new ships is a 48-guest configuration and features two unique dining venues and 24 outward-facing cabins, including 13 balcony suites. Later this month, bookings will open for sale and the names of the two ships will be revealed. The second vessel is a 16-guest, eight-cabin catamaran perfect for ...

PART I. FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=3&type=section&id=ITEM%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for the quarter ended March 31, 2024, providing a comprehensive overview of the company's financial position and performance [Notes to the Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) These notes detail the company's business segments, accounting policies, debt, and significant post-quarter events - The company operates two reportable business segments: - **Lindblad Segment:** Primarily provides ship-based expeditions on a fleet of ten owned and six chartered vessels - **Land Experiences Segment:** Includes four land-based brands: Natural Habitat, DuVine, Off the Beaten Path, and Classic Journeys[25](index=25&type=chunk)[26](index=26&type=chunk) Segment Financial Performance (Three Months Ended March 31) | Segment | Tour Revenues 2024 (in thousands) | Tour Revenues 2023 (in thousands) | Operating Income 2024 (in thousands) | Operating Income 2023 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Lindblad | $118,303 | $115,498 | $7,783 | $12,118 | | Land Experiences | $35,311 | $27,897 | $67 | $348 | | **Total** | **$153,614** | **$143,395** | **$7,850** | **$12,466** | - As of March 31, 2024, the company had **$290.8 million** in unearned passenger revenue, up from **$252.2 million** at year-end 2023, reflecting strong future bookings[38](index=38&type=chunk) - Subsequent to the quarter's end, in April 2024, the company increased its ownership in Natural Habitat to **90.1%** for **$15.2 million** and in DuVine to **75%** for **$1.5 million**, also announcing an agreement to acquire Wineland-Thomson Adventures for approximately **$30 million** in cash and stock[70](index=70&type=chunk)[71](index=71&type=chunk) Condensed Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $177,719 | $156,845 | | Total current assets | $286,564 | $244,502 | | Total assets | $868,038 | $831,297 | | **Liabilities & Equity** | | | | Unearned passenger revenues | $290,790 | $252,199 | | Total current liabilities | $357,555 | $319,224 | | Long-term debt, less current portion | $622,676 | $621,778 | | Total liabilities | $984,491 | $945,063 | | Total stockholders' deficit | $(227,399) | $(225,064) | Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended Mar 31, 2024 (in thousands) | Three Months Ended Mar 31, 2023 (in thousands) | | :--- | :--- | :--- | | Tour revenues | $153,614 | $143,395 | | Operating income | $7,850 | $12,466 | | Net (loss) income | $(4,210) | $778 | | Net loss available to stockholders | $(5,115) | $(448) | | Basic & Diluted EPS | $(0.10) | $(0.01) | Condensed Consolidated Statements of Cash Flows (Unaudited) | Cash Flow Activity | Three Months Ended Mar 31, 2024 (in thousands) | Three Months Ended Mar 31, 2023 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $43,916 | $2,058 | | Net cash (used in) provided by investing activities | $(6,468) | $8,738 | | Net cash used in financing activities | $(622) | $(6,096) | | **Net increase in cash, cash equivalents and restricted cash** | **$36,826** | **$4,700** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=ITEM%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, highlighting revenue growth, operating income decline, and liquidity position [Business Overview and 2024 Highlights](index=20&type=section&id=Business%20Overview%20and%202024%20Highlights) This section provides an overview of the company's adventure travel business, highlighting strategic developments and booking trends - In April 2024, the company increased its ownership of Natural Habitat to **90.1%** for **$15.2 million** and its ownership of DuVine to **75%** for **$1.5 million**[86](index=86&type=chunk) - An agreement was announced in April 2024 to acquire Wineland-Thomson Adventures, a Tanzania safari operator, for approximately **$30.0 million** in cash and stock, pending regulatory approval[87](index=87&type=chunk) - Bookings for the full year 2024 are **4%** ahead of bookings for 2024 at the same point in 2023[88](index=88&type=chunk) [Results of Operations — Consolidated](index=23&type=section&id=Results%20of%20Operations%20%E2%80%94%20Consolidated) Consolidated tour revenues increased in Q1 2024, but rising expenses led to a significant decline in operating income and a net loss Consolidated Results of Operations (Three Months Ended March 31) | Metric (in thousands) | 2024 | 2023 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Tour revenues | $153,614 | $143,395 | $10,219 | 7% | | Cost of tours | $79,302 | $72,050 | $7,252 | 10% | | General and administrative | $32,387 | $26,419 | $5,968 | 23% | | Selling and marketing | $22,758 | $20,652 | $2,106 | 10% | | Operating income | $7,850 | $12,466 | $(4,616) | (37)% | | Net (loss) income | $(4,210) | $778 | $(4,988) | NM | - The **23%** increase in General and Administrative expenses was primarily driven by higher personnel costs, increased IT costs following a digital infrastructure launch, and higher credit card commissions from strong bookings[113](index=113&type=chunk) [Results of Operations — Segments](index=25&type=section&id=Results%20of%20Operations%20%E2%80%94%20Segments) Segment results for Q1 2024 show revenue growth in both segments, but operating income declined due to higher costs and lower Lindblad occupancy Segment Performance Summary (Three Months Ended March 31) | Metric (in thousands) | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | **Lindblad Segment** | | | | | Tour Revenues | $118,303 | $115,498 | 2% | | Operating Income | $7,783 | $12,118 | (36)% | | Adjusted EBITDA | $20,472 | $26,083 | (22)% | | **Land Experiences Segment** | | | | | Tour Revenues | $35,311 | $27,897 | 27% | | Operating Income | $67 | $348 | (81)% | | Adjusted EBITDA | $1,134 | $1,103 | 3% | Lindblad Segment Guest Metrics (Q1) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Occupancy | 76% | 81% | | Net Yield per Available Guest Night | $1,219 | $1,205 | | Adjusted Net Cruise Cost per Available Guest Night | $981 | $891 | [Liquidity and Capital Resources](index=28&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity position is strong as of March 31, 2024, with operating cash flow significantly increasing from unearned passenger revenue - The company held **$177.7 million** in unrestricted cash and cash equivalents and **$46.5 million** in restricted cash as of March 31, 2024[129](index=129&type=chunk) - Total long-term debt obligations stood at **$635.1 million** as of March 31, 2024[130](index=130&type=chunk) - Net cash provided by operating activities increased by **$41.8 million** to **$43.9 million** in Q1 2024, primarily due to a significant increase in cash received from guests for future travel[131](index=131&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=29&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's market risk exposure, primarily from interest rates on its revolving credit facility, remains materially unchanged from the 2023 Annual Report - There have been no material changes in the company's exposure to market risks since the 2023 Annual Report, with the primary exposure being interest rate risk on the revolving credit facility, which had no balance outstanding[143](index=143&type=chunk) [Controls and Procedures](index=30&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were effective as of March 31, 2024[144](index=144&type=chunk) - No changes occurred in internal control over financial reporting during the quarter that materially affected, or are reasonably likely to materially affect, internal controls[145](index=145&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=30&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is involved in various legal actions arising in the ordinary course of business and maintains insurance coverage for potential damages - The company is involved in various claims and legal actions arising from the ordinary course of business and has insurance coverage for potential damages[146](index=146&type=chunk) [Risk Factors](index=30&type=section&id=ITEM%201A.%20Risk%20Factors) This section refers investors to the detailed discussion of risks and uncertainties in the 'Risk Factors' section of the 2023 Annual Report on Form 10-K - For a discussion of risks that could materially affect the business, the report refers to the 'Risk Factors' section in the 2023 Annual Report[147](index=147&type=chunk) [Unregistered Sale of Equity Securities and Use of Proceeds](index=30&type=section&id=ITEM%202.%20Unregistered%20Sale%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities in Q1 2024, with $12.0 million remaining under its stock and warrant repurchase plan - There were no unregistered sales of equity securities during the quarter ended March 31, 2024[148](index=148&type=chunk) - As of March 31, 2024, the remaining balance for the company's stock and warrant Repurchase Plan was **$12.0 million**[149](index=149&type=chunk) [Other Information](index=31&type=section&id=ITEM%205.%20Other%20Information) No director or Section 16 officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during Q1 2024 - No director or Section 16 officer adopted or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the three months ended March 31, 2024[154](index=154&type=chunk)

Lindblad Expeditions (LIND) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -150%. A quarter ago, it was expected that this company would post a loss of $0.30 per share when it actually produced a loss of $0.53, delivering a surprise of -76.67%.Over the last four quarters, the company has sur ...

First Quarter 2024 Highlights: Total revenue increased 7% to $153.6 million  Lindblad segment available guest nights increased 3%  Lindblad segment net yield per available guest night increased 1% to $1,219 with higher pricing and occupancy of 76%  Strong reservations for future travel with bookings for 2024 4% ahead of bookings for 2023 at the same point a year ago and well over 20% ahead excluding carryover bookings in 2023  Following the quarter further expanded land-based portfolio with the announced a ...

Revenue Performance - First quarter tour revenues increased by 7% to $153.6 million, driven by a $2.8 million increase in the Lindblad segment and a $7.4 million increase in the Land Experiences segment [4]. - Total tour revenues for Q1 2024 were $153.6 million, an increase of 7.6% compared to $143.4 million in Q1 2023 [34]. - For the full year 2024, the company expects tour revenues between $610 million and $630 million [23]. - Bookings for 2024 are 4% ahead of the same point in 2023, with 94% of projected guest ticket revenues already on the books [18]. Financial Performance - The company reported a net loss of $5.1 million, or $0.10 per diluted share, compared to a net loss of $0.4 million, or $0.01 per diluted share, in the same quarter of 2023 [8]. - Operating income decreased to $7.9 million in Q1 2024 from $12.5 million in Q1 2023, reflecting a decline of 36.5% [34]. - Net loss attributable to Lindblad Expeditions Holdings, Inc. was $4.0 million in Q1 2024, compared to a net income of $0.6 million in Q1 2023 [34]. - Adjusted EBITDA for the first quarter decreased by 21% to $21.6 million, with a significant decline of $5.6 million in the Lindblad segment [9]. - Adjusted EBITDA for Q1 2024 was $21.6 million, down 20.6% from $27.2 million in Q1 2023 [37]. - Free Cash Flow turned positive at $37,448,000 in Q1 2024 compared to a negative $4,367,000 in Q1 2023 [40]. Cash and Debt Management - As of March 31, 2024, the company had cash and cash equivalents of $224.2 million, an increase from $187.3 million at the end of 2023 [16]. - Total debt as of March 31, 2024, was $635.1 million, with compliance to all applicable debt covenants [17]. - Cash and cash equivalents increased to $177.7 million as of March 31, 2024, compared to $156.8 million as of December 31, 2023 [32]. - Total current assets rose to $286.6 million as of March 31, 2024, up from $244.5 million as of December 31, 2023 [32]. - Total liabilities increased to $984.5 million as of March 31, 2024, from $945.1 million as of December 31, 2023 [32]. Operational Metrics - Available Guest Nights rose to 85,954 in Q1 2024, up from 83,184 in Q1 2023, while Guest Nights Sold decreased to 64,963 from 67,057 [40]. - Occupancy rate declined to 76% in Q1 2024 from 81% in Q1 2023 [40]. - Gross Yield per Available Guest Night slightly decreased to $1,376 in Q1 2024 from $1,388 in Q1 2023, while Net Yield per Available Guest Night increased to $1,219 from $1,205 [40]. - Adjusted Net Cruise Cost per Available Guest Night increased to $981 in Q1 2024 from $891 in Q1 2023 [42]. - The number of voyages completed increased to 122 in Q1 2024 from 113 in Q1 2023 [40]. - The maximum guest capacity increased to 9,714 in Q1 2024 from 8,990 in Q1 2023 [40]. Strategic Initiatives - The company announced the acquisition of Wineland-Thomson Adventures for approximately $30 million, expected to close after regulatory approvals in Tanzania [15]. - The company anticipates continued growth in tour revenues and plans to focus on expanding its market presence and enhancing customer experiences [30]. - The company has a $35 million stock repurchase plan, with $12 million remaining as of April 29, 2024 [19].

ST. GALLEN, Switzerland, April 25, 2024 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ:SRAD)("Sportradar" or the "Company") today announced that Craig Felenstein has been named Chief Financial Officer of the Company, effective June 1, 2024. Felenstein joins the Company from Lindblad Expeditions (NASDAQ:LIND) where he most recently served as Chief Financial Officer. He will report directly to Sportradar Chief Executive Officer Carsten Koerl. Felenstein brings nearly 30 years of senior finance and operating ...