Viking Holdings (VIK) Q2 2025 Earnings Call August 19, 2025 08:00 AM ET Speaker0Good morning. My name is Paul, and I will be your conference operator today. At this time, I would like to welcome everyone to Viking's Second Quarter twenty twenty five Earnings Conference Call. As a reminder, this call is being recorded. All lines have been placed on mute to prevent any background noise.After the speakers' remarks, there will be a question and answer session. Thank you. I would now like to turn the program to ...

Lindblad Expeditions (LIND) Q2 2025 Earnings Call August 04, 2025 08:30 AM ET Speaker0Hello, and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would like to welcome everyone to the Lindblad Expeditions Second Quarter twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer the there be question I would now like to turn the conf ...

Financial Data and Key Metrics Changes - Total company revenue for Q1 2025 was $180 million, an increase of $26 million or 17% compared to Q1 2024 [19] - Adjusted EBITDA increased by 39% to $30 million, with margins improving by 260 basis points [7][20] - Net income improved by $5.2 million to $1 million, with income available to stockholders roughly breakeven at $0.00 per diluted share [23] Business Line Data and Key Metrics Changes - Lindblad segment revenues were $131 million, an increase of $13 million or 11% compared to the prior year [20] - Land experiences revenues were $49 million, an increase of $13 million or 38% compared to Q1 2024, driven by increased trips and higher revenue per guest [20] - Net yields increased by 25% to $1,521, the highest quarterly net yield in the company's history [7][20] Market Data and Key Metrics Changes - Occupancy increased by 13 percentage points from 76% to 89% compared to the prior year [20] - Bookings for 2025 and 2026 are tracking ahead of the prior year in both segments [7][35] Company Strategy and Development Direction - The company focuses on maximizing revenue generation, optimizing financial performance, and exploring accretive growth opportunities [9] - Strategic initiatives include a partnership with Disney and international expansion efforts, particularly in the UK [12][14] - The company aims to enhance financial transparency and has introduced net yield expectations for 2025, expecting growth of 7% to 10% [15][26] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the demand for experiential travel despite economic volatility [8] - The company is closely monitoring the macroeconomic environment and has seen fluctuations in bookings, particularly in April [35] - Future guidance reaffirms total company tour revenue between $700 million and $750 million for the year [26] Other Important Information - The company completed the purchase of two expedition vessels, enhancing its fleet [19] - A new dynamic pricing strategy has been implemented to better manage pricing based on demand [41] - The company is committed to sustainability and community impact through various initiatives [16][18] Q&A Session Summary Question: What drove the strong occupancy in the quarter? - Management indicated that the strong occupancy was due to a combination of expanded audience from the Disney partnership, charter businesses, and a stronger revenue management strategy [31] Question: How has the current booking environment been affected by macroeconomic factors? - Management noted that bookings for 2025 and 2026 remain ahead of the prior year, but April bookings were less consistent [35] Question: What is the status of dynamic pricing implementation? - Management confirmed that dynamic pricing has been initiated and is expected to enhance flexibility in pricing based on demand [41] Question: How is the company performing in terms of the Antarctica program? - Management reported that the Antarctica program is performing extremely well, with high demand and nearly sold out for 2026 [44]

Financial Data and Key Metrics Changes - Total company revenue for Q1 2025 was $180 million, an increase of $26 million or 17% compared to Q1 2024 [18] - Adjusted EBITDA increased by $8.4 million or 39% year-over-year, reaching $30 million [19] - Net income improved by $5.2 million to $1 million, with income available to stockholders approximately breakeven at $0.00 per diluted share [22] Business Line Data and Key Metrics Changes - Lindblad segment revenues were $131 million, an increase of $13 million or 11% compared to the prior year [19] - Land experiences revenues were $49 million, an increase of $13 million or 38% compared to Q1 2024, driven by increased trips and the acquisition of Wyneland Thompson Adventures [19] - Occupancy increased by 13 percentage points from 76% to 89%, with net yield per available guest night increasing by 25% to $1,521, the highest in company history [19][6] Market Data and Key Metrics Changes - Bookings for 2025 and 2026 are tracking ahead of the prior year in both segments, indicating strong demand despite macroeconomic challenges [6][34] - The company is seeing positive momentum in bookings, particularly in the last couple of weeks, although April bookings were less consistent [34] Company Strategy and Development Direction - The company focuses on three strategic pillars: maximizing revenue generation, optimizing financial performance, and exploring accretive growth opportunities [8] - The company is enhancing its financial transparency practices and introducing net yield expectations for 2025, expecting a growth of 7% to 10% [14][25] - The company is committed to sustainability, which is central to its mission, and is actively involved in community initiatives [15][16] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about the future, with bookings for 2025 and 2026 ahead of prior year levels [34] - The company acknowledges the complex macroeconomic environment but believes it is well-positioned due to its focus on experiential travel for high-income demographics [7][34] Other Important Information - The company completed the purchase of two expedition vessels, enhancing its fleet capacity [18] - The company is expanding its international presence, particularly in the UK, to tap into the growing adventure travel market [11] Q&A Session Summary Question: What drove the strong occupancy in the quarter? - Management indicated that the strong occupancy was due to a combination of expanded audience from the Disney partnership, charter businesses, and a stronger revenue management strategy [30] Question: How has the current booking environment been affected by macroeconomic factors? - Management noted that while April bookings were less consistent, there has been positive momentum in recent weeks, and bookings for 2025 and 2026 remain ahead of prior year [34] Question: How did capacity adjustments impact yields? - Management explained that lower capacity due to drydocks allowed for higher occupancy growth, supported by demand generation activities [38] Question: What is the status of dynamic pricing implementation? - Management confirmed that dynamic pricing strategies have been initiated, allowing for more flexible pricing based on demand [40] Question: How is the fly cruise program performing? - Management reported that the fly cruise program is in high demand and is practically sold out for 2026, with increased capacity planned for 2027 [43]