Lindblad Expeditions Holdings, Inc. Overview
Pro stress-test →Lindblad Expeditions is a leader in global expedition travel, offering immersive, educational journeys that span all seven continents through its six pioneering brands, leading travelers to the farthest reaches of the world with an expansive portfolio of ship- and land-based expeditions. In collaboration with National Geographic, Lindblad operates the National Geographic-Lindblad Expeditions co-brand, which offers ship-based voyages with state-of-the-art exploration tools.
Strategic Profile
Pro stress-test →In Q1 2026, the company achieved record 93% occupancy (highest in company history), revenue of $208.0 million (+16% YoY), and Adjusted EBITDA of $34.8 million (+16% YoY). The company is strategically investing in fleet maintenance, marketing, and an expanded Disney partnership, while the Land Experiences segment is scaling through recent acquisitions that diversify revenue and reduce seasonal volatility.
Competitive Landscape
Pro stress-test →Lindblad operates in the small-ship adventure cruise segment focused on experiential tourism, often partnering with National Geographic and targeting high-end travelers. The company competes with other luxury cruise operators and adventure travel providers, differentiated by premium positioning, expedition expertise, and the National Geographic brand partnership. Land-based offerings expand the competitive set into broader experiential travel.
Industry Context
Lindblad Expeditions Holdings, Inc. operates in Luxury expedition cruise tourism.
Key facts
Headquarters: New York, US · Revenue: $208.0M (Q1 2026) · Market cap: $1.21B