Lindblad Expeditions Announces Strong Third Quarter Results

Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) released its financial results for the third quarter ending September 30, 2024. The company reported a record-setting quarter, with notable achievements in revenue, gross profit, and marketplace growth.

The company’s marketplace revenue for the third quarter totaled $127 million, marking a 24% year-over-year increase. Lindblad Expeditions experienced robust growth in Marketplace Active Buyers, which rose by 24% from the previous year. Additionally, Marketplace Accounts with Last Twelve-Month Spend of at least $50,000 saw a 23% increase from the same period in 2023. However, Supplier services revenue for the quarter decreased by 10% due primarily to the discontinuation of non-core services.

Despite the decrease in Supplier services revenue, Lindblad Expeditions reported a gross profit of $42.6 million for the quarter, an impressive 34% increase from the previous year. The company’s focus on expanding their global supplier base, enhancing marketplace offerings, and improving buyer and supplier networks contributed to this growth.

Financially, the company reported a net loss of $10.2 million for the quarter, which represents a decrease of $1.8 million compared to the same period in 2023. Adjusted EBITDA showed improvement, with a loss of $0.6 million, an 85% year-over-year improvement.

In other business highlights, Lindblad Expeditions expanded their US and European marketplace offerings, added new suppliers, and appointed Roy Azevedo to the Board of Directors. These strategic moves aim to drive further growth and enhance the company’s services globally.

Looking ahead, the company provided financial guidance for the fourth quarter of 2024, with revenue expected to range between $145 million to $147 million. Lindblad Expeditions anticipates being slightly Adjusted EBITDA profitable in the upcoming quarter.

These results show Lindblad Expeditions’ strong performance and strategic initiatives positioning the company for continued growth and success in the future. The company’s dedication to enhancing its marketplace offerings and expanding its global presence reflects a commitment to delivering value to both buyers and suppliers.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Lindblad Expeditions’s 8K filing here.

About Lindblad Expeditions

Lindblad Expeditions Holdings, Inc provides marine expedition adventures and travel experience worldwide. It operates through Lindblad and Land Experiences segment. Lindblad segment provides ship-based expeditions aboard customized, nimble, and intimately-scaled vessels, which offers up-close experiences in the planet's wild and remote places, and capitals of culture; and offers expedition ship which is equipped with state-of-the-art tools for in-depth exploration with infrastructure and ports, such as Antarctica and the Arctic, and places that accessed by a ship comprising Galápagos Islands, Alaska, Baja California's Sea of Cortez and Panama, and foster engagement activities.