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represents Net Cruise Cost adjusted for Non-GAAP other supplemental adjustments which include certain non-operating items such as stock-based compensation, the National Geographic fee amortization and acquisition-related expenses. NEW YORK, Feb. 8, 2022 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) ("Lindblad"; the "Company"), a global provider of expedition cruises and adventure travel. There are no specific rules or regulations for determining non-GAAP measures, and as such, they may not be comparable to measures used by other companies within the industry. Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Some of these measures are commonly used in the cruise and tourism industry to evaluate performance. The National Geographic Resolution is scheduled for delivery in the fourth quarter of 2021 and will join her sister ship the National Geographic Endurance, as well as the National Geographic Explorer and the National Geographic Orion to dramatically increase the polar capacity of the Company. We also record the number of guest nights available on our limited land programs in this definition. As the Company continues to ramp up operations, its monthly cash usage will increase as the Company incurs costs in operating expeditions, prepares additional ships for return to service and spends to advertise upcoming expeditions and trips. Undistributed loss per share available to stockholders: Condensed Consolidated Statements of Cash Flows. Our use of Adjusted EBITDA may not be comparable to other companies within the industry. Adjusted EBITDA is not intended to be a measure of liquidity or cash flows from operations or a measure comparable to net income as it does not take into account certain requirements, such as unearned passenger revenues, capital expenditures and related depreciation, principal and interest payments, and tax payments. In connection with the amendment, the interest rate of the term loan has been increased by 125bps, to be paid-in-kind at maturity, a LIBOR floor of 75bps has been added to each facility and certain covenants have been amended to be more restrictive. At the same time, our land businesses have also swiftly returned to operations and the strategic investments we have made to expand our product offerings is already resulting in positive earnings contributions from these businesses. Other supplemental adjustments include certain non-operating items such as stock-based compensation, executive severance costs, the National Geographic fee amortization, debt refinancing costs,acquisition-related expenses and other non-recurring charges. Lindblad Expeditions Holdings Inc LIND Stock Quote Morningstar Rating | Rating as of Jul 14, 2023 Quote Chart Stock Analysis News Price vs Fair Value Sustainability Trailing Returns Financials. However, there can be no assurance that cash flows from operations will be available to fund future obligations or that it will not experience delays or cancellations with respect to the resumption of our operations. All Rights Reserved. Skip to main content Call +1.800.397.3348 or contact your travel advisor Sign In Find Dates & Rates Destinations Browse by Destinations All special offers Africa Alaska Amazon Antarctica Arctic Atlantic Isles Australia and New Zealand Baja California Belize & Guatemala Lindblad Expeditions and the Eye are the trademarks of Lindblad Expeditions, LLC. The Company has not previously experienced a complete cessation of its operations and, as a consequence, its ability to predict the impact of such cessation on its costs and future prospects is limited. First quarter Adjusted EBITDA loss of $20.8 million decreased $31.4 million as compared to the same period in 2020. Gross Cruise Costrepresents the sum of cost of tours plus selling and marketing expenses, and general and administrative expenses. represents Net Yield divided by Available Guest Nights. represents the number of guests carried for the period multiplied by the number of nights sailed within the period. Bookings for the second half of 2022 are 50% ahead of the bookings for the second half of 2019, and bookings for 2023 are 32% ahead of the bookings for the full year 2020 at the same point in 2019, which was prior to the pandemic. ", RAMP OF FLEET OPERATIONS AND COVID-19 BUSINESS UPDATE. DuVine's diverse tour offerings include small group and private custom trips to destinations across Europe, the United States, Latin America, Asia and Africa. Based on the actions taken to date by the Company, its planned and anticipated actions and its current forecast, the Company believes that it can meet its obligations for the next 12 months. Dolf Berle CEO Read more Trey Byus Chief Expedition Officer Read more Dr. David Lorber Chief Medical Officer Read More About Lindblad Expeditions Holdings, Inc. NEW YORK, May 3, 2023 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad"), a global provider of expedition cruises and adventure travel. Lindblad Expeditions Holdings, Inc. Reports 2022 First Quarter represents the sum of cost of tours plus selling and marketing expenses, and general and administrative expenses. Lindblad's fleet of expedition ships sailing to exciting destinations. There may be additional risks that we consider immaterial or which are unknown. Guest Nights Sold is calculated by dividing Guest Nights Sold by Available Guest Nights. It is not possible to predict or identify all such risks. Proceeds from the senior secured noteswere used primarily to pay the outstanding borrowings under the Company's previously existing credit agreement, including the term facility, Main Street Loan and revolving credit facility. LINDBLAD EXPEDITIONS HOLDINGS, INC. AND SUBSIDIARIES, (In thousands, except share and per share data), Prepaid expenses and other current assets, Series A redeemable convertible preferred stock, 165,000 shares authorized; 85,000 shares issued and, outstanding as of March 31, 2021 and December 31, 2020, respectively, Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 85,000 Series A shares issued and outstanding as of, Common stock, $0.0001 par value, 200,000,000 shares authorized; 50,126,926 and 49,905,512 issued, 50,058,718 and, 49,818,676 outstanding as of March 31, 2021 and December 31, 2020, respectively, Total liabilities, mezzanine equity and stockholders' equity, Condensed Consolidated Statements of Operations, Net loss attributable to noncontrolling interest. The Company has also accessed available capital under existing debt facilities and through the issuance of preferred stock, while continuing to explore additional sources of capital and liquidity. LINDBLAD EXPEDITIONS HOLDINGS, INC. AND SUBSIDIARIES, (In thousands, except share and per share data), Prepaid expenses and other current assets, Series A redeemable convertible preferred stock, 165,000 shares authorized; 62,000 and 80,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively, Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 62,000 and 80,000 Series A shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively, Common stock, $0.0001 par value, 200,000,000 shares authorized; 53,064,077 and 50,800,786 issued, 53,018,837 and 50,755,546 outstanding as of June 30, 2022 and December 31, 2021, respectively, Total liabilities, mezzanine equity and stockholders' deficit, Condensed Consolidated Statements of Operations, Net income (loss) attributable to noncontrolling interest. The Company is also continuing to expand its fleet capacity to further capitalize on the demand for high quality adventure travel and broaden the immersive and authentic itineraries it has to offer itsguests. Lindblad segment Adjusted EBITDA loss of $21.0 million was $3.0 million greater than 2021, as increased tour revenues were more than offset by higher cost of tours and increased personnel costs related to the ramp in operations, increased commissions related to the revenue and bookings growth and higher marketing spend to drive future growth. Activities, Net cash provided by operating activities, Less: purchases of property and equipment, Calculation of Gross and Net Yield per Available Guest Night, (In thousands, except for Available Guest Nights,Gross and Net Cruise cost Per Available Guest Night and guest metrics), Gross Cruise Cost per Available Guest Night, Net Cruise Cost per Available Guest Night, Net Cruise Cost Excluding Fuel per Available Guest Night, Adjusted Net Cruise Cost Excluding Fuel per Available Guest Night, Adjusted Net Cruise Cost per Available Guest Night. The most notable is the size of its owned and operated vessels which range from 48 to 148 passengers, allowing for a highly controlled environment that includes stringent cleaning protocols. By signing up you agree to receive content from us. represents Net Cruise Cost excluding fuel costs. Many of these risks and uncertainties are currently amplified by, and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. Land Experiences segment Adjusted EBITDA loss of $2.9 million decreased $3.4million versus the first quarter a year ago primarily due to the lower revenue as a result of COVID-19, partially offset by lower operating costs due to rescheduled departures and a reduction in marketing and personnel spend. Russian Far East. Gross Cruise Cost Classic Journeys is a luxury cultural walking tour company that operates a portfolio of curated tours centered around cinematic walks led by expert local guides. The small nature of the Company's ships also allows it to efficiently and effectively test its guests and crew prior to boarding, or as otherwise needed. Natural Habitat's adventures include polar bear tours in Churchill, Canada, Alaskan grizzly bear adventures and African safaris. The earnings release and a live audio webcast of the call will be available in the investor relations section of the Company's website at investors.expeditions.com. LINDBLAD EXPEDITIONS HOLDINGS, INC. AND SUBSIDIARIES, (In thousands, except share and per share data), Prepaid expenses and other current assets, Series A redeemable convertible preferred stock, 165,000 shares authorized; 80,000 shares issued andoutstanding as of March 31, 2022 and December 31, 2021, respectively, Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 80,000 Series A shares issued and outstanding as ofMarch 31, 2022 and December 31, 2021, respectively, Common stock, $0.0001 par value, 200,000,000 shares authorized; 50,933,471 and 50,800,786 issued, 50,888,231 and50,755,546 outstanding as of March 31, 2022 and December 31, 2021, respectively, Total liabilities, mezzanine equity and stockholders' deficit, Condensed Consolidated Statements of Operations, Net loss attributable to noncontrolling interest. As of April 27, 2021, there were 50.1 million shares common stock outstanding. Similarly, statements that describe the Company's financial guidance or future plans, objectives or goals are also forward-looking statements. The earnings release and a live audio webcast of the call will be available in the investor relations section of the Company's website at investors.expeditions.com. Both DuVine and Off the Beaten Path have been operating trips during COVID and are currently experiencing strong levels of bookings for future travel. As of April 25, 2022, the Company had repurchased 875,218 shares and 6.0 million warrants under the plan for a total of $23.0 million and had $12.0 million remaining under the plan. As of July 25, 2022, the Company had repurchased 875,218 shares and 6.0 million warrants under the plan for a total of $23.0 million and had $12.0 million remaining under the plan. Many of these risks and uncertainties are currently amplified by, and will continue to be amplified by, or in the future may be amplified by, the COVID-19 pandemic. 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 on land-based travel through its subsidiaries, Natural Habitat Adventures, Off the Beaten Path, DuVine and Classic Journeys. During August 2020, the Company amended its term loan and revolving credit facilities to waive the application of the total net leverage ratio covenant through June 2021. DuVine's proven track record in delivering high-end small group cycling experiences, along with the meaningfully increased accessibility that the evolution of the e-bike provides, ideally situates them to further capitalize on this growing opportunity both immediately coming out of the pandemic and over the long-term. The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Making a Difference | Sustainability and - Lindblad Expeditions represents Net Cruise Cost excluding fuel costs. As the Company implements plans to resume operations, the monthly cash usage will increase as it incurs costs in preparation for returning ships to service, spends to market and advertise upcoming expeditions and reinstates furloughed and part-time office staff as needed. DuVine also currently runs a variety of extraordinary trips that combine sailing and biking experiences, which will be further expanded as part of Lindblad. Similarly, statements that describe the Company's financial guidance or future plans, objectives or goals are also forward-looking statements. Investor Relations Overview News Events & Presentations Stock Information Analyst Coverage Financials Governance Resources ESG Overview Improving Public Health Marketing and Youth Access Environmental Social Governance Careers Contact Us The IR section provides the latest news about company performance. A replay of the call will be available at the Company's investor relations website, investors.expeditions.com. https://www.prnewswire.com/news-releases/lindblad-expeditions-holdings-inc-reports-2022-first-quarter-financial-results-301538045.html, Operated nine of ten owned and operated ships providing expeditions across Antarctica, Baja California's Sea of Cortez, Bahamas, Belize, Costa Rica and Panama, and the Galpagos, Strong reservations for future travel with bookings for the second half of 2022 50% ahead of bookings for the second half of 2019 and bookings for 2023 32% ahead of bookings for 2020 at the same point in 2019, Further increased financial flexibility with refinancing of existing term loan and revolving credit facilities through issuance of new senior secured notes, Solidified operating rights in the Galapagos Islands with extension of existing cupos for an additional 20-year period. During May 2020, the Company amended its $2.5 million promissory note, changing the maturity date of the principal payments to be due in three equal installments, with the first payment was made on December 22, 2020, the second due on December 22, 2021 and the final payment due on December 22, 2022. Beginning in March 2020, the Company suspended all stock repurchases given the uncertainty surrounding COVID-19, and it remains suspended due to restrictions related to the Main Street Expanded Loan Facility program. Lindblad Expeditions and the Eye are the trademarks of Lindblad Expeditions, LLC. View original content to download multimedia:https://www.prnewswire.com/news-releases/lindblad-expeditions-holdings-inc-reports-2022-second-quarter-financial-results-301596584.html. Lindblad Expeditions Holdings, Inc. Reports 2022 Second Quarter Site Map - Expeditions Lindblad Expeditions Holdings, Inc. to Report 2022 Fourth Quarter and Lindblad Expeditions Holdings, Inc. (LIND) CEO Sven-Olof Lindblad on Q4 About Lindblad Expeditions Holdings, Inc. Lindblad Expeditions Holdings, Inc. is an expedition travel company that focuses on ship-based voyages through its Lindblad brand and on land-based travel through its subsidiaries, Natural Habitat, Off the Beaten Path and DuVine. SOURCE Lindblad Expeditions Holdings, Inc. Lindblad Expeditions Holdings, Inc. Reports 2022 First Quarter Financial Results, Series A redeemable convertible preferred stock, 165,000 shares authorized; 80,000 shares issued and, Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 80,000 Series A shares issued and outstanding as of, Common stock, $0.0001 par value, 200,000,000 shares authorized; 50,933,471 and 50,800,786 issued, 50,888,231 and. represents the number of guests that travel with us in a period. Investor Relations | Lindblad Expeditions Lindblad Expeditions works in partnership with National Geographic to inspire people to explore and care about the planet. The definitions of non-GAAP financial measures along with a reconciliation of non-GAAP financial information to GAAP are included in the supplemental financial schedules. More detailed information about factors that may affect the Company's performance may be found in its filings with the SEC, which are available at http://www.sec.gov or at http://www.expeditions.com in the Investor Relations section of the Company's website. The decrease was driven by a $28.0 million decline at the Lindblad segment and a $3.4million decrease at the Land Experiences segment. is a measure of capacity and represents the maximum number of guests in a period and is based on double occupancy per cabin (except single occupancy for a single capacity cabin). Natural Habitat partners with the World Wildlife Fund to offer and promote conservation and sustainable travel that directly protects nature. Off the Beaten Path has a long-standing focus on offering unique adventures and experiences throughout the U.S. National Parks. As the Company's ships are currently not in operation, the majority of the fleet is being maintained with minimally required crew on-board to ensure they comply with all necessary regulations and can be put back fully and quickly into service as needed. As of June 30, 2022, the Company had $126.9 million in unrestricted cash and $48.8 million in restricted cash, primarily related to deposits on future travel originating from U.S. ports and credit card reserves. Gross Yield per Available Guest Night is a measurement of capacity available for sale and represents double occupancy per cabin (except single occupancy for a single capacity cabin) multiplied by the number of cruise days for the period. Vietnam & Cambodia Aboard Jahan. Natural Habitat partners with the World Wildlife Fund to offer and promote conservation and sustainable travel that directly protects nature. Lindblad Expeditions Holdings, Inc. Reports 2022 Second Quarter Gross Yield per Available Guest Night The senior secured notes are guaranteed on a senior secured basis by the Company and certain of the Company's subsidiaries and are collateralized by certain of the Company's assets. Off the Beaten Path is an outdoor, active travel company offering guided small group adventures and private custom journeys that connect travelers with the wild nature and authentic culture of their destinations. The Company has substantial advance reservations for future travel despite some continued short-term impact from the COVID-19 virus, including elevated cancellations and softness in near-term demand, as well as itinerary changes on a few upcoming voyages due to the Russia-Ukraine conflict. The Company continues to adhere to the comprehensive plan it implemented in March 2020 to mitigate the impact of COVID-19 and preserve and enhance its liquidity position. Net Cruise Cost , . represents Gross Cruise Cost excluding commissions and certain other direct costs of guest ticket revenues and other tour revenues. represents Gross Cruise Cost excluding commissions and certain other direct costs of guest ticket revenues and other tour revenues. DuVine's trips include top-quality gear and support and are tailored to riders of all abilities with an emphasis on exceptional food and wine experiences, along with boutique accommodations. First quarter Adjusted EBITDA loss of $21.2 million decreased $0.4 million as compared to the same period in 2021 as a $3.0 million decline at the Lindblad segment was mostly offset by a $2.6million increase at the Land Experiences segment. represents tour revenues less commissions and direct costs of other tour revenues. Lindblad Expeditions Holdings, Inc. to Report 2023 Second Quarter represent the number of ship expeditions completed during the period. The Company currently has a $35 million stock repurchase plan in place. NEW YORK, Aug. 1, 2022 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad"), a global provider of expedition cruises and adventure travel experiences, today reported financial results for the second quarter ended June 30, 2022. Guest Nights Sold The comprehensive plan we put in place just over a year ago to maintain a strong liquidity profile will enable us to return to operations as a nimble and vibrant company and capitalize on the substantial demand for authentic adventure travel. NEW YORK, July 13, 2023 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; "Lindblad"; the "Company"), a global provider of expedition cruises and adventure travel experiences, will report 2023 second quarter financial results on Thursday, July 27, 2023, before the market opens. During the first quarter, the Company did not repurchase any shares.