Jun 2026 (Q2 FY26) — Aug 3, 2026
Lindblad Expeditions Q2 FY26 — Record Yields and Strong Booking Momentum
Read the full callLindblad Expeditions earnings: last reported Mon, 3 Aug 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 199 | +18.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 6.0 | +3.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -1.4 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Price
1Y: $11.91 on 17 Oct 2025 → $34.32. High $36.37 (13 Oct 2026), low $11.45 (17 Nov 2025).
Overview
Call summaries
Lindblad Expeditions Q2 FY26 — Record Yields and Strong Booking Momentum
Read the full callEvery analysed call
Financials
Net profit, year on year: +83% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 206 | 149 | 180 | 168 | 240 | 183 | 208 | 199 |
| Expenses | 177 | 156 | 169 | 164 | 204 | 189 | 192 | 187 |
| Operating profit | 29 | -8 | 11 | 4 | 36 | -6 | 16 | 12 |
| Operating margin | 14.3% | −5.1% | 5.9% | 2.6% | 15.0% | −3.0% | 7.5% | 6.0% |
| Other income | -11 | -12 | -11 | -11 | -34 | -11 | -11 | -11 |
| Profit before tax | 18 | -20 | -0 | -6 | 2 | -17 | 5 | 1 |
| Tax rate | −36.6% | −25.7% | 312.8% | −8.5% | −127.6% | −35.5% | −25.4% | 131.3% |
| Net profit | 23 | -25 | 1 | -9 | 1 | -24 | 7 | -1 |
| EPS ($ per share) | 0.39 | — | 0 | -0.18 | 0 | — | 0.10 | -0.02 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 75 | 82 | -12 | -136 | -267 | -322 | -363 | -411 |
| Total liabilities | 351 | 409 | 631 | 812 | 874 | 945 | 1,022 | 1,133 |
| Fixed assets | 286 | 358 | 483 | 542 | 539 | 526 | 518 | 522 |
| Investments | — | — | — | 0 | 14 | 0 | — | — |
| Total assets | 473 | 549 | 757 | 827 | 788 | 831 | 877 | 980 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 56 | 63 | -92 | 32 | -2 | 25 | 92 | 112 |
| Cash from investing | -54 | -100 | -155 | -115 | -50 | -15 | -44 | -67 |
| Cash from financing | 17 | 25 | 343 | 50 | -5 | 61 | -20 | 30 |
| Net cash flow | 19 | -13 | 95 | -32 | -57 | 71 | 29 | 74 |
| Capital expenditure | -54 | -96 | -155 | -97 | -38 | -30 | -34 | -48 |
| Free cash flow | 2 | -33 | -248 | -64 | -40 | -5 | 59 | 64 |
76 filings between Dec 22, 2025 and Oct 1, 2026.
Purchases
None
No insider bought shares.
Sales
$28.75M
31 sales by 7 insiders
68% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Also filed: 1 unspecified, 1 gift.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| BRESSLER BENJAMIN | — | $13.12M | Feb 5, 2026 |
| Lindblad Sven-Olof | — | $10.45M | Feb 4, 2026 |
| Dryden L. Dyson | — | $2.10M | Jun 4, 2026 |
| BISNOW MICHAEL ELLIOTT | — | $1.08M | Jun 17, 2026 |
| Smith, Jr. Thomas S. | — | $983.8K | Mar 9, 2026 |
| Byus Trey | — | $735.9K | May 21, 2026 |
| FAHEY JOHN M JR | — | $286.6K | May 21, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Leahy Natalya CEO | Tax withheld | 6,404 | $215.4K |
| Sep 1, 2026 | Leahy Natalya CEO | Award | 10,664 | $0 |
| Sep 1, 2026 | Goldberg Frederick Chief Financial Officer | Award | 4,503 | $0 |
| Aug 8, 2026 | Stuart Andrew Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Dryden L. Dyson Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Kaufman Pamela O. Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Reynolds Catherine B Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Smith, Jr. Thomas S. Director | Award | 3,240 | $0 |
| Aug 8, 2026 | FAHEY JOHN M JR Director | Award | 3,240 | $0 |
| Aug 8, 2026 | SCHULTZ ALEX P Director | Award | 3,240 | $0 |
| Aug 8, 2026 | EIN MARK Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Lindblad Sven-Olof Director | Award | 3,240 | $0 |
| Aug 8, 2026 | BISNOW MICHAEL ELLIOTT Director | Award | 3,240 | $0 |
| Aug 8, 2026 | Reavis Annette J. Director | Award | 3,240 | $0 |
| Jul 17, 2026 | Leahy Natalya CEO | Tax withheld | 15,000 | $415.1K |
| Jun 22, 2026 | Leahy Natalya CEO | Tax withheld | 9,763 | $0 |
| Jun 17, 2026 | BISNOW MICHAEL ELLIOTT Director | Sale | 44,642 | $1.08M |
| Jun 4, 2026 | Dryden L. Dyson Director | Sale | 39,946 | $880.5K |
| May 29, 2026 | Dryden L. Dyson Director | Sale | 52,747 | $1.22M |
| May 29, 2026 | FAHEY JOHN M JR Director | Unspecified | 2,000 | $45.8K |
| May 21, 2026 | FAHEY JOHN M JR Director | Sale | 2,000 | $40.5K |
| May 21, 2026 | Byus Trey Chief Expedition Officer | Sale | 10,000 | $200.5K |
| May 14, 2026 | FAHEY JOHN M JR Director | Sale 10b5-1 plan | 1,000 | $19.4K |
| May 12, 2026 | FAHEY JOHN M JR Director | Sale | 1,000 | $19.4K |
| May 11, 2026 | Byus Trey Chief Expedition Officer | Sale | 26,460 | $535.4K |
| May 11, 2026 | FAHEY JOHN M JR Director | Sale | 3,500 | $70.1K |
| Apr 28, 2026 | TAYLOR KEITH A Chief Maritime Officer | Tax withheld | 2,014 | $36.0K |
| Apr 11, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Tax withheld | 1,833 | $35.2K |
| Mar 31, 2026 | TAYLOR KEITH A Chief Maritime Officer | Award | 8,584 | $0 |
| Mar 31, 2026 | Byus Trey Chief Expedition Officer | Tax withheld | 5,202 | $90.0K |
| Mar 31, 2026 | Byus Trey Chief Expedition Officer | Award | 13,767 | $0 |
| Mar 31, 2026 | Goldberg Frederick Chief Financial Officer | Award | 11,257 | $0 |
| Mar 31, 2026 | Goldberg Frederick Chief Financial Officer | Tax withheld | 9,490 | $0 |
| Mar 31, 2026 | Leahy Natalya CEO | Tax withheld | 24,491 | $0 |
| Mar 31, 2026 | Leahy Natalya CEO | Award | 14,220 | $0 |
| Mar 31, 2026 | Byus Trey Chief Expedition Officer | Tax withheld | 4,520 | $0 |
| Mar 31, 2026 | Byus Trey Chief Expedition Officer | Award | 7,262 | $0 |
| Mar 31, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Tax withheld | 2,311 | $0 |
| Mar 31, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Award | 5,780 | $0 |
| Mar 29, 2026 | Byus Trey Chief Expedition Officer | Tax withheld | 2,313 | $0 |
| Mar 18, 2026 | Lindblad Sven-Olof Director | Gift | 100,000 | $0 |
| Mar 16, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Tax withheld | 106,713 | $1.81M |
| Mar 15, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Award | 243,916 | $0 |
| Mar 10, 2026 | FAHEY JOHN M JR Director | Sale | 7,768 | $137.2K |
| Mar 9, 2026 | Smith, Jr. Thomas S. Director | Sale | 56,000 | $983.8K |
| Feb 7, 2026 | Leahy Natalya CEO | Tax withheld | 11,842 | $237.3K |
| Feb 5, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Sale 10b5-1 plan | 41,000 | $741.2K |
| Feb 5, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Option exercise 10b5-1 plan | 41,000 | $0 |
| Feb 4, 2026 | Lindblad Sven-Olof Director | Sale 10b5-1 plan | 28,002 | $493.0K |
| Feb 4, 2026 | BRESSLER BENJAMIN *Founder & CEO of NHA | Option exercise 10b5-1 plan | 181,389 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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