Foreign exchangenegative · 4 filings
“Foreign Currency Translation The U.S.”10-Q · May 5, 2026 ↗
Lindblad Expeditions Holdings, Inc.
LIND
Market read
Lindblad Expeditions Holdings, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Company+2.1% todayVolume comparison unavailable
Market group0 of 14 activeConsumer Travel & Housing · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- LIND's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if LIND's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 14 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- LIND's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements57
Verified relationships2
Evidence supporting the case
- Latest annual revenue changed +19.6% year over year.
- Operating margin changed +2.6 percentage points in the latest annual period.
- Pricing and mix has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Diluted shares increased 2.1% in the latest annual period.
Questions before a position
- EV/sales is 50% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
25.316m+28.4%12m+68.7%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$147.1M+78.6%$-2.41+0.7%
2022-12-31$421.5M+186.5%$-2.23+3.8%
2023-12-31$569.5M+35.1%$-0.94+2.4%
2024-12-31$644.7M+13.2%$-0.67+1.1%
2025-12-31$771.0M+19.6%$-0.63+2.1%
What management says matters
Persistent and emerging business drivers
Pricing and mixpositive · 4 filings
“Net yield per available guest night increased 7% to $1,631 from $1,521 in 2025, reflecting the higher pricing and a 4-basis point increase in occupancy to 93% for 2026 compared with the same period in 2025.”10-Q · May 5, 2026 ↗
Capital investment and capacitymixed · 3 filings
“2025 primarily included the purchase of Torcatt Enterprises Limitada to expand our vessels and operations in the Galápagos, the refurbishment of the vessels acquired, and higher capital expenditure on our remaining vessels due to the timing of vessel drydocks…”10-Q · Nov 4, 2025 ↗
Labor availability and costsnegative · 2 filings
“General and administrative expenses for the nine months ended September 30, 2025 increased $12.5 million, or 15%, to $98.6 million, compared to $86.1 million for the nine months ended September 30, 2024, primarily due to higher stock-based compensation expens…”10-Q · Nov 4, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.8× · EV/sales 2.3×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
25.89+2.1% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 13:50 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for LIND. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for LIND. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind LIND
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
TRIThomson Reuters CorporationpartnerMay 5, 2026 ▾
“Thomson Group, consisting of Wineland-Thomson Adventures, LLC (“Thomson Safaris”), Nature Discovery Ltd (“Nature Discovery”), Thomson Safaris Ltd (“Thomson Safaris Tanzania”), and Ngorongoro Safari Lodge Ltd (“Gibb’s Farm”), provides socially responsible and…”
TRIThomson Reuters CorporationinvesteeNov 4, 2025 ▾
“The Lindblad segment cost of tours increased by $9.8 million, or 6%, and the Land Experiences segment increased $21.6 million, or 22%, which includes the year-to-date results of Thomson Group, acquired in July 2024.”
Filing peers
No filing peers are available for this name yet.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
LIND is currently a Follower in the organic co-movement group Consumer Travel & Housing. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for LIND; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.