Lindblad Expeditions Holdings, Inc. balance sheet

At the end of fiscal 2025, Lindblad Expeditions Holdings, Inc. had total assets of $980m, total liabilities of $1.13bn and shareholders' equity of −$285m. It held $257m in cash against $675m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Lindblad Expeditions Holdings, Inc.: balance sheet, annual
Fiscal year	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	44	40	207	135	96	113	102	188	151	87	157	184	257	319
Inventory	—	2	2	2	2	2	2	2	2	2	—	—	—	—
Total current assets	0	66	234	171	132	150	147	229	210	183	245	278	368	443
Goodwill	—	—	—	22	22	22	22	22	42	42	42	59	61	61
Total assets	200	246	382	408	424	473	549	757	827	788	831	877	980	1,034
Accounts payable	—	5	5	8	8	9	15	5	10	17	16	14	22	15
Deferred revenue (current)	—	—	—	—	112	123	139	121	213	245	252	319	361	440
Total current liabilities	0	126	104	124	144	159	183	156	289	341	319	392	462	525
Short-term debt	—	5	2	2	2	2	5	11	26	23	0	0	0	0
Long-term debt	—	52	163	164	164	188	214	471	519	529	622	625	663	664
Total debt	0	57	174	175	173	202	230	496	559	566	635	635	675	675
Total liabilities	—	178	268	289	312	351	409	631	812	874	945	1,022	1,133	1,196
Shareholders' equity	56	68	114	114	106	116	123	35	−79	−183	−225	−253	−285	−196
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	16	91	95	97	111	108	131	33
Shares outstanding	—	45m	45m	45m	45m	45m	50m	50m	51m	53m	53m	54m	55m	66m

US$ millions unless shown otherwise. Fiscal quarters.

Lindblad Expeditions Holdings, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Total current assets	288	278	296	323	364	368	385	443
Goodwill	68	59	59	59	61	61	61	61
Total assets	890	877	909	937	977	980	987	1,034
Accounts payable	17	14	11	10	21	22	25	15
Deferred revenue (current)	314	319	355	382	362	361	399	440
Total current liabilities	386	392	421	450	439	462	473	525
Short-term debt	0	0	0	0	0	0	0	0
Long-term debt	625	625	626	627	663	663	663	664
Total debt	625	625	626	627	663	663	663	664
Total liabilities	1,012	1,022	1,050	1,081	1,105	1,133	1,144	1,196
Shareholders' equity	−227	−253	−252	−264	−257	−285	−190	−196
Non-controlling interests and other (assets − liabilities − equity)	105	108	111	120	128	131	33	33
Shares outstanding	54m	54m	55m	55m	55m	55m	65m	66m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Lindblad Expeditions Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lindblad Expeditions Holdings, Inc.