Due to the spread of the COVID-19 virus and the effects of travel restrictions around the world, the Company suspended or rescheduled the majority of its expeditions departing between March 16, 2020 through May 31, 2021. The Company currently has a $35.0 million stock repurchase plan in place. Off the Beaten Path's small group product offerings include unique expeditions throughout the U.S, as well as trips across Europe, Africa, Australia, Central and South America and the South Pacific. 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. (In thousands, except for Available Guest Nights. The Company also anticipates a significant increase in guest payments as it receives final payments for upcoming expeditions and trips as well as deposits for new reservations for future travel. Additionally, all guests are required to be fully vaccinated, and the majority of expeditions take place in remote locations where human interactions are limited, so there is less opportunity for external influence. SOURCE Lindblad Expeditions Holdings, Inc. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! Peru. represents Net Yield divided by Available Guest Nights. Offerings include tours in the United States, such as the California redwoods, the vineyards of Napa and Sonoma, the American Southwest and New England farmland. Additionally, all guests are required to be fully vaccinated. 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. Lindblad Expeditions Holdings, Inc. - Last10K.com It is not possible to predict or identify all such risks. 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. 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. 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. There may be additional risks that we consider immaterial or which are unknown. is net income (loss)excluding depreciation and amortization, net interest expense, other income (expense), income tax (expense) benefit, (gain) loss on foreign currency, (gain) loss on transfer of assets, reorganization costs, and other supplemental adjustments. 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. Gross Yield per Available Guest Night 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. During May 2022, the Company further amended its export credit agreements to extend the waiver of its net leverage coverage ratio from March 2022 through December 31, 2022. The Company uses a variety of operational and financial metrics, including non-GAAP financial measures such as Adjusted EBITDA, Occupancy, Net Yields and Net Cruise Costs, to enable it to analyze its performance and financial condition. is calculated by dividing Guest Nights Sold by Available Guest Nights. Lindblad Expeditions cares deeply about the planet and is proud to serve as a catalyst for meaningful change. There will continue to be some short-term headwinds as we emerge from the pandemic and as we reschedule several upcoming itineraries due to the Russia-Ukraine conflict. 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. 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. Similarly, statements that describe the Company's financial guidance or future plans, objectives or goals are also forward-looking statements. Gross Yield per Available Guest Nightrepresents tour revenues divided by Available Guest Nights. DuVine also currently runs a variety of extraordinary trips that combine sailing and biking experiences, which will be further expanded as part of Lindblad. 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. Leadership Team | Lindblad Expeditions 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. DuVine is an award-winning international luxury cycling and adventure company based in Somerville, Massachusetts focused on providing immersive cultural experiences across the globe through thoughtfully designed itineraries led by expert local guides. Natural Habitat's adventures include polar bear tours in Churchill, Canada, Alaskan grizzly bear adventures and African safaris. The access code is 780301. 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. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected. 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 definitions of non-GAAP financial measures along with a reconciliation of non-GAAP financial information to GAAP are included in the supplemental financial schedules. Number of Guests Off the Beaten Path's trips extend across the globe, with a focus on exceptional national park experiences in the Rocky Mountains, Desert Southwest, and Alaska. The Company believes there are a variety of strategic advantages that enable it to deploy its ships safely and quickly, while mitigating the risk of COVID-19 as travel restrictions are lifted. During the quarter, the Company acquired majority interests in DuVine, a leading luxury cycling and adventure travel company, and Off the Beaten Path, a leading active travel operator with a specialization in U.S. National Parks. Lindblad Expeditions and the Eye are the trademarks of Lindblad Expeditions, LLC. International cycling tours include Costa Rican rainforests, the coast and seaside towns of Ireland, the mountains and vineyards of Spain, and the Swiss Alps. 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. Lindblad Expeditions Holdings, Inc. to Report 2022 Fourth Quarter and The significant demand for cycling-related content and usage was expanding rapidly prior to COVID-19 and that has only accelerated throughout the pandemic. 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). As of June 30, 2022, the Company had a total debt position of $578.2 million and was in compliance with all of its applicable debt covenants. 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). Adjusted EBITDA is net income (loss)excluding depreciation and amortization, net interest expense, other income (expense), income tax (expense) benefit, (gain) loss on foreign currency, (gain) loss on transfer of assets, reorganization costs, and other supplemental adjustments. 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. As we begin to return to the places we have visited over the last forty years, I couldn't be prouder of what we have accomplished these past twelve months, and I look forward to the opportunities ahead for our guests, for our employees and for our shareholders.". Press Release | Lindblad Expeditions Holdings Inc - Stockhouse 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. Guests bike, eat, drink, and sleep their way through these regions and many more while sampling the finest cuisine, hotels, and wine. Available Guest Nights The Land Experiences segment also includes a full quarter of results for Classic Journeys which was acquired during the fourth quarter of 2021. Lindblad continued to ramp its operations during the second quarter of 2022, providing immersive expeditions across all ten of its owned vessels including trips to Alaska, the Arctic, the Galpagos Islands, Greenland, Iceland, Norway and the Baltic and North Seas. Lindblad Expeditions Holdings Inc. Common Stock (LIND) Stock Price, Quote, News & History | Nasdaq Lindblad Expeditions Holdings Inc. Common Stock (LIND) Add to Watchlist Add to. Examples of international expeditions include hiking through the Dolomites, enjoying a family adventure in Patagonia's Lake District and experiencing the culture, architecture and village life of Morocco. Net Yield 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. Lindblad Expeditions Holdings, Inc. Reports 2021 Fourth Quarter and Additionally, the majority of expeditions take place in remote locations where human interactions are limited, so there is less opportunity for external influence. 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. 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. These factors include, but are not limited to, the following: (i) suspended operations and disruptions to our business and operations related to COVID-19; (ii) the impacts of COVID-19 and/or the Russia-Ukraine conflict on our financial condition, liquidity, results of operations, cash flows, employees, plans and growth; (iii) the impacts of COVID-19 on future travel and the cruise and airline industries in general; (iv) unscheduled disruptions in our business due to travel restrictions, weather events, mechanical failures, pandemics or other events; (v) changes adversely affecting the business in which we are engaged; (vi) management of our growth and our ability to execute on our planned growth; (vii) our business strategy and plans; (viii) our ability to maintain our relationship with National Geographic; (ix) compliance with new and existing laws and regulations, including environmental regulations and travel advisories and restrictions; (x) compliance with the financial and/or operating covenants in our debt arrangements; (xi) adverse publicity regarding the cruise industry in general;(xii) loss of business due to competition;(xiii)the result of future financing efforts;(xiv)delays and costs overruns with respect to the construction and delivery of newly constructed vessels; (xv) the inability to meet revenue and Adjusted EBITDA projections; and (xvi) those risks described in the Company's filings with the SEC. Net Yield per Available Guest Night represents Net Yield divided by Available Guest Nights. 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. Where travel restrictions remain, which now also includes a limited number of itineraries impacted by the Russia-Ukraine conflict, the Company is working with guests to reschedule travel plans and refund payments or issue future travel certificates, as appropriate. We believe Adjusted EBITDA, when considered along with other performance measures, is a useful measure as it reflects certain operating drivers of the business, such as sales growth, operating costs, selling and administrative expense, and other operating income and expense.