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Note 11 - Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Notes Tables |
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
|  | For the three months ended September 30, |  |  | For the nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
(In thousands) |  |  | (unaudited) |  |  |  | (unaudited) |
Tour revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lindblad |  | $ | 137,561 |  |  | $ | 121,268 |  |  | $ | 379,714 |  |  | $ | 332,624 |
Land Experiences |  |  | 102,611 |  |  |  | 84,737 |  |  |  | 208,124 |  |  |  | 163,494 |
Total tour revenues |  | $ | 240,172 |  |  | $ | 206,005 |  |  | $ | 587,838 |  |  | $ | 496,118 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lindblad |  | $ | 13,236 |  |  | $ | 11,680 |  |  | $ | 19,553 |  |  | $ | 10,092 |
Land Experiences |  |  | 22,734 |  |  |  | 17,801 |  |  |  | 31,440 |  |  |  | 19,032 |
Operating income |  | $ | 35,970 |  |  | $ | 29,481 |  |  | $ | 50,993 |  |  | $ | 29,124 |
|  | Lindblad Segment |
|  | For the three months ended September 30, |  |  | For the nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
(In thousands) |  |  | (unaudited) |  |  |  | (unaudited) |
Tour revenues |  | $ | 137,561 |  |  | $ | 121,268 |  |  | $ | 379,714 |  |  | $ | 332,624 |
Cost of tours |  |  | 63,800 |  |  |  | 59,202 |  |  |  | 187,092 |  |  |  | 177,306 |
General and administrative |  |  | 23,682 |  |  |  | 19,089 |  |  |  | 65,758 |  |  |  | 57,628 |
Selling and marketing |  |  | 23,483 |  |  |  | 19,536 |  |  |  | 66,639 |  |  |  | 52,606 |
Depreciation and amortization |  |  | 13,360 |  |  |  | 11,761 |  |  |  | 40,672 |  |  |  | 34,992 |
Operating income |  | $ | 13,236 |  |  | $ | 11,680 |  |  | $ | 19,553 |  |  | $ | 10,092 |
|  | Land Experiences Segment |
|  | For the three months ended September 30, |  |  | For the nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
(In thousands) |  |  | (unaudited) |  |  |  | (unaudited) |
Tour revenues |  | $ | 102,611 |  |  | $ | 84,737 |  |  | $ | 208,124 |  |  | $ | 163,494 |
Cost of tours |  |  | 60,573 |  |  |  | 50,584 |  |  |  | 121,519 |  |  |  | 99,885 |
General and administrative |  |  | 11,126 |  |  |  | 9,913 |  |  |  | 32,855 |  |  |  | 28,446 |
Selling and marketing |  |  | 6,608 |  |  |  | 5,467 |  |  |  | 18,083 |  |  |  | 13,436 |
Depreciation and amortization |  |  | 1,570 |  |  |  | 972 |  |  |  | 4,227 |  |  |  | 2,695 |
Operating income |  | $ | 22,734 |  |  | $ | 17,801 |  |  | $ | 31,440 |  |  | $ | 19,032 |
|  | For the three months ended September 30, |  |  | For the nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
(In thousands) |  |  | (unaudited) |  |  |  | (unaudited) |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lindblad: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  | $ | 13,338 |  |  | $ | 11,739 |  |  | $ | 40,606 |  |  | $ | 34,926 |
Amortization |  |  | 22 |  |  |  | 22 |  |  |  | 66 |  |  |  | 66 |
Land Experiences: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation |  |  | 972 |  |  |  | 542 |  |  |  | 2,432 |  |  |  | 1,405 |
Amortization |  |  | 598 |  |  |  | 430 |  |  |  | 1,795 |  |  |  | 1,290 |
Total depreciation and amortization |  | $ | 14,930 |  |  | $ | 12,733 |  |  | $ | 44,899 |  |  | $ | 37,687 |
|  | As of September 30, 2025 |  |  | As of December 31, 2024 |
(In thousands) |  | (unaudited) |  |  |  |
Total Assets: |  |  |  |  |  |  |  |
Lindblad |  | $ | 701,288 |  |  | $ | 667,799 |
Land Experiences |  |  | 275,246 |  |  |  | 209,106 |
Total assets |  | $ | 976,534 |  |  | $ | 876,905 |
Intangibles, net: |  |  |  |  |  |  |  |
Lindblad |  | $ | 4,739 |  |  | $ | 1,505 |
Land Experiences |  |  | 12,626 |  |  |  | 14,418 |
Total intangibles, net |  | $ | 17,365 |  |  | $ | 15,923 |
Goodwill: |  |  |  |  |  |  |  |
Lindblad |  | $ | - |  |  | $ | - |
Land Experiences |  |  | 61,145 |  |  |  | 59,031 |
Total goodwill |  | $ | 61,145 |  |  | $ | 59,031 |

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