Lindblad Expeditions Holdings (LIND) Revenue by Segment

Breaks down sales across the company’s business lines, revealing which segments drive growth and how concentrated revenue sources are. A diversified revenue mix reduces dependence on a single market or season, while heavy concentration increases exposure to segment-specific risks.

Both Lindblad and Land Experiences have transitioned from pandemic troughs into a sustained, accelerating revenue recovery, with Land Experiences compounding faster and meaningfully diversifying revenue mix—this underpins record FY25 and management’s $800–$850M 2026 guidance and strong booking momentum. Near term, growth is front‑loaded into lower‑margin deployments and Q1 is exposed to dry/wet‑dock timing, a royalty step‑up and loss of tax credits, so margins should improve later in 2026 as yields and capacity optimization kick in.