Lindblad Expeditions Holdings, Inc. balance sheet LIND

Annual Quarterly

As of Sep 30, 2026, Lindblad Expeditions Holdings, Inc. had total assets of $1.1 billion and total liabilities of $1.2 billion. Total assets were up 15.3% from a year earlier. Stockholders' equity was negative, at -$171.7 million, because liabilities exceed assets. It held $274.9 million in cash and investments against $664.5 million of total debt, net debt of $389.6 million. The current ratio, current assets divided by current liabilities, was 0.76.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the same quarter a year earlier.

Line	Q3 FY2026 Sep 30, 2026	Q2 FY2026 Jun 30, 2026	Q1 FY2026 Mar 31, 2026	Q4 FY2025 Dec 31, 2025	Q3 FY2025 Sep 30, 2025	Q2 FY2025 Jun 30, 2025	Q1 FY2025 Mar 31, 2025	Q4 FY2024 Dec 31, 2024
Assets
Cash	275 +5.0%	319 +58.7%	275 +45.6%	257 +39.6%	262 +35.0%	201 +19.5%	189 +6.3%	184 +17.3%
Cash and investments	275 +5.0%	319 +58.7%	275 +45.6%	257 +39.6%	262 +35.0%	201 +19.5%	189 +6.3%	184 +17.3%
Total current assets	398 +9.4%	443 +37.3%	385 +30.1%	368 +32.1%	364 +26.4%	323 +13.7%	296 +3.2%	278 +13.9%
Property and equipment, net	508 -3.7%	502 -5.8%	512 -3.7%	522 +0.7%	528 +2.1%	533 +3.3%	532 +1.9%	518 -1.4%
Goodwill	105 +71.6%	61 +2.4%	61 +2.4%	61 +2.7%	61 -9.8%	59 +40.9%	59 +40.9%	59 +40.5%
Total assets	1,126 +15.3%	1,034 +10.4%	987 +8.6%	980 +11.8%	977 +9.7%	937 +9.1%	909 +4.7%	877 +5.5%
Liabilities and equity
Accounts payable	24 +16.5%	15 +53.0%	25 +133.8%	22 +60.4%	21 +22.2%	10 +16.2%	11 -49.2%	14 -14.2%
Total current liabilities	523 +19.2%	525 +16.6%	473 +12.5%	462 +17.6%	439 +13.6%	450 +17.7%	421 +17.6%	392 +22.9%
Total liabilities	1,220 +10.3%	1,196 +10.7%	1,144 +9.0%	1,133 +10.9%	1,105 +9.2%	1,081 +6.6%	1,050 +6.6%	1,022 +8.2%
Stockholders' equity	-172 +33.1%	-196 +25.8%	-190 +24.6%	-285 -12.4%	-257 -13.1%	-264 -3.3%	-252 -10.9%	-253 -12.5%
Debt
Long-term debt	665 +0.2%	664 +5.8%	663 +5.9%	663 +6.0%	663 +6.2%	627 +0.6%	626 +0.6%	625 +0.6%
Lease liabilities	—	2 +50.6%	1 -0.7%	1 -58.6%	1 -47.2%	1 -29.4%	1 -14.8%	3 -26.4%
Total debt	665 +0.0%	666 +5.9%	665 +5.9%	664 +5.7%	664 +6.1%	628 +0.5%	628 +0.5%	628 +0.4%
Net cash	-390 +3.2%	-347 +18.9%	-390 +11.2%	-407 +8.4%	-402 +6.9%	-427 +6.5%	-439 +1.7%	-444 +5.2%
Ratios
Current ratio	0.76x	0.84x	0.81x	0.80x	0.83x	0.72x	0.70x	0.71x
Debt to EBITDA	4.89x	5.24x	5.75x	6.13x	6.44x	6.65x	7.77x	8.48x
Return on assets	0.51%	-1.67%	-2.47%	-3.03%	-3.20%	-1.06%	-2.87%	-3.56%
Book value per share	-2.62	-2.99	-2.90	-5.14	-4.64	-4.83	-4.62	-4.65

How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry: Transportation Services (SIC 4700)
Listed as: LIND (Nasdaq)
Fiscal year ends: December 31
Incorporated in: DE
Headquarters: New York, NY
SEC filer status: Accelerated filer
SEC CIK: 1512499
Former names: Capitol Acquisition Corp. II (until Jul 1, 2015)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.