← LINDBLAD EXPEDITIONS HOLDINGS, INC.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $4.9m ($8.7m) $11.4m $16.4m ($98.7m) ($119.2m) ($111.4m) ($45.6m) ($31.2m) ($29.7m)
Net Income (Loss) Available to Common Stockholders, Basic — — — $13.7m ($100.4m) ($124.7m) ($116.1m) ($50.0m) ($35.8m) ($34.6m)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $5.1m ($7.5m) $11.6m $18.7m ($100.1m) ($119.2m) ($108.2m) ($40.9m) ($28.2m) ($24.2m)
Net Income (Loss) Attributable to Noncontrolling Interest $195k $1.1m $200k $2.4m ($1.4m) $38k $3.2m $4.7m $3.0m $5.5m
Depreciation, Depletion and Amortization $17.1m $15.8m $19.0m $25.8m $32.1m $39.5m $44.0m $46.7m $52.6m $62.8m
Amortization of Debt Issuance Costs — — — $1.9m $2.1m $3.1m $2.7m $3.4m $3.7m $3.3m
Amortization of Debt Issuance Costs and Discounts $1.1m $2.2m $1.9m $1.9m $2.1m $3.2m $2.7m $3.4m $3.7m $3.3m
Amortization of Intangible Assets $1.3m $1.6m $1.6m $1.6m $1.6m $1.9m $2.0m $1.8m $2.1m $2.6m
Depreciation $18.4m $17.4m $20.8m $24.2m $30.5m $37.6m $41.0m $44.9m $50.5m $60.2m
Deferred Income Tax Expense (Benefit) ($3.3m) $8.3m ($139k) $1.5m ($9.8m) ($2.1m) $5.4m $2.7m $1.8m ($1.3m)
Deferred Other Tax Expense (Benefit) — $1.8m — — — — — — — —
Share-based Payment Arrangement, Noncash Expense $5.4m $10.6m $4.4m $3.6m $2.4m $5.6m $7.0m $13.9m $9.8m $13.5m
Payment, Tax Withholding, Share-based Payment Arrangement — $5.0m $4.5m $1.8m $405k $2.2m $1.1m $1.1m $3.0m $1.5m
Share-based Payment Arrangement, Expense $5.4m — — — — — — — — —
Goodwill, Impairment Loss — — — — $0 $0 — — — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — — — $0 $0 $0 $0 $0 $0
Gain (Loss) on Extinguishment of Debt — — — — — — — — — ($23.5m)
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property — — ($129k) — $0 $0 $0 — — —
Gain (Loss) on Disposition of Assets ($83k) $454k — — — — — — — —
Income Tax Expense (Benefit) ($3.2m) $10.0m $616k $2.2m ($9.8m) ($2.0m) $6.1m $3.1m $3.1m $2.5m
Operating Lease, Expense — — — $1.7m $1.8m $2.0m $2.3m $2.7m $2.6m $3.1m
Other Nonoperating Income (Expense) ($1.2m) ($133k) ($165k) ($66k) ($83k) $15.5m ($307k) ($4.1m) $159k $409k
Additional Financial Items
Foreign Currency Transaction Gain (Loss), before Tax ($720k) $1.1m ($2.2m) $94k ($4.8m) ($1.3m) ($1.2m) $751k ($1.1m) $1.1m
General and Administrative Expense $51.9m $60.5m $62.9m $62.7m $45.5m $65.4m $96.3m $118.4m $139.9m $130.0m
Goodwill $22.1m $22.1m $22.1m $22.1m $22.1m $42.0m $42.0m $42.0m $59.0m $60.6m
Nonoperating Income (Expense) ($12.1m) ($8.3m) ($13.2m) ($12.3m) ($21.5m) ($10.4m) ($39.0m) ($48.3m) ($46.6m) ($67.2m)
Operating Expenses $109.4m $120.2m $130.7m — — — — — — —
Payments of Financing Costs — — $6.5m $2.4m $7.0m $3.1m $10.9m $7.5m $21k $13.2m
Proceeds from Stock Options Exercised — — — — — — — — — $4.3m
Financing Receivable, Credit Loss, Expense (Reversal) — — — — — $0 — — — —
Revenue from Contract with Customer, Including Assessed Tax — — $309.7m $343.1m — $147.1m $421.5m $569.5m $644.7m $771.0m
Net Cash Provided by (Used in) Operating Activities $31.4m $52.9m $56.4m $62.6m ($92.3m) $32.5m ($2.2m) $25.4m $92.4m $111.6m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $75.9m $80.5m $54.3m $96.0m $155.5m $96.7m $38.2m $30.0m $33.5m $47.7m
Payments to Acquire Businesses, Net of Cash Acquired $9.9m — — — — $18.0m $0 $0 $10.6m $19.5m
Payments to Acquire Investments — — — — — — $15.0m — — —
Net Cash Provided by (Used in) Investing Activities ($86.4m) ($78.5m) ($54.3m) ($100.1m) ($155.5m) ($114.7m) ($49.6m) ($14.8m) ($44.1m) ($67.3m)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — — $200.0m $30.5m $268.3m $61.7m $360.0m $275.0m $0 $675.0m
Repayments of Long-term Debt $1.8m $1.8m $171.6m $2.0m $2.8m $6.0m $352.9m $205.7m $49k $635.0m
Net Cash Provided by (Used in) Financing Activities ($16.4m) ($13.4m) $16.5m $24.6m $343.0m $50.4m ($4.9m) $60.7m ($19.8m) $29.6m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($70.9m) ($40.9m) $18.7m ($12.9m) $95.3m ($31.8m) ($56.7m) $71.3m $28.8m $73.6m
Restricted Cash and Investments, Current $9.0m $7.1m $8.8m $7.7m $17.0m $21.9m $28.8m $30.5m $32.2m $33.0m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — $10.5m $13.4m $14.3m $16.3m $18.3m $25.8m $43.7m $49.4m $50.8m
Income Taxes Paid, Net — — $522k $1.2m $700k $98k $309k $711k $319k $3.2m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.