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How LINDBLAD EXPEDITIONS HOLDINGS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$771M · 100%Cost of revenue$418M · 54%Gross profit$353M · 46%Operating income$45.5M · 6%Income before tax−$21.8M · −3%Income tax$2.5M · 0%Net income−$29.7M · −4%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$771M100%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
Cost of revenue$418M54%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
$353M46%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
$45.5M6%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
Income before tax−$21.8M−3%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
Income tax$2.5M0%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
−$29.7M−4%
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001437749-26-005873 · filed Feb 26, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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