Viking Holdings Ltd. reported its first quarter 2025 financial results, showing total revenue of $897.1 million, a 24.9% increase compared to the same period in 2024. The company's gross margin rose by 53.9%, with an adjusted gross margin increase of 23.8% from the previous year. Net Yield experienced a 7.1% growth, reaching $544. The company reported a net loss of $105.5 million for the first quarter of 2025, a significant improvement from a net loss of $490.7 million during the same period in 2024. Adjusted Net Loss for the first quarter of 2025 was also $105.5 million, compared to a loss of $137.9 million in the first quarter of 2024. Viking's adjusted EBITDA reached $72.8 million, an increase of $77.3 million from the same period last year. The company's net leverage improved from 2.4x at the end of 2024 to 2.0x by March 31, 2025. Operationally, Viking increased its capacity by 14.9% in the first quarter of 2025 and has already booked 92% of its capacity for the 2025 season. Vessel operating expenses were reported at $309.9 million, with expenses excluding fuel at $268.2 million, reflecting an increase due to the expanded fleet size compared to 2024.