Lindblad Expeditions Holdings Inc. reported third quarter 2025 total revenue of $240.2 million, up 17 percent from the prior year. The company recorded a net loss available to stockholders of $49 thousand, compared to net income of $21.3 million in the third quarter of 2024, mainly due to $23.5 million in debt refinancing expenses and a $4.2 million decrease in income tax benefit. Adjusted EBITDA increased 25 percent to $57.3 million. The Lindblad segment's net yield per available guest night rose 9 percent to $1,314, with occupancy increasing to 88 percent from 82 percent. The company refinanced its long-term debt, reducing the interest rate to 7.00 percent and extending maturity to 2030. Cash and cash equivalents, including restricted cash, totaled $290.1 million as of September 30, 2025, up from $216.1 million at the end of 2024.