Lindblad Expeditions (LIND) 10-K 27 Feb 25 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 24, 2025	Jun. 29, 2024
Document Information [Line Items]
Entity Central Index Key	0001512499
Entity Registrant Name	LINDBLAD EXPEDITIONS HOLDINGS, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2024
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-35898
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-4749725
Entity Address, Address Line One	96 Morton Street, 9th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10014
City Area Code	212
Local Phone Number	261-9000
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	LIND
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 259,200,000
Entity Common Stock, Shares Outstanding		54,586,397
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Hartford, Connecticut

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 183,941	$ 156,845
Restricted cash	32,202	30,499
Prepaid expenses and other current assets	62,290	57,158
Total current assets	278,433	244,502
Property and equipment, net	518,390	526,002
Goodwill	59,031	42,017
Intangibles, net	15,923	9,412
Other long-term assets	5,128	9,364
Total assets	876,905	831,297
Current Liabilities:
Unearned passenger revenues	318,666	252,199
Accrued expenses	58,054	48,901
Accounts payable	13,860	16,154
Lease liabilities - current	1,845	1,923
Long-term debt - current	29	47
Total current liabilities	392,454	319,224
Long-term debt, less current portion	625,425	621,778
Deferred tax liabilities	3,537	2,118
Other long-term liabilities	1,024	1,943
Total liabilities	1,022,440	945,063
Commitments and contingencies
Redeemable noncontrolling interests	29,424	37,784
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests	107,579	111,298
STOCKHOLDERS’ DEFICIT
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; 62,000 Series A shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	0	0
Common stock, $0.0001 par value, 200,000,000 shares authorized; 54,507,977 and 53,390,082 issued, 54,376,154 and 53,332,150 outstanding as of December 31, 2024 and December 31, 2023, respectively	6	5
Additional paid-in capital	109,473	97,139
Accumulated deficit	(362,881)	(322,208)
Accumulated other comprehensive income	288	0
Total stockholder’s deficit	(253,114)	(225,064)
Total liabilities, mezzanine equity and stockholders’ deficit	876,905	831,297
Series A Redeemable Convertible Preferred Stock [Member]
Current Liabilities:
Series A redeemable convertible preferred stock, 165,000 shares authorized; 62,000 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	$ 78,155	$ 73,514

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	62,000	62,000
Preferred stock, shares outstanding (in shares)	62,000	62,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	54,507,977	53,390,082
Common stock, shares outstanding (in shares)	54,376,154	53,332,150
Series A Redeemable Convertible Preferred Stock [Member]
Temporary equity, shares authorized (in shares)	165,000	165,000
Temporary equity, shares issued (in shares)	62,000	62,000
Temporary equity, shares outstanding (in shares)	62,000	62,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tour revenues	$ 644,727	$ 569,543	$ 421,500
Operating expenses:
Cost of tours	343,673	322,376	283,217
General and administrative	139,921	118,431	96,291
Selling and marketing	87,018	71,426	60,996
Depreciation and amortization	52,562	46,711	44,042
Total operating expenses	623,174	558,944	484,546
Operating income (loss)	21,553	10,599	(63,046)
Other (expense) income:
Interest expense, net	(45,738)	(45,014)	(37,495)
(Loss) gain on foreign currency	(1,065)	751	(1,236)
Other income (expense)	159	(4,066)	(307)
Total other expense	(46,644)	(48,329)	(39,038)
(Loss) income before income taxes	(25,091)	(37,730)	(102,084)
Income tax expense	3,104	3,146	6,076
Net loss	(28,195)	(40,876)	(108,160)
Net income attributable to noncontrolling interest	2,984	4,734	3,221
Net loss attributable to Lindblad Expeditions Holdings, Inc.	(31,179)	(45,610)	(111,381)
Series A redeemable convertible preferred stock dividend	4,641	4,373	4,671
Net loss available to stockholders	$ (35,820)	$ (49,983)	$ (116,052)
Weighted average shares outstanding
Basic (in shares)	53,817,462	53,256,513	52,018,987
Diluted (in shares)	53,817,462	53,256,513	52,018,987
Undistributed loss per share available to stockholders:
Basic (in dollars per share)	$ (0.67)	$ (0.94)	$ (2.23)
Diluted (in dollars per share)	$ (0.67)	$ (0.94)	$ (2.23)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (28,195)	$ (40,876)	$ (108,160)
Other comprehensive income:
Change in foreign currency translation adjustments	288	0	0
Reclassification adjustment, net of tax	0	0	634
Total other comprehensive income	288	0	634
Total comprehensive loss	(27,907)	(40,876)	(107,526)
Less: comprehensive income attributive to non-controlling interest	2,984	4,734	3,221
Comprehensive loss attributable to Lindblad Expeditions Holdings, Inc.	$ (30,891)	$ (45,610)	$ (110,747)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021	50,800,786
Balance at Dec. 31, 2021	$ 5	$ 58,485	$ (136,439)	$ (634)	$ (78,583)
Stock-based compensation	$ 0	6,992	0	0	6,992
Net activity related to equity compensation plans (in shares)	267,090
Net activity related to equity compensation plans	$ 0	(1,056)	0	0	(1,056)
Issuance of stock for conversion of preferred stock (in shares)	2,109,561
Issuance of stock for conversion of preferred stock	$ 0	19,429	0	0	19,429
Other comprehensive income (loss), net	0	0	0	634	634
Redeemable noncontrolling interest	0	0	(14,039)	0	(14,039)
Series A preferred stock dividend			(4,671)		(4,671)
Net income (loss) attributable to Lindblad Expeditions Holdings, Inc	$ 0	0	(111,381)	0	(111,381)
Balance (in shares) at Dec. 31, 2022	53,177,437
Balance at Dec. 31, 2022	$ 5	83,850	(266,530)	0	(182,675)
Stock-based compensation	$ 0	13,886	0	0	13,886
Net activity related to equity compensation plans (in shares)	212,645
Net activity related to equity compensation plans	$ 0	(597)	0	0	(597)
Other comprehensive income (loss), net					0
Redeemable noncontrolling interest	0	0	(5,695)	0	(5,695)
Series A preferred stock dividend	0	0	(4,373)	0	(4,373)
Net income (loss) attributable to Lindblad Expeditions Holdings, Inc	$ 0	0	(45,610)	0	(45,610)
Balance (in shares) at Dec. 31, 2023	53,390,082
Balance at Dec. 31, 2023	$ 5	97,139	(322,208)	0	(225,064)
Stock-based compensation	$ 0	9,833	0	0	9,833
Net activity related to equity compensation plans (in shares)	435,302
Net activity related to equity compensation plans	$ 1	(1,575)	0	0	(1,574)
Other comprehensive income (loss), net	0	0	0	288	288
Redeemable noncontrolling interest	0	(1,924)	(4,853)	0	(6,777)
Series A preferred stock dividend	0	0	(4,641)	0	(4,641)
Net income (loss) attributable to Lindblad Expeditions Holdings, Inc	$ 0	0	(31,179)	0	(31,179)
Issuance of stock for acquisition (in shares)	682,593
Issuance of stock for acquisition	$ 0	6,000	0	0	6,000
Balance (in shares) at Dec. 31, 2024	54,507,977
Balance at Dec. 31, 2024	$ 6	$ 109,473	$ (362,881)	$ 288	$ (253,114)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities
Net loss	$ (28,195)	$ (40,876)	$ (108,160)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	52,562	46,711	44,042
Amortization of deferred financing costs and other, net	3,699	3,368	2,669
Amortization of right-to-use lease assets	893	811	608
Stock-based compensation	9,833	13,886	6,992
Deferred income taxes	2,052	2,719	5,481
Loss (gain) on foreign currency	1,065	(751)	1,236
Write-off of unamortized issuance costs related to debt refinancing	0	3,860	9,004
Changes in operating assets and liabilities
Prepaid expenses and other current assets	(1,238)	(3,454)	(19,695)
Unearned passenger revenues	52,966	7,098	32,503
Other long-term assets	(2,037)	(1,871)	2,556
Other long-term liabilities	0	0	689
Accounts payable and accrued expenses	1,750	(5,210)	20,530
Operating lease liabilities	(995)	(850)	(658)
Net cash provided by (used in) operating activities	92,355	25,441	(2,203)
Cash Flows From Investing Activities
Purchases of property and equipment	(33,520)	(29,963)	(38,205)
Acquisition (net of cash acquired)	(10,559)	0	0
Sale of securities	0	15,163	(15,000)
Proceeds from loan principal repayment	0	0	3,610
Net cash used in investing activities	(44,079)	(14,800)	(49,595)
Cash Flows From Financing Activities
Purchase of redeemable noncontrolling interest	(16,721)	0	0
Proceeds from long-term debt	0	275,000	360,000
Repayments of long-term debt	(49)	(205,704)	(352,941)
Payment of deferred financing costs	(21)	(7,489)	(10,874)
Repurchase under stock-based compensation plans and related tax impacts	(2,974)	(1,128)	(1,056)
Net cash (used in) provided by financing activities	(19,765)	60,679	(4,871)
Effect of exchange rate changes on cash	288	0	0
Net increase in cash, cash equivalents and restricted cash	28,799	71,320	(56,669)
Cash, cash equivalents and restricted cash at beginning of period	187,344	116,024	172,693
Cash, cash equivalents and restricted cash at end of period	216,143	187,344	116,024
Supplemental disclosures of cash flow information:
Interest	49,423	43,695	25,815
Income taxes	319	711	309
Non-cash investing and financing activities:
Non-cash preferred stock dividend	4,641	4,373	4,671
Shares issued in connection with acquisition	6,000	0	0
Additional paid-in capital exercise proceeds of option shares	145	0	0
Additional paid-in capital exchange proceeds used for option shares	$ (145)	$ 0	$ 0

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2024 shares
Insider Trading Arr Line Items
Trading Arrangement, Securities Aggregate Available Amount	330,629
Trading Arrangement, Individual Name	Alex P. Schultz
Trading Arrangement, Individual Title	Director
Rule 10b5-1 Arrangement Terminated [Flag]	true
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	true
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Trading Arrangement Adoption Date	December 19, 2024
Trading Arrangement Termination Date	April 20, 2026

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We have integrated processes in place to manage information technology vulnerabilities, including technological tools and applications, and controls. Two step and multi-factor authentication is required for both internal and external access. Anti-virus and malware endpoint protection software is used on all Company and non-Company information systems workstations and laptops, as well as email filtering protection. We also subscribe to a Managed Threat Response service that proactively monitors all systems. System event logs are produced and reviewed, with all exceptions and anomalies of actions affecting or relevant to information security identified and investigated. The Security Operations Center from Sophos manages this service which reviews, identifies, and investigates threats in coordination with our internal teams. Software updates and configuration changes applied to information resources are tested prior to widespread implementation and are implemented in accordance with our change control policy. All information resources are scanned on a regular basis to identify missing updates. Missing software updates are evaluated and updates that pose an unacceptable risk to us are implemented and installed to the relevant information resources. Penetration testing and vulnerability scans of the internal network, external network, and hosted applications is conducted at scheduled intervals and after any significant changes to the information system environment. Any exploitable vulnerabilities found during a penetration test are remediated and the systems re-tested to verify vulnerabilities are resolved. Evidence of compromised or exploited information resource found during vulnerability scanning is reported to the Information Security Committee. Third-Party Engagement To maintain the highest standards of cybersecurity, we actively engage with specialized third Selection of Qualified Assessors: third Scope of Assessment: Regular and Ad-hoc Assessments: may Assessment Methodology: third Collaboration and Transparency: Action on Findings: Feedback and Continuous Improvement: In today third cybersecurity risks ● Risk Assessment and Due Diligence: third ● Contractual Safeguards and Compliance Requirements: third ● Incident Response and Communication: third third ● Review and Continuous Improvement: third Through these measures, we strive to mitigate the cybersecurity risks associated with third
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have integrated processes in place to manage information technology vulnerabilities, including technological tools and applications, and controls. Two step and multi-factor authentication is required for both internal and external access. Anti-virus and malware endpoint protection software is used on all Company and non-Company information systems workstations and laptops, as well as email filtering protection. We also subscribe to a Managed Threat Response service that proactively monitors all systems. System event logs are produced and reviewed, with all exceptions and anomalies of actions affecting or relevant to information security identified and investigated. The Security Operations Center from Sophos manages this service which reviews, identifies, and investigates threats in coordination with our internal teams.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	In today’s interconnected business environment, reliance on third-party service providers is inevitable. However, this reliance introduces additional cybersecurity risks that must be effectively managed. Our approach to identifying and mitigating these risks involves several key steps: ? Risk Assessment and Due Diligence: Prior to engaging with any third-party service provider, we conduct a comprehensive risk assessment. This assessment evaluates the provider's cybersecurity policies, data management practices, and compliance with industry standards. We also assess their history of cybersecurity incidents and responses to understand their resilience and reliability. ? Contractual Safeguards and Compliance Requirements: To ensure robust cybersecurity, our contracts with third-party providers include specific clauses that mandate adherence to our security policies and standards. These contractual obligations cover data protection, incident reporting, and compliance with relevant laws and regulations. Regular compliance audits are conducted to ensure these standards are continuously met. ? Incident Response and Communication: In the event of a cybersecurity incident involving a third-party provider, we have a well-defined incident response plan. This plan outlines the steps for quick and effective action, including communication strategies to manage the impact on stakeholders. We require our third-party providers to promptly notify us of any breaches or potential security threats. ? Review and Continuous Improvement: Our processes for managing third-party cybersecurity risks are regularly reviewed and updated. This ensures that we adapt to new threats and integrate best practices into our risk management framework. Through these measures, we strive to mitigate the cybersecurity risks associated with third-party service providers, ensuring the resilience and security of our operations and data.
Cybersecurity Risk Board of Directors Oversight [Text Block]	We recognize that our business information is a critical asset and as such our ability to manage, control, and protect this asset will have a direct and significant impact on our future success. Our Board of Directors (the “Board”) recognizes the critical importance of maintaining the trust and confidence of our customers, clients, business partners and employees. The Audit Committee of the Board is actively involved in oversight of our risk management program, and cybersecurity represents an important component of our overall approach to enterprise risk management (“ERM”). Our cybersecurity policies, standards, processes, and practices are fully integrated into our ERM program and are based on recognized frameworks established by the National Institute of Standards and Technology, the International Organization for Standardization and other applicable industry standards. In general, we seek to address cybersecurity risks through a comprehensive, cross-functional approach that is focused on preserving the confidentiality, security and availability of the information that we collect and store by identifying, preventing and mitigating cybersecurity threats and effectively responding to cybersecurity incidents when they occur. Governance We have an Information Security Committee, which is comprised of our Vice President of Information Technology (“VPIT”) and our network administrators. The Information Security Committee works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with our incident response and recovery policies. To facilitate the success of our cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the Information Security Committee monitors the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to the Risk Management Committee when appropriate. Our VPIT and vCISO provide frequent reporting and updates to our executive management and provides a full report to the Audit Committee of the Board on the cybersecurity audit and its cybersecurity roadmap for improvements and new infrastructure implementations annually, or more frequently if the need arises. The Information Security Committee oversees our ERM process, including the management of risks arising from cybersecurity threats. The Audit Committee of the Board third third
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	We have an Information Security Committee, which is comprised of our Vice President of Information Technology (“VPIT”) and our network administrators. The Information Security Committee works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents in accordance with our incident response and recovery policies. To facilitate the success of our cybersecurity risk management program, multidisciplinary teams throughout the Company are deployed to address cybersecurity threats and to respond to cybersecurity incidents. Through ongoing communications with these teams, the Information Security Committee monitors the prevention, detection, mitigation and remediation of cybersecurity threats and incidents in real time and report such threats and incidents to the Risk Management Committee when appropriate.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Information Security Committee is assisted by a Virtual Chief Information Security Officer (the “vCISO”) which is a contracted third-party security irm whose responsibilities include the formulation, review and recommendation of information security policies, ensuring compliance with applicable information security requirements, assessing the adequacy and effectiveness of the information security policies and coordinate the implementation of information security controls, identifying and recommending how to handle an instance of non-compliance, providing clear direction and visible management support for information security initiatives, promoting information security education, training, and awareness throughout the Company, and initiating plans and programs to maintain information security awareness, educating the team and staff on ongoing legal, regulatory and compliance changes as well as industry news and trends, and reporting annually, in coordination with the vCISO, to Executive Management on the effectiveness of our information security program, including progress of remedial actions.
Cybersecurity Risk Role of Management [Text Block]	Our VPIT and vCISO provide frequent reporting and updates to our executive management and provides a full report to the Audit Committee of the Board on the cybersecurity audit and its cybersecurity roadmap for improvements and new infrastructure implementations annually, or more frequently if the need arises.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our vCISO has employees and consultants that have served in various roles in information technology and information security for over 25 years, including serving as the Chief Information Security Officer of two large public companies. Our VPIT holds several information technology licenses and certificates and has served in various roles in information technology for over 25 years, including experience managing risks arising from cybersecurity threats.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Information Security Committee oversees our ERM process, including the management of risks arising from cybersecurity threats. The Audit Committee of the Board receives regular presentations and reports on cybersecurity risks from the Information Security Committee, which address a wide range of topics including recent developments, evolving standards, vulnerability assessments, third-party and independent reviews, the threat environment, technological trends and information security considerations arising with respect to our peers and third parties. The Audit Committee of the Board and the Risk Management Committee also receive prompt and timely information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates regarding any such incident until it has been addressed.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Note 1 - Business

Note 1 - Business	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	NOTE 1 BUSINESS Organization Lindblad Expeditions Holdings, Inc. and its consolidated subsidiaries’ (the “Company” or “Lindblad”) mission is offering life-enhancing adventures around the world and pioneering innovative ways to allow its guests to connect with exotic and remote places. The Company operates the following reportable business segments: Lindblad Segment. seven Land Experiences Segment five Natural Habitat 100 45 seven Off the Beaten Path DuVine Classic Journeys 50 Thomson Group 80

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements include the accounts of the Company after elimination of all intercompany accounts and transactions. The consolidated financial statements and accompanying footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”). Use of Estimates The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities as well as revenues and expenses and related disclosures. Actual results could differ from such estimates. Management estimates include determining the estimated lives of long-lived and intangible assets, the valuation of stock-based compensation awards, future travel certificate breakage, annual goodwill impairment assessment, and the recovery of deferred tax assets. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period that they are determined to be necessary. Revenue Recognition Revenues are measured based on consideration specified in the Company’s contracts with guests and are recognized as the related performance obligations are satisfied. The majority of the Company’s revenues are derived from guest ticket contracts which are reported as tour revenues. The Company’s primary performance obligation under these contracts is to provide an expedition, trip or tour, and may Tour revenues also include revenues from the sale of goods and services onboard the Company’s ships, cancellation fees and trip insurance. Revenues from the sale of goods and services rendered onboard are recognized upon purchase. Guest cancellation fees are recognized as tour revenues at the time of the cancellation. The Company records a liability for estimated trip insurance claims based on the Company’s claims history. Proceeds received from trip insurance premiums in excess of this liability are recorded as revenue in the period in which they are received. The Company sources its guest bookings through a combination of direct selling and various agency networks and alliances. The following table disaggregates tour revenues by the sales channel it was derived from: For the years ended December 31, Lindblad Segment 2024 2023 2022 Guest ticket revenue: Direct (a) $ 254,725 $ 226,151 $ 154,345 Agencies 92,809 90,185 66,298 Affinity 25,520 29,535 19,949 Guest ticket revenue 373,054 345,871 240,592 Other tour revenue 50,252 51,539 37,857 Tour revenues $ 423,306 $ 397,410 $ 278,449 For the years ended December 31, Land Experiences Segment 2024 2023 2022 Guest ticket revenue: Direct $ 184,420 $ 143,837 $ 115,309 Agencies 22,385 17,129 17,713 Affinity 3,741 3,134 3,100 Guest ticket revenue 210,546 164,100 136,122 Other tour revenue 10,875 8,033 6,929 Tour revenues $ 221,421 $ 172,133 $ 143,051 (a) Under the brand license agreement between the Company and National Geographic, effective January 1, 2024, no December 31, 2023 2022, 2023 2022 Customer Deposits and Contract Liabilities The Company’s guests remit deposits in advance of tour embarkation. Guest deposits consist of guest ticket revenues as well as revenues from the sale of pre- and post-expedition excursions, hotel accommodations, land-based expeditions and certain air transportation. Guest deposits represent unearned revenues and are reported as unearned passenger revenues when received and are subsequently recognized as tour revenue over the duration of the expedition. The Company does not no December 31, 2024, not December 31, 2024 2023 The change in contract liabilities within unearned passenger revenues are as follows: Contract Liabilities (In thousands) Balance as of December 31, 2023 $ 93,906 Recognized in tour revenues during the period (618,823 ) Additional contract liabilities in period 715,198 Balance as of December 31, 2024 $ 190,281 Cost of Tours Cost of tours represents the direct costs associated with revenues during expeditions, trips and tours, including costs of pre- or post-expedition excursions, hotel accommodations, land-based expeditions, air and other transportation expenses and costs of goods and services rendered onboard, payroll and related expenses for shipboard, guides and expedition personnel, food costs for guests and crew, fuel and related costs and other expenses such as land costs, port costs, repairs and maintenance, equipment expense, drydock, ship insurance and charter hire expenses. General and Administrative Expense General and administrative expenses represent the costs of the Company’s administrative functions, and includes salaries and related benefits, professional fees and occupancy costs, shore-side vessel support, credit card commissions, and reservations functions. Selling and Marketing Expense Selling and marketing expenses include commissions, royalties and a broad range of advertising and marketing expenses. These include advertising costs of direct mail, email, digital media, traditional media, travel agencies and brand websites, as well as costs associated with website development and maintenance, social media and corporate sponsorship costs. Advertising is charged to expense as incurred. Advertising expenses totaled $39.4 million, $33.2 million and $31.6 million for the years ended December 31, 2024, 2023 2022, December 31, 2024, 2023 2022 Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three As of December 31, 2024 2023 2022 (In thousands) Cash and cash equivalents $ 183,941 $ 156,845 $ 87,177 Restricted cash 32,202 30,499 28,847 Total cash, cash equivalents and restricted cash as presented in the statement of cash flows $ 216,143 $ 187,344 $ 116,024 Concentration of Currency Risk The Company maintains cash in several financial institutions in the U.S. and other countries which, at times, may December 31, 2024 2023, Restricted Cash The amounts held in restricted cash represent principally funds required to be held by certain vendors and regulatory agencies and are classified as restricted cash since such amounts cannot be used by the Company until the restrictions are removed by those vendors and regulatory agencies. These amounts are principally held in certificates of deposit and interest income is recognized when earned. In order to operate guest tour expedition vessels from U.S. ports, the Company is required to either post a performance bond with the Federal Maritime Commission or escrow all unearned guest deposits plus an additional 10% Restricted cash consist of the following: As of December 31, 2024 2023 (In thousands) Credit card processor reserves $ 12,750 $ 20,250 Federal Maritime Commission and other escrow 18,101 8,958 Certificates of deposit and other restricted deposits 1,351 1,291 Total restricted cash $ 32,202 $ 30,499 Prepaid Expenses and Other Current Assets The Company records prepaid expenses and other current assets at cost and expenses them in the period the services are provided or the goods are delivered. Marine operating supplies and first first As of December 31, 2024 2023 (In thousands) Prepaid tour expenses $ 28,585 $ 26,123 Other 33,705 31,035 Total prepaid expenses and other current assets $ 62,290 $ 57,158 Property and Equipment, net Property and equipment is recorded at cost, and the cost of improvements that extend the useful life of property and equipment is capitalized when incurred. These capitalized costs may Years Vessels and vessel improvements 15 to 25 Buildings and building improvements 3 to 40 Furniture & equipment 5 Computer hardware and software 5 to 10 Leasehold improvements, including expedition sites and port facilities Shorter of lease term or related asset life The ship-based tour and expedition industry is very capital intensive. As of December 31, 2024, ten two January 2025. Vessel improvement costs that add value to the Company’s vessels, such as those discussed above, are capitalized and depreciated over the shorter of the improvements, or the vessel’s estimated remaining useful life, while costs of repairs and maintenance, including minor improvement costs and drydock expenses, are charged to expense as incurred and included in cost of tours. Drydock costs primarily represent planned maintenance activities that are incurred when a vessel is taken out of service. For U.S. flagged ships, the statutory requirement traditionally is an annual docking and U.S. Coast Guard inspections, normally conducted in drydock. Internationally flagged ships have scheduled dockings approximately every 12 three six Goodwill The Company tests for impairment annually as of September 30, not September 30, 2024, no 5—Goodwill Intangible Assets, net Intangible assets include tradenames, customer lists and operating rights. Tradenames are words, symbols, or other devices used in trade or business to indicate the source of products and to distinguish it from other products and are registered with government agencies and are protected legally by continuous use in commerce. Customer lists are established relationships with existing customers that resulted in repeat purchases and customer loyalty. Based on the Company’s analysis, amortization of the tradenames and customer lists were computed using the estimated useful lives of 15 and 5 years, respectively. See Note 5—Goodwill The Company operates two National Geographic Endeavour II 96 National Geographic Islander II 48 2042, Upon the occurrence of a triggering event, any event or circumstance that indicates that the fair value or the Company’s intangible assets might be below its carrying amount, the assessment of possible impairment of the Company’s intangible assets will be based on the Company’s ability to recover the carrying value of its asset, which is determined by using the asset’s estimated undiscounted future cash flows. If these estimated undiscounted future cash flows are less than the carrying value of the asset, an impairment charge is recognized for the excess, if any, of the asset’s carrying value over its estimated fair value. If a quantitative assessment is needed, judgement is required in estimating the future cash flows and fair values of its tradenames, customer lists and operating rights. As of and for the year ended December 31, 2024 2023 no Long-Lived Asset Impairment Assessment The Company reviews its long-lived assets, principally its vessels, for impairment whenever events or changes in circumstances indicate that the carrying amounts of these assets may not December 31, 2024 2023, no Accounts Payable and Accrued Expenses The Company records accounts payable and accrued expenses for the cost of such items when the service is provided or when the related product is delivered. Leases The Company leases office and warehousing space with lease terms ranging from one ten three six At the inception of a lease, the Company recognizes right-of-use lease assets and related lease liabilities measured as the present value of future lease payments. The Company’s right-of-use lease assets are recorded in other long-term assets and the Company’s long-term lease liabilities are recorded in other long-term liabilities. Lease expense is recognized on a straight-line basis over the term of the lease. The Company reviewed its contracts with vendors, determining that its right-to-use lease assets consisted primarily of office space and land operating leases. In determining the right-to-use lease assets and related lease liabilities, the Company did not 12 Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three Level 1 Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at measurement date. Level 2 Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Significant unobservable inputs for assets or liabilities that cannot be corroborated by market data. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available and includes situations where there is little market activity for the investment. Level 3 no 3 The asset’s or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. Derivative Instruments and Hedging Activities As of December 31, 2024, not Currency Risk not By entering into derivative instrument contracts, the Company exposes itself, from time to time, to counterparty credit risk. Counterparty credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is in an asset position, the counterparty has a liability to the Company, which creates credit risk for the Company. The Company continues to monitor counterparty credit risk as part of its ongoing derivative assessments. The Company’s derivative assets and liabilities consist principally of currency exchange contracts, which are carried at fair value based on significant observable inputs (Level 2 not The Company records derivatives on a gross basis in other long-term assets and/or other liabilities. The accounting for changes in value of the derivative depends on whether or not not The Company, from time-to-time, applies hedge accounting to foreign exchange rate and interest rate derivatives entered into for risk management purposes. To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, key aspects of achieving hedge accounting are documentation of hedging strategy and hedge effectiveness at the hedge inception and substantiating hedge effectiveness on an ongoing basis. A derivative must be highly effective in accomplishing the hedge objective of offsetting changes in the cash flows of the hedged item for the risk being hedged. The effective portion of changes in the fair value of derivatives designated in a hedge relationship and that qualify as cash flow hedges is recorded in accumulated other comprehensive income, net of tax, and is subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. Income Taxes The Company is subject to income taxes in both the U.S. and the non-U.S. jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability method, under which it recognizes deferred income taxes for the tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, as well as for tax loss carryforwards and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The Company provides a valuation allowance against deferred tax assets if, based upon the weight of available evidence, the Company does not not” The Company regularly assesses the potential outcome of current and future examinations in each of the taxing jurisdictions when determining the adequacy of the provision for income taxes. The Company has only recorded financial statement benefits for tax positions which it believes are “more-likely-than- not” The Company is subject to tax audits in all jurisdictions for which it files tax returns. Tax audits by their very nature are often complex and can require several years to complete. Currently, there are no four five Other Long-Term Assets Other long-term assets include the Company’s right-to-use lease assets, deferred tax assets and long-term prepaid value-added taxes. The Company expects to earn tax credits over time that will reduce the value-added taxes and has applied for such tax credits with the Ecuadorian tax authorities. Deferred Financing Costs Deferred financing costs relate to the issuance costs of debt liabilities and are a direct deduction from the debt carrying amount. Deferred financing costs are amortized over the life of the debt or loan agreement through interest expense, net. See Note 6—Long Foreign Currency Translation The Company’s reporting currency is the U.S. dollar. The functional currencies of the Company’s operating entities are the U.S. dollar and Tanzanian shilling, and the remeasurement adjustments and gains or losses resulting from foreign currency transactions are recorded as foreign exchange gains or losses. Adjustments resulting from translating the foreign currency into U.S. dollars are recorded in other comprehensive income. Stock-Based Compensation Stock-based compensation awards issued to employees, non-employee directors or other service providers are recorded at their fair value on the date of grant and amortized over the service period of the award. The Company recognizes stock-based compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the equity instrument issued, within general and administrative expenses. Series A Redeemable Convertible Preferred Stock The Company’s Series A redeemable convertible preferred stock (“Preferred Stock”) is accounted for as a temporary equity instrument. The redemption or conversion of the Preferred Stock into shares of the Company’s common stock is not six six not 12—Stockholders’ Recently Adopted Accounting Pronouncements During November 2023, 2023 07 Segment Reporting (Topic 280 2023 07 December 15, 2023 December 15, 2024. January 1, 2024 January 1, 2025, 14—Segment 2023 07. Recent Accounting Pronouncements During December 2023, 2023 09 Income Taxes (Topic 740 Improvements to Income Tax Disclosures 2023 09 December 15, 2024. January 1, 2025 During November 2024, 2024 03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220 40 may 2024 03 December 15, 2026, December 15, 2027. January 1, 2027,

Note 3 - Earnings Per Share

Note 3 - Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 3 EARNINGS PER SHARE Earnings per common share is computed using the two two For the years ended December 31, 2024, 2023 2022, December 31, 2024, December 31, 2023, 0.8 December 31, 2022, For the years ended December 31, 2024, 2023 2022, For the years ended December 31, 2024 2023 2022 (In thousands, except share and per share data) Net loss attributable to Lindblad Expeditions Holdings, Inc. $ (31,179 ) $ (45,610 ) $ (111,381 ) Series A redeemable convertible preferred stock dividend 4,641 4,373 4,671 Undistributed income (loss) available to stockholders $ (35,820 ) $ (49,983 ) $ (116,052 ) Weighted average shares outstanding: Total weighted average shares outstanding, basic 53,817,462 53,256,513 52,018,987 Total weighted average shares outstanding, diluted 53,817,462 53,256,513 52,018,987 Undistributed loss per share available to stockholders: Basic $ (0.67 ) $ (0.94 ) $ (2.23 ) Diluted $ (0.67 ) $ (0.94 ) $ (2.23 )

Note 4 - Property and Equipment

Note 4 - Property and Equipment, Net	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 4 PROPERTY AND EQUIPMENT, NET Property and equipment, net are as follows: As of December 31, 2024 2023 (In thousands) Vessels and improvements $ 799,652 $ 776,622 Furniture and equipment 59,132 42,055 Land 729 - Buildings and improvements 2,435 - Leasehold improvements 1,425 1,424 Total property and equipment, gross 863,373 820,101 Less: Accumulated depreciation (344,983 ) (294,099 ) Property and equipment, net $ 518,390 $ 526,002 Total depreciation expense of the Company’s property and equipment for the years ended December 31, 2024, 2023 2022 44.9 For the year ended December 31, 2024, December 31, 2023,

Note 5 - Goodwill and Intangibl

Note 5 - Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	NOTE 5 GOODWILL AND INTANGIBLE ASSETS The Company's goodwill relates to the acquisition of its Land Experiences Segment subsidiaries, see Note 9—Acquisitions. (In thousands) Land Experiences Segment Balance as of December 31, 2021 $ 42,017 Activity - Balance as of December 31, 2022 42,017 Activity - Balance as of December 31, 2023 42,017 Acquisitions (a) 16,957 Foreign exchange translation 57 Balance as of December 31, 2024 $ 59,031 (a) Increase to goodwill relates to the 2024 9—Acquisition. The Company’s intangible assets consist of finite lived assets related to the acquisition of its Land Experiences Segment subsidiaries and the value of its cupos operating rights. Total amortization expense for the years ended December 31, 2024, 2023 2022, 1.8 The carrying amounts and accumulated amortization of intangibles, net are as follows: As of December 31, 2024 2023 (In thousands) Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount Weighted Average Useful Life Remaining (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Tradenames $ 14,939 $ (2,911 ) $ 12,028 12.1 $ 7,069 $ (2,222 ) $ 4,847 Customer Lists 6,907 (4,517 ) 2,390 1.7 6,182 (3,209 ) 2,973 Operating rights 6,529 (5,024 ) 1,505 17.2 6,529 (4,937 ) 1,592 Total intangibles, net $ 28,375 $ (12,452 ) $ 15,923 11.0 $ 19,780 $ (10,368 ) $ 9,412 (a) Increase to the gross carrying amounts of intangibles relate to the 2024 9—Acquisition. Future expected amortization expense related to these intangibles are as follows: Year Amount (In thousands) 2025 $ 2,465 2026 1,708 2027 1,229 2028 1,229 2029 1,178 Thereafter 8,114 $ 15,923

Note 6 - Long-term Debt

Note 6 - Long-term Debt	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 6 LONG-TERM DEBT 6.75% Notes On February 4, 2022, 2027 “6.75% 6.75% 6.75% February 4, 2022, 6.75% February 15 August 15 6.75% February 15, 2027, 6.75% 6.75% first 6.75% may Revolving Credit Facility On February 4, 2022, February 2027, first December 31, 2024, no 9.00% Notes On May 2, 2023, 2028 “9.00% 9.00% 9.00% May 15 November 15 9.00% May 15, 2028, 9.00% first 9.00% may Covenants The 6.75% 9.00% 6.75% 9.00% December 31, 2024, Other The Company’s DuVine subsidiary has a EUR 0.1 million State Assistance Loan related to the financial consequences of the COVID- 19 August 2025, Long-Term Debt Outstanding As of December 31, 2024 2023, As of December 31, 2024 2023 (In thousands) Principal Deferred Financing Costs, net Balance Principal Deferred Financing Costs, net Balance 6.75% Notes $ 360,000 $ (4,576 ) $ 355,424 $ 360,000 $ (6,771 ) $ 353,229 9.00% Notes 275,000 (4,999 ) 270,001 275,000 (6,481 ) 268,519 Other 29 - 29 77 - 77 Total long-term debt 635,029 (9,575 ) 625,454 635,077 (13,252 ) 621,825 Less current portion (29 ) - (29 ) (47 ) - (47 ) Total long-term debt, non-current $ 635,000 $ (9,575 ) $ 625,425 $ 635,030 $ (13,252 ) $ 621,778 Future minimum principal payments of long-term debt are as follows: Year Amount (In thousands) 2025 $ 29 2026 - 2027 360,000 2028 275,000 2029 - Thereafter - $ 635,029 For the years ended December 31, 2023 2022, December 31, 2024, 2023 2022, In 2023, 9.00% In 2022, 6.75% Letters of Credit As of December 31, 2024 2023, November 2025. 10—Commitments

Note 7 - Financial Instruments

Note 7 - Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Derivatives and Fair Value [Text Block]	NOTE 7 FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS The carrying amounts of cash and cash equivalents, accounts payable and accrued expenses and unearned passenger revenue approximate fair value, due to the short-term nature of these instruments. As of December 31, 2024 2023, and , the Company had no December 31, 2024,

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8 INCOME TAXES The Company provides for income taxes based on the Federal and state statutory rates on taxable income. U.S. and foreign components of income before incomes taxes are presented below: For the years ended December 31, (In thousands) 2024 2023 2022 Domestic $ 7,093 $ (11,630 ) $ (21,403 ) Foreign (32,184 ) (26,100 ) (80,681 ) Total $ (25,091 ) $ (37,730 ) $ (102,084 ) The income tax expense (benefit) is comprised of the following: For the years ended December 31, (In thousands) 2024 2023 2022 Current Federal $ 316 $ - $ - State 52 218 244 Foreign — Other 984 209 392 Total current 1,352 427 636 Deferred Federal 842 1,492 5,709 State 298 625 218 Foreign — Other 612 602 (487 ) Total deferred 1,752 2,719 5,440 Income tax expense $ 3,104 $ 3,146 $ 6,076 A reconciliation of the U.S. federal statutory income tax (benefit) expense to the Company’s effective income tax provision is as follows: For the years ended December 31, 2024 2023 2022 Tax provision at statutory rate – federal 21.0 % 21.0 % 21.0 % Tax provision at effective state and local rates (1.4 %) (2.1 %) (0.3 %) Foreign tax rate differential (32.7 %) (17.1 %) (16.6 %) Executive compensation (4.8 %) (5.0 %) 0.0 % Valuation allowance 6.8 % (5.9 %) (9.4 %) Other (1.3 %) 0.8 % (0.7 %) Total effective income tax rate (12.4 %) (8.3 %) (6.0 %) The Company, through its subsidiaries and affiliated entities in the U.S., the Cayman Islands, Ecuador and Tanzania are subject to US Federal, US state, Ecuadorian Federal and Tanzanian Federal income taxes. The Cayman Islands do not 2024. Deferred tax (liabilities) assets, net, are comprised of the following: As of December 31, (In thousands) 2024 2023 Deferred tax assets: Net operating loss carryforward $ 21,564 $ 26,086 Disallowed interest carryforward 18,256 15,286 Other 1,209 2,020 Valuation allowance (23,362 ) (24,726 ) Total net deferred assets 17,667 18,666 Deferred tax liabilities: Property and equipment (19,111 ) (18,542 ) Other (1,160 ) (676 ) Total net deferred liabilities (20,271 ) (19,218 ) Deferred tax (liabilities) assets $ (2,604 ) $ (552 ) Deferred tax assets and liabilities are recorded on the consolidated balance sheet based on tax jurisdictions. For the years ended December 31, 2024 2023, December 31, 2024 2023, The Company recognizes valuation allowances to reduce deferred tax assets to the amount that is more likely than not The Company has deferred tax assets related to U.S. federal loss carryforwards of $81.2 million as of December 31, 2024, may As a result of the transition to the territorial tax regime effectuated by the Tax Cuts and Jobs Act enacted in 2017, no no no No no The Company is subject to income taxes in the U.S. and various state and foreign jurisdictions. The Company establishes liabilities for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes may As of December 31, 2024 2023, no December 31, 2022, December 31, 2024, 2023 2022, The Company is subject to tax audits in all jurisdictions for which it files tax returns. Tax audits by their very nature are often complex and can require several years to complete. Currently, there are no four five

Note 9 - Acquisition

Note 9 - Acquisition	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE 9 On July 31, 2024, 40 80 30 The acquisition was accounted for under purchase accounting and is included in the consolidated results from the acquisition date. Acquisition related costs were $2.7 million and are included in general and administrative expenses for the year ended December 31, 2024. Following are pro forma revenue and net loss available to stockholders for the years ended December 31, 2024 2023, January 1, 2023: For the years ended December 31, 2024 2023 (In thousands) Revenue $ 593,318 $ 471,060 Net loss available to stockholders (46,458 ) (17,140 )

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10 COMMITMENTS AND CONTINGENCIES Redeemable Non-Controlling Interest Contingent Arrangements The Company has controlling interests in its Natural Habitat, Off the Beaten Path, DuVine and Classic Journeys consolidated subsidiaries. The noncontrolling interests are subject to put/call agreements. The agreements were established to provide formal exit opportunities for the minority interest holders and a path to 100% not not Mr. Bressler, founder of Natural Habitat, retains a 9.9% noncontrolling interest in Natural Habitat, which is subject to a put/call arrangement, amended May 2020 December 2022. first April 2024, December 31, 2023, for $15.2 million, increasing the Company’s ownership of Natural Habitat to 90.1%. second January 31, 2026, not December 31, 2025. not March 31, 2029, Mr. Lawrence, President of Off the Beaten Path, through a combination of his original minority interest and the profit interest units he received, retains a 19.9% noncontrolling interest in Off the Beaten Path, which is subject to a put/call arrangement. Mr. Lawrence has a put option, that under certain conditions and subject to providing notice by October 31, 2025, not December 31, 2025. not October 31, 2025, December 31, 2030, Mr. Levine, founder of DuVine, retains a 25% noncontrolling interest in DuVine, which is subject to a put/call arrangement. During April 2024, the Company exercised a portion of its call option on DuVine, acquiring an additional 5% of the business and increasing its total ownership of DuVine to 75%, for $1.5 million. January 31, 2026, not December 31, 2025. first December 31, 2025, second not December 31, 2025, December 31, 2030, Mr. and Mrs. Piegza, founders of Classic Journeys, retain a 19.9% noncontrolling interest in Classic Journeys, which is subject to a put/call arrangement. Mr. and Mrs. Piegza have a put option that under certain conditions, and subject to providing notice by November 13, 2026, not not Since the redemption of these noncontrolling interests is not one two The following is a rollforward of the redeemable noncontrolling interest: For the years ended December 31, 2024 2023 2022 Beginning balance $ 37,784 $ 27,886 $ 10,626 Net income attributable to noncontrolling interest 2,984 4,734 3,221 Redemption value adjustment of put option 4,853 5,695 14,039 Distribution (1,400 ) (531 ) - Redemption of put and/or call options (14,797 ) - - Ending balance $ 29,424 $ 37,784 $ 27,886 Lease Commitments The Company leases office space, land for safari base camps and equipment under long-term leases, which are classified as operating leases. As of December 31, 2024, December 31, 2024 (In thousands) Operating Lease Payments 2025 $ 1,845 2026 513 2027 409 2028 16 2029 16 Thereafter 654 Present value discount ( 8 (674 ) Total $ 2,779 Lease expense was $2.6 million, $2.7 million and $2.3 million for the years ended December 31, 2024, 2023 2022, Brand License Agreement National Geographic The Company is party to a brand license agreement with National Geographic through 2040 , 2026, 2023 2022, Charter Commitments From time to time, the Company enters into agreements to charter vessels onto which it holds its tours and expeditions, and with third Future minimum payments on its charter agreements are as follows: For the years ended December 31, Amount (In thousands) 2025 $ 16,692 2026 11,567 Total $ 28,259 Other Commitments The Company had an agreement for the acquisition of Torcatt Enterprises Limitada, a holding company that operates two January 9, 2025 . The Company participates, with other tour operators, in the Consumer Protection Insurance Plan sponsored by the United States Tour Operators Association (“USTOA”). The USTOA requires a $1.0 million performance bond, letter of credit or assigned certificate of deposit from its members to insure this plan. The Company has assigned a $1.0 Legal Proceedings The Company is involved in various claims, legal actions and regulatory proceedings arising from time to time in the ordinary course of business. In the opinion of management, after consulting legal counsel, there are no

Note 11 - Employee Benefit Plan

Note 11 - Employee Benefit Plan	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	NOTE 11 EMPLOYEE BENEFIT PLAN The Company has a 401 2024, 2023 2022, 2024, 2023 2022. 401 December 31, 2024, 2023 2022,

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 12 STOCKHOLDERS EQUITY Company Stock The Company has 1,000,000 shares of preferred stock authorized, $0.0001 par value and 200,000,000 shares of common stock authorized, $0.0001 par value. Preferred Stock On August 31, 2020, December 31, 2024, first two second may 2024, may, not 150% 20 30 six not December 31, 2024. During the year ended December 31, 2022, No December 31, 2024 2023. For the years ended December 31, 2024, 2023 2022, December 31, 2024, Stock Repurchase Plan In 2016, no December 31, 2024. December 31, 2024

Note 13 - Stock Based Compensat

Note 13 - Stock Based Compensation	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 13 STOCK-BASED COMPENSATION During 2021, 2021 2015 December 31, 2024. Restricted Stock and Restricted Stock Units Restricted stock is shares of stock granted to an employee, non-employee director or other service providers for which sale is prohibited for a specified period of time. Restricted stock typically vests ratably over a one three three not Market Stock Units MSUs represent a promise to deliver shares to the employee, non-employee director or other service providers at a future date if certain performance and vesting conditions are met. The MSUs are market-based equity incentive awards based on a performance-multiplier of change in the stock price of the Company’s common stock between the grant date and a determined closing price. Each MSU represents the right to receive one may may The Company assessed the applicable metrics related to the MSU grants, estimating the fair value of employee MSU awards and the amount of stock compensation expense using the Monte-Carlo pricing model. Performance Stock Units PSUs represent a promise to deliver shares to the employee, non-employee director or other service providers at a future date if certain performance and vesting conditions are met. PSUs generally vest three not The PSUs granted may three may Long-Term Incentive Compensation See the following table for a summary of PSU, restricted stock, RSU and MSU activity. Performance-based Stock Units Restricted Stock and Restricted Stock Units Market-based Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance, December 31, 2023 66,684 $ 9.56 657,207 $ 11.06 61,881 $ 17.48 Granted 70,378 9.33 553,156 8.74 - - Vested and released - - (454,346 ) 10.55 (18,639 ) 18.90 Forfeited (53,640 ) 9.45 (81,774 ) 10.34 (33,850 ) 17.36 Balance, December 31, 2024 83,422 9.44 674,243 9.60 9,392 15.08 Stock Options Stock options represent a right to buy a number of shares by the employee, non-employee director or other service providers at a future date, for a pre-set price, or exercise price, for a fixed period of time. Stock options generally vest over one four ten 2021 Stock Option Grants 2024 2023 2022 Exercise price $ 7.40 - 8.44 $ 9.56 $ 12.64 - 14.36 Dividend yield 0.0 % 0.00 % 0.00 % Expected volatility 64.6 - 77.8 % 64.6 % 57.79 % Risk-free interest rate 3.63 - 4.48 % 3.63 % 2.75 - 3.15 % Expected term in years 5.0 - 6.25 6.25 6.25 The following table is a summary of stock option activity: Number of Options Weighted Average Exercise Price Weighted Average Contractual Live (Years) Aggregate Intrinsic Value Options outstanding as of December 31, 2023 888,458 $ 10.55 7.7 $ - Granted 1,944,319 8.12 Exercised (263,000 ) 9.50 Forfeited (150,000 ) 9.56 Options outstanding as of December 31, 2024 2,419,777 8.77 9.0 7,910,071 As of December 31, 2024 Number of Options Weighted Average Exercise Price Weighted Average Contractual Live (Years) Aggregate Intrinsic Value Options vested and/or expected to vest 2,419,777 $ 8.77 9.0 $ 7,910,071 Options exercisable 1,594,548 8.76 9.1 5,162,571 During the year ended 2024, 2022, No December 31, 2023. Stock-based Compensation Expense Stock-based compensation expense for the years ended December 31, 2024, 2023 2022 December 31, 2024, 2023 2022 December 31, 2024, $12.7 Mr. Bressler has an equity incentive opportunity to earn an award of options based on the financial performance of Natural Habitat, where if the final year equity value of Natural Habitat, as defined in Mr. Bressler's employment agreement, as amended, exceeds $25.0 million, effective as of December 31, 2025, one December 31, 2023, three March 31, 2024, December 31, 2025. ten December 31, 2023, December 31, 2025 2023 December 31, 2024 2023,

Note 14 - Segment Information

Note 14 - Segment Information	12 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 14 SEGMENT INFORMATION The Company’s chief operating decision maker, or CODM, is Natalya Leahy, the Chief Executive Officer. The CODM assesses performance and allocates resources based upon the separate financial information from the Company’s operating segments. In identifying its reportable segments, the Company organized them around the nature of services provided and other relevant factors. The Company is primarily an experiential travel operator with operations in two two The Company evaluates the performance of its business segments based largely on tour revenues and operating income, without allocating other income and expenses, net, income taxes and interest expense, net. For the years ended December 31, 2024, 2023 2022, For the years ended December 31, 2024 2023 2022 (In thousands) Tour revenues: Lindblad $ 423,306 $ 397,410 $ 278,449 Land Experiences 221,421 172,133 143,051 Total tour revenues $ 644,727 $ 569,543 $ 421,500 Operating income: Lindblad $ (2,928 ) $ (8,692 ) $ (77,871 ) Land Experiences 24,481 19,291 14,825 Operating income (loss) $ 21,553 $ 10,599 $ (63,046 ) The following table presents the Lindblad segment expenses: For the years ended December 31, (In thousands) 2024 2023 2022 Tour revenues $ 423,306 $ 397,410 $ 278,449 Cost of tours 217,408 222,413 201,255 General and administrative 92,662 83,004 67,564 Selling and marketing 67,731 57,334 46,226 Depreciation and amortization 48,433 43,351 41,275 Operating loss $ (2,928 ) $ (8,692 ) $ (77,871 ) The following table presents the Land Experiences segment expenses: For the years ended December 31, (In thousands) 2024 2023 2022 Tour revenues $ 221,421 $ 172,133 $ 143,051 Cost of tours 126,265 99,963 81,962 General and administrative 47,259 35,427 28,727 Selling and marketing 19,287 14,092 14,770 Depreciation and amortization 4,129 3,360 2,767 Operating income $ 24,481 $ 19,291 $ 14,825 Intercompany tour revenues between the Lindblad and Land Experiences segments are eliminated in consolidation and in the presentation above for the years ended December 31, 2024, 2023 2022 During the years ended December 31, 2024, 2023 2022, Depreciation and amortization expense is included in segment operating income as shown below: For the years ended December 31, 2024 2023 2022 (In thousands) Depreciation and amortization: Lindblad: Depreciation $ 48,345 $ 43,263 $ 41,080 Amortization 88 88 195 Land Experiences: Depreciation 2,131 1,641 946 Amortization 1,998 1,719 1,821 Total depreciation and amortization $ 52,562 $ 46,711 $ 44,042 The following table presents the Company’s total assets, intangibles, net and goodwill by segment: As of December 31, 2024 2023 (In thousands) Total Assets: Lindblad $ 667,799 $ 675,432 Land Experiences 209,106 155,865 Total assets $ 876,905 $ 831,297 Intangibles, net: Lindblad $ 1,505 $ 1,592 Land Experiences 14,418 7,820 Total intangibles, net $ 15,923 $ 9,412 Goodwill: Lindblad $ - $ - Land Experiences 59,031 42,017 Total goodwill $ 59,031 $ 42,017

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements include the accounts of the Company after elimination of all intercompany accounts and transactions. The consolidated financial statements and accompanying footnotes have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”).
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities as well as revenues and expenses and related disclosures. Actual results could differ from such estimates. Management estimates include determining the estimated lives of long-lived and intangible assets, the valuation of stock-based compensation awards, future travel certificate breakage, annual goodwill impairment assessment, and the recovery of deferred tax assets. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the consolidated financial statements in the period that they are determined to be necessary.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition Revenues are measured based on consideration specified in the Company’s contracts with guests and are recognized as the related performance obligations are satisfied. The majority of the Company’s revenues are derived from guest ticket contracts which are reported as tour revenues. The Company’s primary performance obligation under these contracts is to provide an expedition, trip or tour, and may Tour revenues also include revenues from the sale of goods and services onboard the Company’s ships, cancellation fees and trip insurance. Revenues from the sale of goods and services rendered onboard are recognized upon purchase. Guest cancellation fees are recognized as tour revenues at the time of the cancellation. The Company records a liability for estimated trip insurance claims based on the Company’s claims history. Proceeds received from trip insurance premiums in excess of this liability are recorded as revenue in the period in which they are received. The Company sources its guest bookings through a combination of direct selling and various agency networks and alliances. The following table disaggregates tour revenues by the sales channel it was derived from: For the years ended December 31, Lindblad Segment 2024 2023 2022 Guest ticket revenue: Direct (a) $ 254,725 $ 226,151 $ 154,345 Agencies 92,809 90,185 66,298 Affinity 25,520 29,535 19,949 Guest ticket revenue 373,054 345,871 240,592 Other tour revenue 50,252 51,539 37,857 Tour revenues $ 423,306 $ 397,410 $ 278,449 For the years ended December 31, Land Experiences Segment 2024 2023 2022 Guest ticket revenue: Direct $ 184,420 $ 143,837 $ 115,309 Agencies 22,385 17,129 17,713 Affinity 3,741 3,134 3,100 Guest ticket revenue 210,546 164,100 136,122 Other tour revenue 10,875 8,033 6,929 Tour revenues $ 221,421 $ 172,133 $ 143,051 (a) Under the brand license agreement between the Company and National Geographic, effective January 1, 2024, no December 31, 2023 2022, 2023 2022
Customer Deposits and Contract Liabilities, Policy [Policy Text Block]	Customer Deposits and Contract Liabilities The Company’s guests remit deposits in advance of tour embarkation. Guest deposits consist of guest ticket revenues as well as revenues from the sale of pre- and post-expedition excursions, hotel accommodations, land-based expeditions and certain air transportation. Guest deposits represent unearned revenues and are reported as unearned passenger revenues when received and are subsequently recognized as tour revenue over the duration of the expedition. The Company does not no December 31, 2024, not December 31, 2024 2023 The change in contract liabilities within unearned passenger revenues are as follows: Contract Liabilities (In thousands) Balance as of December 31, 2023 $ 93,906 Recognized in tour revenues during the period (618,823 ) Additional contract liabilities in period 715,198 Balance as of December 31, 2024 $ 190,281
Cost of Goods and Service [Policy Text Block]	Cost of Tours Cost of tours represents the direct costs associated with revenues during expeditions, trips and tours, including costs of pre- or post-expedition excursions, hotel accommodations, land-based expeditions, air and other transportation expenses and costs of goods and services rendered onboard, payroll and related expenses for shipboard, guides and expedition personnel, food costs for guests and crew, fuel and related costs and other expenses such as land costs, port costs, repairs and maintenance, equipment expense, drydock, ship insurance and charter hire expenses.
Selling, General and Administrative Expenses, Policy [Policy Text Block]	General and Administrative Expense General and administrative expenses represent the costs of the Company’s administrative functions, and includes salaries and related benefits, professional fees and occupancy costs, shore-side vessel support, credit card commissions, and reservations functions.
Advertising Cost [Policy Text Block]	Selling and Marketing Expense Selling and marketing expenses include commissions, royalties and a broad range of advertising and marketing expenses. These include advertising costs of direct mail, email, digital media, traditional media, travel agencies and brand websites, as well as costs associated with website development and maintenance, social media and corporate sponsorship costs. Advertising is charged to expense as incurred. Advertising expenses totaled $39.4 million, $33.2 million and $31.6 million for the years ended December 31, 2024, 2023 2022, December 31, 2024, 2023 2022
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid instruments with an original maturity of three As of December 31, 2024 2023 2022 (In thousands) Cash and cash equivalents $ 183,941 $ 156,845 $ 87,177 Restricted cash 32,202 30,499 28,847 Total cash, cash equivalents and restricted cash as presented in the statement of cash flows $ 216,143 $ 187,344 $ 116,024
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration of Currency Risk The Company maintains cash in several financial institutions in the U.S. and other countries which, at times, may December 31, 2024 2023,
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Restricted Cash The amounts held in restricted cash represent principally funds required to be held by certain vendors and regulatory agencies and are classified as restricted cash since such amounts cannot be used by the Company until the restrictions are removed by those vendors and regulatory agencies. These amounts are principally held in certificates of deposit and interest income is recognized when earned. In order to operate guest tour expedition vessels from U.S. ports, the Company is required to either post a performance bond with the Federal Maritime Commission or escrow all unearned guest deposits plus an additional 10% Restricted cash consist of the following: As of December 31, 2024 2023 (In thousands) Credit card processor reserves $ 12,750 $ 20,250 Federal Maritime Commission and other escrow 18,101 8,958 Certificates of deposit and other restricted deposits 1,351 1,291 Total restricted cash $ 32,202 $ 30,499
Prepaid Expenses and Other Current Assets [Policy Text Block]	Prepaid Expenses and Other Current Assets The Company records prepaid expenses and other current assets at cost and expenses them in the period the services are provided or the goods are delivered. Marine operating supplies and first first As of December 31, 2024 2023 (In thousands) Prepaid tour expenses $ 28,585 $ 26,123 Other 33,705 31,035 Total prepaid expenses and other current assets $ 62,290 $ 57,158
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, net Property and equipment is recorded at cost, and the cost of improvements that extend the useful life of property and equipment is capitalized when incurred. These capitalized costs may Years Vessels and vessel improvements 15 to 25 Buildings and building improvements 3 to 40 Furniture & equipment 5 Computer hardware and software 5 to 10 Leasehold improvements, including expedition sites and port facilities Shorter of lease term or related asset life The ship-based tour and expedition industry is very capital intensive. As of December 31, 2024, ten two January 2025. Vessel improvement costs that add value to the Company’s vessels, such as those discussed above, are capitalized and depreciated over the shorter of the improvements, or the vessel’s estimated remaining useful life, while costs of repairs and maintenance, including minor improvement costs and drydock expenses, are charged to expense as incurred and included in cost of tours. Drydock costs primarily represent planned maintenance activities that are incurred when a vessel is taken out of service. For U.S. flagged ships, the statutory requirement traditionally is an annual docking and U.S. Coast Guard inspections, normally conducted in drydock. Internationally flagged ships have scheduled dockings approximately every 12 three six
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill The Company tests for impairment annually as of September 30, not September 30, 2024, no 5—Goodwill
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets, net Intangible assets include tradenames, customer lists and operating rights. Tradenames are words, symbols, or other devices used in trade or business to indicate the source of products and to distinguish it from other products and are registered with government agencies and are protected legally by continuous use in commerce. Customer lists are established relationships with existing customers that resulted in repeat purchases and customer loyalty. Based on the Company’s analysis, amortization of the tradenames and customer lists were computed using the estimated useful lives of 15 and 5 years, respectively. See Note 5—Goodwill The Company operates two National Geographic Endeavour II 96 National Geographic Islander II 48 2042, Upon the occurrence of a triggering event, any event or circumstance that indicates that the fair value or the Company’s intangible assets might be below its carrying amount, the assessment of possible impairment of the Company’s intangible assets will be based on the Company’s ability to recover the carrying value of its asset, which is determined by using the asset’s estimated undiscounted future cash flows. If these estimated undiscounted future cash flows are less than the carrying value of the asset, an impairment charge is recognized for the excess, if any, of the asset’s carrying value over its estimated fair value. If a quantitative assessment is needed, judgement is required in estimating the future cash flows and fair values of its tradenames, customer lists and operating rights. As of and for the year ended December 31, 2024 2023 no
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-Lived Asset Impairment Assessment The Company reviews its long-lived assets, principally its vessels, for impairment whenever events or changes in circumstances indicate that the carrying amounts of these assets may not December 31, 2024 2023, no
Accounts Payable and Accrued Expenses, Policy [Policy Text Bock]	Accounts Payable and Accrued Expenses The Company records accounts payable and accrued expenses for the cost of such items when the service is provided or when the related product is delivered.
Lessee, Leases [Policy Text Block]	Leases The Company leases office and warehousing space with lease terms ranging from one ten three six At the inception of a lease, the Company recognizes right-of-use lease assets and related lease liabilities measured as the present value of future lease payments. The Company’s right-of-use lease assets are recorded in other long-term assets and the Company’s long-term lease liabilities are recorded in other long-term liabilities. Lease expense is recognized on a straight-line basis over the term of the lease. The Company reviewed its contracts with vendors, determining that its right-to-use lease assets consisted primarily of office space and land operating leases. In determining the right-to-use lease assets and related lease liabilities, the Company did not 12
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Fair value is defined as an exit price, representing the amount that would be received upon the sale of an asset or payment to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three Level 1 Quoted market prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at measurement date. Level 2 Quoted market prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not Level 3 Significant unobservable inputs for assets or liabilities that cannot be corroborated by market data. Fair value is determined by the reporting entity’s own assumptions utilizing the best information available and includes situations where there is little market activity for the investment. Level 3 no 3 The asset’s or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement.
Derivatives, Policy [Policy Text Block]	Derivative Instruments and Hedging Activities As of December 31, 2024, not Currency Risk not By entering into derivative instrument contracts, the Company exposes itself, from time to time, to counterparty credit risk. Counterparty credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is in an asset position, the counterparty has a liability to the Company, which creates credit risk for the Company. The Company continues to monitor counterparty credit risk as part of its ongoing derivative assessments. The Company’s derivative assets and liabilities consist principally of currency exchange contracts, which are carried at fair value based on significant observable inputs (Level 2 not The Company records derivatives on a gross basis in other long-term assets and/or other liabilities. The accounting for changes in value of the derivative depends on whether or not not The Company, from time-to-time, applies hedge accounting to foreign exchange rate and interest rate derivatives entered into for risk management purposes. To qualify for hedge accounting, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. In addition, key aspects of achieving hedge accounting are documentation of hedging strategy and hedge effectiveness at the hedge inception and substantiating hedge effectiveness on an ongoing basis. A derivative must be highly effective in accomplishing the hedge objective of offsetting changes in the cash flows of the hedged item for the risk being hedged. The effective portion of changes in the fair value of derivatives designated in a hedge relationship and that qualify as cash flow hedges is recorded in accumulated other comprehensive income, net of tax, and is subsequently reclassified into earnings in the period that the hedged transaction affects earnings. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking cash flow hedges to specific assets and liabilities on the balance sheet or to specific forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company is subject to income taxes in both the U.S. and the non-U.S. jurisdictions in which it operates. The Company accounts for income taxes using the asset and liability method, under which it recognizes deferred income taxes for the tax consequences attributable to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities, as well as for tax loss carryforwards and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recoverable or settled. The Company provides a valuation allowance against deferred tax assets if, based upon the weight of available evidence, the Company does not not” The Company regularly assesses the potential outcome of current and future examinations in each of the taxing jurisdictions when determining the adequacy of the provision for income taxes. The Company has only recorded financial statement benefits for tax positions which it believes are “more-likely-than- not” The Company is subject to tax audits in all jurisdictions for which it files tax returns. Tax audits by their very nature are often complex and can require several years to complete. Currently, there are no four five
Other Long-term Assets [Policy Text Block]	Other Long-Term Assets Other long-term assets include the Company’s right-to-use lease assets, deferred tax assets and long-term prepaid value-added taxes. The Company expects to earn tax credits over time that will reduce the value-added taxes and has applied for such tax credits with the Ecuadorian tax authorities.
Debt, Policy [Policy Text Block]	Deferred Financing Costs Deferred financing costs relate to the issuance costs of debt liabilities and are a direct deduction from the debt carrying amount. Deferred financing costs are amortized over the life of the debt or loan agreement through interest expense, net. See Note 6—Long
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The Company’s reporting currency is the U.S. dollar. The functional currencies of the Company’s operating entities are the U.S. dollar and Tanzanian shilling, and the remeasurement adjustments and gains or losses resulting from foreign currency transactions are recorded as foreign exchange gains or losses. Adjustments resulting from translating the foreign currency into U.S. dollars are recorded in other comprehensive income.
Share-Based Payment Arrangement [Policy Text Block]	Stock-Based Compensation Stock-based compensation awards issued to employees, non-employee directors or other service providers are recorded at their fair value on the date of grant and amortized over the service period of the award. The Company recognizes stock-based compensation costs on a straight-line basis over the requisite service period of the award, which is generally the vesting term of the equity instrument issued, within general and administrative expenses.
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]	Series A Redeemable Convertible Preferred Stock The Company’s Series A redeemable convertible preferred stock (“Preferred Stock”) is accounted for as a temporary equity instrument. The redemption or conversion of the Preferred Stock into shares of the Company’s common stock is not six six not 12—Stockholders’
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements During November 2023, 2023 07 Segment Reporting (Topic 280 2023 07 December 15, 2023 December 15, 2024. January 1, 2024 January 1, 2025, 14—Segment 2023 07. Recent Accounting Pronouncements During December 2023, 2023 09 Income Taxes (Topic 740 Improvements to Income Tax Disclosures 2023 09 December 15, 2024. January 1, 2025 During November 2024, 2024 03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220 40 may 2024 03 December 15, 2026, December 15, 2027. January 1, 2027,

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	For the years ended December 31, Lindblad Segment 2024 2023 2022 Guest ticket revenue: Direct (a) $ 254,725 $ 226,151 $ 154,345 Agencies 92,809 90,185 66,298 Affinity 25,520 29,535 19,949 Guest ticket revenue 373,054 345,871 240,592 Other tour revenue 50,252 51,539 37,857 Tour revenues $ 423,306 $ 397,410 $ 278,449 For the years ended December 31, Land Experiences Segment 2024 2023 2022 Guest ticket revenue: Direct $ 184,420 $ 143,837 $ 115,309 Agencies 22,385 17,129 17,713 Affinity 3,741 3,134 3,100 Guest ticket revenue 210,546 164,100 136,122 Other tour revenue 10,875 8,033 6,929 Tour revenues $ 221,421 $ 172,133 $ 143,051
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Contract Liabilities (In thousands) Balance as of December 31, 2023 $ 93,906 Recognized in tour revenues during the period (618,823 ) Additional contract liabilities in period 715,198 Balance as of December 31, 2024 $ 190,281
Schedule of Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block]	As of December 31, 2024 2023 2022 (In thousands) Cash and cash equivalents $ 183,941 $ 156,845 $ 87,177 Restricted cash 32,202 30,499 28,847 Total cash, cash equivalents and restricted cash as presented in the statement of cash flows $ 216,143 $ 187,344 $ 116,024
Restricted Cash and Marketable Securities [Table Text Block]	As of December 31, 2024 2023 (In thousands) Credit card processor reserves $ 12,750 $ 20,250 Federal Maritime Commission and other escrow 18,101 8,958 Certificates of deposit and other restricted deposits 1,351 1,291 Total restricted cash $ 32,202 $ 30,499
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	As of December 31, 2024 2023 (In thousands) Prepaid tour expenses $ 28,585 $ 26,123 Other 33,705 31,035 Total prepaid expenses and other current assets $ 62,290 $ 57,158
Schedule Of Estimated Useful Lives [Table Text Block]	Years Vessels and vessel improvements 15 to 25 Buildings and building improvements 3 to 40 Furniture & equipment 5 Computer hardware and software 5 to 10 Leasehold improvements, including expedition sites and port facilities Shorter of lease term or related asset life

Note 3 - Earnings Per Share (Ta

Note 3 - Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the years ended December 31, 2024 2023 2022 (In thousands, except share and per share data) Net loss attributable to Lindblad Expeditions Holdings, Inc. $ (31,179 ) $ (45,610 ) $ (111,381 ) Series A redeemable convertible preferred stock dividend 4,641 4,373 4,671 Undistributed income (loss) available to stockholders $ (35,820 ) $ (49,983 ) $ (116,052 ) Weighted average shares outstanding: Total weighted average shares outstanding, basic 53,817,462 53,256,513 52,018,987 Total weighted average shares outstanding, diluted 53,817,462 53,256,513 52,018,987 Undistributed loss per share available to stockholders: Basic $ (0.67 ) $ (0.94 ) $ (2.23 ) Diluted $ (0.67 ) $ (0.94 ) $ (2.23 )

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of December 31, 2024 2023 (In thousands) Vessels and improvements $ 799,652 $ 776,622 Furniture and equipment 59,132 42,055 Land 729 - Buildings and improvements 2,435 - Leasehold improvements 1,425 1,424 Total property and equipment, gross 863,373 820,101 Less: Accumulated depreciation (344,983 ) (294,099 ) Property and equipment, net $ 518,390 $ 526,002

Note 5 - Goodwill and Intangi_2

Note 5 - Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	(In thousands) Land Experiences Segment Balance as of December 31, 2021 $ 42,017 Activity - Balance as of December 31, 2022 42,017 Activity - Balance as of December 31, 2023 42,017 Acquisitions (a) 16,957 Foreign exchange translation 57 Balance as of December 31, 2024 $ 59,031
Schedule of Intangible Assets and Goodwill [Table Text Block]	As of December 31, 2024 2023 (In thousands) Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount Weighted Average Useful Life Remaining (years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Tradenames $ 14,939 $ (2,911 ) $ 12,028 12.1 $ 7,069 $ (2,222 ) $ 4,847 Customer Lists 6,907 (4,517 ) 2,390 1.7 6,182 (3,209 ) 2,973 Operating rights 6,529 (5,024 ) 1,505 17.2 6,529 (4,937 ) 1,592 Total intangibles, net $ 28,375 $ (12,452 ) $ 15,923 11.0 $ 19,780 $ (10,368 ) $ 9,412
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Year Amount (In thousands) 2025 $ 2,465 2026 1,708 2027 1,229 2028 1,229 2029 1,178 Thereafter 8,114 $ 15,923

Note 6 - Long-term Debt (Tables

Note 6 - Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	As of December 31, 2024 2023 (In thousands) Principal Deferred Financing Costs, net Balance Principal Deferred Financing Costs, net Balance 6.75% Notes $ 360,000 $ (4,576 ) $ 355,424 $ 360,000 $ (6,771 ) $ 353,229 9.00% Notes 275,000 (4,999 ) 270,001 275,000 (6,481 ) 268,519 Other 29 - 29 77 - 77 Total long-term debt 635,029 (9,575 ) 625,454 635,077 (13,252 ) 621,825 Less current portion (29 ) - (29 ) (47 ) - (47 ) Total long-term debt, non-current $ 635,000 $ (9,575 ) $ 625,425 $ 635,030 $ (13,252 ) $ 621,778
Schedule of Maturities of Long-Term Debt [Table Text Block]	Year Amount (In thousands) 2025 $ 29 2026 - 2027 360,000 2028 275,000 2029 - Thereafter - $ 635,029

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	For the years ended December 31, (In thousands) 2024 2023 2022 Domestic $ 7,093 $ (11,630 ) $ (21,403 ) Foreign (32,184 ) (26,100 ) (80,681 ) Total $ (25,091 ) $ (37,730 ) $ (102,084 )
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	For the years ended December 31, (In thousands) 2024 2023 2022 Current Federal $ 316 $ - $ - State 52 218 244 Foreign — Other 984 209 392 Total current 1,352 427 636 Deferred Federal 842 1,492 5,709 State 298 625 218 Foreign — Other 612 602 (487 ) Total deferred 1,752 2,719 5,440 Income tax expense $ 3,104 $ 3,146 $ 6,076
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the years ended December 31, 2024 2023 2022 Tax provision at statutory rate – federal 21.0 % 21.0 % 21.0 % Tax provision at effective state and local rates (1.4 %) (2.1 %) (0.3 %) Foreign tax rate differential (32.7 %) (17.1 %) (16.6 %) Executive compensation (4.8 %) (5.0 %) 0.0 % Valuation allowance 6.8 % (5.9 %) (9.4 %) Other (1.3 %) 0.8 % (0.7 %) Total effective income tax rate (12.4 %) (8.3 %) (6.0 %)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	As of December 31, (In thousands) 2024 2023 Deferred tax assets: Net operating loss carryforward $ 21,564 $ 26,086 Disallowed interest carryforward 18,256 15,286 Other 1,209 2,020 Valuation allowance (23,362 ) (24,726 ) Total net deferred assets 17,667 18,666 Deferred tax liabilities: Property and equipment (19,111 ) (18,542 ) Other (1,160 ) (676 ) Total net deferred liabilities (20,271 ) (19,218 ) Deferred tax (liabilities) assets $ (2,604 ) $ (552 )

Note 9 - Acquisition (Tables)

Note 9 - Acquisition (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Business Acquisition, Pro Forma Information [Table Text Block]	For the years ended December 31, 2024 2023 (In thousands) Revenue $ 593,318 $ 471,060 Net loss available to stockholders (46,458 ) (17,140 )

Note 10 - Commitments and Con_2

Note 10 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	For the years ended December 31, 2024 2023 2022 Beginning balance $ 37,784 $ 27,886 $ 10,626 Net income attributable to noncontrolling interest 2,984 4,734 3,221 Redemption value adjustment of put option 4,853 5,695 14,039 Distribution (1,400 ) (531 ) - Redemption of put and/or call options (14,797 ) - - Ending balance $ 29,424 $ 37,784 $ 27,886
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	(In thousands) Operating Lease Payments 2025 $ 1,845 2026 513 2027 409 2028 16 2029 16 Thereafter 654 Present value discount ( 8 (674 ) Total $ 2,779
Shcedule of Future Minimum Payments for Charter Commitments [Table Text Block]	For the years ended December 31, Amount (In thousands) 2025 $ 16,692 2026 11,567 Total $ 28,259

Note 13 - Stock Based Compens_2

Note 13 - Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Activity [Table Text Block]	Performance-based Stock Units Restricted Stock and Restricted Stock Units Market-based Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance, December 31, 2023 66,684 $ 9.56 657,207 $ 11.06 61,881 $ 17.48 Granted 70,378 9.33 553,156 8.74 - - Vested and released - - (454,346 ) 10.55 (18,639 ) 18.90 Forfeited (53,640 ) 9.45 (81,774 ) 10.34 (33,850 ) 17.36 Balance, December 31, 2024 83,422 9.44 674,243 9.60 9,392 15.08
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Stock Option Grants 2024 2023 2022 Exercise price $ 7.40 - 8.44 $ 9.56 $ 12.64 - 14.36 Dividend yield 0.0 % 0.00 % 0.00 % Expected volatility 64.6 - 77.8 % 64.6 % 57.79 % Risk-free interest rate 3.63 - 4.48 % 3.63 % 2.75 - 3.15 % Expected term in years 5.0 - 6.25 6.25 6.25
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]	Number of Options Weighted Average Exercise Price Weighted Average Contractual Live (Years) Aggregate Intrinsic Value Options outstanding as of December 31, 2023 888,458 $ 10.55 7.7 $ - Granted 1,944,319 8.12 Exercised (263,000 ) 9.50 Forfeited (150,000 ) 9.56 Options outstanding as of December 31, 2024 2,419,777 8.77 9.0 7,910,071 As of December 31, 2024 Number of Options Weighted Average Exercise Price Weighted Average Contractual Live (Years) Aggregate Intrinsic Value Options vested and/or expected to vest 2,419,777 $ 8.77 9.0 $ 7,910,071 Options exercisable 1,594,548 8.76 9.1 5,162,571

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the years ended December 31, 2024 2023 2022 (In thousands) Tour revenues: Lindblad $ 423,306 $ 397,410 $ 278,449 Land Experiences 221,421 172,133 143,051 Total tour revenues $ 644,727 $ 569,543 $ 421,500 Operating income: Lindblad $ (2,928 ) $ (8,692 ) $ (77,871 ) Land Experiences 24,481 19,291 14,825 Operating income (loss) $ 21,553 $ 10,599 $ (63,046 ) For the years ended December 31, (In thousands) 2024 2023 2022 Tour revenues $ 423,306 $ 397,410 $ 278,449 Cost of tours 217,408 222,413 201,255 General and administrative 92,662 83,004 67,564 Selling and marketing 67,731 57,334 46,226 Depreciation and amortization 48,433 43,351 41,275 Operating loss $ (2,928 ) $ (8,692 ) $ (77,871 ) For the years ended December 31, (In thousands) 2024 2023 2022 Tour revenues $ 221,421 $ 172,133 $ 143,051 Cost of tours 126,265 99,963 81,962 General and administrative 47,259 35,427 28,727 Selling and marketing 19,287 14,092 14,770 Depreciation and amortization 4,129 3,360 2,767 Operating income $ 24,481 $ 19,291 $ 14,825 For the years ended December 31, 2024 2023 2022 (In thousands) Depreciation and amortization: Lindblad: Depreciation $ 48,345 $ 43,263 $ 41,080 Amortization 88 88 195 Land Experiences: Depreciation 2,131 1,641 946 Amortization 1,998 1,719 1,821 Total depreciation and amortization $ 52,562 $ 46,711 $ 44,042 As of December 31, 2024 2023 (In thousands) Total Assets: Lindblad $ 667,799 $ 675,432 Land Experiences 209,106 155,865 Total assets $ 876,905 $ 831,297 Intangibles, net: Lindblad $ 1,505 $ 1,592 Land Experiences 14,418 7,820 Total intangibles, net $ 15,923 $ 9,412 Goodwill: Lindblad $ - $ - Land Experiences 59,031 42,017 Total goodwill $ 59,031 $ 42,017

Note 1 - Business (Details Text

Note 1 - Business (Details Textual)	Dec. 31, 2024
Number of Expedition Ships Operated	12
Number of Seasonal Charter Vessels Operated	7

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2021	Dec. 31, 2025	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Contract with Customer, Liability, Current			$ 318,666	$ 252,199
Advertising Expense			39,400	33,200	$ 31,600
Foreign Financial Institutions, Actual Deposits			$ 7,400	5,800
Required Escrow Deposit Amount, Maximum						$ 32,000
Number of Vessels Owned			10
License Agreement, Term of Contract (Year)	20 years
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 0	0
Office Space, Lease [Member] | Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)			10 years
Equipment Lease [Member] | Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)			6 years
Equipment Lease [Member] | Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)			3 years
Land for Safari Base Camps [Member] | Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)			95 years
Land for Safari Base Camps [Member] | Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)			12 years
Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			15 years
Customer Lists [Member]
Finite-Lived Intangible Asset, Useful Life (Year)			5 years
Subsequent Event [Member]
Number of Vessels Acquired		2
Online Advertising [Member]
Advertising Expense			$ 19,900	17,300	14,700
Sales Channel, Directly to Consumer [Member]
Revenues				$ 68,700	$ 59,000

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Disaggregation of Revenues by Type (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lindblad Segment [Member]
Revenues		$ 423,306	$ 397,410	$ 278,449
Land-experience [Member]
Revenues		221,421	172,133	143,051
Sales Channel, Directly to Consumer [Member]
Revenues			68,700	59,000
Guest Ticket [Member] | Lindblad Segment [Member]
Revenues		373,054	345,871	240,592
Guest Ticket [Member] | Land-experience [Member]
Revenues		210,546	164,100	136,122
Guest Ticket [Member] | Sales Channel, Directly to Consumer [Member] | Lindblad Segment [Member]
Revenues	[1],[2]	254,725	226,151	154,345
Guest Ticket [Member] | Sales Channel, Directly to Consumer [Member] | Land-experience [Member]
Revenues		184,420	143,837	115,309
Guest Ticket [Member] | Sales Channel, Agencies [Member] | Lindblad Segment [Member]
Revenues		92,809	90,185	66,298
Guest Ticket [Member] | Sales Channel, Agencies [Member] | Land-experience [Member]
Revenues		22,385	17,129	17,713
Guest Ticket [Member] | Sales Channel, Affinity [Member] | Lindblad Segment [Member]
Revenues		25,520	29,535	19,949
Guest Ticket [Member] | Sales Channel, Affinity [Member] | Land-experience [Member]
Revenues		3,741	3,134	3,100
Other Tour [Member] | Lindblad Segment [Member]
Revenues		50,252	51,539	37,857
Other Tour [Member] | Land-experience [Member]
Revenues		$ 10,875	$ 8,033	$ 6,929
[1]Under the brand license agreement between the Company and National Geographic, effective January 1, 2024, National Geographic no longer receives commissions on sales bookings through the former National Geographic sales channel as the co-selling arrangement operates as direct sales through the Company’s booking system. For the years ended December 31, 2023 and 2022, the National Geographic sales channel accounted for $68.7 million and $59.0 million, respectively, of the Company’s consolidated guest ticket revenue. In the table above, 2023 and 2022 guest ticket revenues derived through the previous National Geographic sales channel have been classified as direct sales to conform to current period’s presentation.[2]Under the brand license agreement between the Company and National Geographic, effective January 1, 2024, National Geographic no longer receives commissions on sales bookings through the former National Geographic sales channel as the co-selling arrangement operates as direct sales through the Company’s booking system. In the three and nine months ended September 30, 2023, the National Geographic sales channel accounted for $18.6 million and $53.2 million, respectively, of the Company’s consolidated guest ticket revenue. In the table above, 2023 guest ticket revenues derived through the previous National Geographic sales channel have been classified as direct sales for comparison purposes.

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Change in Contract Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Balance	$ 93,906
Recognized in tour revenues during the period	(618,823)
Additional contract liabilities in period	715,198
Balance	$ 190,281

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 183,941	$ 156,845	$ 87,177
Restricted cash	32,202	30,499	28,847
Total cash, cash equivalents and restricted cash as presented in the statement of cash flows	$ 216,143	$ 187,344	$ 116,024	$ 172,693

Note 2 - Summary of Significa_7

Note 2 - Summary of Significant Accounting Policies - Restricted Cash and Marketable Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Total restricted cash and marketable securities	$ 32,202	$ 30,499	$ 28,847
Credit Card Processor Reserves [Member]
Total restricted cash and marketable securities	12,750	20,250
Federal Maritime Commission Escrow [Member]
Total restricted cash and marketable securities	18,101	8,958
Certificates of Deposit and Other Restricted Securities [Member]
Total restricted cash and marketable securities	$ 1,351	$ 1,291

Note 2 - Summary of Significa_8

Note 2 - Summary of Significant Accounting Policies - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Prepaid tour expenses	$ 28,585	$ 26,123
Other	33,705	31,035
Total prepaid expenses and other current assets	$ 62,290	$ 57,158

Note 2 - Summary of Significa_9

Note 2 - Summary of Significant Accounting Policies - Property and Equipment, Net (Details)	Dec. 31, 2024
Vessels and Vessel Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	15 years
Vessels and Vessel Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	25 years
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	40 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life (Year)	5 years

Note 3 - Earnings Per Share (De

Note 3 - Earnings Per Share (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.8	0.8	0.7
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	2.4	0.2	1.5
Series A Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	8.4	8	7.4

Note 3 - Earnings Per Share - S

Note 3 - Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net loss attributable to Lindblad Expeditions Holdings, Inc.	$ (31,179)	$ (45,610)	$ (111,381)
Series A redeemable convertible preferred stock dividend	4,641	4,373	4,671
Net loss available to stockholders	$ (35,820)	$ (49,983)	$ (116,052)
Total weighted average shares outstanding, basic (in shares)	53,817,462	53,256,513	52,018,987
Total weighted average shares outstanding, diluted (in shares)	53,817,462	53,256,513	52,018,987
Basic (in dollars per share)	$ (0.67)	$ (0.94)	$ (2.23)
Diluted (in dollars per share)	$ (0.67)	$ (0.94)	$ (2.23)

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation	$ 50,500	$ 44,900	$ 41,000
Payments to Acquire Property, Plant, and Equipment	$ 33,520	$ 29,963	$ 38,205

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property and equipment, gross	$ 863,373	$ 820,101
Less: Accumulated depreciation	(344,983)	(294,099)
Property and equipment, net	518,390	526,002
Vessels and Vessel Improvements [Member]
Property and equipment, gross	799,652	776,622
Furniture and Fixtures [Member]
Property and equipment, gross	59,132	42,055
Land [Member]
Property and equipment, gross	729	0
Building and Building Improvements [Member]
Property and equipment, gross	2,435	0
Leasehold Improvements [Member]
Property and equipment, gross	$ 1,425	$ 1,424

Note 5 - Goodwill and Intangi_3

Note 5 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amortization of Intangible Assets	$ 2.1	$ 1.8	$ 2

Note 5 - Goodwill and Intangi_4

Note 5 - Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Balance	$ 42,017
Balance	59,031
Land-experience [Member]
Balance	42,017
Acquisitions (a)	16,957	[1]
Foreign exchange translation	57
Balance	$ 59,031
[1]Increase to goodwill relates to the 2024 acquisition of Thomson Group. For additional information, see Note 9—Acquisition.

Note 5 - Goodwill and Intangi_5

Note 5 - Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Intangibles, gross	$ 28,375	$ 19,780
Intangibles, accumulated amortization	(12,452)	(10,368)
Intangibles, net	$ 15,923	9,412
Intangible, weighted average useful life (Year)	11 years
Trade Names [Member]
Intangibles, gross	$ 14,939	7,069
Intangibles, accumulated amortization	(2,911)	(2,222)
Intangibles, net	$ 12,028	4,847
Intangible, weighted average useful life (Year)	12 years 1 month 6 days
Customer Lists [Member]
Intangibles, gross	$ 6,907	6,182
Intangibles, accumulated amortization	(4,517)	(3,209)
Intangibles, net	$ 2,390	2,973
Intangible, weighted average useful life (Year)	1 year 8 months 12 days
Operating Rights [Member]
Intangibles, gross	$ 6,529	6,529
Intangibles, accumulated amortization	(5,024)	(4,937)
Intangibles, net	$ 1,505	$ 1,592
Intangible, weighted average useful life (Year)	17 years 2 months 12 days

Note 5 - Goodwill and Intangi_6

Note 5 - Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
2025	$ 2,465
2026	1,708
2027	1,229
2028	1,229
2029	1,178
Thereafter	8,114
Finite-Lived Intangible Assets, Net	$ 15,923	$ 9,412

Note 6 - Long-term Debt (Detail

Note 6 - Long-term Debt (Details Textual) $ in Thousands, € in Millions		12 Months Ended
	Feb. 04, 2022 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 EUR (€)	May 02, 2023 USD ($)
Payments of Financing Costs		$ 21	$ 7,489	$ 10,874
Line of Credit Facility, Commitment Fee Percentage		1%
Debt Issuance Costs, Gross			7,500	10,900
Amortization of Debt Issuance Costs		$ 3,700	3,400	2,700
Deferred Debt Issuance Cost, Writeoff		0	3,860	$ 9,004
Letters of Credit Outstanding, Amount		$ 1,200	$ 1,200
Senior Secured Notes [Member]
Debt Instrument, Face Amount	$ 360,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Payments of Financing Costs	$ 10,900
Credit Agreement [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 45,000
Line of Credit Facility, Commitment Fee Percentage	0.50%
Credit Agreement [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000
The 9.00% Note [Member]
Debt Instrument, Face Amount						$ 275,000
Debt Instrument, Interest Rate, Stated Percentage						9%
State Assistance Loan [Member] | DuVine [Member]
Debt Instrument, Face Amount | €					€ 0.1
Debt Instrument, Interest Rate, Stated Percentage		0.53%			0.53%

Note 6 - Long-term Debt - Long-

Note 6 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Principal	$ 635,029	$ 635,077
Deferred Financing Costs, Net	(9,575)	(13,252)
Balance	625,454	621,825
Principal, Current	(29)	(47)
Deferred Financing Costs, Net, Current	0	0
Balance, Current	(29)	(47)
Principal, Non-current	635,000	635,030
Deferred Financing Costs, Net, Non-current	(9,575)	(13,252)
Balance, Non-current	625,425	621,778
The 6.75% Note [Member]
Principal	360,000	360,000
Deferred Financing Costs, Net	(4,576)	(6,771)
Balance	355,424	353,229
The 9.00% Note [Member]
Principal	275,000	275,000
Deferred Financing Costs, Net	(4,999)	(6,481)
Balance	270,001	268,519
Other Debt [Member]
Principal	29	77
Deferred Financing Costs, Net	0	0
Balance	$ 29	$ 77

Note 6 - Long-term Debt - Futur

Note 6 - Long-term Debt - Future Minimum Principal Payments of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
2025	$ 29
2026	0
2027	360,000
2028	275,000
2029	0
Thereafter, long-term debt	0
Long-Term Debt, Gross	$ 635,029	$ 635,077

Note 7 - Financial Instrument_2

Note 7 - Financial Instruments and Fair Value Measurements (Details Textual) $ in Millions	Dec. 31, 2024 USD ($)
Long-Term Debt, Fair Value	$ 644.3

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Net of Valuation Allowance	$ 17,667	$ 18,666
Deferred Tax Liabilities, Net	2,604	552
Deferred Tax Assets, Operating Loss Carryforwards, Domestic	81,200
Unrecognized Tax Benefits	0	0	$ 1,400
Other Noncurrent Assets [Member]
Deferred Tax Assets, Net of Valuation Allowance	900	1,600
Other Noncurrent Liabilities [Member]
Deferred Tax Liabilities, Net	$ 3,500	$ 2,100

Note 8 - Income Taxes - U.S. an

Note 8 - Income Taxes - U.S. and Foreign Components of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Domestic	$ 7,093	$ (11,630)	$ (21,403)
Foreign	(32,184)	(26,100)	(80,681)
(Loss) income before income taxes	$ (25,091)	$ (37,730)	$ (102,084)

Note 8 - Income Taxes - Income

Note 8 - Income Taxes - Income Tax Provisions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal	$ 316	$ 0	$ 0
State	52	218	244
Foreign — Other	984	209	392
Total current	1,352	427	636
Federal	842	1,492	5,709
State	298	625	218
Foreign — Other	612	602	(487)
Total deferred	1,752	2,719	5,440
Income tax expense	$ 3,104	$ 3,146	$ 6,076

Note 8 - Income Taxes - Reconci

Note 8 - Income Taxes - Reconciliation of Income Tax (Benefit) Expense (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Tax provision at statutory rate – federal	21%	21%	21%
Tax provision at effective state and local rates	(1.40%)	(2.10%)	(0.30%)
Foreign tax rate differential	(32.70%)	(17.10%)	(16.60%)
Executive compensation	(4.80%)	(5.00%)	0%
Valuation allowance	6.80%	(5.90%)	(9.40%)
Other	(1.30%)	0.80%	(0.70%)
Total effective income tax rate	(12.40%)	(8.30%)	(6.00%)

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Net operating loss carryforward	$ 21,564	$ 26,086
Disallowed interest carryforward	18,256	15,286
Other	1,209	2,020
Valuation allowance	(23,362)	(24,726)
Total net deferred assets	17,667	18,666
Property and equipment	(19,111)	(18,542)
Other	(1,160)	(676)
Total net deferred liabilities	(20,271)	(19,218)
Deferred tax (liabilities) assets	$ (2,604)	$ (552)

Note 9 - Acquisition (Details T

Note 9 - Acquisition (Details Textual) $ in Thousands		12 Months Ended
	Jul. 31, 2024 USD ($) shares	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Goodwill		$ 59,031	$ 42,017
Wineland - Thomson Adventures [Member]
Business Acquisition, Number of Brands Included in Acquisition	3
Business Combination, Consideration Transferred	$ 30,000
Payments to Acquire Businesses, Gross	24,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 6,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares	682,593
Business Combination, Acquisition Related Costs		2,700
Goodwill		17,000
Wineland - Thomson Adventures [Member] | Tradenames and Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 8,600

Note 9 - Acquisition - Schedule

Note 9 - Acquisition - Schedule of Pro Forma Revenue and Net Loss (Details) - Wineland - Thomson Adventures [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue	$ 593,318	$ 471,060
Net loss available to stockholders	$ (46,458)	$ (17,140)

Note 10 - Commitments and Con_3

Note 10 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2025	Apr. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Lease, Weighted Average Remaining Lease Term (Year)			18 years 8 months 12 days
Operating Lease, Expense			$ 2.6	$ 2.7	$ 2.3
United States Tour Operators Association [Member] | Letter of Credit for Insurance [Member]
Other Commitment Required			1
Other Commitment			$ 1
Torcatt Enterprises Limitada [Member] | Forecast [Member]
Business Combination, Price of Acquisition, Expected	$ 17
DuVine [Member]
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 1.5
Minority Interest Ownership, Call Option for Additional Ownership, Percent			10%
Mr. Bressler [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner			9.90%
Natural Habitat, Inc [Member]
Subsidiary, Ownership Percentage, Additional Ownership Acquired		9.95%
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 15.2
Subsidiary, Ownership Percentage, Parent		90.10%
Mr. Lawrence, President of Off the Beaten Path [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner			19.90%
DuVine [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner			25%
Subsidiary, Ownership Percentage, Additional Ownership Acquired		5%
Subsidiary, Ownership Percentage, Parent		75%
Classic Journeys, LLC [Member]
Subsidiary, Ownership Percentage, Noncontrolling Owner			19.90%

Note 10 - Commitments and Con_4

Note 10 - Commitments and Contingencies - Redeemable Non-controlling Interest (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 37,784	$ 27,886	$ 10,626
Net income attributable to noncontrolling interest	2,984	4,734	3,221
Redemption value adjustment of put option	4,853	5,695	14,039
Distribution	(1,400)	(531)	0
Redemption of put and/or call options	(14,797)	0	0
Balance	$ 29,424	$ 37,784	$ 27,886

Note 10 - Commitments and Con_5

Note 10 - Commitments and Contingencies - Operating Lease Payment (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 1,845
2026	513
2027	409
2028	16
2029	16
Thereafter	654
Present value discount (8% weighted average)	(674)
Total	$ 2,779

Note 10 - Commitments and Con_6

Note 10 - Commitments and Contingencies - Operating Lease Payment (Details) (Parentheticals)	Dec. 31, 2024
Weighted average discount rate	8%

Note 10 - Commitments and Con_7

Note 10 - Commitments and Contingencies - Charter Commitments (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025	$ 16,692
2026	11,567
Total	$ 28,259

Note 11 - Employee Benefit Pl_2

Note 11 - Employee Benefit Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	30%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 2,400
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 900,000	$ 700,000	$ 600,000

Note 12 - Stockholders' Equity

Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended				97 Months Ended
	Aug. 31, 2020	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2016	Dec. 31, 2024	Aug. 31, 2022
Preferred Stock, Shares Authorized (in shares)		1,000,000	1,000,000			1,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.0001	$ 0.0001			$ 0.0001
Common Stock, Shares Authorized (in shares)		200,000,000	200,000,000			200,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.0001	$ 0.0001			$ 0.0001
Preferred Stock, Shares Outstanding (in shares)		62,000	62,000			62,000
Stock and Warrant Repurchase Plan [Member]
Stock Repurchase Program, Additional Authorized Amount					$ 15
Share Repurchase Program, Authorized, Amount					$ 35
Warrants Repurchased During Period (in shares)		6,011,926
Warrants Repurchased During Period, Value		$ 14.7
Share Repurchase Program, Remaining Authorized, Amount		$ 12				$ 12
Stock and Warrant Repurchase Plan [Member] | Common Stock [Member]
Stock Repurchased During Period, Shares (in shares)						875,218
Stock Repurchased During Period, Value						$ 8.3
Conversion From Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted (in shares)				18,000
Conversion of Stock, Shares Issued (in shares)		0	0	2,109,561
Series A Redeemable Convertible Preferred Stock [Member]
Temporary Equity, Shares Issued (in shares)		62,000	62,000			62,000
Deferred Offering Costs		$ 2.1				$ 2.1
Dividends Payable		$ 4.6	$ 4.4	$ 4.6		$ 4.6
Convertible Preferred Stock, Shares Reserved for Future Issuance (in shares)		8,400,000				8,400,000
Series A Redeemable Convertible Preferred Stock [Member] | Private Placement [Member]
Temporary Equity, Shares Issued (in shares)	85,000
Temporary Equity, Par or Stated Value Per Share (in dollars per share)							$ 0.0001
Shares Issued, Price Per Share (in dollars per share)	$ 1,000
Proceeds from Issuance of Preferred Stock and Preference Stock	$ 85
Preferred Stock, Dividend Rate, Percentage	6%
Convertible Preferred Stock, Conversion Price (in dollars per share)	$ 9.5
Series A Preferred Stock [Member]
Preferred Stock, Shares Outstanding (in shares)		62,000				62,000

Note 13 - Stock Based Compens_3

Note 13 - Stock Based Compensation (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024 $ / shares shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | shares		263,000	0	77,500
Stock Issued During Period, Value, Stock Options Exercised		$ 300		$ 300
Share-Based Payment Arrangement, Expense, Tax Benefit		0	$ 0	0
Employee Service Share-based Compensation, Compensation Not yet Recognized		$ 12,700
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		1 year 6 months
Natural Habitat, Inc [Member] | Mr. Bressler [Member]
Equity Incentive Opportunity, Floor Value		$ 25,000
Stock Options, Excess of Fair Value, Percent		10.10%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Percentage of Award Elected to Receive Early		50%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | shares	1,300,000
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 8.44
Deferred Compensation Arrangement with Individual, Allocated Share-Based Compensation Expense		$ 3,200	8,000
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expense		$ 9,800	$ 13,900	$ 7,000
Share-Based Payment Arrangement, Option [Member] | Natural Habitat, Inc [Member] | Mr. Bressler [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)	10 years
2021 Long-Term Incentive Compensation Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | shares		4,700,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | shares		1,500,000
2021 Long-Term Incentive Compensation Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		1 year
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period, Number of Installments		3
2021 Long-Term Incentive Compensation Plan [Member] | Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Earn out Percentage		0%
2021 Long-Term Incentive Compensation Plan [Member] | Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Earn out Percentage		150%
2021 Long-Term Incentive Compensation Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		1 year
2021 Long-Term Incentive Compensation Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)		4 years
2021 Long-Term Incentive Compensation Plan [Member] | Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)		10 years
The 2020 Long-Term Incentive Compensation Plan [Member] | Performance Shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Earn out Percentage		0%
The 2020 Long-Term Incentive Compensation Plan [Member] | Performance Shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Earn out Percentage		200%

Note 13 - Stock-based Compensat

Note 13 - Stock-based Compensation - Summary of PSU, Restricted Share and RSU Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Performance Shares [Member]
Balance, weighted average grant date fair value (in dollars per share)	$ 9.44	$ 9.56
Granted, weighted average grant date fair value (in dollars per share)	9.33
Vested and released, weighted average grant date fair value (in dollars per share)	0
Forfeited, weighted average grant date fair value (in dollars per share)	9.45
Restricted Stock Units (RSUs) [Member]
Balance, weighted average grant date fair value (in dollars per share)	9.6	11.06
Granted, weighted average grant date fair value (in dollars per share)	8.74
Vested and released, weighted average grant date fair value (in dollars per share)	10.55
Forfeited, weighted average grant date fair value (in dollars per share)	10.34
Market Stock Units [Member]
Balance, weighted average grant date fair value (in dollars per share)	15.08	$ 17.48
Granted, weighted average grant date fair value (in dollars per share)	0
Vested and released, weighted average grant date fair value (in dollars per share)	18.9
Forfeited, weighted average grant date fair value (in dollars per share)	$ 17.36
2021 Long-Term Incentive Compensation Plan [Member] | Performance Shares [Member]
Balance (in shares)	66,684
Granted (in shares)	70,378
Vested and released (in shares)	0
Forfeited (in shares)	(53,640)
Balance (in shares)	83,422
2021 Long-Term Incentive Compensation Plan [Member] | Restricted Stock Units (RSUs) [Member]
Balance (in shares)	657,207
Granted (in shares)	553,156
Vested and released (in shares)	(454,346)
Forfeited (in shares)	(81,774)
Balance (in shares)	674,243
2021 Long-Term Incentive Compensation Plan [Member] | Market Stock Units [Member]
Balance (in shares)	61,881
Granted (in shares)	0
Vested and released (in shares)	(18,639)
Forfeited (in shares)	(33,850)
Balance (in shares)	9,392

Note 13 - Share-based Compensat

Note 13 - Share-based Compensation - Summary of Significant Assumptions for Share-based Compensation Awards (Details) - Share-Based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Exercise price (in dollars per share)		$ 9.56
Dividend yield	0%	0%	0%
Expected volatility		64.60%	57.79%
Risk-free interest rate		3.63%
Expected term in years (Year)		6 years 3 months	6 years 3 months
Minimum [Member]
Exercise price (in dollars per share)	$ 7.4		$ 12.64
Expected volatility	64.60%
Risk-free interest rate	3.63%		2.75%
Expected term in years (Year)	5 years
Maximum [Member]
Exercise price (in dollars per share)	$ 8.44		$ 14.36
Expected volatility	77.80%
Risk-free interest rate	4.48%		3.15%
Expected term in years (Year)	6 years 3 months

Note 13 - Stock-based Compens_2

Note 13 - Stock-based Compensation - Summary of Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Exercised, shares (in shares)	(263,000)	0	(77,500)
Lindblad Plan and 2015 Plan [Member]
Options outstanding, shares (in shares)	888,458
Options outstanding, weighted average exercise price (in dollars per share)	$ 10.55
Options outstanding, weighted average contractual ife (Year)	9 years	7 years 8 months 12 days
Granted, shares (in shares)	1,944,319
Granted, weighted average exercise price (in dollars per share)	$ 8.12
Exercised, shares (in shares)	(263,000)
Exercised, weighted average exercise price (in dollars per share)	$ 9.5
Forfeited, shares (in shares)	(150,000)
Forfeited, weighted average exercise period (in dollars per share)	$ 9.56
Options outstanding, shares (in shares)	2,419,777	888,458
Options outstanding, weighted average exercise price (in dollars per share)	$ 8.77	$ 10.55
Options vested and/or expected to vest, number of options (in shares)	2,419,777
Options vested and/or expected to vest, weighted average exercise price (in dollars per share)	$ 8.77
Options vested and/or expected to vest, weighted average contractual life (Year)	9 years
Options vested and/or expected to vest, aggregate intrinsic value	$ 7,910,071
Options exercisable, number of options (in shares)	1,594,548
Options exercisable, weighted average exercise price (in dollars per share)	$ 8.76
Options exercisable, weighted average contractual life (Year)	9 years 1 month 6 days
Options exercisable, aggregate intrinsic value	$ 5,162,571

Note 14 - Segment Information_2

Note 14 - Segment Information (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Number of Operating Segments	2
Revenue from Contract with Customer, Including Assessed Tax	$ 644,727	$ 569,543	$ 421,500
Lindblad Segment [Member]
Segment, Expenditure, Addition to Long-Lived Assets	30,000	28,600	34,300
Land-experience [Member]
Segment, Expenditure, Addition to Long-Lived Assets	3,500	2,600	3,900
Intersegment Eliminations [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 6,600	$ 7,900	$ 6,000

Note 14 - Segment Information -

Note 14 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Tour revenues	$ 644,727	$ 569,543	$ 421,500
Operating (loss) income	21,553	10,599	(63,046)
Cost of tours	343,673	322,376	283,217
General and administrative	139,921	118,431	96,291
Selling and marketing	87,018	71,426	60,996
Depreciation and amortization	52,562	46,711	44,042
Depreciation	50,500	44,900	41,000
Total Assets	876,905	831,297
Total intangibles, net	15,923	9,412
Total goodwill	59,031	42,017
Operating Segments [Member]
Tour revenues	644,727	569,543	421,500
Operating (loss) income	21,553	10,599	(63,046)
Lindblad Segment [Member]
Depreciation	48,345	43,263	41,080
Amortization	88	88	195
Total Assets	667,799	675,432
Total intangibles, net	1,505	1,592
Total goodwill	0	0
Lindblad Segment [Member] | Operating Segments [Member]
Tour revenues	423,306	397,410	278,449
Operating (loss) income	(2,928)	(8,692)	(77,871)
Cost of tours	217,408	222,413	201,255
General and administrative	92,662	83,004	67,564
Selling and marketing	67,731	57,334	46,226
Depreciation and amortization	48,433	43,351	41,275
Land-experience [Member]
Depreciation	2,131	1,641	946
Amortization	1,998	1,719	1,821
Total Assets	209,106	155,865
Total intangibles, net	14,418	7,820
Total goodwill	59,031	42,017	42,017	$ 42,017
Land-experience [Member] | Operating Segments [Member]
Tour revenues	221,421	172,133	143,051
Operating (loss) income	24,481	19,291	14,825
Cost of tours	126,265	99,963	81,962
General and administrative	47,259	35,427	28,727
Selling and marketing	19,287	14,092	14,770
Depreciation and amortization	$ 4,129	$ 3,360	$ 2,767