Eric Des Lauriers's questions to Lindblad Expeditions Holdings Inc (LIND) leadership • Q2 2025
Question
Eric Des Lauriers asked for more details on the Q2 increase in sales and marketing spend and its future trajectory, and also requested clarification on the timing and pace of the announced 38% reduction in non-revenue days through 2027.
Answer
CFO Rick Goldberg attributed the higher sales and marketing costs to investments in new channels like the Disney partnership, international expansion, and a contractual step-up in royalties to National Geographic. CEO Natalya Leahy clarified that the 38% reduction in non-revenue days compares the 2027 plan to the 2025 deployment, resulting from optimized dry dock and transition voyage planning.