Lindblad Expeditions advertising spend, FY2025

Lindblad Expeditions (LIND) reported $51.7M of advertising expense for the fiscal year ended Dec 31, 2025. That is 6.7% of revenue of $771M. Up 31.2% from FY2024.

Ad spend, FY2025
$51.7M
year ended Dec 31, 2025
Change vs prior year
+31.2%
vs FY2024
Share of revenue
6.7%
of $771M revenue
Rank by ad spend
#451
of 458 companies

Key facts

  • Ad spend is 4.0x its FY2015 level ($13M), faster than revenue (3.7x).
  • FY2025 is the highest year on file, going back to FY2013.
  • Largest increase +105.4% in FY2021; largest cut -58.5% in FY2020.
  • Ad spend has risen 5 years in a row.
  • Ad spend is 6.7% of revenue, down from 11.3% in FY2020.
  • Lindblad Expeditions spends more on advertising than 2% of the 458 US-listed companies tracked. Its ad-to-revenue ratio is 1.5x the median of 4.6%.

Ad spend by fiscal year

$0 $20M $40M $60M FY2013 (ended 2013-12-31): $12.1M 2013 FY2014 (ended 2014-12-31): $12.5M FY2015 (ended 2015-12-31): $13M 2015 FY2016 (ended 2016-12-31): $14.7M FY2017 (ended 2017-12-31): $16.4M 2017 FY2018 (ended 2018-12-31): $16.9M FY2019 (ended 2019-12-31): $22.4M 2019 FY2020 (ended 2020-12-31): $9.3M FY2021 (ended 2021-12-31): $19.1M 2021 FY2022 (ended 2022-12-31): $31.6M FY2023 (ended 2023-12-31): $33.2M 2023 FY2024 (ended 2024-12-31): $39.4M FY2025 (ended 2025-12-31): $51.7M 2025 $51.7M

Ad spend as % of revenue

0% 5% 10% 15% FY2013 (ended 2013-12-31): 6.3% 2013 FY2014 (ended 2014-12-31): 6.3% FY2015 (ended 2015-12-31): 6.2% 2015 FY2016 (ended 2016-12-31): 6.1% FY2017 (ended 2017-12-31): 6.2% 2017 FY2018 (ended 2018-12-31): 5.5% FY2019 (ended 2019-12-31): 6.5% 2019 FY2020 (ended 2020-12-31): 11.3% FY2021 (ended 2021-12-31): 13.0% 2021 FY2022 (ended 2022-12-31): 7.5% FY2023 (ended 2023-12-31): 5.8% 2023 FY2024 (ended 2024-12-31): 6.1% FY2025 (ended 2025-12-31): 6.7% 2025 6.7%

History

Download CSV
Fiscal year Period end Ad spend YoY Revenue Ad / revenue Tag Filing
FY2025 Dec 31, 2025 $51.7M +31.2% $771M 6.7% AdvertisingExpense 10-K Feb 26, 2026
FY2024 Dec 31, 2024 $39.4M +18.7% $645M 6.1% AdvertisingExpense 10-K Feb 26, 2026
FY2023 Dec 31, 2023 $33.2M +5.1% $570M 5.8% AdvertisingExpense 10-K Feb 26, 2026
FY2022 Dec 31, 2022 $31.6M +65.4% $422M 7.5% AdvertisingExpense 10-K Feb 28, 2025
FY2021 Dec 31, 2021 $19.1M +105.4% $147M 13.0% AdvertisingExpense 10-K/A Mar 21, 2024
FY2020 Dec 31, 2020 $9.3M -58.5% $82.4M 11.3% AdvertisingExpense 10-K Mar 10, 2023
FY2019 Dec 31, 2019 $22.4M +32.5% $343M 6.5% AdvertisingExpense 10-K Feb 28, 2022
FY2018 Dec 31, 2018 $16.9M +3.0% $310M 5.5% AdvertisingExpense 10-K Mar 12, 2021
FY2017 Dec 31, 2017 $16.4M +11.6% $267M 6.2% AdvertisingExpense 10-K Feb 26, 2020
FY2016 Dec 31, 2016 $14.7M +13.1% $242M 6.1% AdvertisingExpense 10-K Feb 28, 2019
FY2015 Dec 31, 2015 $13M +4.0% $210M 6.2% AdvertisingExpense 10-K Mar 2, 2018
FY2014 Dec 31, 2014 $12.5M +3.3% $198M 6.3% AdvertisingExpense 10-K Mar 7, 2017
FY2013 Dec 31, 2013 $12.1M n/a $192M 6.3% AdvertisingExpense 10-K Mar 14, 2016

What the figure is

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Compared with similar spenders

The 6 companies closest to Lindblad Expeditions in latest-year ad spend.

Rank Company Ad spend Ad / revenue YoY Fiscal year
447 Upwork $51.9M 6.6% -9.1% FY2025
448 Inuvo $51.9M 60.2% -13.0% FY2025
449 Klaviyo $51.8M 4.2% +12.9% FY2025
450 Exelixis $51.7M 2.2% +18.9% FY2026
451 Lindblad Expeditions $51.7M 6.7% +31.2% FY2025
452 ThredUp $51.1M 16.4% +23.1% FY2025
453 Dolby Laboratories $51M 3.8% -11.0% FY2025

Full ranking of 458 companies · Biggest increases #65 · Up 5+ years in a row #44 · New $50M spenders #18

Questions

How much does Lindblad Expeditions spend on advertising?

Lindblad Expeditions spent $51.7M on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 10-K filed Feb 26, 2026.

What percentage of revenue does Lindblad Expeditions spend on advertising?

6.7% of revenue in fiscal 2025 ($51.7M of $771M). The median across the 458 companies tracked is 4.6%.

Is Lindblad Expeditions spending more on advertising?

Yes. Ad spend rose 31.2% in fiscal 2025 from fiscal 2024. It has risen 5 years in a row.

How does Lindblad Expeditions rank by advertising spend?

#451 of 458 US-listed companies with $50M or more in ad spend, ranked on each company's latest fiscal year.

What does Lindblad Expeditions's advertising figure include?

Advertising costs as disclosed in the annual report (XBRL tag AdvertisingExpense).

Source

Filing
10-K for FY2025, filed Feb 26, 2026
Accession number
0001437749-26-005873
Company
LINDBLAD EXPEDITIONS HOLDINGS, INC., CIK 1512499, SIC 4700 (Transportation Services)
Data
SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
Cite
Lindblad Expeditions advertising spend, FY2013-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 10-K filed Feb 26, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/lindblad-expeditions-holdings/advertising-spend/
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CSV, all years · CSV, all 458 companies