Pursuit Attractions and Hospitality (PRSU) Q1 2026 earnings summary

Executive summary

• Achieved record Q1 2026 revenue of $51.6 million, up 37–37.4% year-over-year, driven by strong demand, higher visitor volumes, and the Tabacón acquisition exceeding expectations.

• Significant margin improvement and narrowing of net loss to $24.9 million from $31.1 million, with adjusted EBITDA improving by $2.6 million year-over-year to $(14.9) million.

• Robust booking pace and positive guest satisfaction metrics support confidence in full-year growth outlook.

• Opportunistic share repurchases totaled $40.4 million at an average price of $35.40, with authorization increased by $50 million and $59.6 million remaining.

• Pending sale of Flyover Attractions for $78.4 million expected to close in May 2026, with proceeds to strengthen liquidity and focus on core assets.

Financial highlights

• Q1 2026 revenue reached $51.6 million, up $14.1 million or 37% year-over-year, with attractions ticket revenue up 22% and hospitality room revenue up 78%.

• Net loss attributable to the company improved to $24.9 million from $31.1 million; adjusted net loss was $26.2 million versus $26.9 million.

• Adjusted EBITDA for Q1 2026 was $(14.9) million, improving by $2.6 million year-over-year.

• Same-store attraction effective ticket price grew 5% to $48.02; same-store lodging RevPAR rose 6% to $117.93.

• Cash and cash equivalents at quarter-end were $34.5 million, with total liquidity of $170.3–$250 million pro forma for Flyover sale.

Outlook and guidance

• Reaffirmed full-year 2026 revenue guidance at $465 million (mid-point), including ~$8 million from Flyover, and adjusted EBITDA guidance of $123–$133 million, up ~9% at midpoint from 2025.

• Excluding Flyover, expects double-digit revenue and adjusted EBITDA growth at midpoint, with margin improvement.

• Growth capex for 2026 guided at $70–$80 million, with total capex at $103–$114 million; $300 million+ in organic growth investments planned through 2030.

• Vision 2030 targets: over $845 million revenue, more than $265 million adjusted EBITDA, and margins above 30%.

• Liquidity is expected to be sufficient for at least the next 12 months.