Norwegian Cruise Line Holdings said total revenue for Q2 2025 was $2.5 billion, up from $2.4 billion in 2024, citing an increase in Capacity Days related to the delivery of Norwegian Aqua in March 2025 as the primary factor.

10-QQuarterly reportFiled Aug 4, 2025Period of report Jun 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Norwegian Cruise Line Holdings said total revenue for Q2 2025 was $2.5 billion, up from $2.4 billion in 2024, citing an increase in Capacity Days related to the delivery of Norwegian Aqua in March 2025 as the primary factor.
The company said net interest expense for Q2 was $236.8 million in 2025 and $178.5 million in 2024, with the 2025 change reflecting losses on extinguishment and modification of debt of $68.4 million. Excluding these losses, the company said net interest expense decreased, citing lower rates as the primary factor.
Norwegian Cruise Line Holdings said liquidity as of June 30, 2025 was approximately $2.4 billion, including cash and cash equivalents of $184.0 million and available borrowings under the Revolving Loan Facility of $2.0 billion. In June 2025, the company increased the commitment under this loan facility from $1.7 billion to approximately $2.5 billion.
The company said net cash provided by operating activities for the 6 months ended 2025 was $1.4 billion and net cash used in investing activities was $1.9 billion, with the investing outflow primarily related to the delivery of Norwegian Aqua. For the remainder of 2025, the company said expected capital expenditures are $1.2 billion.

Key figures

Quarter ended June 30, 2025

Revenue: $2.5B
Operating income: $424M
Net income: $30M
EPS: $0.07

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q2 Total Revenue $2.5 billion, Norwegian Aqua Delivery

Norwegian Cruise Line Holdings said total revenue for Q2 2025 was $2.5 billion, up from $2.4 billion in 2024, citing an increase in Capacity Days related to the delivery of Norwegian Aqua in March 2025 as the primary factor.

Source · Based on the MD&A text of the filing

Q2 Net Interest Expense $236.8 million and Losses on Debt Extinguishment and Modification

The company said net interest expense for Q2 was $236.8 million in 2025 and $178.5 million in 2024, with the 2025 change reflecting losses on extinguishment and modification of debt of $68.4 million. Excluding these losses, the company said net interest expense decreased, citing lower rates as the primary factor.

Source · Based on the MD&A text of the filing

Liquidity Approximately $2.4 billion and Revolving Loan Facility Expansion

Norwegian Cruise Line Holdings said liquidity as of June 30, 2025 was approximately $2.4 billion, including cash and cash equivalents of $184.0 million and available borrowings under the Revolving Loan Facility of $2.0 billion. In June 2025, the company increased the commitment under this loan facility from $1.7 billion to approximately $2.5 billion.

Source · Based on the MD&A text of the filing

First-Half Cash Flow and 2025 Remaining Period Capital Expenditure Plan

The company said net cash provided by operating activities for the 6 months ended 2025 was $1.4 billion and net cash used in investing activities was $1.9 billion, with the investing outflow primarily related to the delivery of Norwegian Aqua. For the remainder of 2025, the company said expected capital expenditures are $1.2 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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