Intrepid Travel has delivered its best-ever result in its 37-year history – achieving record results across financial, impact and customer metrics in 2025 and building on the momentum of recent years and reinforcing its position as a global leader in purpose led travel.
Despite geopolitical headwinds and growing global uncertainty in 2025, the world’s largest adventure company achieved $873.3m (+26% YoY) in bookings; $809.3 in revenue (+29%); $53.9m (+26%) Underlying EBITDA; and a Net Promoter Score (NPS) of 83.
Intrepid’s 2025 report highlights strong progress against its 2030 Strategy, underpinned by record financial performance, global expansion, and continued investment in technology, people, and purpose.
The company reports that its long-term strategy gained momentum during the year, tracking ahead of plan and enabling more ambitious goals while deepening impact for communities worldwide.
In their opening statement, chair Darrell Wade and CEO James Thornton said their most difficult moment in 20-plus years of working together came “on an otherwise unremarkable evening” in Lyon, France in February last year.
“It was a conversation that led to a fundamental change in our business,” they said. “We were reflecting on the company’s growth over dinner with our key shareholder and Board member Julien Leclercq. But then the discussion turned to how we were tracking with climate…
“The truth was that after working in climate for 20 years our approach wasn’t achieving the real-world impact that we wanted, or that the Earth needs. The three of us challenged each other on what a different pathway could look like, and how we could reduce the lifecycle emissions of our business and travellers.
“Confronting the truth can be challenging! It wasn’t an easy discussion and there were no clear answers. It was, however, a very Intrepid moment because of what came of it. You see, to be Intrepid means to be bold, and to not be afraid of change. Seven months later, after many more discussions and considerations, we announced Intrepid’s new climate action plan, which will underpin our growth over the next four years.”
“Intrepid has grown at nearly 30 per cent in 2025; we achieved record profits and donations to our foundation; and recorded our best ever customer NPS score. We’re also on track to achieve $1bn in bookings for the first time in 2026.
“This is a long-held dream of ours, which will mean Intrepid can create more impact, for our team through learning, development and remuneration, as well as for local communities through investment and economic development. We sincerely thank our team, partners, suppliers and communities for making it all possible, and we look forward to achieving great things in the year ahead together.”
Growth through acquisition and expansion
Growth has been driven by a combination of targeted acquisitions and geographic expansion. Intrepid accelerated its presence in non-English-speaking European markets through the acquisition of Sawadee Reizen in the Netherlands. At the same time, it expanded its global office network to 31 locations, adding new offices in Denmark, Chile and Uganda to strengthen its vertically integrated model and improve both customer experience and product delivery.
The company also broadened its accommodation portfolio through boutique acquisitions in Tasmania and Marrakech, with further expansion planned through the addition of Wild Bush Luxury properties in South Australia and Northern Territory and two Great Walks of Australia, subject to regulatory approval.
This will bring the total boutique portfolio to six properties and introduce new lodge and walking experiences. In North America, Intrepid established a dedicated sales and marketing office in Seattle and an operational hub in Denver, alongside appointing a general manager of Tailor-Made to support growth in customised travel.
Investment in technology remained a key priority. Major upgrades included a new revenue management system, a dedicated procurement function, and ongoing enhancements to core booking and operational platforms. Alongside this, the company launched a new Impact Strategy aligned to its 2030 goals, focused on community empowerment, environmental responsibility, and delivering positive outcomes through travel.
Intrepid’s balanced scorecard approach measures performance across financial, customer, people, growth, and impact metrics. Customer satisfaction remained strong, with an NPS of 83 exceeding targets, while revenue growth and impact initiatives also performed well. The company raised $3.6 million for the Intrepid Foundation, surpassing its target.
However, employee engagement declined, with the People score falling to 54, below target. This reflects the internal pressures associated with rapid growth and transformation. The company acknowledges the need to better support its workforce as it scales operations globally.
Challenges during the year included ongoing investment in automation, AI exploration, and process improvements aimed at building a more efficient organisation. Cost management remained a focus as the business balanced growth ambitions with operational discipline.
Looking ahead, Intrepid remains focused on sustaining momentum through strategic investments, strengthening its core business, and pursuing new opportunities that support long-term, sustainable growth.
2025 in numbers
