Pursuit Attractions & Hospitality (PRSU) FY2025 results: revenue $452 million, up 23.4% on the year
Pursuit Attractions & Hospitality, Inc. (PRSU) reported revenue of $452 million for fiscal 2025, the year ended 31 December 2025, up 23.4% on the year before. Net income was $23 million, down 93.8%, and diluted earnings per share $0.80. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2026.
Revenue
$452 million
+23.4% on the year
FY2018FY2025
Operating margin
12.2%
-12.4% a year earlier
FY2018FY2025
Net income
$23 million
-93.8% on the year
FY2018FY2025
Diluted EPS
$0.80
-93.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 1 raised, 12 new.
Revenue rose 23% for the year: Full-year revenue was $452.4 million, up 23.4%; fourth-quarter revenue was $57.1 million, up 24.6%, which management attributed to Jasper recovery, new experiences and guest demand.
Adjusted EBITDA reached $117.1 million: Full-year Adjusted EBITDA was $117.1 million, up $40.1 million from 2024; the seasonally slow fourth quarter was negative $12.4 million.
2026 guidance and 2030 targets introduced: The release gave full-year 2026 guidance and introduced long-term financial targets for 2030, with the figures listed under guidance.
New experiences and Jasper lifted revenue: Management attributed revenue growth to post-wildfire recovery at Jasper properties, new experiences and continued demand for distinctive experiences in iconic places.
Flyover sale agreed, closing this spring: Flyover will keep operating as part of Pursuit until the sale closes, which is expected in spring 2026.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
74.3
49.7
105
+49.5%
Capital expenditure
75.0
56.2
62.4
+33.4%
Free cash flow
-0.8
-6.6
42.2
Free cash flow margin
-0.2%
-1.8%
12.1%
Cash from investing
n/a
n/a
-74.9
Cash from financing
n/a
n/a
-36.2
Depreciation and amortisation
46.1
43.0
37.9
+7.2%
Share-based compensation
7.4
11.2
9.0
-33.3%
Buybacks
10.2
0.0
0.0
Diluted shares, weighted
28m
21m
21m
+32.5%
Shares outstanding at period end
28m
28m
25m
-0.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
582
526
43.4
+10.7%
Non-controlling interest
78.6
90.9
89.2
-13.6%
Redeemable equity
n/a
0.0
4.7
Debt
99.3
71.4
389
+38.9%
Operating lease liabilities
35.3
36.3
38.0
-2.7%
Finance lease liabilities
58.6
57.7
59.1
+1.5%
Other liabilities
112
62.9
514
+78.0%
Total liabilities and equity
965
845
1,137
+14.3%
Fixed assets
649
526
555
+23.4%
Goodwill
150
103
124
+45.6%
Intangible assets
75.6
64.4
54.9
+17.5%
Cash and equivalents
31.1
49.7
27.4
-37.4%
Receivables
9.2
9.3
8.2
-1.3%
Inventory
12.1
10.0
9.5
+21.3%
Other assets
37.7
82.1
359
-54.1%
Total assets
965
845
1,137
+14.3%
10-K for the year ended 31 December 2025, filed 25 February 2026: the filing.