Viking Holdings reported total revenue of $1.05 billion for the first quarter ended March 31, representing a 17.5 per cent increase compared to the same period in 2025.
This revenue growth helped narrow the net loss for the quarter to $54.2 million from a loss of $105.5 million in the prior year.
An adjusted profit metric rose by 43.9 per cent to $104.8 million, driven by higher passenger days and increased fleet capacity. This capacity expansion included the addition of one ocean-going ship, which helped increase operating capacity by 6.6 per cent and led to an occupancy rate of 94.7 per cent.
The cruise line noted it had sold 92 per cent of its core capacity for the 2026 season and 38 per cent for the 2027 season. Advance bookings for the 2026 season reached $6.23 billion, which is 13 per cent higher than the previous year at the same point in time.
Vessel expansion continued with the delivery of the European river vessel Viking Eldir and the acquisition of the ocean ship Viking Yidun from China Merchants Viking Cruises.
The company stated that it is expected to take delivery of two ocean-going ships and nine river vessels during the remainder of 2026.
The company reported cash and cash equivalents of $4 billion alongside an undrawn revolving credit facility of $1 billion as of March 31.
Principal payments scheduled for the remainder of 2026 stand at $174.4 million, while deferred revenue reached $5.4 billion.
Separately, the board of directors appointed Leah Talactac, previously President and Chief Financial Officer, as the new Chief Executive Officer. Under this transition, Torstein Hagen will move from his role as Chairman and Chief Executive Officer to become Executive Chairman while Linh Banh has been named Chief Financial Officer.
