Intrepid Travel says it delivered its strongest revenue year in company history last year.
The tour operator, based in Australia and known for its adventure itineraries, is celebrating its best performance in its 37-year history, according to a 106-page report released this week.
Intrepid reported $575 million in revenue, a 29% increase from 2024.
"Our record-setting results reveal a deeper story behind the numbers," said Leigh Barnes, Intrepid's president of the Americas. "They show that purpose-led travel is striking a chord. Travelers are increasingly looking for journeys that feel authentic, immersive and connected to the places and communities they visit."
The company growth comes as the industry faces a challenging economic and geopolitical environment, including a decline in inbound travel to the U.S. and war in the Middle East.
"Our 2025 performance shows that it is possible to grow a resilient, profitable business while staying true to our values -- even in the face of global uncertainty," said CEO James Thornton.
The operator increased its focus on implementing its 2030 strategy, which includes leveraging its core offerings while expanding its reach through non-tour experiences, like accommodations.
Intrepid expanded its accommodation portfolio through two acquisitions: the Edge of the Bay in Tasmania and a riad in Marrakech, Morocco.
The operator distributed $2.4 million through the Intrepid Foundation, the company's nonprofit arm. The foundation also became a registered nonprofit in the U.S.