v3.26.1
Revenue from Contracts with Customers
6 Months Ended
Jun. 30, 2026
Revenue from Contracts with Customers [Abstract]  
Revenue from Contracts with Customers
4.
REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of revenue

The table below disaggregates total revenue by reportable segment (see Note 13) for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

(in USD and thousands)

 

 

 

 

 

 

 

 

 

 

 

 

Ocean

 

$

885,302

 

 

$

712,891

 

 

$

1,548,884

 

 

$

1,271,869

 

River

 

 

1,130,370

 

 

 

1,021,719

 

 

 

1,379,849

 

 

 

1,235,802

 

Other

 

 

174,829

 

 

 

145,757

 

 

 

315,509

 

 

 

269,752

 

Total revenue

 

$

2,190,501

 

 

$

1,880,367

 

 

$

3,244,242

 

 

$

2,777,423

 

Total revenue for the three months ended June 30, 2026 increased by $310.1 million to $2,190.5 million from $1,880.4 million for the same period in 2025. Total revenue for the six months ended June 30, 2026 increased by $466.8 million to $3,244.2 million from $2,777.4 million for the same period in 2025. These increases were primarily due to an increase in capacity driven by growth in the fleet, and higher revenue per passenger cruise day.

Regional economic trends affect the Group’s revenue and cash flows. The table below disaggregates percentage of passengers by source market, which is the passenger’s home country or region, for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

North America

 

 

88.1

%

 

 

88.1

%

 

 

89.0

%

 

 

89.1

%

Other

 

 

11.9

%

 

 

11.9

%

 

 

11.0

%

 

 

10.9

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

 

100.0

%

 

The disaggregation by source market is similar across all reportable segments.

The Group’s vessels and ships primarily operate in Europe.