Celsius Holdings, Inc. reported a robust financial performance for the quarter ended June 30, 2024, with revenue reaching approximately $402.0 million, a significant increase from $325.9 million in the same period the previous year. This 23% growth was primarily attributed to the North American market, which saw continued expansion in distribution points, shelf space, and product offerings. European revenue also saw a notable rise of 40%, amounting to $16.7 million, driven by successful product launches. Gross profit for the quarter rose by 32% to $209.1 million, with gross profit margins improving to 52% from 49% in the previous year, thanks to decreased costs in raw materials and outbound freight. Selling, general and administrative expenses increased by 22% to $114.9 million, reflecting higher marketing investments and employee costs to support growth. Net income attributable...Show More

Celsius Holdings, Inc. reported a robust financial performance for the quarter ended June 30, 2024, with revenue reaching approximately $402.0 million, a significant increase from $325.9 million in the same period the previous year. This 23% growth was primarily attributed to the North American market, which saw continued expansion in distribution points, shelf space, and product offerings. European revenue also saw a notable rise of 40%, amounting to $16.7 million, driven by successful product launches. Gross profit for the quarter rose by 32% to $209.1 million, with gross profit margins improving to 52% from 49% in the previous year, thanks to decreased costs in raw materials and outbound freight. Selling, general and administrative expenses increased by 22% to $114.9 million, reflecting higher marketing investments and employee costs to support growth. Net income attributable to common stockholders surged to $66.7 million, with basic earnings per share at $0.29, compared to $40.8 million and $0.18 per share in the prior year. The company's diluted earnings per share also increased from $0.17 to $0.28. In terms of business development, Celsius continued to expand its international presence with new distribution agreements in Canada, the United Kingdom, the Republic of Ireland, Australia, New Zealand, and France. Looking ahead, Celsius aims to grow and expand its product portfolio across the U.S. with an incentive program with Pepsi and anticipates sales from new international agreements to begin in the fourth quarter of 2024.