Company Announcements

Full-year 2024 revenue of $1.36 billion reflects growing consumer demand for better-for-you, functional products

Celsius’ retail sales increased 22% year-over-year and category market share grew 160 basis points to 11.8% in 2024¹

Announced agreement to acquire Alani Nu, creating a leading better-for-you, functional lifestyle platform; combines two growing, scaled energy brands with clear category tailwinds

Celsius Holdings to host webcast to discuss fourth quarter and full-year 2024 results, and transaction details at 6 p.m. ET today

BOCA RATON, Fla.--(BUSINESS WIRE)--Feb. 20, 2025-- Celsius Holdings, Inc. (Nasdaq: CELH) (“Celsius” or “the company”) today reported fourth quarter and full-year 2024 financial results.

Summary of Fourth Quarter and Full-Year 2024 Financial Results

John Fieldly, Chairman and CEO of Celsius Holdings, said: “Our record $1.36 billion full-year 2024 revenue reflects a solid year of performance, underscored by consumers’ continued preference for our great-tasting, functional products. Celsius achieved exceptional milestones in 2024, which included contributing 30% of all category growth and increasing our category share by 160 basis points to 11.8%.¹ We also increased our total points of distribution by 37%¹ in 2024, ensuring that Celsius is available in more places to meet consumer demand, and our ACV reached new heights at over 98.7%¹. We believe we have the right strategy to drive sustained, long-term growth, and we expect that the acquisition of Alani Nu will further strengthen Celsius’ position as an innovative leader in the large, growing global energy category.”

Jarrod Langhans, Chief Financial Officer of Celsius Holdings, said: “We are pleased that our strategic initiatives are driving long-term share gains and strong retail sales growth. For the full year, revenue increased 3%, and we expanded our gross margin 220 basis points to 50.2%. We are investing behind our growth through targeted strategic investments in vertical integration and capital efficient expansion. We are also excited to announce the acquisition of Alani Nu, which offers a compelling strategic rationale and strong financial benefits. We believe our capital allocation strategy is fully aligned with our vision to be a high-growth leader and deliver the greatest value to our consumers and shareholders.”

FINANCIAL AND MARKET HIGHLIGHTS FOR THE FOURTH QUARTER OF 2024

For the three months ended Dec. 31, 2024, revenue was approximately $332.2 million, compared to $347.4 million for the three months ended Dec. 31, 2023, a 4.4% decline. Fourth quarter revenue was negatively impacted by higher domestic allowances from a number of programs including our distributor incentive program, compared to the same period last year.

Fourth quarter international sales of $20.3 million increased 39% year over year from organic growth in our established EMEA markets, as well as recent international expansion launches across the UK and Ireland, France, Australia and New Zealand. International revenue excluding 2024 expansion markets increased 8% compared to the prior-year period.

For the three months ended Dec. 31, 2024, gross profit increased by $0.5 million to $166.7 million from $166.2 million for the three months ended Dec. 31, 2023. Gross profit margin was 50.2% for the three months ended Dec. 31, 2024, a 240 basis point increase from 47.8% for the same period in 2023. The increase in gross profit is primarily attributed to lower outbound freight and materials.

Selling, general and administrative expenses for the three months ended Dec. 31, 2024, increased $77.9 million, or 73%, to $185.2 million from $107.3 million in the quarter ended Dec. 31, 2023, driven primarily by accrued legal expenses in connection with an ongoing litigation matter. Selling, general and administrative expenses were also impacted by one-time restructuring related professional services and contractual co-packer obligations in the quarter ended Dec. 31, 2024.

Diluted earnings per share for the fourth quarter was $(0.11) compared to $0.17 for the prior-year period. Non-GAAP adjusted diluted earnings per share for the fourth quarter was $0.14 compared to $0.17 for the prior-year period.

Retail Performance

Retail sales of Celsius in total U.S. MULO Plus with Convenience increased by 2% year over year as reported by Circana for the last-thirteen-week period ended Dec. 29, 2024². Celsius dollar share for the same period was 10.9%, a decrease of 0.5% from the prior-year period³.

FINANCIAL AND MARKET HIGHLIGHTS FOR FULL-YEAR 2024

Revenue for the 12 months ended Dec. 31, 2024, increased 3% to $1,355.6 million compared to $1,318.0 million for the prior year. Revenue for the 12 months ended Dec. 31, 2024, was impacted by timing of orders from our largest distributor, increased promotional activity and incentive programs. International sales of $74.7 million increased 37% from $54.7 million for the prior year.

Gross profit increased 7% to $680.2 million compared to $633.1 million for the prior year. Gross profit as a percentage of revenue was 50.2% for the 12 months ended Dec. 31, 2024, up from 48.0% in the prior year.

Diluted earnings per share for the year ended Dec. 31, 2024, was $0.45 compared to $0.77 for the prior year. Non-GAAP adjusted diluted earnings per share was $0.70 compared to $0.78 for the prior-year period.

Retail Performance

Retail sales of Celsius in total U.S. MULO Plus with Convenience increased by 22.1% year over year as reported by Circana for the calendar year ended Dec. 29, 2024⁴. Celsius dollar share for the same period was 11.8%, an increase of 1.6% from the prior-year period⁵.

Acquisition of Alani Nu

The Company also announced today that it has entered into a definitive agreement to acquire Alani Nutrition LLC (“Alani Nu”) for $1.8 billion including $150 million in tax assets for a net purchase price of $1.65 billion, comprising a mix of cash and stock. The agreement has been approved by the Celsius Board of Directors. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close in the second quarter of 2025. The company has provided additional details regarding this transaction in a separate press release, and management will discuss the transaction on today’s webcast at 6:00 p.m. ET. A presentation highlighting this transaction will be available on the Celsius Holdings investor relations website at https://ir.celsiusholdingsinc.com.

Fourth Quarter and Full-Year 2024 Earnings Webcast

Management will host a webcast today, Thursday, Feb. 20, 2025, at 6:00 p.m. ET to discuss the company’s fourth quarter and full-year 2024 financial results and the Alani Nu transaction with the investment community. Investors are invited to join the webcast accessible from https://ir.celsiusholdingsinc.com. Downloadable files, an audio replay and transcript will be made available on the Celsius Holdings investor relations website.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (Nasdaq: CELH) is a functional beverage company and the owner of energy drink brand CELSIUS^® and hydration brand CELSIUS HYDRATION^TM. Born in fitness and pioneering the rapidly growing, better-for-you functional beverage category, the company creates and markets leading functional beverage products. For more information, please visit www.celsiusholdingsinc.com.

Forward-Looking Statements

This press release contains statements by Celsius Holdings, Inc. (“Celsius”, “we”, “us”, “our” or the “Company”) that are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our prospects, plans, business strategy and expected financial and operational results. You can identify these statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would”, ”could”, ”project”, ”plan”, “potential”, ”designed”, “seek”, “target”, variations of these terms, the negatives of such terms and similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate in these circumstances. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. You should not rely on forward-looking statements because our actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: changes to our commercial agreements with PepsiCo, Inc.; management’s plans and objectives for international expansion and global operations; general economic and business conditions; our business strategy for expanding our presence in our industry; our expectations of revenue; operating costs and profitability; our expectations regarding our strategy and investments; our ability to successfully integrate business that we may acquire, including our pending acquisition of Alani Nu; our ability to achieve the benefits that we expect to realize as a result of our acquisitions, including Alani Nu; the potential negative impact on our financial condition and results of operations if we fail to achieve the benefits that we expect to realize as a result of our business acquisitions, including Alani Nu; liabilities of the businesses that we acquire that are not known to us; our expectations regarding our business, including market opportunity, consumer demand and our competitive advantage; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; the Company’s ability to comply with the rules and regulations of the Securities and Exchange Commission (the “SEC”); and those other risks and uncertainties discussed in the reports we have filed with the SEC, such as our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Forward-looking statements speak only as of the date the statements were made. We do not undertake any obligation to update forward-looking information, except to the extent required by applicable law.

CELSIUS HOLDINGS, INC. - FINANCIAL TABLES

USE OF NON-GAAP MEASURES

Celsius defines Adjusted EBITDA as net income before net interest income, income tax expense (benefit), and depreciation and amortization expense, further adjusted by excluding stock-based compensation expense, foreign exchange gains or losses, distributor termination fees and legal settlement costs. Adjusted EBITDA Margin is the ratio between the company’s Adjusted EBITDA and net revenue, expressed as a percentage. Adjusted diluted earnings per share is GAAP diluted earnings per share net of add backs and deductions for distributor termination, legal settlement costs, reorganization costs, acquisitions costs, and penalties. Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share are non-GAAP financial measures.

Celsius uses Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share for operational and financial decision-making and believes these measures are useful in evaluating its performance because they eliminate certain items that management does not consider indicators of Celsius’ operating performance. Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share may also be used by many of Celsius’ investors, securities analysts, and other interested parties in evaluating its operational and financial performance across reporting periods. Celsius believes that the presentation of Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share, provides useful information to investors by allowing an understanding of measures that it uses internally for operational decision-making, budgeting and assessing operating performance.

Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share are not recognized terms under GAAP and should not be considered as a substitute for net income or any other financial measure presented in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for analysis of Celsius’ results as reported under GAAP. Celsius strongly encourages investors to review its financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.

Because non-GAAP financial measures are not standardized, Adjusted EBITDA, Adjusted EBITDA Margin, and Adjusted diluted earnings per share as defined by Celsius, may not be comparable to similarly titled measures reported by other companies. It therefore may not be possible to compare Celsius’ use of these non-GAAP financial measures with those used by other companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250220191829/en/

Paul Wiseman
Investors: investorrelations@celsius.com
Press: press@celsius.com

Source: Celsius Holdings, Inc.