Celsius Holdings, Inc.

celsiusholdingsinc.com

How Do They Make Money?

Retailers, distributors and other business customers pay for finished beverage and wellness products when they receive them under the terms of their sales agreements. The amount collected can be reduced by discounts, promotions and other customer incentives.

FY2025 revenue

Who Are Their Customers?

Distributors, e-commerce retailers and brick-and-mortar outlets such as grocery and convenience stores, clubs, gyms and nutrition stores buy the products. In the U.S. and Canada, sales run through direct retailer sales, distributors and DSD networks; international sales use regional distribution partners.

Customers above 10% of revenue, FY2025

of revenue from one customer

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.

Operating income, FY2025

6% of revenue

▼ −9% vs FY2024 ($155.7M, 11%)

Net income, FY2025

4% of revenue

▼ −26% vs FY2024 ($145.1M, 11%)

Free cash flow, FY2025

13% of revenue

▲ +35% vs FY2024 ($239.5M, 18%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +11%; vs $739.3M in Q2 FY2025
Net income: ▼ −45%; vs $99.9M in Q2 FY2025

Growing. Revenue grew 8.0x in 4 years, from $314.3M in FY2021 to $2.5B in FY2025, about 68% a year.

Broader brand portfolio The earlier report centered on CELSIUS drinks and liquid supplements, including workout-focused products and protein bars. The latest report describes energy drinks across CELSIUS, Alani Nu and Rockstar, alongside wellness and nutrition products.

Wider distribution arrangement The earlier report described Pepsi as the primary U.S. distributor. The latest report says Pepsi is the primary distributor for CELSIUS, Alani Nu and Rockstar in the U.S. and Canada, and describes an expanded commercial arrangement for sales, placement and promotion.

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