Celsius Holdings Inc (NASDAQ: CELH) is a functional energy drink company that develops, markets, and sells beverages under the CELSIUS, Alani Nu, and Rockstar brand names. Revenue is generated through product sales to distributors, grocery chains, convenience chains, drug stores, nutrition stores, and mass merchants. As of December 31, 2025, Celsius competes directly against Monster Beverage Corporation, Red Bull GmbH, The Coca-Cola Company, Pepsi, Keurig Dr Pepper Inc., Nestlé S.A., BlueTriton Brands, Starbucks Corporation, Congo Brands, and Molson Coors in the functional energy drink and broader non-alcoholic liquid refreshment market. Total assets grew to approximately $5,119.6 million at December 31, 2025, up from $1,766.9 million at December 31, 2024, primarily reflecting the acquisitions of Alani Nu and Rockstar, which added $917.6 million in goodwill and $1,391.9 million in net intangible assets to the balance sheet. The company uses co-packers and internal manufacturing facilities and distributes through a network that includes a distribution agreement with Pepsi.

Revenue model

Transactional product sales of canned and bottled functional energy drinks sold through third-party distributors and retail channels including grocery, convenience, drug, nutrition, and mass merchandise outlets. No subscription or licensing revenue model is described in the filing.

Products and services

Functional energy drinks sold under three registered trademark families: CELSIUS, Alani Nu, and Rockstar. Products are packaged in non-refillable beverage containers including cans and bottles. Sales are seasonal, with highest volumes typically in the second and third calendar quarters.

Customers and end markets

Customers include distributors, grocery chains, convenience chains, drug stores, nutrition stores, and mass merchants. End consumers are the final demand driver. The filing notes customers are material to the business and that losing key relationships would adversely affect results. Pepsi serves as a distribution partner under an amended distribution agreement.

Value-chain role

Brand owner and product seller. Manufacturing is outsourced to co-packers supplemented by internal facilities. Distribution relies on third-party distributors, including Pepsi under a formal distribution agreement. The company holds registered trademarks in the U.S. and internationally as its primary intangible assets.

Geographic exposure

Primary operations are in the United States. The filing references international distribution in EMEA and other foreign countries where trademarks are registered, and notes exposure to foreign import, export, and sanctions laws, but does not provide a specific revenue breakdown by geography.

Competitors

Monster Beverage Corporation, Red Bull GmbH, The Coca-Cola Company, Pepsi, Keurig Dr Pepper Inc., Nestlé S.A., BlueTriton Brands, Starbucks Corporation, Congo Brands, Molson Coors

Source: SEC 10-K, filed 2026-03-02

Industry: Bottled & Canned Soft Drinks & Carbonated Waters Peers: Vita Coco Company Inc Coca-Cola Consolidated Inc Coca-Cola Co Keurig Dr Pepper Inc Monster Beverage Corp National Beverage Corp PepsiCo Inc Zevia PBC