Revenue growth reached 137.7% in 2026Q1, though structural margin volatility remains a concern as gross margins fluctuated between 46.0% and 52.3% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 |
|---|
| Sales/Revenue | 2.97B | 2.52B | 1.36B | 1.32B | 653.6M | 314.27M | 130.73M | 75.15M | 52.6M | 36.16M | 22.76M | 17.22M | 14.61M | 10.61M | 7.68M | 8.31M | 5.87M | 2.59M | 1.64M | 1.3M | 0 |
| Revenue Growth % | 123.34% | 85.54% | 2.85% | 101.65% | 107.97% | 140.41% | 73.96% | 42.85% | 45.46% | 58.89% | 32.19% | 17.85% | 37.66% | 38.12% | -7.57% | 41.67% | 126.57% | 57.46% | 26.81% | - | - |
| Cost of Goods Sold | 1.5B | 1.25B | 675.42M | 684.88M | 382.74M | 186.1M | 69.75M | 43.84M | 31.54M | 20.73M | 13.03M | 10.18M | 9.01M | 6.54M | 5.37M | 7.22M | 3.06M | 1.83M | 0 | 0 | 0 |
| COGS % of Revenue | - | 49.61% | 49.82% | 51.96% | 58.56% | 59.22% | 53.36% | 58.35% | 59.96% | 57.33% | 57.25% | 59.11% | 61.68% | 61.62% | 69.9% | 86.82% | 52.2% | 70.78% | - | - | - |
| Gross Profit | 1.47B | 1.27B | 680.21M | 633.14M | 270.87M | 128.17M | 60.97M | 31.3M | 21.06M | 15.43M | 9.73M | 7.04M | 5.6M | 4.07M | 2.31M | 1.1M | 2.8M | 756.7K | 0 | 0 | 0 |
| Gross Margin % | 49.62% | 50.39% | 50.18% | 48.04% | 41.44% | 40.78% | 46.64% | 41.65% | 40.04% | 42.67% | 42.75% | 40.89% | 38.32% | 38.38% | 30.1% | 13.18% | 47.8% | 29.22% | - | - | - |
| Gross Profit Growth % | - | 86.32% | 7.43% | 133.74% | 111.34% | 110.2% | 94.79% | 48.63% | 36.48% | 58.59% | 38.21% | 25.75% | 37.44% | 76.11% | 111.15% | -60.95% | 270.65% | - | - | - | - |
| Operating Expenses | 1.16B | 798.81M | 524.48M | 366.77M | 428.67M | 132.26M | 53.06M | 32.75M | 31.7M | 23.51M | 12.57M | 8.87M | 7.13M | 5.5M | 4.88M | 19.89M | 10.26M | 5.68M | 5.19M | 2.64M | 8.02K |
| OpEx % of Revenue | - | 31.76% | 38.69% | 27.83% | 65.59% | 42.08% | 40.59% | 43.58% | 60.26% | 65.01% | 55.25% | 51.5% | 48.79% | 51.78% | 63.45% | 239.3% | 174.82% | 219.19% | 315.49% | 203.52% | - |
| Selling, General & Admin | 1.16B | 798.81M | 524.48M | 366.77M | 428.67M | 132.26M | 53.06M | 32.75M | 31.7M | 23.51M | 12.57M | 8.87M | 7.13M | 5.5M | 4.88M | 19.89M | 10.26M | 5.68M | 4.16M | 1.79M | 8.02K |
| SG&A % of Revenue | - | 31.76% | 38.69% | 27.83% | 65.59% | 42.08% | 40.59% | 43.58% | 60.26% | 65.01% | 55.25% | 51.5% | 48.79% | 51.78% | 63.45% | 239.3% | 174.82% | 219.19% | 252.63% | 137.99% | - |
| Research & Development | 0 | 0 | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 0.07% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 0 | -1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.03M | 850.07K | 0 |
| Operating Income | 308.78M | 468.52M | 155.73M | 266.37M | -157.8M | -4.09M | 7.91M | -1.45M | -10.64M | -8.08M | -2.84M | -1.83M | -1.53M | -1.42M | -2.56M | -18.8M | -7.45M | -4.92M | -3.54M | -1.34M | -8.02K |
| Operating Margin % | 10.4% | 18.63% | 11.49% | 20.21% | -24.14% | -1.3% | 6.05% | -1.93% | -20.23% | -22.34% | -12.5% | -10.61% | -10.47% | -13.4% | -33.35% | -226.12% | -127.03% | -189.97% | -215.49% | -103.52% | - |
| Operating Income Growth % | - | 200.86% | -41.54% | 268.8% | -3758.22% | -151.69% | 646.24% | 86.39% | -31.69% | -184.01% | -55.68% | -19.45% | -7.57% | 44.5% | 86.37% | -152.19% | -51.5% | -38.81% | -163.96% | -16647.12% | - |
| EBITDA | 344.75M | 497.97M | 163M | 269.59M | -155.88M | -2.83M | 9.52M | -555.03K | -10.57M | -8.06M | -2.83M | -1.79M | -1.49M | -1.38M | -2.52M | -18.75M | -7.4M | -4.89M | -3.52M | -1.34M | -8.02K |
| EBITDA Margin % | 11.61% | 19.8% | 12.02% | 20.45% | -23.85% | -0.9% | 7.28% | -0.74% | -20.09% | -22.29% | -12.42% | -10.42% | -10.22% | -13.01% | -32.81% | -225.52% | -126.09% | -188.75% | -214.31% | -103.39% | - |
| EBITDA Growth % | 158.77% | 205.5% | -39.54% | 272.94% | -5416.07% | -129.68% | 1815.76% | 94.75% | -31.13% | -184.99% | -57.6% | -20.21% | -8.11% | 45.24% | 86.55% | -153.39% | -51.35% | -38.68% | -162.84% | -16626.35% | - |
| D&A (Non-Cash Add-back) | 35.97M | 29.45M | 7.27M | 3.23M | 1.92M | 1.26M | 1.61M | 893.41K | 72.16K | 20.43K | 16.95K | 33.04K | 37.26K | 41.51K | 41.5K | 50.23K | 55.1K | 31.61K | 19.39K | 1.67K | 0 |
| EBIT | 247.43M | 174.01M | 155.73M | 266.37M | -157.8M | -4.05M | 9.71M | 11.36M | -11.02M | -8.08M | -2.84M | -1.83M | -1.53M | -1.42M | -2.56M | -19.1M | -7.44M | -4.92M | -2.51M | -492.71K | 0 |
| Net Interest Income | -37.2M | -27.89M | 39.26M | 26.63M | 5.53M | 307K | -718K | -1.01M | -188.86K | -160.62K | -228.75K | -322.34K | -497.2K | -431.51K | -318.12K | -377.51K | -305.29K | -341.61K | -181.45K | 0 | 0 |
| Interest Income | 23.63M | 21.09M | 39.26M | 26.63M | 5.53M | 315K | 356K | 381.73K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.41K | 16.34K | 70.44K | 0 | 0 | 0 |
| Interest Expense | 60.82M | 48.98M | 0 | 0 | 0 | 8K | 1.07M | 1.39M | 188.86K | 160.62K | 228.75K | 322.34K | 497.2K | 431.51K | 318.12K | 395.93K | 321.62K | 412.05K | 181.45K | 0 | -8.02K |
| Other Income/Expense | -107.2M | -343.49M | 39.32M | 25.38M | 5.14M | 31K | 728K | 11.42M | -565.9K | -160.62K | -222.66K | -322.34K | -497.2K | -357.11K | -252.12K | -699.87K | -305.29K | 4.92M | 3.54M | 1.34M | 0 |
| Pretax Income | 201.58M | 125.03M | 195.05M | 291.75M | -152.66M | -4.06M | 8.64M | 9.97M | -11.21M | -8.24M | -3.07M | -2.15M | -2.03M | -1.78M | -2.81M | -19.5M | -7.76M | 0 | 0 | 0 | -8.02K |
| Pretax Margin % | 6.79% | 4.97% | 14.39% | 22.14% | -23.36% | -1.29% | 6.61% | 13.27% | -21.3% | -22.79% | -13.48% | -12.49% | -13.87% | -16.77% | -36.63% | -234.54% | -132.23% | - | - | - | - |
| Income Tax | 27.9M | 17.03M | 49.98M | 64.95M | 34.62M | -8M | 116K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 13.84% | 13.62% | 25.62% | 22.26% | -22.68% | 196.99% | 1.34% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - | - | - | 0% |
| Net Income | 173.68M | 108M | 145.07M | 226.8M | -187.28M | 3.94M | 8.52M | 9.97M | -11.21M | -8.24M | -3.07M | -2.15M | -2.03M | -1.78M | -2.81M | -19.5M | -7.76M | -5.26M | -3.73M | -1.45M | -8.02K |
| Net Margin % | 5.85% | 4.29% | 10.7% | 17.21% | -28.65% | 1.25% | 6.52% | 13.27% | -21.3% | -22.79% | -13.48% | -12.49% | -13.87% | -16.77% | -36.63% | -234.54% | -132.23% | -203.16% | -226.53% | -112.12% | - |
| Net Income Growth % | 55.51% | -25.56% | -36.03% | 221.1% | -4856.97% | -53.81% | -14.51% | 188.98% | -35.99% | -168.63% | -42.69% | -6.05% | -13.92% | 36.79% | 85.56% | -151.29% | -47.47% | -41.22% | -156.19% | -18038.6% | - |
| Net Income (Continuing) | 173.68M | 108M | 145.07M | 226.8M | -187.28M | 3.94M | 8.52M | 9.97M | -11.21M | -8.24M | -3.07M | -2.15M | -2.03M | -1.78M | -2.81M | -19.5M | -7.76M | -5.26M | -3.73M | -1.45M | -8.02K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.67 | 0.25 | 0.45 | 0.77 | -0.83 | 0.02 | 0.04 | 0.05 | -0.07 | -0.06 | -0.03 | -0.02 | -0.03 | -0.03 | -0.05 | -0.37 | -0.34 | -0.27 | -0.25 | -0.88 | -0.00 |
| EPS Growth % | 34.41% | -44.44% | -41.56% | 192.77% | -4250% | -45.5% | -31.14% | 171.45% | -20.71% | -133.21% | -22.69% | 34.74% | -12.58% | 36.77% | 87.43% | -8.82% | -25.93% | -8% | 71.59% | - | - |
| EPS (Basic) | - | 0.25 | 0.46 | 0.79 | -0.83 | 0.02 | 0.04 | 0.05 | -0.07 | -0.06 | -0.03 | -0.02 | -0.03 | -0.03 | -0.05 | -0.37 | -0.34 | -0.27 | -0.25 | -0.88 | -0.00 |
| Diluted Shares Outstanding | 259.76M | 237.17M | 237.4M | 236.96M | 226.95M | 233.07M | 223.33M | 192.55M | 150.15M | 133.26M | 115.7M | 99.53M | 61.18M | 60.54M | 60.55M | 52.58M | 22.88M | 19.31M | 15.1M | 1.65M | 157.22M |
| Basic Shares Outstanding | 257.01M | 235.19M | 233.67M | 230.78M | 226.95M | 221.34M | 210.59M | 182.29M | 150.15M | 133.26M | 115.7M | 99.53M | 61.18M | 60.54M | 60.55M | 52.58M | 22.88M | 19.31M | 15.1M | 1.65M | 157.22M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Distribution channel inventory volatility
As reported in recent financial statements, Celsius Holdings achieved a significant revenue surge to $782.6 million in 2026Q1, representing a 137.7% year-over-year growth rate that underscores the successful scaling of its domestic retail footprint through the strategic partnership with the PepsiCo distribution network.
The acceleration in top-line performance suggests that the company is successfully capturing incremental shelf space and driving higher consumer velocity. Investors should monitor whether this growth trajectory remains sustainable as the initial pipeline fill effects from the PepsiCo integration begin to normalize in subsequent quarters.
According to the company's income statement data, gross margins have fluctuated between 46.0% and 52.3% over the last ten quarters, reflecting the inherent sensitivity of the co-packing model to raw material costs and the impact of promotional trade spend on net realized pricing.
While the 50.39% average gross margin indicates robust pricing power within the functional energy category, the periodic compression suggests that management is actively trading margin for market share. The reliance on third-party manufacturers warrants further investigation into how future inflationary pressures on aluminum and ingredients might impact long-term profitability.
Based on reported figures, operating income has shown significant volatility, swinging from a $80.0 million loss in 2025Q3 to a $143.0 million profit in 2025Q2, which highlights the company's aggressive and often lumpy investment in marketing and distribution to defend its competitive position.
The lack of consistent operating leverage appears to be a deliberate choice to prioritize brand awareness and retail penetration over immediate margin expansion. Analysts should evaluate whether the current SG&A intensity is a permanent requirement for maintaining shelf velocity or if it will eventually scale down as the brand matures.
Financial filings reveal that revenue growth has experienced extreme variance, ranging from a 30.9% decline in 2024Q3 to a 172.9% increase in 2025Q3, suggesting that reported figures may be heavily influenced by distributor inventory stocking cycles rather than pure end-consumer demand.
This volatility raises concerns regarding the underlying durability of the growth narrative, as the transition to a large-scale distribution partner can obscure true retail sell-through. Investors should be cautious of interpreting these periodic revenue spikes as evidence of permanent market share gains without corroborating retail scanner data.
Quick answers to the most common questions about buying CELH stock.
For fiscal year 2025, Celsius Holdings, Inc. (CELH) reported total revenue of $2.52B.
Celsius Holdings, Inc. (CELH) is profitable, generating $108.0M in net income for the fiscal year ending 2025 with a net profit margin of 4.3%.
Celsius Holdings, Inc. (CELH) reported an operating income of $468.5M, resulting in an operating profit margin of 18.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Celsius Holdings, Inc. (CELH) generated $1.27B in gross profit for the year, representing a gross profit margin of 50.4%. This demonstrates the company's core pricing power and production efficiency.