Celsius Holdings Posts 101% Q1 Revenue Increase, Net Loss As It Expands To New Markets

Posted On: 5/15/2018

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BOCA RATON, FL – Fitness drink maker Celsius Holdings Inc. reported a net loss of $2.9 million for the three months ended Mar. 31, compared with a loss of $1.9 million a year earlier. Fiscal 2018 first quarter revenue was up 101% to $12.1 million from $6 million in the comparable 2017 period.

North American revenue increased 69% to $8.1 million, up from $4.8 million in, driven by continued strong double-digit growth in all channels of trade.

European revenue climbed 118% to $2.5 million, from $1.2 million in 2017 driven by expansion and launch of a BCAA Recovery Drink line extension. Asian expansion delivered initial revenues totaling $1.4 million, driven by launch initiatives expanding to more than 13,000 locations in China.

Net loss to common shareholders of $3 million compared to a net loss to common shareholders of $2 million in the Q1 2017; mainly as a result of $2.2 million expended in new Asia expansion initiatives  

Other Highlights:

>> Appointed John Fieldly to the role of Chief Executive Officer and interim Chief Financial Officer  

>> Entered China market and expanded distribution to over 13,000 locations with regional distribution through partnership with Qifeng Food Technology (Beijing) Co. Ltd., a national wholesale distributor of foods and beverages  

>> Expanded product distribution to Finland and Sweden with New Branched-Chain Amino Acid (BCAA) Recovery Line extension  

>> Expanded product distribution to Norway with Original Flagship Line  

>> Expanded Celsius product distribution in the U.S. drug store channel with prime placement at CVS and continued expansion in traditional retail by securing two divisions of global conglomerate, Ahold Delhaize, adding over 1,500 locations of availability in Food Lion and Hannaford banners  

>> Extended its original flagship Celsius product line with sparkling Kiwi Guava flavor  

>> Expanded distribution of Celsius Heat, the company's new trainer-grade line of fitness drinks, into convenience channel and gained nationwide placement authorization at convenience retailer 7-Eleven under the retailer's "First, Best, and Only" program  

>> Extended its Celsius Heat Trainer-Grade Pre-Workout product line with two new flavors, Apple Jack'd and Orangesicle  

>> Named to the 2018 Beverage Stock Watch List as one of the "Top Beverage Companies for 2018" by Institutional Analysts Inc., an independent investment research firm  

>>Celsius Heat brand named "Best Packaging/Label Design" at the InnoBev Global Beverage Congress Awards held by Zenith Global, in Prague, Czech Republic

"Our strategy of positioning Celsius as the global beverage leader for health-minded consumers remains our top priority and is continuing to take hold as we further extended our brand and broadened our distribution to penetrate new markets and grow our business in the first quarter," said Celsius Holdings Inc. president and chief executive John Fieldly.

Click here to view complete first-quarter financial report.