Celsius Q2 Revenue Climbs 73% To Record $16.1 Million, Net Loss Improves

Posted On: 8/13/2019

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BOCA RATON, FL -- Global fitness drink maker Celsius Holdings Inc. reported that distribution expansion and robust demand fueled 73% revenue growth in the second quarter to $16.1 million from $9.3 million in the year-ago quarter. For the three months ended June 30, the company had a net loss of $1.5 million versus $3.4 million inclusive of $834,000 in net investments in Asia and a $1.0 million legal settlement in 2018.

Domestic revenue increased 69% to $14.4 million, up from $8.5 million in the year-ago quarter, driven by continued strong double-digit growth in traditional channels of trade and expansion with retail and distribution partners. International revenue increased 119% to $1.7 million, up from $766,000 year over year.

"Our second quarter results demonstrate the traction we are gaining both domestically and abroad and highlights the power of our trend forward brand that is aligned with today's health minded consumer. During the quarter we broadened our reach and drove deeper placements in existing accounts. Our increased sales volumes are driven from the demands of our Celsius portfolio and our rapidly growing consumer base," said Celsius president and chief executive John Fieldly. "Through the first half of the year, revenue has grown by more than 40%, topping $30 million in sales and at the same time we continue to focus on controlling costs and optimize our operating cash. We remain confident about the opportunities for continued growth and further realizing returns on our investments as we continue to execute our plans for expansion and new product launches."

He added that in the U.S., Celsius continues its pursuit for a national distribution network and now has more than 50 regional DSD partners, many of which are premier beverage distributors. In Europe, he reported, the company's products and new flavor launches are receiving an overwhelmingly positive response.

"Favorable market trends and strong consumer demand for healthy beverage alternatives combined with our ability to scale rapidly with a variety of products and flavors position us for continued success," Fieldly summed up. "Our strategy of positioning Celsius as the global beverage leader for health-minded consumers remains our top priority."

Click here for the full financial results press release.